The United States Department of the Treasury, the Federal Reserve and the banking supervisory authority FDIC announce in a joint statement that they are closing the New York-based crypto bank Signature Bank. The decision is part of limiting the consequences of the crisis surrounding SVB.
The authorities state that all of Signature’s customers are to be protected and that no losses will be “borne by the taxpayer”.
Signature’s stock fell more than 22 percent in Friday trading on Wall Street.
The bank is one of the most important in the cryptocurrency industry, according to CNBC. At the end of last year, the assets amounted to just over 110 billion dollars, corresponding to over 1,100 billion kroner, and the total deposits to nearly 89 billion dollars.
Last week, the FDIC took over control of SVB.