Signature Bank was not shut down for crypto-related reasons, the New York Department of Financial Services said Tuesday, rejecting claims that the regulator took over the bank to send an "anti-crypto message."

"The decisions made over the weekend were not crypto related," the spokesperson said. "Signature was a traditional commercial bank with a wide range of activities and customers, including small businesses like food vendors at Hunt’s Point, residential mortgage banking, commercial real estate, to name a few. DFS has been facilitating well-regulated crypto activities for several years, and is a national model for regulating the space."