Signature Bank

Signature Bank had total assets of about $110.36 billion and total deposits of roughly $88.59 billion as of December 31. While a run on the bank triggered ...

That would bring crypto-related deposits to around 15-20 percent of its total, and the bank said it would cap the share of deposits from any single digital-asset client. Signature was one of the few financial institutions that had opened its doors to taking deposits of crypto assets, a business it entered into in 2018. Signature Bank was already under the spotlight since the collapse of FTX, which happened to have accounts with Signature Bank. The bank’s leaders had expected to be able to weather the storm because the outflows had slowed. Signature Bank's closure by New York state financial regulators on Sunday is being seen as the fallout from the collapse of Silicon Valley Bank as edgy depositors rushed to withdraw their money from Signature Bank. Though the bank faced a torrent of deposit outflows on Friday, the situation had stabilized by Sunday. While a run on the bank triggered the collapse of Silicon Valley Bank, Silvergate Capital wound down due to its dealings with the controversial FTX operated by Sam Bankman-Fried. The stock of the bank had started tanking. The Silicon Valley Bank failure was expected to put pressure on several other small and regional banks in the US. The Federal Deposit Insurance Corporation, the entity that seized Silicon Valley, insures deposits only up to $250,000. The depositors panicked because, like business customers of Silicon Valley, most had more than $250,000 in their accounts. Signature Bank had total assets of about $110.36 billion and total deposits of roughly $88.59 billion as of December 31.

OkCoin CEO Hong Fang tweeted that customer deposits are safe and USD withdrawals are not affected.

[ Consensus 2023](https://consensus.coindesk.com/), CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. CoinDesk is an independent operating subsidiary of [Digital Currency Group](https://dcg.co/), which invests in [cryptocurrencies](https://dcg.co/#digital-assets-portfolio) and blockchain [startups](https://dcg.co/portfolio/). [strict set of editorial policies](/ethics/). As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of [stock appreciation rights](https://www.investopedia.com/terms/s/sar.asp), which vest over a multi-year period. If this weekend has told us anything, it's the significance of the future that we are building.” “We've been through much worse times since our inception.

The failure of two regional US banks, Silicon Valley Bank and Signature Bank, had negative consequences for Asian markets.

March 13 - * OKCOIN HAD NO EXPOSURE TO SVB; SIGNATURE IS OUR PRIMARY USD BANK FOR CUSTOMER TRANSACTIONS - OKCOIN CEO TWEET * OKCOIN USD DEPOSIT BY WIRE AND.

Two days after tech and startup-focused lender Silicon Valley Bank was shuttered by authorities, New York-based Signature Bank faced a similar fate.

Among the important measures taken was a new facility to give banks access to emergency funds. The US Fed’s next policy meeting is scheduled later this month, but analysts at Goldman Sachs no longer expect a rate hike, as the country’s banking sector faces a stress test. "If US Fed Chair Jerome Powell lifts interest rates next week, he will jeopardise this situation. Two days after tech and startup-focused lender Silicon Valley Bank was shuttered by authorities, New York-based Signature Bank faced a similar fate. [host of emergency measures](https://www.indiatoday.in/business/story/us-says-depositers-fully-protected-silicon-valley-bank-collapse-2345761-2023-03-13) to boost confidence in the banking system following the sudden failure of the two banks. The sudden collapse of the two banks has put the US Federal Reserve in a tough spot.