U.S. President Joe Biden commented on the major crypto-friendly bank shutdowns on his official Twitter account, committing to holding those responsible for the collapses fully accountable.
Biden's comments came right after successive collapses of Silvergate Bank, Silicon Valley Bank (SVB), and Signature Bank within a week.
Biden also said all the deposits of Americans and the banking system are safe.
- According to the tweet, the Secretary of Treasury and the White House's National Economic Council Director worked with banking regulators to address problems at SVB and Signature Bank with Biden's direction.
- Biden added that he is pleased that the agencies have reached a solution that protects employees, small companies, taxpayers, and the U.S. financial system.
Earlier in March, a White House spokesperson said that the Biden administration was aware of the situation at Silvergate Bank and would monitor the news about the issue while speaking at a press conference.
