- NY regulator denies closure of Signature Bank was related to crypto.
- Decision based on bank's ability to conduct business safely and soundly.
- Bank failed to provide reliable data as withdrawal requests ballooned.
- FDIC established a 'bridge' successor bank for depositors' access to funds.
- All depositors to be made whole, no losses to be borne by taxpayers.
Signature Bank's closure had 'nothing to do with crypto' - New York regulator
New York’s financial regulator said its decision to close Signature Bank had “nothing to do with crypto,” citing what it called “a significant crisis of confidence in the bank’s leadership” that occurred over the weekend after regulators shuttered Silicon Valley Bank .
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