The Death of a Bank Is on the Line

The FDIC is collecting bids which need to come in by March 17th. Only companies with an existing bank charter will be allowed to look at the bank's financials before submitting their bid. The other condition listed in Reuters article quote, any buyer of Signature must agree to give up all the crypto business at the bank. If another bank acquires STNY and Signet is not included, it is clear that DFS took them down to take Signet, critical crypto infrastructure offline.