On Sunday (12th), the financial regulator of New York State in the United States closed thecryptocurrencyRelated bank Signature Bank, to prevent the contagion of the banking crisis triggered by the collapse of Silicon Valley Bank (SVB).
The New York State regulatory agency stated that all depositors will be able to get back all their deposits starting Monday (13th), and taxpayers will not bear any losses. Signature Bank shareholders and certain unsecured bondholders will not be protected, and senior management will be removed.
Signature Bank is the largest US-backedcryptocurrencyAs of the end of last year, Signature Bank had total assets of US$110.4 billion and total deposits of US$88.6 billion; like SVB, its customers are concentrated in the technology industry, and Signature Bank has about 1/4 of its depositors fromcryptocurrencyfield.
According to Signature Bank, the bank provides deposit services to customers’ digital assets, but does not invest, trade, hold its own balance sheet or provide custody of digital assets, and does not make loans or deposits against such assets. loan.
U.S. regulators are now in a race against time to find a solution for the failed Silicon Valley bank and prevent a similar situation from spreading to other banks.
