Signature Bank: FDIC Reportedly Raises Demand for Buyers to Quit Crypto Business
Signature Bank was the third victim of the back-to-back bank collapses recently. The year 2023 has been ablaze with headlines about the unexpected shutdowns of some of the banking industry’s titans. The likes of Silvergate Bank, Silicon Valley Bank, and Signature Bank have all bitten the dust. These three financial giants share a common characteristic: they are all known for their support of cryptocurrency businesses. Also read: Ethereum: Shanghai Hard Fork Gets an Official Date Barney Frank, a board member of the Signature Bank , earlier stated that the action was a very strong “anti-crypto message” by the authorities. Now, according to the latest news shared by two anonymous sources with Reuters, the Federal Deposit Insurance Corporation ( FDIC ) has asked the buyers of Signature Bank to stop doing business with cryptocurrency firms. Source: AP News Is Signature Bank and other shutdowns part of an anti-crypto plan? The reports, if proven true, will confirm the ...