Crypto banking crisis?
As the U.S. tries to head off a bank run, crypto is quickly running out of places to bank with.
Welcome to The Daily Forkast — March 13, 2023 — presented by Joel Flynn.
In a potentially historic weekend for the U.S. financial system, the Treasury Department, Federal Reserve, and the Federal Deposit Insurance Corporation have banded together to provide a backstop for American Banks. This is after Silvergate, Silicon Valley Bank, and Signature Bank face liquidation or closure.
The U.S. authorities’ move proved to be beneficial for crypto as Bitcoin and Ether gained in Monday trade in Asia, along with the top 10 non-stablecoin cryptocurrencies by market capitalization. But, the question remains — how can crypto bank now?
Join us in this episode of The Daily Forkast as we dive deep into how the U.S. banking crisis impacts crypto.