Regulators Announce Closure of NY's Signature Bank, Which Held Significant Crypto Stakes

Feds say all deposits will be guaranteed U.S. regulators on Sunday announced they were closing Signature Bank, marking the second U.S. bank to fail days apart and the third-largest bank failure in U.S. history. According to a December 2022 securities filing, N.Y.-based Signature Bank held more than $110 billion in assets and some of the biggest stakes among banks in the nation in the cryptocurrency industry. The bank said at the time that it would be shrinking its $17.79 billion in crypto-related deposits by $8 billion to reduce risk in...