In its email to users, Kraken said the move was made due to changes by Signature, according to Bloomberg. In an email to CoinDesk, Signature noted that it had previously stated as of Feb. 1, it would no longer support any of its crypto exchange customers in buying and selling amounts of less than $100,000. Signature said in December that it would be reducing its exposure to the crypto sector, although not eliminating it entirely.
Kraken Pulling Back From Using Signature Bank: Bloomberg
