Bitcoin’s price jumped in a broad-based rally for cryptocurrencies Monday, after US regulators stepped in to bail out customers with money in Silicon Valley Bank.
Major cryptocurrencies stabilised on Monday after U.S. authorities announced plans to limit the fallout from the collapse of Silicon Valley Bank (SVB) and the issuer of the USD Coin stablecoin said it remained redeemable with the dollar.
The cryptocurrency crisis went into high gear early Saturday as Silicon Valley Bank’s (SVB) failure caused some of the industry’s core plumbing to…