FDIC sets deadline for Signature Bank's crypto clients to close accounts.
TL;DR Summary
The US Federal Deposit Insurance Corp (FDIC) has instructed Signature Bank's crypto clients to close their accounts and move their money by April 5, as the deposits were not part of the rescue deal arranged with Flagstar Bank earlier this month. The deal saw Flagstar Bank assume substantially all of Signature Bank's deposits, some of its loan portfolios, and all 40 of its former branches, but not the $4bn in deposits related to Signature's digital-asset business.
- U.S. FDIC tells Signature Bank's crypto clients to close accounts by April 5 Reuters
- Signature’s crypto clients told to close their accounts by April 5: Report Cointelegraph
- Deal Watch: Deals Down, Debt Offerings Up as Banking Saga Continues | The American Lawyer Law.com
- “Cash out by next week, FDIC tells crypto depositors exposed to Signature bank- Here’s why FXStreet
- FDIC Gives Deadline Next Week for Crypto Depositors Stranded by Signature Failure Yahoo Finance
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