The show goes on: How Signature Bank’s bailout saved Broadway
While crypto firms and real estate bigwigs were panicking about Signature’s bank run, so too were Broadway’s fat cats.
Cryptocurrency news by Protos · Protos
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Show Notes
Major crypto bank, Signature, experienced major liquidity issues this week following the loss of FTX, subsequently leading to a sharp drop in stock price and a bank-run situation. Among its depositors were real estate and law firms -- but another sector under threat of breaking its leg was New York's musical theater scene.
According to insiders who spoke to Broadway News, Signature bank was a favorite of the Broadway industry. Signature reportedly propped up a significant number of shows, meaning its collapse would lead to dramatic consequences for broadway.
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