Ethereum classic ETC/USD is trading up about 9.49% over the past 24 hours to $19.56. Shares of several popular altcoins are trading higher amid broader cryptocurrency strength.

Crypto could see more sympathy from the broader U.S. market after President Joe Biden reassured Americans on Monday morning about the stability of the financial sector the recent collapse from SVB Finance Group, signature bank And Silvergate Capital Corp.

Our Benzinga team reportedBiden emphasized in his speech that all bank customers will have access to their funds.

“Any customers who have had deposits with these banks can rest assured that they are protected and can access their money starting today,” Biden said. “The taxpayers are not suffering any losses. Instead, the money comes from the fees banks pay into the deposit insurance fund.”

See also: Biden Talks FDIC Bank Takeovers: ‘The Banking System Is Safe’