Metropolitan Commercial Bank is nearing completion of its exit from the cryptocurrency market, with only $278.5 million in crypto-related deposits remaining. The bank's parent company, Metropolitan Bank Holding, announced the termination of crypto-related services in January due to recent industry developments and regulatory pressure.

The bank had four crypto clients, accounting for 1.5% of its total revenue and 6% of its total deposits.Other US banks have been cautious about serving the crypto industry following the collapse of Silvergate Bank, Silicon Valley Bank, and Signature Bank.