Bitcoin24h $104,164.82+0.17%

Ethereum24h $2,492.02+0.31%

XRP24h $2.15+0.81%

BNB24h $652.48+0.60%

Solana24h $154.00+1.93%

Dogecoin24h $0.1901+1.24%

TRON24h $0.2682+0.15%

Cardano24h $0.6714+1.83%

Sui24h $3.27+0.88%

Hyperliquid24h $32.88+4.09%

Congressional report says crypto didn’t cause bank runs — fear of exposure did

Although banks had minimal crypto exposure, panicked clients pulled out funds and sealed the fate of SVB, Silvergate, and Signature Bank.

The Senate hearing on the collapse of SVB was embarrassing

Instead of addressing banking fears and setting up new rules and regulations, senators were simply looking for good soundbites.

According to Cas Piancey, venture capitalists revealed just how flimsy their values of deregulation were when they abandoned SVB.

An anonymous source claims Coinbase was about to bail out its partner Circle to bring stablecoin USDC back up to $1 during SVB’s bank-run.

Ensuring deposits for two collapsed banks favored by the rich has led the US government into quite the conundrum.