.GoldmanSachs believes that the downturn in the crypto market won’t affect American consumers in any meaningful way
, Goldman Sachs analysts conclude that the cryptocurrency crash should have little impact on Americans.
The banking giant estimates that about a third of the global cryptocurrency market is owned by US households. Considering that total household wealth topped $150 trillion for the first time earlier this year, the recent downturn in the cryptocurrency market will not affect Americans’ spending habits in any meaningful way.
Moreover, Goldman doesn’t expect the ongoing market correction to cause a major spike in labor force participation among young men, the demographic group that is the most likely to suffer from declining prices. That said, the bank does believe that more people will be incentivized to return to work due to tighter financial conditions.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Shopify Expands Crypto Payment Options With Crypto.com Pact.Shopify has expanded crypto payment options for merchants through a pact with cryptocom, mikeybellusci reports.
Les mer »
In Light of UST and LUNA Crash: G7 Countries to Discuss Crypto Regulations (Report)The Group of Seven (G7) members could touch upon the topic of cryptocurrency regulations during their meeting this week in Germany.
Les mer »
South Korean legislature considering new licensing system for cryptoThe National Assembly in South Korea has received a report from financial regulators that suggests the country adopt a licensing system for the crypto industry in order to protect investors from nefarious activity in the markets.
Les mer »
A Crypto Billionaire Shattered the Primary Spending Record to Back a Candidate Who Is Getting ClobberedThe Oregon race attracted national attention because of the insane amount of money spent by Sam Bankman-Fried's PAC.
Les mer »
Crypto Unlocked'Code-Driven Communities: An Exploration into DAOs' will be an overview of DAOs functions and processes. Join the free webinar tomorrow at 1 p.m. ET as part of the Consensus2022 Crypto Unlocked sessions.
Les mer »
The Great Crypto Grift May Be UnwindingAs cryptocurrencies gyrate and more swindles come to light, investors’ willingness to swallow hot air appears to be diminishing, JohnCassidy writes.
Les mer »