The notice comes after NYCB’s purchase of most of Signature’s deposits and loans.

After Signature was placed in receivership by the FDIC, the process of bidding for its remaining business operations, as well as the branding associated with the company, kicked off.

The FDIC’s takeover came shortly after the collapse of both Silvergate and SVB. The decision was possibly due to the ongoing investigation into Signature’s dealings, during which Signature Bank representatives could not provide accurate data regarding the deficit incurred after SVB went bankrupt.

Divestment Decided By Bank

At the time, there were rumors that any company that intended to buy Signature Bank had to agree to divest from the crypto industry. Signature Bank, which, alongside Silvergate, provided much of the infrastructure for crypto businesses, was, in reality, not forced to divest from the crypto industry.