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Signature Bank Closure Deals Another Blow to Crypto Industry

  • Lender had relationships with likes of Circle and Coinbase
  • Closure comes days after the collapse of SVB, Silvergate
The Signature Bank headquarters at 565 Fifth Avenue in New York.

The Signature Bank headquarters at 565 Fifth Avenue in New York.

Photographer: Jeenah Moon/Bloomberg
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The closure of Signature Bank, a lender that counted a number of crypto companies as customers, marks another major setback for digital assets as the industry becomes ever more cut off from the banking system.

The Treasury Department said Signature Bank was closed by New York state regulators Sunday and that depositors will have access to their money Monday.