The Collapse of Two American Banks  A couple of banks collapsed in the US spreading fear in the public. Both Silicon Valley Bank and Signature Bank failed as the SVB, which is a bank seen as a main lender to tech firms, and its assets were seized by the regulators. Also Signature Bank, which had a lot of clients in the crypto field, was shut down by authorities in New York. The assets of both banks were pressured by the increase of interest rates.

Seemingly, President Biden and his government have taken the collapse seriously based on his speech in which he assured the Americans that their money is protected. The speech was attention-catching not only to Americans but to the world too. 

The failure of these two US banks caused worry among investors as  they may think that it will influence other firms as well. Although, small lenders would have to ensure that they are in the safe zone while they have access to adequate cash, the fear still remains. 

This crisis has also left its impact on some industries such as climate tech and medical research industries as SVB plays a crucial role for early-bird businesses besides its partnership to form half venture-backed technology and healthcare firms in the States. The Signature Bank has its own important fingermark in the US economy as well as its collapse.