depositors of silicon valley bank sivb will have access to all their money starting monday according to regulators the resolution was made possible through a systemic risk exception following a recommendation from the boards of the fdic and the federal reserve no losses associated with the resolution will be borne by the taxpayer the statement added similar protection has been extended to depositors of signature bank sbny which was closed by its state chartering authority also read cz speculates on government plot to take down banks circle responds to svb fall shareholders and unsecured debtholders will not be protected and senior management has been removed any losses to the deposit insurance fund to support uninsured depositors will be recovered by a special assessment on banks as required by law additionally the federal reserve board has announced it will make available additional funding to eligible depository institutions to help assure banks have the ability to meet the needs of all their depositors the joint announcement led to a major spurt in the prices of major cryptocurrencies with bitcoin btcusd and ethereum ethusd trading up by about 8 other major cryptocurrencies like binance bnbusd and usd coin usdcusd shot up about 4 following the announcement next could government spy on your finances with a digital dollar congressman emmer raises concerns