Friday, 24 March, 2023

US Treasury and FDIC Shut Down Signature Bank over Cryptocurrency Loan Losses

<p>The US Treasury and FDIC have shut down Signature Bank due to its overexposure to cryptocurrency loans. The bank had suffered significant losses due to the recent crypto market collapse. The FDIC is expected to take over and manage the bank&#39;s assets and liabilities. Signature Bank is one of the largest crypto lenders in the US, and this shutdown is expected to send ripples through the crypto industry.&nbsp;</p>