Regulators at the Federal Deposit Insurance Corporation (FDIC) are reportedly imposing a notable requirement for all interested buyers of failed lender Signature Bank.
Reuters reports that all banks interested in acquiring Signature Bank will have to agree to give up all of the company’s businesses that are related to crypto.
“Any buyer of Signature must agree to give up all the crypto business at the bank, the two sources added.”
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The report says that interested buyers have until March 17th to submit their bids.
Regulators placed Signature into receivership over concerns that the firm cannot continue to do safe and sound business after customers pulled out approximately $17.8 billion on Friday, or 20% of the bank’s deposits.
Signature Bank is a popular crypto-friendly institution. By
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