FDIC: Almost all deposits related to digital assets at Signature Bank are not insured

ChainCatcher News, the investigation by the Federal Deposit Insurance Corporation (FDIC) into the collapse of Signature Bank found that its cryptocurrency deposits posed risks. Before its collapse, Signature Bank managed $110 billion in assets, with nearly all deposits related to digital assets being uninsured.

The FDIC stated that the management of Signature Bank did not understand the inherent risks of uninsured deposits and was not prepared for a bank run. (Source link)