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FDIC wants buyer of Signature Bank to give up crypto business, report says

From fortune.com

Signature Bank was one of the dwindling financial options for the U.S. crypto industry, even after New York regulators took over the bank and placed it into Federal Deposit Insurance Corporation receivership over the weekend. Now, as potential buyers circle the failed lender, the FDIC is mandating that they agree to give up the bank’s crypto business, according to a Wednesday report from Reuters. The circumstances around the New York-based bank’s failure have bred controversy in the U.S. crypto industry. Signature was one of the few U.S. banks that would offer financial services to blockchain companies, made even ... (full story)

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