The bank serves a similar clientele as Silicon Valley Bank, which failed Friday after depositors withdrew about $40 billion.
The nation’s 16th-largest bank failed after its depositors hurried to withdraw money this week amid anxiety over the bank’s health. It is the second biggest bank failure in American history.
The civil complaint says Sam Bankman-Fried diverted customer funds to Alameda Research LLC, his privately-held crypto fund, without telling them.
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