New York Community Bank Agrees to Buy Signature Bank- Keeps $4 Billion Crypto Out of the Deal
Signature Bank was the third casualty of the recent series of bank collapses. Throughout 2023, news headlines have been dominated by the abrupt shutdowns of several prominent players in the banking industry. Among them are Silvergate Bank, Silicon Valley Bank, and Signature Bank. It is worth noting that all three institutions have a reputation for supporting cryptocurrency enterprises. Also read: Belgium to Require All Crypto Ads to State “Only Guarantee in Crypto is Risk” Now, according to the details shared by the Federal Deposit Insurance Corporation (FDIC) in a press release on Sunday, a New York Community Bank subsidiary has entered into an agreement to acquire Signature Bank . Source: The Wall Streets Journal New York Community Bank-Signature Bank deal excludes crypto The latest deal by the New York Community Bank encompasses the assets of the bank, which stand at $38.4 billion and $12.9 billion in loans. However, one primary thing to note is the exclusion of cr...