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Emin Gün Sirer, founder of Avalanche, was appointed to the advisory board of the CFTC. #AVALANCHE #AVAX #CFTC #EminGünSirer

Emin Gün Sirer, founder of Avalanche, was appointed to the advisory board of the CFTC.

#AVALANCHE #AVAX #CFTC #EminGünSirer

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Geopolitical Turmoil Spurs Crypto Investors' Exodus to Gold. 🪙💰🌟 This weekend witnessed a remarkable shift in investor behavior as escalating geopolitical tensions prompted a surprising migration from crypto to gold. Notably, Paxos's representation of gold (PAXG) skyrocketed by over 40%, surpassing $3.3k per troy ounce on select exchanges. Despite Bitcoin's often-touted status as a safe haven asset, it faltered during the recent crisis, leading many to perceive gold as a more dependable store of value. Gold's extensive history as a safe haven, spanning millennia, contrasts sharply with Bitcoin's comparatively brief existence. Additionally, historical investor tendencies favor gold and cash during times of uncertainty, hinting at a prevailing perception among crypto investors that Bitcoin is more akin to a risk-on investment rather than a reliable store of value. Bitcoin has seen a significant downturn, down 16% from its all-time highs, with a continued decline throughout the week. In contrast, gold sits only 1.5% below its Friday peak and has displayed resilience since Sunday's trading commenced. The relative valuation of Bitcoin against gold has plunged by 18% in April, underscoring a palpable shift in market sentiment towards risk-off assets. This recent trend of crypto investors seeking refuge in traditional safe haven assets like gold during times of uncertainty prompts reflection on Bitcoin's status as a store of value. The flight to safety among market participants indicates a prevailing lack of bullish sentiment, with uncertainty casting a shadow over the future trajectory of risk assets. source: Jack Inabinet | Bankless #gold #Paxos #PAXGold #bitcoin #Bankless
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