Dusseldorf The bankruptcy of the FTX crypto exchange last year destroyed billions in customer funds and plunged the entire crypto world into a massive crisis of confidence. A few months later, however, there is hardly any sign of this: Bitcoin is currently trading at $28,000 and has gained around 70 percent in value since the beginning of the year, leaving other asset classes such as stocks, bonds or gold far behind.
“One could speak of the end of the crypto winter,” says Jan Altmann, director of investment strategies at ETC Group. The company offers regulated investments in cryptocurrencies. Altmann suspects that one reason for the recovery in the crypto space could be the growing acceptance among institutional investors.
It has also been shown that insolvencies can not only affect crypto exchanges, but also American and Swiss banks. Bitcoin has gained around 40 percent since the Silicon Valley Bank collapsed.
Also: Handelsblatt correspondent Jakob Blume talks about the anger of the shareholders at what will probably be the last general meeting of Credit Suisse in Zurich.
More: All current developments from the crypto world in the news blog.
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