The cryptocurrency community cheered recently when many prominent US banks suspended services, 

forcing the FDIC and other regulators to step in to curb the spread. Unfortunately, the crisis has spread to Europe this week, with two of the most recognized brands experiencing major issues.


Credit Suisse was bought by UBS, the largest Swiss bank, for almost $3.3 billion, which was more than 60% less than the former's value a few days before. This fueled another leap up in bitcoin's price movement, 

propelling it to a fresh nine-month high of around $29,000. Another brand that has lately made news is Deutsche Bank, whose stock price fell 10% on Friday and is now down more than 25% in a month.

This Week's Crypto Recap: More Banks in Trouble, the Fed's Newest Interest Rate Increase, and Bitcoin's New 9-Month High


More volatility was expected in the coming days as the Federal Reserve made a decision on interest rate policy. With so many banks in trouble as a result of the record-high interest rates, many analysts expect the central bank will cease rising rates or possibly start cutting them. That was not the case, as the Fed raised key interest rates by another 25 basis points.

This resulted in an instantaneous price decline for Bitcoin and other risky assets. The largest cryptocurrency dropped by $2,000 in hours, although optimistic feeling has recently returned nearly instantaneously. Even Binance's minor troubles on Friday didn't last long, as bitcoin momentarily surpassed $29,000 earlier today, setting another multi-month high.

While fast retracing, it is clear that bitcoin has been on a remarkable run in the last 10 days or so. The Fear and Greed Index indicates the same, with the gauge reaching its highest level in over a year. Market Information

Market Cap: $1,220 trillion | 24H Vol: $67 billion | BTC Dominance: 44.8%

BTC: $28,284 (up 12.2%) | ETH: $1,790 (up 6.2%) | BNB: $325 (down 2%).

This Week's Crypto News You Shouldn't Miss

As UBS agreed to buy Credit Suisse, Bitcoin surged beyond $28,000. As before said, probably the most significant news from the global financial industry in the last decade or so came from Switzerland, 

when the country's largest bank agreed to purchase Credit Suisse, although stockholders may not receive the entire quantity of shares they had before the transaction.

Arbitron (ARB) Has Started Trading: Here's How Much the Airdrop Is Worth. The long-awaited airdrop of Arbitrum's new token took place on Thursday. It arrived with a lot of price swings, as predicted. ARB reached over $9 at one point before retracing to $1.45.

The SEC has issued a Wells Notice to Coinbase for listing unregistered securities. The Securities and Exchange Commission of the United States appears to be tightening its grip on the bitcoin business. This time, the US regulator moved after Coinbase, accusing it of offering unregistered securities and issuing a wells notice.

The Fed raises interest rates by 25 basis points, causing Bitcoin volatility. With the financial crisis in the United States, all eyes were on the Federal Reserve during its second annual meeting on Wednesday. While opinions differed on whether the central bank would continue to raise interest rates,

the decision to raise them by another 25 basis points caused tremendous Bitcoin volatility.

Terra's Do Kwon is said to have been arrested in Montenegro. Following months on the run, Terra's notorious Co-Founder was finally captured in Montenegro on Thursday, according to sources. Soon later, US prosecutors charged him with running a bitcoin scam.

Telegram now accepts Tether (USDT) payments on the Tron network. In terms of crypto acceptance, the massive messaging app Telegram has begun enabling users to send Tether (USDT) to one another on its platform. Surprisingly, stablecoin payment capabilities are now offered solely on Tron.