Bitcoin Surges Above $24K as Silicon Valley Bank Customers Will Have Access to Their Money

Bitcoin (BTC) is climbing above $24,000, as the Federal Deposit Insurance Corporation said 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. This comes as crypto exchange Binance said it will convert $1 billion worth of Binance USD (BUSD) to bitcoin (BTC), ether (ETH), BNB coin (BNB) and other tokens to support the market.

See also:

Binance Will Convert $1B Worth of BUSD Stablecoin to Bitcoin, Ether, BNB and Other Tokens

USDC Stablecoin Regains Dollar Peg After Silicon Valley Bank-Induced Chaos

Circle Scrambles to Right USDC After Signature Bank Failure

This episode has been edited by Ryan Huntington. The senior producer is Michele Musso and the executive producer is Jared Schwartz. Our theme song is “Neon Beach.”

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