Signature Bank (SBNY) primarily failed due to contagion that spread from other recently collapsed financial institutions, according to the U.S. Federal Deposit Insurance Corporation (FDIC). The FDIC says in a new report that the self-liquidation of Silvergate Bank and the failure of Silicon Valley Bank (SVB) paved the way for Signature’s high-profile implosion last month. The post FDIC Says Signature Bank Cratered Due to Contagion Effects and Failure To Understand the Risks of Crypto appeared first on The Daily Hodl .
