FDIC sets deadline for Signature Bank's crypto clients to close accounts.
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.