US authorities close New York's Signature Bank

(Patria) - US regulatory authorities have closed Signature Bank, headquartered in New York, CNBC reports.

Signature is one of the main banks in the crypto industry, headquartered in New York, the largest after Silvergate, which announced last week that it would liquidate.

This bank is also one of the victims of the current crisis in the crypto market.

US regulators made the decision to prevent the spread of the banking crisis by closing the bank, which is a major creditor in the crypto industry.

The Ministry of Finance, the Federal Reserve, and the Federal Deposit Insurance Corporation stated in a joint statement last night that they are closing the bank.

Bank regulators announced that Signature Bank clients have full access to their deposits, so they can get their money back.

"All depositors of this institution will be compensated, as in the case of Silicon Valley Bank (SVB), so that no losses will be borne by taxpayers," stated the bank's regulators.

Regulators closed SVB on Friday and seized its deposits, which is the largest bank failure in the US since the 2008 financial crisis and the second largest ever.

The move came days after the institution announced it was experiencing business difficulties.