.firstcitizens agreed to buy Silicon Valley Bank's deposits, and $BTC held its ground over the weekend, up 1% in the last 24 hours. LedesmaLyllah reports.
failed Silicon Valley Bank, an institution that catered to tech startups, including crypto firms. Bloomberg had initially reported that a deal was nearing completion and could be announced as early as Monday morning. In a statement, the FDIC said that all depositors of Silicon Valley Bridge Bank, the bridge bank set up by the FDIC after the collapse of Silicon Valley Bank, will automatically become depositors of First-Citizens Bank & Trust Co. .
The cryptocurrency stayed in a range of between $27,000-$28,000 through the weekend after almost reaching $30,000 earlier last week. Simon Peters, an analyst at trading platform eToro, said in a note Monday morning that a short-term pullback is possible. Ether was down slightly in the past 24 hours to about $1,700. European stocks opened higher on Monday as investors hope for an end to banking volatility. U.S. equity futures also edged higher.
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