It has probably not escaped your notice that America is in the midst of a minor banking crisis. As a result, Silicon Valley Bank and Signature Bank both filed for bankruptcy last week, meaning other parties now have the option to buy their assets. On Wednesday, Reuters said US authorities are asking potential buyers to remove crypto companies from their portfolios, but this is not true.
And there?
Reuters Magazine is generally well established and trusted, but in this case there seems to be a misunderstanding. Reuters said on Wednesday: “Every subscription buyer must agree to unblock all crypto customers.”
The US authorities reacted to this rumor a few hours ago in the form of the Federal Deposit Insurance Corporation (FDIC). “Ultimately, it is up to the buyer to determine the terms of his offer. […] they can specify which assets and liabilities they want to take over from the bank,” a clear FDIC said.
In this sense, the industrial banking segment with Signature Bank seems unconcerned about its banking future for now. It used to look like they desperately needed a new banking partner because potential buyers would have to cut ties, according to Reuters.
Quick clarity
After the collapse of Signature Bank and Silicon Valley Bank, these banks came into the hands of the American FDIC. This is now organizing an auction in which the assets of both banks are auctioned. The FDIC expects to complete all sales before the end of this week.
In that respect, clarity will soon come for the industry, which is very important in these uncertain times. For most of the crypto market, the uncertainty surrounding banks has not been a bad development.
Bitcoin is also trailing again today with an overall gain of 6.95% and is currently reaching a price close to $26,700 USD. Ethereum is also doing well, up 4.85%.
It’s certainly too early to talk about a new bull market at this point, but at least it’s a start. Ultimately, Bitcoin was born out of dissatisfaction with the financial system, and this seems to be drawing many investors to the digital currency right now.
Source: Btc Direct
Barry Siefert is an accomplished journalist and author at The Nation View. He is known for his expertise in the field of cryptocurrency, and has written extensively on the topic. With a background in finance and economics, Barry has a deep understanding of the underlying technology and market forces that drive the crypto industry.
