It has been a wild ride in the crypto world, with some major events impacting the market. Buckle up, because we're about to take a dive into what's been going on. First of all, let's talk about Bitcoin's crazy price movements over the last few days. The BTC price lost 11% in just a few hours, causing some panic among investors. But only a few hours later we quickly pumped back up by 24%. That's the crypto world for you - never a dull moment!

In last news, Silicon Valley Bank went bankrupt. This caused some chaos among depositors and a drop in the share price of the tech-focused lender. Circle, the issuer of the second largest stablecoin USDC, has part of its assets in this very bank, which led to USDC getting depegged and trading below 0.85 USD! It was not clear what would happen next, although I also said publicly that I would wait for Monday and for the decisions of the authorities, since it was not a issue of that the money is there or not, but an issue of liquidity.

And this was a good idea, since the U.S. government and financial regulators came to the rescue, announcing emergency measures to protect all depositors and ensure access to their funds. It's good to see that there are safety nets in place to safe customers of the bank(s), but it only shows why crypto is so important. There you own your money - not the bank!

Speaking of safety nets, the Federal Reserve launched a new program called "Bank Term Funding Program" to rescue all lost deposits in closed banks (I explained it in easy words in our Discord server). This move is mildly inflationary, as it replaces illiquid money in most cases, rather than creating new money. However, the signal effect is clear that the Fed is willing to reverse course and intervene to protect the economy and financial system.

Despite these events, the crypto world remains an exciting and ever-changing place. We're here to help you navigate the market and make informed investment decisions. Remember, our vision at CryptoExplorer is to make crypto accessible for everyone, no matter how much time, capital, or knowledge you have.

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Stay safe!