Signature Bank closed
New York regulators closed Signature Bank on March 12 and the FDIC was appointed receiver. Signature's Signet network had provided real-time dollar settlement used by digital-asset firms, so its closure removed another banking bridge only days after Silvergate announced liquidation.
New York regulators closed Signature Bank on March 12 and the FDIC was appointed receiver. Signature's Signet network had provided real-time dollar settlement used by digital-asset firms, so its closure removed another banking bridge only days after Silvergate announced liquidation.
The institutional mechanism was signet and banking access materially affected Bitcoin businesses. The shift changed how traditional firms, accounting systems, or regulated products could hold or expose clients to Bitcoin, rather than changing the Bitcoin network itself.
The Bitcoin connection ran through signet and banking access materially affected Bitcoin businesses. Second major banking bridge used by crypto firms disappears within days of Silvergate.