Daily Crypto Briefs 
NEW YORK, Feb. 1, 2026
The FDIC said Illinois regulators closed Chicago-based Metropolitan Capital Bank & Trust on Jan. 30, 2026, after the bank reported $261.1 million in assets as of Sept. 30, in the first U.S. bank failure of 2026.
The agency said it was appointed receiver and that First Independence Bank agreed to assume substantially all deposits, with the failed bank’s sole office scheduled to reopen under First Independence on Feb. 2, according to the FDIC’s press release.
Another US bank failure by March 31? Live
Market snapshot: The FDIC said the bank reported $212.1 million in deposits as of Sept. 30, and that First Independence agreed to purchase about $251 million of assets. The FDIC also preliminarily estimated a $19.7 million cost to the Deposit Insurance Fund.
The FDIC said customers would have “immediate access to their insured deposits” and could use checks, ATMs, and debit cards, according to the agency’s announcement. Details on what caused the failure were not disclosed in the FDIC release.
The closure put fresh attention on how quickly confidence can become a funding problem for smaller institutions. The FDIC’s Failed Bank List shows Metropolitan Capital Bank & Trust as the first bank to fail nationwide in 2026, but the agency’s initial posting is focused on resolution mechanics rather than a post-mortem.
The episode has also fed into crypto’s core argument about access and counterparty risk: bitcoin held in self-custody is not a claim on a bank’s balance sheet, even if the asset itself remains volatile.
Metropolitan Capital Bank failure: FDIC deal terms and deposit access
The FDIC said it entered a purchase-and-assumption agreement with First Independence Bank (Detroit, Michigan) to assume substantially all deposits of Metropolitan Capital Bank & Trust.
Under the structure described by the FDIC, First Independence purchases a large portion of the failed bank’s assets while the FDIC retains the remaining assets for later disposition. That setup is designed to keep day-to-day banking access working while the receiver unwinds the failed institution.
For customers, the near-term checklist is operational. The FDIC said depositors could use checks, ATMs, and debit cards immediately, and that the branch would reopen under the assuming bank on Feb. 2.
Some of the most important questions tend to come later. The FDIC’s release did not break out uninsured deposit totals or provide a detailed timeline for remaining asset sales, and the final cost to the insurance fund can change as recoveries are realized.
Readers can confirm the receiver appointment, contact details, and transaction summary in the FDIC’s Failed Bank List entry.
Why bank failures bleed into crypto markets and stablecoin politics
Bank failures illustrate how access can be mediated by institutions and resolution processes, even when insured deposits are protected.
Now let’s contrast that with self-custody. If you control the private keys, there is no bank in the middle that can fail and interrupt access, though users take on other risks such as lost keys, scams, and poor backup practices.
The story also overlaps with the fight over stablecoins and yield. Banking groups have argued that stablecoin rewards and “yield” products could accelerate deposit outflows, raising bank funding costs and tightening credit. In that framing, the same dynamic that makes a bank fragile during stress, confidence and deposits, can also be pressured by new rails that offer a more attractive cash-like return.
Prediction markets have been pricing that anxiety in real time. The Polymarket contract linked above was showing 20% odds of another U.S. bank failure by March 31 at the time of writing, a signal that some traders still see non-zero stress risk even after this resolution.
At the same time, stablecoins and custody services remain dependent on banks for reserve custody, settlement, and access to payment systems. That dependence is why banking-policy shifts can move “crypto” even when the headline is a traditional bank closure. For a plain-English primer on how banks position around dollar tokens and custody rails, see Banks Want Your Stablecoins.
If you banked with Metropolitan Capital Bank & Trust, the FDIC advises customers to rely on official FDIC resources and to be cautious of scams impersonating the bank, the assuming institution, or the FDIC.
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Primary sources and further reading
| Source | Title |
|---|---|
| | FDIC: Failed Bank List (Metropolitan Capital Bank & Trust entry) |
| | FDIC press release (Jan. 30, 2026): First Independence Bank assumes deposits |
| | FDIC: Failed Bank List (master list) |
| | Polymarket |
Fact-checked by: Daily Crypto Briefs Fact-Check Desk
Frequently Asked Questions
Is this the first U.S. bank failure of 2026?
Yes. The FDIC’s Jan. 30, 2026 press release states Metropolitan Capital Bank & Trust is the first bank to fail in the nation in 2026.
Can depositors access their money immediately?
The FDIC said customers have immediate access to their insured deposits and can use checks, ATMs, and debit cards, with the branch reopening as a First Independence Bank branch on Feb. 2, 2026.
Does one bank failure mean a systemic banking crisis?
Not by itself. Single failures can happen without system-wide stress, but they still highlight counterparty risk in permissioned financial rails.
Why did this matter to crypto investors?
Banking stress headlines matter to crypto investors because they change risk appetite and refocus attention on counterparty risk. Some investors also frame Bitcoin as an alternative settlement asset during periods of financial stress.