Signature Bank's Crypto Exposure Rises Amid Real-Estate Lending Slowdown.
TL;DR
The Federal Deposit Insurance Corp. announced that New York Community Bancorp’s Flagstar Bank will assume all of Signature Bank’s cash deposits except for those of crypto companies, confirming suspicions that regulators' seizure of Signature Bank was motivated by hostility towards crypto. Barney Frank alleged last week that regulators seized Signature to send a message to get people away from crypto, and it increasingly appears that way. The FDIC denied requiring any buyer of Signature to give up all crypto business at the bank, but Reuters reported otherwise.
- Opinion | Barney Frank Was Right About Signature Bank The Wall Street Journal
- Signature Bank operations have buyer, FDIC says ABC News
- Where does Wall Street and tech go after SVB's downfall? Business Insider
- A refresher on what the FDIC is and does Houston Public Media
- Signature Bank Raised Its Crypto Exposure After Slowing Real-Estate Lending The Wall Street Journal
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