{"id":3132,"date":"2023-03-30T08:48:46","date_gmt":"2023-03-30T08:48:46","guid":{"rendered":"https:\/\/nftmetta.com\/?p=3132"},"modified":"2023-03-30T08:48:48","modified_gmt":"2023-03-30T08:48:48","slug":"amid-banking-crisis-is-cryptocurrency-becoming-investors-safety-net","status":"publish","type":"post","link":"https:\/\/nftmetta.com\/amid-banking-crisis-is-cryptocurrency-becoming-investors-safety-net\/","title":{"rendered":"Amid Banking Crisis, Is Cryptocurrency Becoming Investors\u2019 Safety Net?"},"content":{"rendered":"\n

March 30, 2023<\/p>\n\n\n\n

By Anjali Kochhar<\/p>\n\n\n\n

Only recently, the Securities and Exchange Commission (SEC) added Coinbase, a notable crypto exchange platform, to their \u201ccrypto crackdown list\u201d. Even then, Bitcoin maintained a stable position on the market, gaining 1.16 per cent, to reach USD 27,832. <\/em><\/em><\/p>\n\n\n\n

Within the span of 11 days, three major investment banks based in the US lost their wings, mainly Silicon Valley Bank, Signature Bank, and Silvergate. Unexpectedly following suit was the collapse of a major Switzerland\u2013based bank, Credit Suisse. Fortunately, it has now been acquired by the Union Bank of Switzerland (UBS).<\/p>\n\n\n\n

In a nutshell, it has been a rocky road for global investment banks. And the downfall is not yet over.<\/p>\n\n\n\n

Curiously enough, leading cryptocurrencies have been consistently performing despite authorities continuing their crackdown.<\/p>\n\n\n\n

Bitcoin remains stable despite SEC crackdown <\/strong><\/strong><\/p>\n\n\n\n

Only recently, the Securities and Exchange Commission (SEC) added Coinbase, a notable crypto exchange platform, to their \u201ccrypto crackdown list\u201d.<\/p>\n\n\n\n

Even then, Bitcoin maintained a stable position on the market, gaining 1.16 per cent, to reach USD 27,832. The asset\u2019s volume gained 10.14 per cent in the past 24 hours to reach USD 14.36 billion, as on March 27, 2023.<\/p>\n\n\n\n

Even the global cryptocurrency market was trading at a higher level of USD 1.16 trillion, marking a 0.68 per cent rise in the past 24 hours.<\/p>\n\n\n\n

Clearly, amid an ongoing banking crisis, cryptocurrency seems to be a safe haven for global investors.<\/p>\n\n\n\n

But, let\u2019s look at whether investment banks share the same sentiment.<\/p>\n\n\n\n

Investing in Blockchain and Crypto <\/strong><\/strong><\/p>\n\n\n\n

A recent report by Analytics Insight describes how leading investment banks in the world have actively invested in blockchain and cryptocurrency. In spite of regulatory authorities announcing sanctions and crackdowns against crypto exchanges.<\/p>\n\n\n\n

Standard Chartered <\/em><\/strong><\/em><\/strong><\/p>\n\n\n\n

As per the Analytics Insight report, Standard Chartered has till now, invested a whopping USD 380 million in cryptocurrencies. This corroborates with the data provided by Blockdata, a leading market intelligence platform.<\/p>\n\n\n\n

Blockdata also suggests that the London-based investment bank also has stakes in crypto and blockchain-based platforms including –<\/p>\n\n\n\n