Two major crypto-friendly banks announced their shutdown last week, Silvergate Bank and Signature Bank. In the case of Signature Bank, the FDIC officials alongside the Fed took the decision to shut down stating that it would help prevent the contagion from spreading. On Wednesday, March 15, Congressman Tom Emmer wrote a letter to the FDIC chairman Gruenberg seeking answers to questions over the reports that the regulatory is weaponizing the current instability in the US banking system in order to choke legal crypto activity in the United States. (coingape)