Silicon Valley Bank ablaze: Joe Biden will do ‘whatever is necessary’

Silicon Valley Bank ablaze: Joe Biden will do 'whatever is necessary'

To the rescue of US investors – While the American banks are in the embarrassment, the American president Joe Biden spoke today, March 13, about the banking crisis that threatens the country.


Joe Biden facing the American banking crisis

The regulation has put in place emergency measures this weekend, making it possible to save the furniture for the American banks. However, awaited by all, the opening of the banks this Monday, across the Atlantic, is already starting to make ink flow.

In effect, THE banking stocks have suffered a slump :

  • First Republic Bank fell 65.1%;
  • Western Alliance Bancorp plummets 75.9%;
  • Charles Schwab loses 19%.

The major US banks are no exception. JP Morgan Chase, Morgan Stanley and Bank of America also saw their share prices fall. In this sense, Joe Biden wished to reassure Investors :

“Americans can be sure that the banking system is safe. Your deposits will be there when you need them. »

While a sense of contagion worries the world of traditional finance, and even though Circle’s USDC saw some heckling over the weekend, note bitcoin strength which, in the face of this banking disaster, continues to be resilient.

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