Signature Bank faces scrutiny over crypto clients and real estate loans.

New York’s Department of Financial Services took possession of Signature Bank after it experienced a run on deposits following the collapse of Silicon Valley Bank. Barney Frank says regulators seized Signature Bank last weekend because they wanted to send a message to other banks not to do business with the crypto industry. Other midsize banks also experienced large deposit outflows, and Mr. Frank, who served on Signature’s board, says the bank had enough liquidity on Sunday to ride out the run.