Signature Bank Collapse Revealed to Send Anti-Crypto Message

• Former congressman Barney Frank openly admits that Signature Bank’s closure was arbitrary and unjustified by regulators.
• Signature Bank is one of the largest U.S. banks to record a massive collapse in recent times; with $118 billion in assets seized by the FDIC.
• Barney Frank believes that this move was part of an “anti-crypto” agenda being pushed by U.S. regulators.

Signature Bank Closure Arbitrary & Unjustified

Former congressman and board member of Signature bank, Barney Frank, has recently asserted that there was „no real objective reason“ that justified the regulatory decision to seize Signature bank on the 13th of March. The U.S Federal Deposit Insurance Corporation (FDIC) also went ahead to seize a staggering $118 billion of Signature bank’s assets from its 40 branches around the country, leaving customers unsure about their deposits and investments.

Barney Frank Believes Regulatory Action Is Anti-Crypto

In an interview with CNBC, Barney Frank expressed his disbelief at the action taken against Signature Bank, as there had been no clear indication of any danger until a deposit run late Friday – which he believes was caused by fear over other collapsed banks such as Silvergate and Silicon Valley Banks – triggered regulatory action. He further suggested that this was part of a larger anti-cryptocurrency agenda being actively pursued by US regulators who are determined to curb crypto involvement within financial institutions:

Regulators Assure Customers Deposits Will Remain Accessible

Despite these events, New York regulators have ensured customers that their deposits will remain accessible during the sale process currently underway for Signature Bank – even though many investors have already begun withdrawing their funds due to uncertainty regarding its future prospects.

Signature Bank Closes 2022 With $110 Billion In Assets

Founded in 2001, Signature Bank is a full-service commercial bank based in New York which closed 2022 with $110.36 billion in assets and $88.59 billion in deposits respectively according to regulatory filings released last year – numbers which further emphasize just how much money has been lost due to its closure at this point in time..

Conclusion: Crypto Agenda Drives Latest Regulatory Actions?

It remains unclear whether or not this latest move from US regulators is indeed driven by an „anti-crypto“ agenda as suggested by former congressman Barney Frank – however it does certainly serve as yet another reminder of just how powerful they can be when it comes to enforcing drastic measures against financial institutions without warning or explanation