Signature Bank Is Shut by Regulators After SVB Collapse
The third-largest bank failure in U.S. history was caused by a bet on the cryptocurrency market.
Regulators closed Signature Bank on Sunday. This was the second major bank failure in just three days.
After midsize lender SVB Financial Corp. went under, the New York-based bank was in a panic.
Friday, seized by regulators
Signature was also reeling after losing a bet in crypto banking. The sector collapsed and regulators tightened their oversight of digital assets exposure. This is the third-largest failure in human history.