The FDIC, which is responsible for insuring bank deposits in the United States, has refuted recent claims that it is demanding prospective buyers of Signature Bank to completely relinquish the bank’s cryptocurrency-related business.
According to reports from Reuters, which relied on anonymous sources, the FDIC is reportedly looking to sell both Silicon Valley Bank (SVB) and Signature Bank as a package deal.
However, if that proves unsuccessful, the corporation may consider selling the banks in smaller portions.
The FDIC spokesperson cited two joint statements, one of which declares that banks are “not prohibited” from providing services to any industry, including the crypto sector.
The agency representative clarified that the buyer will ultimately inform the FDIC about which of the bankrupt bank’s assets and liabilities they are willing to assume.
The month of March 2023 has been a challenging period for banks that have been operating within the cryptocurrency sphere, with Silvergate, Signature Bank, and Silicon Valley Bank all announcing their discontinuation of crypto-related services.