• Bitcoin price increased 8% after FDIC announced that all Silicon Valley Bank customers will have full access to their money.
• Shares in San Francisco-based First Republic Bank (FRC) nosedived in premarket trading, reflecting investor angst over the banking sector’s health.
• Jenny Johnson, President and CEO of Franklin Templeton, will discuss developing crypto-linked investment products in a bear market.

Bitcoin Price Increases as FDIC Steps In for Silicon Valley Bank

The latest price moves in crypto markets saw bitcoin gain 8% after the Federal Deposit Insurance Corp. (FDIC) said all depositors of Silicon Valley Bank will have full access to their money beginning Monday morning. The FDIC has confirmed a successful transfer of deposits to a new bridge bank called Silicon Valley Bank N.A., which will be operated by the FDIC.

Shares in FRC Drop Amid Investor Angst Over Banking Sector Health

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.

Silicon Valley Bank Customers Have Full Access to Funds

Silicon Valley Bank is used by many tech companies, an area that includes crypto startups. The customers now have full access to their funds due to FDIC’s move to set up the new bridge bank with deposits from Silicon Valley Bank moved to it successfully on Monday morning.

Jenny Johnson Discussing Crypto Investment Products

Jenny Johnson, President and CEO of Franklin Templeton, will discuss developing crypto-linked investment products in a bear market; including her views on the mood among her clients and her long-term outlook for digital asset markets and investments linked to them