SignatureBank seeing massive downtrend in stock devaluation, here's why its outlook is bad
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The perceived strain emanates from the FUD surrounding Silvergate Bank, which unveiled plans to voluntarily fold up its business.has long been rehearsed since the industry started wondering to what extent it has exposure to the bankrupt FTX exchange. The straw that broke the camel's back came when the firm delayed the filing of its financial performance report, citing the need to get its accounting right.
With Silvergate Bank now out of business, there will be a lot of pressure on Signature to see how it can hold the gap in an industry that has been under intense scrutiny from American regulators.
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