$BTC has pared its gains from earlier Monday, but is still up 8% over the past 24 hours as the FDICGov backs up SVB_Financial depositors. LedesmaLyllah reports.
S&P 500 futures: 3,865.75 +0.1%Risky assets pared or reversed early gains during the European trading hours
as shares in San Francisco-based First Republic Bank nosedived in premarket trading in the U.S., reflecting investor angst over the banking sector's health. Bitcoin pulled back to $22,000, after it nearly tested its 50-day simple moving average at $22,900 during Asian daytime hours. The cryptocurrency is still up 8% in the last 24 hourall depositors of Silicon Valley Bank will have full access to their money beginning Monday morning.
HSBC U.K. Bank is acquiring Silicon Valley Bank U.K. for 1 British pound, or the equivalent of $1.21,As of Friday, SVB U.K. had loans of around $6.6 billion and deposits of around $8.1 billion, the filing read."This acquisition makes excellent strategic sense for our business in the U.K.," HSBC CEO Noel Quinn said.
The premium reflects investor preference for USDT over USDC, which fell into a discount over the weekend.
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