Signature’s Crypto Business Wasn’t Part of Takeover Deal
- Flagstar’s takeover didn’t include Signature’s crypto business
- Signet platform is currently under receivership, FDIC says
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Signature Bank’s crypto-related deposits will be returned to customers directly, rather than being taken over by a unit of New York Community Bancorp under a deal announced Sunday.
The Federal Deposit Insurance Corp. said Flagstar Bank’s bid didn’t include Signature’s digital-assets business, and about $4 billion of deposits related to it will be given back to customers.