Tag: US Supports Banking Sector

[ad_1] Bitcoin jumped the most of almost a month after US authorities sought to stem concern about the health of the nation's financial system. The largest cryptocurrency gained as much as 5.3% to $21,582, the biggest increase since Feb. 15, after US agencies pledged to fully protect all depositors' money following the collapse of Silicon Valley Bank while also giving any banks squeezed for cash easier terms on short-term loans. Signature Bank was closed by New York state financial regulators, while saying depositors will have access to their money.“The Federal Reserve's rescue plan has bolstered market confidence and allayed concerns about the potential collapse of additional players, particularly given that Signature is a major bank within the crypto industry,” said Rachel Lin, co-fo...