- 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.
Reuters — Business — Banking — Finance — Regulation — Cryptocurrency
Signature Bank's closure had 'nothing to do with crypto' - New York regulator
New York regulator denies closure of Signature Bank was related to crypto, citing crisis of confidence in bank's leadership.