Crypto Markets Plunge, Banks Exposed

Cryptocurrency markets, valued at three point two trillion dollars, have seen a significant drop, with Bitcoin falling below ninety thousand dollars. This decline has wiped off one point two trillion dollars in just six weeks. Stablecoins, pegged to the U.S. dollar, are a meeting point between crypto and traditional finance, but their reserves could be strained by redemption requests. Crypto-related stocks are growing, but still represent a small fraction of the overall stock market. Banks are increasingly exposed to the crypto world, with data showing a significant increase in crypto asset custody services in the euro zone.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.