Bitcoin breaks $28k barrier amid First Republic Bank’s seizure fears

Quick Take

• First Republic Bank finished trading a whopping 50% lower share price yesterday — closing at $8.26.
• According to FOX News, it is reported that First Republic Bank is expected to be seized by the U.S. government.
• First Republic Bank is looking to offload up to $100 billion worth of long-dated mortgages and bonds to stay afloat.
• Based on this news, Bitcoin (BTC) broke $28,000 — up over 4% in the past five days.
• Gold also caught a bid, while U.S. equities slumped into negative territory.

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