Important Details
- Cryptocurrencies rallied on Monday as the U.S. authorities moved to secure depositors of the collapsed Silicon Valley Lender and HSBC bought the bank’s U.K. arm.
- Bitcoin rose 10% at 3 a.m ET to $22,560.20, its maximum degree in 10 days.
- The U.S. Treasury, Federal Reserve and Federal Deposit Insurance Company stated Sunday that depositors of SVB will have obtain to all of their money commencing Monday.
- HSBC said it experienced agreed to receive the U.K. arm of SVB for £1 ($1.21).
- The U.K. Treasury said Monday that “no taxpayer revenue is concerned, and customer deposits have been shielded.”
