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Cryptocurrencies rally despite shutdown of crypto friendly Signature Bank, bitcoin breaks through $24,000 - TL;DR CNBC

Cryptocurrencies rally despite shutdown of crypto friendly Signature Bank, bitcoin breaks through $24,000

Publishing timestamp: 2023-03-13 17:04:33


Summary

Despite the closure of Signature Bank, one of the last major crypto banks in the US, cryptocurrencies surged on Monday. Investors were also betting that the Fed will be less aggressive in raising interest rates now that authorities have stepped in to limit fallout from other banks. However, the closure of Signature Bank has added to fears among crypto investors and entrepreneurs that regulators are crushing the industry by pressuring banks to cut off their businesses. The end of the Silvergate-Signature duo leaves crypto with few "on-ramps" that allow fiat money to flow into crypto assets.


Sentiment: MIXED

Tickers: SISBNYETH.CM=BTC.CM=SIVB

Keywords: bitcoinbitcoin/usd coin metricscryptocurrencymarketssignature banksvb financial groupethereum/usd coin metricsbusiness newstechnologyinvestment strategysilvergate capital corp

Source: https://www.cnbc.com/2023/03/13/cryptocurrencies-rally-despite-shutdown-of-crypto-friendly-signature-bank-bitcoin-jumps-10percent.html


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