U.S. regulators closed New York-based Signature Bank, one of the biggest lenders in the crypto industry, due to risks of a systemic bank failure, the U.S. Treasury Department, Federal Reserve, and Federal Deposit Insurance Corporation (FDIC) said in a joint statement. This follows the closure of Silicon Valley Bank last Friday, which is the largest U.S. bank failure since the collapses of Lehman Brothers and Washington Mutual during the 2008 financial crisis.