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Largest US Banks Expect Billions in Loan Losses, Profits Plunge


Several of the largest U.S. banks have set aside billions of dollars in reserves as they expect massive losses from loan defaults, sending their profits nosediving. Wells Fargo’s first-quarter earnings fell a whopping 90% while JPMorgan Chase’s profit dropped 70%. Bank of America...

South Africa Proposes 30 Rules to Regulate Cryptocurrency


South Africa’s top financial regulators, including the South African Reserve Bank, have jointly released a policy paper with 30 recommendations for the regulation of cryptocurrency and related service providers. They aim to be in compliance with the cryptocurrency standards set by...

Crypto Wallet: Its Requirements, Mechanism, and Everything You Need to Know


Basically, a software program, a cryptocurrency wallet, is a secure digital wallet that stores public and private keys. It enables users to store, send, and receive digital currencies and monitor their balance. How Does It Work? Crypto wallets do not store currency, unlike traditional fiat wallets....

Predicted Market Crash, Foretold Market Explosion, and 20 Crypto Jokes


The Cryptoverse brought us quite a few interesting stories this week. Lower USD interest rates, combined with the inflation and crypto volatility could bring greater demand for stablecoins and cryptocurrencies, and while Silk Road founder predicts that there will soon be another market crash before...

How is the Crypto Industry Performing Amid Coronavirus Pandemic?


The global central banks’, such as the IMF, decision to lower interest rates and print more money to tackle the impact of COVID-19 pandemic on the world economy will eventually turn positive for the cryptocurrency industry. Because such a stimulus could weaken fiat currencies paving the way...

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