Signature Bank Closes; Is Second U.S. Bank To Fail In Days

Signature Bank was closed by its state chartering authority, officials said, adding that depositors will be made whole and no losses will be borne by taxpayers. Shareholders and unsecured debtholders will not be protected, and senior management has been removed. At more than $110 billion in assets, Signature Bank is the third-largest bank failure in U.S. history. The second-largest such failure came Friday from Santa Clara-based Silicon Valley Bank. Signature Bank is among the main banks for the cryptocurrency industry, according to CNBC. The bank's closure was announced in a...