🔥NEWS
US Economy Now Has:
👉63 banks on the brink of default according to the FDIC
👉Over $500 BILLION of paper losses held by banks
👉Declining GDP growth with rising inflation
👉Over 50% of Americans believe we are in a recession
👉Lowest mortgage demand in over 30 years
👉A record $17.7 trillion in total household debt
🤔How this news is going to affect the crypto world:
👉Flight to Safety:
Investors concerned about the stability of traditional financial institutions and the overall economy may seek alternative assets as a hedge against economic uncertainty. Cryptocurrencies, particularly Bitcoin, are often seen as a store of value and a hedge against traditional market risks. Therefore, we might see increased demand for cryptocurrencies from investors looking to diversify their portfolios and protect their wealth.
👉Increased Interest in Decentralized Finance (DeFi):
The growing instability in traditional banking could further fuel interest in decentralized finance (DeFi) platforms and cryptocurrencies. DeFi offers alternative financial services such as lending, borrowing, and trading without the need for traditional intermediaries like banks. Investors may view DeFi as a more resilient and transparent alternative to traditional banking systems.
