Signature Bank is the next bank to be closed by Federal regulators. Regulators closed the crypto-focused bank, citing systemic risk.
The Federal Reserve has closed Signature Bank, as revealed in a press release issued on March 12. The regulators noted that they were concerned about the systemic risks posed by the crypto-focused bank. The FDIC will make all depositors of the bank whole.
Source: https://beincrypto.com/signature-bank-bites-dust-feds-scramble-contain-losses/