Crypto Scours Globe for Banks to Replace Collapsed US Lenders

Crypto hedge fund executive Marco Lim spent Monday racing to open bank accounts in Hong Kong after the sudden collapse of three US lenders.

The hedge fund, MaiCapital, is based in the city and had cash at one of the fallen institutions, Signature Bank. MaiCapital needs alternatives and managing partner Lim was pressing lenders to speed up account opening.

“The two biggest crypto friendly banks are gone,” Lim said, referring to Signature and Silvergate Capital Corp., which also had many crypto clients and said Wednesday it would liquidate. “I’ve been through too many crises.”

Silvergate, Signature and ...