Third US crypto bank collapses ...News

Russia Today - Economy
Third US crypto bank collapses
source : Russia Today ( News ) () 39
Regulators shut down Signature Bank after its shares plunged in the wake of Silicon Valley Bank’s failure New York-based Signature Bank was shut down by US regulators on Sunday, becoming the third failure in the country’s banking industry in less than a week. According to a joint statement from the Federal Reserve, US Treasury and the Federal Deposit Insurance Corporation (FDIC), the lender “was closed by its state chartering authority.” The statement from the regulators was issued to announce a new emergency program to protect depositors of failing banks. They explained that they would make a “systemic risk excep

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