Cryptocurrency prices stumbled Wednesday along with the stock market as Credit Suisse plummeted in the latest chapter of the banking crisis.

Cryptos rallied Tuesday as regulators made moves to contain potential contagion. Bitcoin and Ethereum retreated Wednesday after skyrocketing to their highest levels in months Tuesday.

On Sunday, Signature Bank was shuttered by state regulators and turned over to FDIC control. Roughly 30% of Signature Bank’s deposits came from crypto customers.

Over the weekend, the stablecoin USD Coin briefly lost its peg to the dollar and fell to 86 cents on Saturday. USDC rebounded to reclaim its government peg Monday.

The US Federal Reserve announced a US$25B fund to support liquidity-troubled banks.

South Korea launched a Metaverse Fund and SWIFT saw positive results in its pilot test of linking different CBDCs.

Last week’s crypto market prices were down -7.46%. Volume and volatility increased by +28.20% and +62.80%, respectively. Bitcoin was flat at -0.3% while Ethereum rose slightly by +2.5% in the past seven days.