[UPDATE] U.S. Regulators Rush to Contain SVB Fallout, As a Second One, Signature Bank Fails

U.S. regulators close crypto-focused Signature Bank as banking crisis spreads.  SVB’s implosion represents the largest bank failure since Washington Mutual in 2008 and the second largest failure ever for a U.S. retail bank. U.S. regulators have closed down New York-based Signature Bank, a big lender in the country’s crypto industry, in a desperate attempt to backstop the banking crisis and quell concerns among customers about the safety of their deposits. The closure of the bank marks another major failure in US banking history, two days after authorities shuttered Silicon Valley Bank in a collapse that experts say has shaken the…