Regulators Close Signature Bank, Second Shuttered by Feds after SVB Disaster

New York Post

US regulators shut down a second bank Sunday in a bid to stem the banking crisis after Silicon Valley Bank went down last week.

Signature Bank, a New York-based, cryptocurrency friendly financial institution, was closed Sunday by its state chartering authority, according to a joint statement from the Treasury Department, Federal Reserve and FDIC.

All depositors will be made whole and taxpayers won’t be on the hook for any losses, the US government said.

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