‘Bankruptcy’ News Coming for Chinese Real Estate Giant Evergrande

There is a subject that the world economy has been following closely lately. The process that drove the Chinese real estate giant Evergrande to bankruptcy, according to experts, is next to the Chinese economy. could affect the entire world economy. has been scrutinized with thought. An important development took place this evening, involving the Chinese government.

What Evergrande should do today $148 million interest payment I was informed that it could not be done. After these news, some news started to circulate that the company ‘bankrupt’ or ‘announced its bankruptcy’.

The company has managed to make its payments so far:

Even the Chinese government was known to be involved in helping the company get out of the huge ‘debt swamp’ found inside. However, judging by the latest news, enough moves could not be implemented to save the real estate giant from bankruptcy. Making all payments so far company that survived default, By failing to pay the bond coupon payments of April 2022, 2023 and 2024, which exceeded $148 million, within 30 days. officially defaulted.

In this scenario, this means that the company does not make the interest payments it should make. Although it does not mean direct bankruptcyConsidering the entire process for Evergrande, it is thought that the company will declare bankruptcy in the coming days.

Cryptocurrencies are on the decline:

Possible bankruptcy of Evergrande can affect all markets. It’s been a long-debated issue. After the news of default and ‘bankruptcy’ rumors, the market where the effect was felt the fastest was the crypto money market.

Bitcoin, which has seen the highest levels in its history by breaking records in the last period, reached the level of 69 thousand dollars. After the Evergrande news sudden drop chart displaying Bitcoin, It fell to 64 thousand levels.

Next to Bitcoin, Ethereum, which has shown a similar rise in the last period and saw the level of $ 4.868 today, was also affected by the situation like the general crypto money market. Ethereum, after the development It dropped to $4,500 levels.