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Metropolitan Commercial Bank Is Almost Done Exiting Crypto Business

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Metropolitan Commercial Bank is close exiting from the cryptocurrency industry, with only $278.5 million in crypto-related deposits left. HeleneBraunn reports.

of three of the most prominent banks - Silvergate Bank, Silicon Valley Bank and Signature Bank.

In fact, another bank - Provident Bancorp - blamed the crypto winter as the primary cause for the recent banking crisis."Over the past few months the country has witnessed a chain of events that shook the foundations of the banking industry," wrote co-CEO Joe Reilly and Carol Houle in a dated April 18."These events came on the heels of a cryptocurrency downturn that affected many businesses, including some that we supported through our digital asset lending initiatives," they wrote.

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