(COINDESK) – Signature Bank is on the market after being shuttered by New York state regulators on Sunday, but any potential buyer reportedly has to agree to a major caveat: no crypto.
Reuters first reported the development on Wednesday evening, citing people familiar with the matter. The Federal Deposit Insurance Corp. said bids for the bank must be submitted by Friday, the report said.
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The New York-based bank’s weekend closure came two days after the collapse of another bank, California-based Silicon Valley Bank, and less than a week after the voluntary closure of another California-based bank, Silvergate Bank. All three of the now-defunct banks were considered crypto-friendly financial institutions.
