The Fed and Treasury created an emergency program to backstop | Dukun Bitcoin

The Fed and Treasury created an emergency program to backstop deposits at both Signature Bank and Silicon Valley Bank using the Fed’s emergency lending authority. All deposits will be made whole. Signature Bank is a crypto-friendly bank. — link

After the release of the Fed news, USDC, DAI, etc. are in the process of re-peg, and USDC has returned to above 0.99 US dollars. The crypto market and U.S. stocks rose sharply, with Ethereum up 8% and Bitcoin up 7%.