The crypto reversal occurred after regulators vowed to the collapse of Silicon Valley Bank.
Cryptocurrencies rebounded Monday after President Biden announced plans to limit the fallout from the collapse of two regional banks and the issuer of the USD Coin stablecoin said it remained redeemable with the dollar.
The fall was sparked by concerns on the exposure of Circle — the US firm that issues USDC — to Silicon Valley Bank, which collapsed Friday inBut Monday, Bitcoin rallied nearly 10% to $24,300.40 to recovered from lows the token hit a day earlier.
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