Signature Bank’s collapse may cause serious problems for one corner of the tech industry: the crypto sector. Coinbase Global Inc., the US’s biggest crypto exchange, said that it had a $240 million balance at the bank as of Friday night. Paxos Global said it had $250 million there, and that it “holds private deposit insurance well in excess of our cash balance and FDIC per-account limits.”
“Crypto is almost completely shut out of US banking now,” said Nisa Amoils, managing partner at A100x Ventures.
