Crypto investment products see largest outflows on record amid SVB collapse

  • 📰 Cointelegraph
  • ⏱ Reading Time:
  • 15 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 9%
  • Publisher: 51%

Finance Finance Headlines News

Finance Finance Latest News,Finance Finance Headlines

Digital asset investment products lost 10% of assets under management last week, according to CoinShares. (Reporting via forgeforth_)

, 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

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 562. in FİNANCE

Finance Finance Latest News, Finance Finance Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

JPMorgan, PNC among suitors for SVB Financial in deal excluding SVB Bank - AxiosJPMorgan Chase & Co and PNC Financial Service Group Inc are among those in talks about acquiring SVB Financial Group in a deal that would exclude its commercial banking unit Silicon Valley Bank that is currently under U.S. control, Axios reported on Monday citing sources. This is pretty cool and interesting, but no matter what you are doing, don't depend on a single income and if you want to be financially free, invest for tomorrow's future. I've made over $50k in crypto with the help of. 📥👇👇
Source: Reuters - 🏆 2. / 97 Read more »