A weekly section discussing how general events can influence the near-term future of cryptocurrency sector
Greeks Lining Up at ATMs
The economic epidemic in Greece is not looking to slowdown. A further reaction could now be seen among the people who are now lining up at the ATMs to take the cash out. The impact is rumored to have been brought by Greek Prime Minister Alexis Tsiparas, who had called a referendum on Sunday to decide whether to maintain adherence to euro or not. In the meantime, the rumors related to Greeks buying cryptocurrency kept surfacing up.
Greek Bank Deposits Reaches its 11-Year Low
A recent study by Bank of Greece reported a drastic fall in bank deposits — from €129.9 billion to €3.8 billion — since November. The fall, which started to appear around the time when then-Prime Minister Antonis Samaras proposed a vote for a new president.
PayPal Freezes Yet Another Funding Account
Voat, a censorship-free community platform, recent informed its users that it is no longer accepting donations via PayPal. According to the available information, the platform had faced a ban due to receiving payments for promoting sexually explicit content. However, Voat representatives rubbished this report and said that they were using PayPal only to receive donations to support development.
TWC Group Expects Bond Market Sell Off
TWC Group Inc. is currently expecting the possibility of a massive bond sales in the market. The Los Angeles-based money manager firm has therefore decided to accumulate more and more cash in funds. It currently has around $140 billion in US debt.