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https://www.wsj.com/articles/signature-bank-is-shut-by-regulators-after-svb-failure-a5f9e0f7

Signature Bank Is Shut by Regulators After SVB Failure

Failure of real estate lender hobbled by crypto bet is third-largest in history

Signature Bank became one of the crypto market’s leading banks.  Photo: Marissa Alper for The Wall Street Journal
By Rachel Louise Ensign
, David Benoit
 and Caitlin Ostroff

Signature Bank was closed by regulators on Sunday, the second massive bank failure in three days.  

The New York-based bank faced a crisis of confidence after midsize lender SVB Financial Corp. was seized by regulators on Friday. Signature was also reeling from a bet on crypto banking that foundered after the sector imploded and banking regulators cracked down on lenders’ exposure to digital assets. The failure is the third-largest in history. 

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This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com.