Both are seen as stores of value in times of risk, and three banking failures in a week has investors wondering if something is afoot. Moneyweb gold bitcoin
Bitcoin broke above R470 000 in SA and flirted with $26 000 on Tuesday, as investors digested a week of frightful news from the banking sector. First it was the collapse of crypto-enabled bank Silvergate, which went into voluntary liquidation last week. The New York Stock Exchange-listed company announced it would wind down operations and voluntarily liquidate the bank in an orderly manner so that it could repay all deposits.
3 billion locked away in the now-failed SVB, but later announced that those funds would be fully available by Monday this week. Stablecoins like USDC are crypto facsimiles of the US dollar that are backed by real assets such as cash and US treasuries. There have been instances where stablecoins have depegged from the US dollar, usually during times of market panic.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bitcoin jumps most in a month after US pledges supports for banksBitcoin jumped the most of almost a month after US authorities sought to stem concern about the health of the nation’s financial system.
Read more »
Gold gains 1% as investors retreat amid US banking routThe bullion has sprung back to life, with safe-haven flows sending prices close to $1,900, analyst says
Read more »
Electricians positive about business conditions after installation of back-up power | City PressElectricians who install solar power systems are experiencing something of a gold rush, says Eric Putsman, managing director of PV Consult
Read more »
Bitcoin leaps higher as US regulators come to banks' aid - TechCentralBitcoin jumped the most of almost a month after US authorities sought to stem concern about the health of the nation’s financial system.
Read more »
Pan African Resources secures R400m from RMBFunding will go towards construction of gold producer’s Mintails project
Read more »
Gold off its five-week high but steadies above $1,900Collapse of two banks fuels hopes for Fed slowdown
Read more »