Bitcoin surged in price following the recent collapse of Silicon Valley Bank and Signature Bank, with the banking crisis acting as a springboard event for the world’s largest cryptocurrency, as global investors seek safe haven, alternative currencies.
Indeed, Bitcoin rose as much as 20% as the second and third biggest bank failures in US history spooked investors around the world. The collapse of Silicon Valley Bank (SVB) triggered fears across Wall Street of Read More
Silicon Valley Bank's collapse could have resulted in a broader financial crisis, leaving the authorities no choice but to implement emergency measures.
Regulators in the US said on Monday that SVB's customers would have access to all their deposits, and a new facility has been set up to provide banks with access to emergency funds.
The Fed has also taken action to make it simpler for banks to borrow from the central bank in an emergency.
As I was quoted by City Read More