Why Signature Bank Stock Fell 11.2% This Week

Why Signature Bank Stock Fell 11.2% This Week

As of noon ET Friday, Signature Bank's (NASDAQ: SBNY) stock price had plummeted by 11.2% this week, according to S&P Global Market Intelligence. Signature Bank, also known as Signature Bank of New York, has been hit harder than most financial institutions this year due mainly to its exposure to the cryptocurrency sector. Signature Bank is one of only a few major banks that serves the crypto industry.