CZ Binance reacts to FED injecting $53 billion into banking system

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While SEC is working against cryptocurrencies and working on regulations against them, Federal Reserve just injected $53 billion in the banking system. This transaction was done by the repurchase agreements (repo), and an additional amount of $75 billion will be added soon.

This news spread like a forest fire and to this CEO of Binance, Changpeng Zhao reacted with a Tweet by saying that these steps by the government institutions will force people to enter the crypto market and it won’t be a choice anymore. It just depends on how long it will take for this to happen.

This injection of $53 billion in the banking system affected the cryptocurrency market as the price of Bitcoin nosedived towards the $9,700 levels. This sudden drop in the price caused the liquidation of longs worth $150 million on the trading platform, BitMEX.

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Vineet Chaudhary
Vineet Chaudhary
Vineet Chaudhary is a content writer with computer applications as his background field. His interests range from writing and photography to going out for trips and rides on weekends.

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