US Bank collapse — Is crypto being targeted?

Crypto-friendly banks in the United States, such as Signature Bank, served the likes of Paxos Trust, Celsius Network and other major crypto firms now suffering due to the recent decisions taken by the Federal Deposit Insurance Corporation (FDIC) and New York State Department of Financial Services.

Silicon Valley Bank (SVB) reportedly handled over $5 billion of funds for a handful of cryptocurrency venture capital funds, including Andreessen Horowitz, Paradigm and Pantera Capital, in recent years.