The Federal Deposit Insurance coverage Company (FDIC) revealed a 63-page report outlining points Signature confronted, attributing its failure to “poor administration,” saying the financial institution closely relied on uninsured deposits, didn’t have sturdy liquidity threat administration practices and maintained poor threat administration usually. These components have been exacerbated by a financial institution run spurred by the collapse of the opposite banks, the report stated. The financial institution servicing the crypto business was additionally cited as a serious threat issue.