Signature Bank Closure: Coinbase Says It Has About $240 Million Cash Balance With Collapsed New York-Based Lender
The collapse of Signature Bank marks the end of the third bank this week, following Silvergate Bank's voluntary liquidation and Silicon Valley Bank's shutdown on Wednesday and Friday respective.
The Federal Reserve on Sunday said that Signature Bank had been shut down by state authority. After news of the bank collapse emerged, Coinbase said that it holds $240 million in Signature Bank. The New York-based bank, which has a number of crypto clients, was shut down on Sunday by state regulators. The collapse of Signature Bank marks the end of the third bank this week, following Silvergate Bank's voluntary liquidation and Silicon Valley Bank's shutdown on Wednesday and Friday respectively. Signature Bank Shut Down; Second US Bank To Fail After SVB Collapse.
Coinbase Says It Holds $240 Million in Signature Bank
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