According to Eleanor Terrett, Fed Governor Michelle Bowman, considered for vice chair for supervision, announced her intention to initiate an independent review of the March 2023 bank failures, including SVB, Silvergate, and Signature. This move could impact regulatory measures and influence market stability perceptions, potentially affecting cryptocurrency trading dynamics.

According to @CryptoMichNL, the current economic conditions suggest a crisis potentially larger than the 2008/2009 financial downturn. Given Bitcoin's origins during the last major crisis, it is expected to act as a safe haven in the future, offering protection against bank failures.