FDIC to Return $4B in Signature Crypto Deposits Next Week.
The US Federal Deposit Insurance Corporation (FDIC) plans to return around $4bn in deposits linked to Signature Bank's digital asset banking business by early April, according to FDIC chair Martin Gruenberg. The deposits not included in the bid from a New York Community Bancorp subsidiary for Signature will be returned. Signature's payments platform Signet, along with the digital asset deposits, was not included in the NYCB bid and is being marketed to potential buyers. The FDIC closed the crypto-friendly bank on 12 March, citing risks to the US economy after Silicon Valley Bank and Silvergate Bank had failed.