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Signature Bank Shrinks Crypto-Tied Deposits by $8–10B

Crypto-friendly Signature Bank (SBNY) announced that it would shrink its deposits tied to crypto assets by $8 – $10 billion.

SBNY’s decision indicates that the bank might be distancing itself from the crypto industry. SBNY’s CEO Joe DePaolo commented on the decision and said:

“We are not just a crypto bank and we want that to come across loud and clear,”

(By Zeynep Geylan)

Singapore Crypto
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