After a banking bloodbath for the past few weeks, First Republic Bank (FRC) gained 30%. The stock jumped from $12 to $16, but is still down from $120 three weeks ago.

The European stock indices rose despite the ongoing fears of more bank collapses. DAX jumped 1.1%, slowly heading back to 15,000, and STOXX is up 1.4%.

The European stock market digested inflation data negatively. This sent DAX 40, EU 50, and other EU stock indices approximately 2% lower on Friday.

To facilitate the sale of its assets, SVB Financial Group has filed for Chapter 11 bankruptcy protection. This comes days after the US government seized its subsidiary, Silicon Valley Bank.

The fear spread to First Republic Bank, whose stock dropped over 64% pre-market. The stock fell to the lowest level in 11 years. It poses a risk as another potential bank failure.

The euro strengthened against all fiat currencies, supporting the ongoing trends. EUR/AUD jumped 1.5%, while EUR/JPY and EUR/GBP are up 1.2%.

Texas introduced a bill that should protect Bitcoin miners, holders, and developers. The bill explains how Bitcoin made several technological breakthroughs, including blockchain and distributed ledger.

After a banking bloodbath for the past few weeks, First Republic Bank (FRC) gained 30%. The stock jumped from $12 to $16, but is still down from $120 three weeks ago.

Canada’s annual inflation rate dropped to 5.2% from the previous month’s 5.9%. This is the lowest reading since January 2022 and falls short of the market’s projection of 5.4%. Core inflation decreased as well, from 5% to 4.7%.

After Balaji made a bet that Bitcoin would hit $1 million, Strike CEO, Jack Mallers, joined him. This is due to fears of hyperinflation in the US. In the meantime, the fear and greed index reached 16-month highs, bringing euphoria to the crypto market.

Florida Governor Ron DeSantis called for a ban on central bank digital currencies (CBDCs). He pointed out some negative effects, including higher surveillance over citizens or a cap on CBDC holdings.