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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Joint statement of Treasury, FDIC and Federal Reserve saying that a systemic risk exception is being made to make all depositors of SVB and Signature Bank whole.

https://www.federalreserve.gov/newsevents/pressreleases/monetary20230312b.htm[/quote]

"No losses associated with the resolution of Silicon Valley Bank will be borne by the taxpayer ... senior management has been removed."[/quote]

https://www.federalreserve.gov/newsevents/pressreleases/monetary20230312a.htm
"banking system to safeguard deposits and ensure the [b]ongoing provision of money and credit to the economy.[/b]

The Federal Reserve is prepared to address any liquidity pressures that may arise.

The additional funding will be made available through the creation of a new Bank Term Funding Program (BTFP), offering loans of up to one year in length to banks, savings associations, credit unions, and other eligible depository institutions pledging U.S. Treasuries, agency debt and mortgage-backed securities, and other qualifying assets as collateral. "

And this making good for depositors and providing money and credit resulted in positives for the crypto industry.  Euphoric is a word used by Luna.
https://www.cnbc.com/2023/03/13/bitcoin-btc-crypto-prices-surge-as-svb-depositors-protected.html

Signature Bank-heavy in crypto-gets the same deal.

[/quote]

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