Crypto investment products see largest outflows on record amid SVB collapse

, a financial institution with deep ties to crypto-focused venture capital funds. Although the bank was allowed to fail, the Federal Reserve, U.S. Treasury and Federal Deposit Insurance Corporation confirmed over the weekend they would guarantee all SVB deposits.

The resolution to the SVB collapse seems to have shored up confidence in the crypto sector, leading to broad market rallies for Bitcoin and other crypto assets. Bitcoin’s price reached as high as $24,639 on March 13 after falling below $20,000 last week, according to data from

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Bitcoin jumps 10% with crypto market topping $1 trillion as U.S. creates backstop for SVB depositorsCryptocurrencies rallied on Monday as the U.S. government moved to protect depositors of the collapsed Silicon Valley Bank and HSBC bought the bank's U.K. arm. That just the beginning Hehe.. Siuuuu 🚀🚀 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
Source: CNBC - 🏆 12. / 72 Read more »