On Friday (March 17), the Bitcoin price continued its “bank collapse” rally, surging another 10% to hit $27,800, the highest level since June 2022.

Gemini Exchange co-founder Tyler Winklevoss described the US banking system as a modern-caste system where the people with the top banks are protected while the rest are exposed to risks.

Crypto exchange Gemini said it held no customer funds or Gemini dollars (GUSD) at Signature in the wake of the bank's closure by regulators on Sunday.

This includes all Gemini products and services, including the Gemini dollar (GUSD).

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Crypto exchange Gemini has denied reports that its banking relationship with U.S. banking giant JPMorgan has ended.

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Gemini disclosed incidents attributed to a third party that resulted in a phishing campaign targeting users in the UK and Europe, according to a client email seen by The Block.

Several cryptocurrency companies have at least temporarily stopped accepting deposits made via Silvergate Bank, as seen in various statements on March 2.

Gemini co-founder Cameron Winklevoss has predicted Asia to be the trigger for crypto’s next bull run as the U.S. opts to take a back seat on innovation.