A HUGE LIQUIDITY CRISIS IS UNFOLDING IN TURKEY RIGHT NOW.
One of Turkey’s biggest fund managers failed to meet investor withdrawal requests.
Then another manager reported the same problem with $7.5 billion worth of funds.
Investors rushed for the exits, pulling as much as $1 billion from funds in a single day.
Turkish stocks dropped more than 6%, after already falling over 2% the day before.
Now authorities are stepping in.
Interbank borrowing limits have been increased 10X, while several funds are being liquidated.
The scary part is what happens next.
Funds need cash to pay investors, so they sell assets.
Prices fall, and more investors panic and ask for their money back.
If that cycle keeps going, Turkey’s liquidity problem can get much worse very fast.
#BTC #ETH #DOGE #zec #bnb $ETH $ZEC $BTC
One of Turkey’s biggest fund managers failed to meet investor withdrawal requests.
Then another manager reported the same problem with $7.5 billion worth of funds.
Investors rushed for the exits, pulling as much as $1 billion from funds in a single day.
Turkish stocks dropped more than 6%, after already falling over 2% the day before.
Now authorities are stepping in.
Interbank borrowing limits have been increased 10X, while several funds are being liquidated.
The scary part is what happens next.
Funds need cash to pay investors, so they sell assets.
Prices fall, and more investors panic and ask for their money back.
If that cycle keeps going, Turkey’s liquidity problem can get much worse very fast.
#BTC #ETH #DOGE #zec #bnb $ETH $ZEC $BTC
