Prospective buyers of Signature Bank will reportedly have to agree to drop all crypto business at the bank. cheyenneligon reports
, also suggested the takeover was spurred by an anti-crypto motive, telling CNBC that Signature Bank was solvent – and that regulators intervened anyway to send a message.
“I think part of what happened was that regulators wanted to send a very strong anti-crypto message,” Frank told CNBC. However, the New York Department of Financial Services has denied that crypto had anything to do with its decision to shutter Signature Bank, instead saying that was due to a “crisis of confidence” in the bank’s leadership.The FDIC did not immediately return CoinDesk’s request for comment.
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