Boots & Sabers

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1921, 12 Mar 23

Government Closes Another Bank

Rut rho.

U.S. regulators on Sunday shut down New York-based Signature Bank, a big lender in the crypto industry, in a bid to prevent the spreading banking crisis.


“We are also announcing a similar systemic risk exception for Signature Bank, New York, New York, which was closed today by its state chartering authority,” Treasury, Federal Reserve, and FDIC said in a joint statement Sunday evening.




Signature is one of the main banks to the cryptocurrency industry, the biggest one next to Silvergate, which announced its impending liquidation last week. It had a market value of $4.4 billion as of Friday after a 40% sell-off this year, according to FactSet.


As of Dec. 31, Signature had $110.4 billion in total assets and $88.6 billion in total deposits, according to a securities filing.


1921, 12 March 2023


  1. Jason

    We all know there are a bunch of Democrat elected officials in DC asking what social media controls are in place to censor people posting about this. They need to control the narrative and to stop the panic.

  2. Mike

    Barney Frank was the director of theis bank.

  3. Merlin

    More boutique banking gone wrong.

  4. Mar

    Jason, my disgusting Senator, Mark Kelly, was one of them.

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