The banking crisis caused a reorganization of the investments of the investors in the last two weeks. According to EPFR data obtained by the Financial Times, more than $286 billion has been invested in US money market funds in March.

The main beneficiaries of this influx of money have been Goldman Sachs, JPMorgan Chase and Fidelity, with Goldman Sachs money funds receiving $52 billion, a growth of 13 %. Money market funds offer high liquidity and low risk, making them a popular choice for investors in uncertain times.

The US Federal Reserve continues to raise interest rates to curb inflation, which has led to money market funds offering their best returns in years. During a seven-day period ending March 22, the money market fund’s total assets increased by $117.42 billion to $5.13 trillion.

Money market inflows are driven by fears over the health of the financial system, as banks in the US and Europe face liquidity squeezes amid tightening of monetary policy.

Deutsche Bank shares fell on March 24 as the cost of insuring against its potential default risk increased. In the United States, uncertainty still hangs over regional banks, as default insurance for financial services firms Charles Schwab and Capital One skyrocketed last week.

K. Tovar

Source: Cointelegraph

(Reference image source: file)

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La entrada Investors rotate their funds amid the banking crisis apareció primero en Bitfinance.

The CFDs trading platform Plus500 has acquired for 30 million dollars (25 million euros) the provider of technological trading platforms that operates in the futures and options market in the United States Cunningham, thus expanding its geographical presence in the country and its offer in a market that is growing “significantly” today.

The consideration will be financed with the existing cash balances in Plus500 and will be paid at the time of the conclusion of the operation, a part of which will be kept in custody for two years from the completion of the acquisition, which is expected to the third quarter of this year.

The company hopes that the acquisition will offer them an opportunity to take advantage of the technology and guarantee them immediate access and the necessary licenses to operate in the US, as well as expand Plus500’s product offering in that country.

Cunningham has a long history in the futures and futures options market in the United States, including strong relationships with direct clients, introduction of brokers and futures exchanges, and closed 2020 with gross revenues of $ 19 million (15, 8 million euros) and a profit before tax of 600,000 dollars (500,000 euros), with gross assets of 70 million (58.3 million euros).

“The acquisition represents an important strategic step for Plus500 and for our transition to a global multi-asset fintech group. Our long-term ambition is to enable simplified and universal access to financial markets, and I am excited that today we have taken another step forward to achieve this,” said the CEO of Plus500, David Zruia, in a statement.

Source: dpa

La entrada Plus500 enters the market with the purchase of Cunningham apareció primero en Bitfinance.

The Twenty-seven have given the green light this Tuesday to the regulation to establish the new European Center for Cybersecurity of the EU that will be based in Bucharest.

The new body will work in coordination with the European Network and Information Security Agency, located in Greece. The EU thus wants to improve coordination in research and innovation in the field of cybersecurity.

Specifically, the center will serve to promote the security of the Internet and other networks and critical information systems by establishing a center that combines investments in research, technology and industrial development in cybersecurity.

“It will play a key role in helping to secure the digital infrastructure that many of us use every day for our work and leisure, as well as information systems and networks such as health, transportation, banking and financial markets systems,” said the Portuguese Secretary of State for the Presidency, Mariana Vieira da Silva.

Last December, the Romanian capital took over the headquarters of the new body against the candidacy of Brussels. The legislation on the new center will have to be adopted by the European Parliament at second reading before being published in the Official Journal of the EU.

Source: dpa

La entrada EU gives the green light to the new cybersecurity center apareció primero en Bitfinance.