Recently Silicon Valley Bank (SVB) has collapsed (on march 10 2023).

This bank was a very popular bank that was used both by regular people, businessmen and CEOs but also startups and tech companies, for example Roblox. Its collapse has also hurt USD Coin (USDC) a little bit, and it fell off price by few cents but it is back up already.  It was the second biggest bank collapse in united states of america.

Signature Bank which also was a big and popular bank in US also collapsed.

Swiss bank Credit Suisse is also on a brink of collapse.

But how will it affect crypto?

As I said before, Silicon Valley Bank already dealt a small hit to the crypto world by disrupting the price of USDC, but also somehow it boosted Bitcoin's price which launched from 19k dollars to 25k$ (24k as of writing this article). If more banks collapse, worried people might take their money from risky assets like cryptocurrencies and tokens which will destroy their price, we will have another crash yet again! But also it may drive some people to crypto for a better financial safety. I know it sounds weird and ridiculous because cryptocurrencies are RISKY AS NOTHING ELSE in the world but also can't be taken from you if you store it in a wallet. There is no way for bitcoin devs to take away your coins even if they want to.