Bitcoin jumped the most of almost a month after US authorities sought to stem concern about the health of the nation’s financial system.
The largest cryptocurrency gained as much as 5.3% to $21,582, the biggest increase since Feb. 15, after US agencies pledged to fully protect all depositors’ money following the collapse of Silicon Valley Bank while also giving any banks squeezed for cash easier terms on short-term loans.
“The Federal Reserve’s rescue plan has bolstered market confidence and allayed concerns about the potential collapse of additional players, particularly given that Signature is a major bank within the crypto industry,” said Rachel Lin, co-founder of SynFutures, a decentralized derivatives trading platform.
Bitcoin had posted its worst week since November as an equity selloff, jitters in the banking sector and an escalating US regulatory crackdown on crypto combine to hurt investor sentiment.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bitcoin leaps higher as US regulators come to banks' aid - TechCentralBitcoin jumped the most of almost a month after US authorities sought to stem concern about the health of the nation’s financial system.
Read more »
What you can watch at the Baxter Theatre for the rest of this monthThe Baxter Theatre Centre is an iconic Cape Town spot for lovers of the performing arts. Sitting at the foot of the mountain on UCT's lower campus, the theatre is known for telling important South African stories.Here's what you can watch this March:
Read more »
Two-month old baby kidnapped during suspected house robbery in DurbanTwo-month old baby kidnapped during suspected house robbery in Durban: A two-month-old baby was kidnapped by armed suspects who robbed his family at their home in Welbedacht West in Chatsworth, south of Durban, on Saturday.
Read more »
Suspect charged with robbing missing German tourist was released on parole for attempted murderOne of five suspects linked to the case of German tourist Nick Frischke, who has been missing for almost a month in Cape Town, was released last year on parole for attempted murder.
Read more »
Three more years — at least — for Helen ZilleThe veteran DA leader will almost certainly clinch re-election as federal council chair at the party congress next month, and does not rule out staying on longer
Read more »