Signature has 15% of crypto deposits and a lead stable coin sponsor has an account with SIVB. This stablecoin, USD, is now 87 cents on the dollar. Why a bank would mess with these deposits is beyond me. I presume that this 15% will withdraw and SBNY will make forced asset sales to meet redemptions.
Aside from Silvergate, I can't think of another bank of any size that takes crypto.
Another bank that hits the screen is FRC. It is a growth bank and classified a large percentage of assets as held to maturity. If you mark one asset down in the HTM portfolio, they all get reset. They need capital to grow, but can't sell the HTM.
FRC can't sell HTM and take the capital hit. And since they are growth, they are forced to find expensive capital. This was revealed last October, but is coming home to roost now.