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News Explorer — Bitcoin Rallies as Silicon Valley Bank Parent Files for Bankruptcy

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Mar 17, 5:33 pm

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Bitcoin Rallies as Silicon Valley Bank Parent Files for Bankruptcy

Bitcoin and other cryptocurrencies have seen a surge in value, while stocks have dropped due to fears of a banking crisis. Silicon Valley Bank's former parent company has filed for Chapter 11 bankruptcy, and other banks have faced similar issues. The Federal Deposit Insurance Corporation's denial of reports that Signature Bank would have to stop doing business with crypto has sparked investor confidence in digital assets, and the Federal Reserve's Bank Term Funding Program could be restarting quantitative easing.

Bitcoin and other cryptocurrencies have seen a surge in value, while stocks have dropped due to fears of a banking crisis. Silicon Valley Bank's former parent company has filed for Chapter 11 bankruptcy, and other banks have faced similar issues. The Federal Deposit Insurance Corporation's denial of reports that Signature Bank would have to stop doing business with crypto has sparked investor confidence in digital assets, and the Federal Reserve's Bank Term Funding Program could be restarting quantitative easing.

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