First Mover Americas: Bitcoin Gains as FDIC Steps In for Silicon Valley Bank

First Mover Americas: Bitcoin Gains as FDIC Steps In for Silicon Valley Bank


Risky assets pared or reversed early gains during the European trading hours as shares in San Francisco-based First Republic Bank (FRC) nosedived in premarket trading in the U.S., reflecting investor angst over the banking sector’s health. Bitcoin pulled back to $22,000, after it nearly tested its 50-day simple moving average at $22,900 during  Asian daytime hours. The cryptocurrency is still up 8% in the last 24 hour as the Federal Deposit Insurance Corp. said all depositors of Silicon Valley Bank will have full access to their money beginning Monday morning. after confirming a successful transfer of deposits to a new bridge bank. The new bridge bank, called Silicon Valley Bank N.A., will be operated by the FDIC. Silicon Valley Bank is used by many tech

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