The feds shut down New York-based Signature Bank to protect investors following the collapse of the Silicon Valley Bank.

Signature Bank is a big cryptocurrency lender in New York. On Sunday, the Federal Deposit Insurance Corporation (FDIC) took over its assets worth more than $110 billion and more than 88 billion in deposits.

Signature is now the third largest bank to fall into financial failure in U.S. history.

On Friday, the second largest bank to go belly up sent shockwaves from California. Silicon Valley Bank, which catered to the tech industry started selling assets last Wednesday to balance its books. Instead, panic took over as customers and investors demanded their money. The FDIC had to step in to contain the fire.

U.S. Treasury Secretary Janet Yellen was adamant on Sunday that banks are not going to be rescued again by taxpayers.

“During the financial crisis, there were investors and owners of systemic large banks that were bailed out. We’re not going to do that again,” said Yellen.

Financial regulators are assuring Mom and Pop customers on Main Street will not get burned.

Lindsey Michaelides runs a small business in Ohio.

“It’s really easy to think that the impact of this is very limited to Silicon Valley in the Bay Area and it couldn’t be further from the truth,” Michaelides said.

The race is now on to find a buyer for Silicon Valley Bank.

Silicon Valley Bank may be the first domino to fall – clearly it is not the last. 48 hours later Signature has collapsed. Authorities are now scrambling to contain the crisis and keep the dam from bursting.