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Signature Bank's collapse came stunningly fast, leaving behind the question of whether there was a fundamental flaw in the way it did business — or if it was just a victim of the panic that spread after the failure of Silicon Valley Bank.
Financial watchdogs and the US Justice Department have warned firms handling crypto or related cash to be vigilant in ensuring money flows are for legitimate purposes.
Signature Bank is one of three banks that have been closed or put under FDIC receivership within the last week.
Signature Bank's collapse came stunningly fast, leaving behind the question of whether there was a fundamental flaw in the way it did business.
Justice Department investigators were examining whether the New York bank took sufficient steps to detect potential money laundering by clients.