Signature Bank account closure order
Company: TeraWulf
What the later record shows
Delivered; the record does not say when
The August 2023 10-Q says TeraWulf no longer maintains an account at Signature Bank, and the 2023 10-K says it previously held about $0.9 million there. Neither gives the closure date, so whether it closed on April 5, 2023 cannot be confirmed.
“While we had an account at Signature Bank, the FDIC, the U.S. Treasury, and the Federal Reserve jointly announced that all depositors of Signature Bank would be made whole”
2023-08-13 · TeraWulf 10-Q filed 2023-08-14 View cached copy (2026-09-13)Live source ↗
“The Company no longer maintains an account at Signature Bank. Going forward, there can be no assurance that depositors of a failed bank would be made whole again”
2023-08-13 · TeraWulf 10-Q filed 2023-08-14 View cached copy (2026-09-13)Live source ↗
“The Company previously held approximately $ 0.9 million in accounts with Signature Bank (“SBNY”).”
2024-03-19 · TeraWulf 10-K filed 2024-03-20 View cached copy (2026-09-13)Live source ↗
Checked October 9, 2026 against filings, releases and reporting published after the claim was made. Quotes are verbatim from the linked documents.
The claim, verbatim
TeraWulf's bank accounts in former Signature Bank were ordered closed by FDIC on April 5, 2023; company held approximately $0.9 million in these accounts as of March 30, 2023.
Source (primary)
TeraWulf 10-K filed 2023-03-31 (SEC EDGAR, sec_filing)
View cached copy (2026-09-13)Live source ↗
Quote: “On March 29, 2023, the Company was advised by the FDIC that the Company's bank accounts would be closed on April 5, 2023...As of March 30, 2023, the Company held approximately $0.9 million in the former SBNY accounts”
How we checked this
Checked on October 11, 2026. The cited source supports every part of this claim.
The 10-K reports the FDIC's notice that the accounts would close on April 5, 2023 and the roughly $0.9 million balance as of March 30, 2023.
Confirmed in the source:
- On March 29, 2023, the FDIC advised TeraWulf that its bank accounts at the former Signature Bank would be closed on April 5, 2023
- TeraWulf held approximately $0.9 million in the former Signature Bank accounts as of March 30, 2023
What we did: Read our cached copy of SEC EDGAR (https://www.sec.gov/Archives/edgar/data/1083301/000155837023005301/wulf-20221231x10k.htm) in full (569,235 characters, retrieved September 13, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms TeraWulf 10-K filed 2023-03-31
Quote: “On March 29, 2023, the Company was advised by the FDIC that the Company's bank accounts would be closed on April 5, 2023...As of March 30, 2023, the Company held approximately $0.9 million in the former SBNY accounts”
confirms TeraWulf 10-K filed 2024-03-20
Quote: “The Company previously held approximately $ 0.9 million in accounts with Signature Bank (“SBNY”).”
confirms TeraWulf 10-Q filed 2023-08-14
Quote: “While we had an account at Signature Bank, the FDIC, the U.S. Treasury, and the Federal Reserve jointly announced that all depositors of Signature Bank would be made whole”