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TechFlow News, according to CoinDesk, New York Community Bank (NYCB), whose division took over the non-crypto-related deposits from the defunct Signature Bank, saw its stock price drop by 42% today.
NYCB had previously acquired Signature Bank and was one of Circle’s eight banks responsible for holding cash and Treasury reserves.
The bank reportedly failed to meet profit expectations and cut its dividend.
CoinDesk reported that New York Community Bancorp (NYCB), whose division took over the non-crypto-related deposits of the defunct Signature Bank, saw its stock price drop by 42% today. NYCB had acquired Signature Bank and was one of Circle's eight cash and Treasury reserve custody banks. The company reportedly missed profit expectations and cut its dividend.
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