Signature Bank 2nd US Bank to be Shut Down

After silicon velly bank collaspe another US bank had been collasped which is Signature Bank

New York based Signature Bank was shut by regulators in the US, becoming the second in the contry after Silicon Valley Bank

One of the most prominenet leaders in the world of technology startups

The Silicon Valley Bank, which was struggling, collapsed on Friday, foreing the US fedwral govt to step in.

Signature Bank is one of the main banks to the cryptocurrency industry

Signature Bank had 40 branches across the country - New York, California, Connecticut, North Carolina and Nevada

The Federal Deposit Insurance Corporation, the entity that seized Silicon Valley, insures deposits only upto $250,000.