Cryptocurrencies rose even after regulators Sunday announced the closure of Signature Bank, the last major crypto bank after Silvergate.
Investors were also betting Monday that the Fed will benow that authorities have stepped in to limit the fallout from SVB and Signature.
"Bitcoin is one of the most sensitive assets to market liquidity, since its 'risk' profile is unencumbered by earnings or ratings concerns," she said.The Treasury, Federal Reserve, and FDIC disclosed in Sunday's joint statement that"Both banks had little diversification," Sylvia Jablonski, CEO and chief investment officer of Defiance ETFs, said of Signature and Silicon Valley Bank.
Crypto prices rose Monday in the face of that closure, despite it adding to fears by crypto investors and entrepreneurs that regulators are crushing the industry by pressuring banks to cut off their businesses.
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