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DeFi Credit Protocol Concordia Raises $4M in Round Led by Tribe, Kraken
16.6.2023
Concordia, now live in public testnet on Aptos, offers a multi-chain risk and collateral management platform for digital assets
How to use credit cards wisely to avoid debt
9.6.2023
Discover effective strategies and best practices to use credit cards wisely and avoid debt
Blackrock CEO Larry Fink Says US Is Jeopardizing Dollar’s Reserve Currency Status
5.6.2023
The CEO of the world’s largest asset manager, Blackrock, has warned that the United States is jeopardizing the U.S. dollar’s reserve currency status. He noted that the debt ceiling debate, risk of national default, and possible credit rating downgrades are “destabilizing” factors...
Fitch Maintains Negative Watch on US Rating Despite Debt Limit Resolution
4.6.2023
Although the U.S. has averted defaulting on its debt obligations, Fitch Ratings still has concerns about the country’s ability to repay its debt. As a result, the credit rating agency has placed the U.S. “AAA” rating on negative watch, emphasizing that recent events have lowered...
Credit Suisse, Deutsche Bank-Backed Taurus Deploys on Polygon Blockchain
2.6.2023
The Swiss firm aims to allow financial institutions and corporates to issue tokenized assets on the Ethereum layer 2 network
Amex planning to use AI for ‘approving cards and lines of credit’
29.5.2023
American Express plans to extend its AI capabilities through partnerships despite having experimented internally with numerous machine learning-powered services
China’s Credit Agency Downgrades US Credit Rating Over Debt-Ceiling Standoff and Looming Default
27.5.2023
China’s oldest credit rating agency, Chengxin International Credit Rating (CCXI), made headlines this week by downgrading the United States’ credit rating. The agency lowered the rating from AAAg to AAg+ and attributed this decision to the escalating political discord, rising inflation...
Moody’s on De-Dollarization: Rating Agency Labels US Debt Default a ‘Near-Term Danger to the Dollar’s Position’
27.5.2023
As calls for the creation of a global alternative to the greenback grow, credit rating agency Moody’s said on May 25 that rival currencies such as the euro and the Chinese yuan do not yet threaten the U.S. dollar’s position as the world’s reserve currency. The agency said...
Russian Think Tank Profiles BRICS Bank as IMF Counterpart to De-Dollarize Credit Markets
26.5.2023
The Roscongress Foundation, a Russian think tank, has profiled the New Development Bank, known as the BRICS bank, as an alternative to the International Monetary Fund (IMF) in its latest “Decolonization in Energy Markets” report. Nation members could secure loans based on their...
JPMorgan Boss Warns ‘Everyone Should Be Prepared’ for Interest Rates ‘Going Higher From Here’
23.5.2023
JPMorgan Chase, the largest bank in the United States, held its investor day event on Monday, where CEO Jamie Dimon answered questions from analysts and journalists. Despite market expectations of a rate hike pause, Dimon cautioned that people “should be prepared for rates going higher from here.”...
Crossover Markets Teams With Credit Network Hidden Road to Enable Crypto Trading
23.5.2023
The aim of the collaboration is to avoid conflicts of interest by decoupling trade execution from custody and brokerage
Banks Not Getting Anticipated Benefits From Rate Hikes, ECB Executive Admits
19.5.2023
Eurozone banks are profitable but the benefits from higher interest rates may be smaller than expected, according to the deputy head of the single currency area’s monetary authority. The official noted that while most of the tightening has been done already, more rate increases are to come. Euro...
Binance Halts Deposits and Possibly Withdrawals for Aussie Users After Being Cut Off by Australian Payment Service Provider
19.5.2023
Binance Australia said on May 18 that it is “unable to facilitate PayID AUD deposits for Binance users” due to a third-party payment service provider’s decision to discontinue support for the crypto exchange. Binance Australia said while it works to find an alternative, users...
Investors Seek Refuge in Cash as Recession Fears Mount, BOFA Survey Reveals
18.5.2023
Investors, plagued by mounting pessimism, have sought refuge in cash, according to a recent survey conducted by Bank of America. The survey highlights a notable 5.6% increase in cash reserves during May, as apprehensive investors brace themselves for a potential credit crunch and a recession....
Lending Platform Atlendis Deploys Upgrade on Polygon, Opens $2M Lending Pool for Banxa
16.5.2023
Atlendis Labs is a blockchain-based credit marketplace that offers revolving credit lines for small and medium-sized businesses and fintech firms
SEC revises $22M punishment against LBRY, seeks $111K instead
15.5.2023
The SEC originally wanted LBRY to pay millions of dollars in penalties, but now concedes the defunct firm can’t pay up that amount
Hedge Fund Mogul Stanley Druckenmiller Warns of ‘Hard Landing’ for US Economy
15.5.2023
Billionaire hedge fund manager Stanley Druckenmiller has a dire prediction for the U.S. economy: a recession is looming, and it’s likely set to hit this June. Druckenmiller’s forecast comes as American consumer spending remains low, and is largely driven by credit card usage. Druckenmiller,...
EY Announces Ethereum-Based Carbon Credit Traceability Platform – How Does it Work?
11.5.2023
One of the 'Big Four' accounting firms Ernst & Young (EY) announced that its Ethereum (ETH)-based platform for enterprises to track their carbon emissions and carbon credit traceability is now available in beta version.
According to the latest press release, the company's EY OpsChain ESG...
Latam Insights: Bolivia Sells Gold for Dollars, Argentina Bans Fintech Crypto, Fitch Upgrades El Salvador’s Credit Rating
8.5.2023
Welcome to Latam Insights, a compendium of the most relevant crypto and economic development news from Latin America during the last week. In this issue, Bolivia passes a law to sell gold for dollars, the Central Bank of Argentina bans fintech companies from using crypto, and Fitch improves...
US Banking Crisis Looms as ‘Credit Tightening’ Mentions Reach Record Highs on Company Calls
5.5.2023
Recent data reveals that while the banking industry in the U.S. is facing significant challenges, executives are mentioning “credit tightening” more frequently in earnings calls than during the 2008 financial crisis. Additionally, Google Trends data indicates a surge in search queries...