Friday, 24 March, 2023

FDIC and Treasury Shut down Signature Bank over Crypto Risks

<p>The Federal Deposit Insurance Corporation (FDIC) and the Treasury Department have closed down Signature Bank, a cryptocurrency-focused bank in New York. The move comes amidst growing concerns over the safety and regulation of the crypto industry, with several high-profile bankruptcies and fraud cases recently reported. Signature Bank had been one of the few banks to offer services to cryptocurrency firms.</p>