Signature had begun a pull back from digital assets in the wake of the blowup of the FTX exchange but still had US$16.5bil (RM74bil) in crypto-related client deposits as of March 8. — Reuters
The closure of Signature Bank, a lender that counted a number of crypto companies as customers, marks another major setback for digital assets as the industry becomes ever more cut off from the banking system.
The Treasury Department said Signature Bank was closed by New York state regulators Sunday and that depositors will have access to their money Monday.
