BF55 - Weekly Bitcoin News - 3/12/23

Weekly market recap / outlook and weekly Bitcoin news:

• Banks Down?  That's why Bitcoin was created.
• Treasury Secretary rules out government bailout of SVB
• SVB under FDIC auction as calls for bailout grow
• Circle issues update:  prepared to stand behind USDC
• USDC vol lifts Bitcoin Coinbase premium to 3 year high
• Who failed SVB depositors?
• Joint statement by Treasury, Federal Reserve and FDIC
• Check out this week's blog post "Silicon Valley Bank Closure - Shades of the 2008 GFC"

Substack: Bitcoin Fortress

Twitter: Bitcoin Fortress

Books: Amazon Author Page

 

Mentioned in this week's Podcast:

https://cointelegraph.com/news/banks-down-that-is-why-bitcoin-was-created-crypto-community-says

https://news.bitcoin.com/us-treasury-secretary-rules-out-government-bailout-of-silicon-valley-bank/

https://news.bitcoin.com/report-silicon-valley-bank-under-fdic-auction-as-calls-for-bailout-grow/

https://news.bitcoin.com/circle-issues-update-amid-stablecoin-volatility-firm-is-prepared-to-stand-behind-usdc-and-cover-any-shortfall/

https://www.coindesk.com/markets/2023/03/12/usdc-volatility-lifts-bitcoins-coinbase-premium-to-3-year-high/

https://www.coindesk.com/consensus-magazine/2023/03/10/who-failed-silicon-valley-bank-depositors/

https://www.federalreserve.gov/newsevents/pressreleases/monetary20230312b.htm

https://bitcoinfortress.substack.com/p/silicon-valley-bank-closure