These moves by regulators to create a backstop for SVB and protect depositors in these institutions has boosted investor confidence.depositors of SVB will have access to all of their money starting Monday"No losses associated with the resolution of Silicon Valley Bank will be borne by the taxpayer," the regulators said.
"Given the Fed announcement over the weekend of a backstop for banks and specifically Silicon Valley Bank, markets have turned euphoric knowing that depositors' money is safe and a major potential bank run has been averted," Vijay Ayyar, vice president of corporate development and international at crypto exchange Luno, told CNBC via email.
Dogecoin much wow
Dow Futures -135 S & P Futures -5 NASDAQ Futures +25 Huge drop from the last night. The Market still sees systemic problems with the banks. Not enough money to cover all deposits. Bitcoin will be the next to drop! The only safe haven is short term Treasuries
Hehe.. Siuuuu 🚀🚀
That just the beginning