Silicon Valley Bank saved?Usdc at the time of writing 0.9876
Crypto has responded with growth.
"Additional financing will be provided through the creation of a new Bank Term Finance Program (BTFP) offering loans of up to one year to banks, savings associations, credit unions and other eligible depository institutions providing U.S. Treasury bills, agency debt. mortgage-backed securities and other assets qualifying as collateral. These assets will be valued at face value."
"The Treasury Department will provide up to $25 billion from the Exchange Stabilization Fund to support the BTFP."
"Treasury Secretary Yellen, in consultation with the President, approved action to allow the FDIC to finalize its decisions on Silicon Valley Bank (SIVB) and Signature Bank (SBNY) as soon as possible. in a way that fully protects all depositors, both insured and uninsured."
