{"id":1887004,"date":"2023-03-14T16:28:21","date_gmt":"2023-03-14T20:28:21","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/svb-collapse-crypto-stages-massive-rally-in-wake-of-bank-failures\/"},"modified":"2023-03-14T16:32:21","modified_gmt":"2023-03-14T20:32:21","slug":"svb-collapse-crypto-stages-massive-rally-in-wake-of-bank-failures","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/svb-collapse-crypto-stages-massive-rally-in-wake-of-bank-failures\/","title":{"rendered":"SVB collapse: Crypto stages massive rally in wake of bank failures"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fsvb-collapse-crypto-stages-massive-rally-in-wake-of-bank-failures%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1887004&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47-->\n<div class=\"RichTextArticleBody-body\">\n<div class=\"Enhancement\">\n<div class=\"Enhancement-item\">\n<div id=\"Brid_78748495\" class=\"brid\" style=\"width:16; height:9;\" itemprop=\"video\" itemscope itemtype=\"http:\/\/schema.org\/VideoObject\">                <meta itemprop=\"name\" content=\"SVB collapse Explainer\">               <meta itemprop=\"description\" content=\"Silicon Valley Bank collapsed on Friday, followed by New York-based Signature Bank on Sunday, with shares of San Francisco-based plummeting by more than 70% on Monday. Though the Biden administration has said it will not bail out banks, it will fully guarantee deposits in SVB, which Republicans have described as being a very similar move in practice.\">               <meta itemprop=\"duration\" content=\"PT2M14S\">               <meta itemprop=\"uploadDate\" content=\"2023-03-13 22:50:52\">               <meta itemprop=\"thumbnailURL\" content=\"https:\/\/cdn.brid.tv\/live\/partners\/19383\/snapshot\/1261953_th_1678748157.jpg\">               <meta itemprop=\"contentUrl\" content=\"https:\/\/cdn.brid.tv\/live\/partners\/19383\/sd\/1261953.mp4\">              <\/div>\n<p>               <script type=\"text\/javascript\"> var _bp=_bp||[]; _bp.push({ \"div\": \"Brid_78748495\", \"obj\": {\"id\":\"27789\",\"width\":\"16\",\"height\":\"9\",\"video\":\"1261953\"} }); <\/script>               <script type=\"text\/javascript\" async src=\"https:\/\/services.brid.tv\/player\/build\/brid.min.js\"><\/script>              <\/div>\n<\/p><\/div>\n<p><a class=\"Link\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/bitcoin\" target=\"_blank\" rel=\"noopener\">Bitcoin<\/a> <span class=\"ArticlePage-articleBody-firstLetter\">A<\/span>Other <a class=\"Link\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/cryptocurrency\" target=\"_blank\" rel=\"noopener\">cryptocurrencies<\/a> During this time, they have made huge gains <a class=\"Link\" href=\"https:\/\/www.washingtonexaminer.com\/policy\/economy\/contagion-regional-banks-distress-svb-collapse\" target=\"_blank\" rel=\"noopener\">The fallout<\/a> Silicon Valley Bank <a class=\"Link\" href=\"https:\/\/www.washingtonexaminer.com\/policy\/economy\/silicon-valley-bank-fails\" target=\"_blank\" rel=\"noopener\">collapse<\/a>. <\/p>\n<p>Bitcoin surged amid rising fears about the bank system. Bitcoin hit $26,400 on Tuesday. This is a staggering 34% rise from Friday&#8217;s implosion at SVB. Ethereum had similar gains, reaching $1,780 earlier on Tuesday \u2014 29% higher than Friday&#8217;s trough. <\/p>\n<p><b><a class=\"Link\" href=\"https:\/\/www.washingtonexaminer.com\/policy\/economy\/svb-collapse-bailed-out-debate\" target=\"_blank\" rel=\"noopener\">SVB COLLAPSE: WAS THIS A BAILOUT<\/a><\/b> <\/p>\n<p>Bitcoin evangelists claim that cryptocurrency and other blockchain-based technologies are a safer alternative to traditional banking systems that are susceptible to problems such as the one that struck SVB. <\/p>\n<p>Bitcoin is also immune to the bank run that many were afraid would occur on Monday, if the federal government didn&#8217;t rush in to make sure all SVB clients got their money back. People would rush to withdraw their money at a rate that could lead to a financial crisis if that happened. <\/p>\n<p>Social media was used by crypto apologists to promote digital assets as being resilient in the midst of banking chaos. <\/p>\n<p>&#8220;We are seeing a huge flow of new customers. People are realizing the importance of sound money with no counterparty risk,&#8221; crypto exchange River Financial tweeted. <\/p>\n<p>Another crypto enthusiast called it the rise a &#8220;historic pump&#8221; Tweeted that Bitcoin offers a &#8220;safe harbor to those fleeing debasement and counterparty risk.&#8221; <\/p>\n<div class=\"Enhancement\">\n<div class=\"Enhancement-item\">\n<div class=\"TweetUrl\">\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">This pump is an historic one.<\/p>\n<p>Forget about the price. Bank stocks are free to fall on a day like today. <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> Offers safe harbour to those fleeing debasement, counterparty risk.<\/p>\n<p>Satoshi&#8217;s invention works as it was intended. <a href=\"https:\/\/t.co\/9GgNdc3Dtg\">pic.twitter.com\/9GgNdc3Dtg<\/a><\/p>\n<p>\u2014 Stack Hodler (@stackhodler) <a href=\"https:\/\/twitter.com\/stackhodler\/status\/1635292155282599937?ref_src=twsrc%5Etfw\">March 13, 2023<\/a>               <\/p><\/blockquote>\n<p>                <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>               <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>John Berlau is a senior fellow at the Competitive Enterprise Institute and director of finance policy. <i>Washington Examiner<\/i> The SVB collapse may mean that inflation could persist for longer. Because of the volatility of the market, the Fed will likely avoid more aggressive rate hikes. This could mean that prices may remain high for longer. <\/p>\n<p>One week ago, investors were expecting a more aggressive rate increase. CME Group&#8217;s FedWatch Tool calculates the probability of no rate rise using futures contracts prices. The tool is used by Fed officials to estimate the probability of no rate increases. <\/p>\n<p>Tuesday&#8217;s consumer prices index report, which tracks prices over the past month, came back lighter than usual. The inflation rate was 6.4% in the previous month, but has dropped to 6% now. The persistently falling inflation would lend credibility to lower rate hikes. <\/p>\n<p>Moody&#8217;s Investors Service has changed its outlook on the U.S. bank system from stable, to negative, on Tuesday. <\/p>\n<p><b><a class=\"Link\" href=\"https:\/\/www.washingtonexaminer.com\/\" target=\"_blank\" rel=\"noopener\">CLICK HERE TO READ MORE ABOUT THE WASHINGTON EXAMINER<\/a><\/b> <\/p>\n<div id=\"dsk-banner-ad-g\"><\/div>\n<p>&#8220;We have changed to negative from stable our outlook on the U.S. banking system to reflect the rapid deterioration in the operating environment following deposit runs at Silicon Valley Bank (SVB), Silvergate Bank, and Signature Bank (SNY) and the failures of SVB and SNY,&#8221; Moody&#8217;s reported on the matter. <\/p>\n<p>It stated that it is currently examining half a dozen other banks in order to determine if they should be downgraded.<\/p>\n<\/p><\/div>\n<p><\/p>\n<hr>\n<p>&#8220;Read more from <a href=\"https:\/\/www.washingtonexaminer.com\/policy\/economy\/svb-collapse-crypto-massive-rally\">SVB collapse: Crypto rallies in the wake of bank failures<\/a>&#8221;<\/p>\n<hr>\n<p><span style=\"font-size:11px\"><em>&#8220;The views and opinions expressed here are solely those of the author of the article and not necessarily shared or endorsed by Conservative News Daily&#8221;<\/em><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin and other cryptocurrencies have been notching huge gains during the fallout from Silicon Valley Bank\u2019s collapse. Bitcoin surged as the fears about the banking system rose. Bitcoin reached as high as $26,400 on Tuesday, a stunning 34% increase from before SVB\u2019s implosion on Friday. Ethereum had similar gains, reaching $1,780 earlier on Tuesday \u2014<\/p>\n","protected":false},"author":1,"featured_media":1897178,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[538],"tags":[5373,7385,6987,8853,5908,4433,16999,21356,7803],"class_list":["post-1887004","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-washington-examiner","tag-bank","tag-collapse","tag-crypto","tag-failures","tag-massive","tag-rally","tag-stages","tag-svb","tag-wake"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1887004","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1887004"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1887004\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1897178"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1887004"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1887004"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1887004"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}