U.S. Senator Elizabeth Warren alleges that Signature Bank failed because it “bought into its get-rich-quick narrative” and “embraced crypto customers with insufficient safeguards.” Emphasizing that the bank took “excessive risk,” the senator demanded answers from the CEO of Signature Bank regarding “the economically disastrous outcomes you created.”

U.S. Senator Michael Bennet has a bone to pick with banks that forge ties with crypto while the marijuana industry remains mostly shut out of the financial system.

Cathie Wood's Ark Investment has raised more than $16 million for two new private crypto funds as digital assets resume rally despite increasing regulatory pressure.

The U.S. Federal Deposit Insurance Corp (FDIC) has started requesting bids from banks interested in acquiring failed lenders Silicon Valley Bank and Signature Bank — but whoever bids on Signature cannot have any ties to the crypto industry, according to Reuters.

The United States’ Federal Deposit Insurance Corporation (FDIC) has reportedly asked potential rescuers of some failed U.S. banks to not support any crypto services.

The impact of the closure of these banks highlights a key difficulty of operating a business within or adjacent to the crypto ecosystem: the difficulty of finding reliable banking partners.

SHIB prices were down 10% in the past 24 hours, data shows.

Two major crypto-friendly banks announced their shutdown last week, Silvergate Bank and Signature Bank. In the case of Signature Bank, the FDIC officials alongside the Fed took the decision to shut down stating that it would help prevent the contagion from spreading. On Wednesday, March 15, Congressman Tom Emmer wrote a letter to the FDIC chairman Gruenberg seeking answers to questions over the reports that the regulatory is weaponizing the current instability in the US banking system in order to choke legal crypto activity in the United States. (coingape)

Signature Bank is on the market after being shuttered by 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 sources familiar with the matter. The New York-based bank’s weekend closure came two days after the collapse of another bank, the California-based Silicon Valley Bank (SVB), and less than a week after the closure of another California-based bank, Silvergate Bank. All three of the now-defunct banks were known as being crypto-friendly financial institutions. (Coindesk)

Regulators at the U.S. Federal Deposit Insurance Corp (FDIC) have asked banks interested in acquiring failed lenders Silicon Valley Bank and Signature Bank to submit bids by March 17, people familiar with the matter said on Wednesday.