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'Old-school' Signature Bank collapsed after its big crypto leap

Bloomberg
Bloomberg • 11 min read
'Old-school' Signature Bank collapsed after its big crypto leap
Signature Bank was the third-largest bank failure in the US ever, behind Washington Mutual in 2008 and Silicon Valley Bank’s collapse. Photo: Bloomberg
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Signature Bank was flying high when co-founder Scott Shay mused about success on a podcast early last year.

The best decision he ever made, he told the host, was sticking close to the company as it grew ever larger. His advice: Always learn from your failures.

“They become part of you,” he said. “And if you go in the wrong direction, you can become incapacitated by them.”

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