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Cryptocurrency Market Reassured

by Natalie Christie

The cryptocurrency market has seen a flurry of activity in recent days, with the US Government stepping in to reassure depositors in Silicon Valley Bank that they will be protected. This news has had a positive effect on the market, with Bitcoin’s price rallying above $22,000 and other altcoins seeing similar gains. The increase has been further bolstered by Binance’s announcement that they will be converting the remainder of their $1 billion Industry Recovery Initiative from BUSD to native crypto, including Bitcoin, Binance Coin, and Ethereum. This move has been welcomed by Binance CEO Changpeng Zhao, who has emphasised the transparency of the process. In light of these developments, the cryptocurrency market looks set to continue its upward trend.

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