Crypto-Friendly Signature Bank Shut Down by State Regulators
New York-based Signature Bank, which has a number of crypto clients, was shut down Sunday by state regulators, the Federal Reserve announced.
In a statement, New York Department of Financial Services Superintendent Adrianne Harris said the Federal Depository Insurance Corporation (FDIC) had taken receivership of the bank. This marks the third bank collapse in under a week, following Silvergate Bank’s voluntary liquidation and Silicon Valley Bank’s shutdown on Wednesday and Friday, respectively.
