New York-based Signature Bank, another crypto-friendly bank, has been closed down by its state charter authority

The New-York-based bank, which is also known to serve a number of crypto firms, was shut down by state regulators, according to a Federal Reserve announcement.New York-based Signature Bank, another crypto-friendly bank, has been closed down by its state charter authority.
The Federal Reserve explained in a March 12 statement that the decision was made with the United States Federal Deposit Insurance Corporation (FDIC) to protect the U.S. economy and strengthen public confidence in the banking system.