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Crypto Projects Thrive Despite US Banking Crisis, Raising Over $4 Million

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Gherardo Fiorenzo
Gherardo Fiorenzo is an Italian author with a unique perspective shaped by his experiences in Italy and the US. His thought-provoking articles, short stories, and reviews explore the intersections of language, identity, and culture.

Despite the growing concerns in The banking industry in the United States, the cryptocurrency industry is standing firm, and is on the rise over $4 million through token sales last week.

On March 19th, CryptoRank data revealed that despite the downturn, the amount raised a significant increase. Demonstrate flexibility and adaptability of crypto industry.

Collapses of Major US banks influence the cryptocurrency industry

The data showed that the crypto industry raised $4.11 million through it token Sales, though, are down token previous month’s sales.

the total Starch in the last two months totaling $6.89 billion, up from last month $933.55 million, incl private rounds.

This is it against the background of Meltdown of Major banks Silvergate, Silicon Valley Bank (SVB), and Signature Bank, which exposed the vulnerability of the traditional The banking sector while temporarily depriving US cryptocurrency market of Its basic on- convulsions

Analysts attributed the collapse of SVB and Silvergate to an unfavorable market conditions and the poor risk administration. The fall of the SVB resulted from long-term overexposure government Bonds that decline in value when interest rates rise. this left the bank short of assets When many depositors withdraw their money simultaneously.

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Silvergate’s collapse was driven by the collapse of FTX, which hurt confidence in The cryptocurrency sector and short sellers are sowing concerns on Twitter.

The closing of Signature Bank sparked controversy as it was reported that it was not insolvent and it was already Capital outflows stabilized when US regulators stepped in. Many cryptocurrency enthusiasts saw this as politically motivated move To pay cryptocurrency out of United State

with collapse of Silvergate and Signature Bank, which are the leaders financial Institutions that provide banking services to US crypto companies, it was widely believed that crypto companies would face Major obstacles interact with the dollar-based on financial system. However, the recent fundraiser success suggests otherwise.

Fundraising methods: ICOs, IEOs, and IDOs

Initial coin offerings (ICOs), initial exchange offerings (IEOs), and decentralized initial offerings (IDOs) are different ways to raise money. in Structure and execution however share Similar goals.

ICOs enable companies to raise funds creating new Coins, apps, or services. IEOs include online trading Exchange of action platforms digital asset offers on On behalf of of Companies that provide instant services trading opportunities. IDOs, and latest The fundraising model offers enhanced liquidity and issuance via decentralized exchanges.

Bitcoin (BTC), the largest cryptocurrency in the worldexperienced a roaring ride, and reached an all-time high of approximately $69,000 in November 2021 before declining to below $20,000 in March 2023.

Despite the banking crisis, bitcoin he have climbed back upand trading About $27,740 at the time of writing. CryptoRank.io data indicates that Binance is leading the Bitcoin and Ethereum markets in Daily futures volumes.

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