THE HASH: Bitcoin Surges Above $24K as Silicon Valley Bank Customers Will Have Access to Their Money
The most valuable crypto stories for Monday, March 13, 2023.
Bitcoin (BTC) is climbing above $24,000, as the Federal Deposit Insurance Corporation said depositors of Silicon Valley Bank will have full access to their money beginning Monday morning, after confirming a successful transfer of deposits to a new bridge bank. This comes as crypto exchange Binance said it will convert $1 billion worth of Binance USD (BUSD) to bitcoin (BTC), ether (ETH), BNB coin (BNB) and other tokens to support the market.
See also:
Binance Will Convert $1B Worth of BUSD Stablecoin to Bitcoin, Ether, BNB and Other Tokens
USDC Stablecoin Regains Dollar Peg After Silicon Valley Bank-Induced Chaos
Circle Scrambles to Right USDC After Signature Bank Failure
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This episode has been edited by Ryan Huntington. The senior producer is Michele Musso and the executive producer is Jared Schwartz. Our theme song is “Neon Beach.”
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