Bitcoin Garden Forum
Cryptocurrencies => Crypto Discussion => Crypto News from the USA => Topic started by: cryptogabbar on September 14, 2022, 12:04:50 PM
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In a bizarre twist, the cryptocurrency looks to be at a crossroads with the allure of Treasuries which provides a comparable payoff with far less risk.
According to a sources report on September 13, cryptocurrency rates, which institutions normally seek out, have recently gone below what the US government pays to borrow money for three months.
The Federal Reserve's aggressive stance led interest rates to rise everywhere except in cryptocurrency. As a result, rates have fallen in line with volumes, and confidence has been eroded by the collapse of the Terra (LUNA) project and the bankruptcy of crypto lenders such as Celsius Network.
Jaime Baeza, CEO of ANB Investments, noted that “two years ago, interest rates in crypto were at least 10%. Meanwhile, rates in the real world were either negative or near zero. Now it's practically the opposite, as crypto rates have fallen while central banks are hiking interest rates.”
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