Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
Rating agency Standard & Poor's dropped Greece's rating from the previous CC level to the level classifying Greek debt as in “selective default”. The statement came as a result of the formal offer document, presented by the Greek government last week, for its agreement to exchange bonds for new securities, with investors taking 53.5 percent reduction in the value of their investments.
Banks and other financial firms are also being asked by Greece's government to take a 53.5 percent loss on their Greek sovereign bonds.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
The plan agreed by the Greek parliament last week should reduce the country's debt by 107 billion euros.
S&P said that when the debt exchange was complete, it would assess Greece again and possibly raise its rating.
The downgrade follows a reduction last week by Fitch Ratings to C, while Moody's Investors Service has said it will cut the nation to its lowest rating.
The Greek government said S&P's move had been expected and it would not hurt the banking industry.
Source: BBC
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.