The U.S. central bank is pumping more money in to bail out the embattled banking system as the crisis continues. This could be one of the factors driving the war on crypto.
The Federal Reserve’s new emergency bank loan facility just hit $100 billion in usage. The surge in funding for banks is a clear sign that the U.S. banking crisis is far from over.
The new funding program allows banks to “receive par for their devalued assets in secret,” noted market analyst Joe Consorti.
Banking Crisis Not Over
The Bank Term Funding Program (BTFP) was created in March 2023. The aim was to make additional funding available to eligible depository institutions. This would be to help assure banks have the ability to meet the needs of all their depositors, in other words, a banking bailout.
Consorti observed that banks in crisis were using the fund to boost the value of their assets.
“Banks…
