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BIS Report Cites ‘Inherent Limitations’ of Cryptocurrencies; Questions Their Role in Global Economy
13.7.2023
The Bank of International Settlements (BIS) has published a report on cryptocurrencies and explains that the technology has serious “flaws.” BIS researchers insist that permissionless blockchains have “inherent limitations” that lead to network congestion and high fees. BIS Report: ‘Crypto Has...
US Inflation Hits Two-Year Low, Boosting Stocks and Precious Metals
13.7.2023
On Wednesday, July 12, 2023, the U.S. Bureau of Labor Statistics released the Consumer Price Index report for June, showing a 3% increase in inflation, the lowest level since March 2021. The U.S. inflation rate has fallen for 12 consecutive months, with the index rising 0.2% on a monthly basis....
Top Stablecoins See Steady Decline Over Past Month as Dollar-Pegged Token Economy Shrinks
12.7.2023
The top stablecoins have continued to see redemptions over the past 30 days as the dollar-pegged crypto economy currently hovers at $127.32 billion on July 12. The stablecoin BUSD’s supply has dropped below the 4 billion mark as the token’s number of coins in circulation has fallen...
India Poised to Leapfrog Major Economies, Becoming World’s Second-Largest by 2075, Goldman Sachs Report Predicts
11.7.2023
In a recent report, Goldman Sachs Research details that India is set to outpace Japan, Germany, and the U.S. to become the world’s second-largest economy by 2075. The financial institution’s researchers predict a dramatic expansion in India’s gross domestic product. Economic...
BRICS Gold-Backed Currency Will Benefit Iran, Weaken US Dollar, Iranian Official Says
10.7.2023
An Iranian official has stated that Iran stands to benefit from a gold-backed common BRICS currency. The official further asserted that such a BRICS currency would erode the U.S. dollar’s dominance and result in increased wealth for Iranians holding gold. “A tremendous change is taking place...
Renowned Investor Jim Rogers Warns ‘US Is Going to Suffer’ as Dollar’s Value Erodes Further
9.7.2023
Veteran investor Jim Rogers, who co-founded the Quantum Fund with billionaire investor George Soros, has warned that “the worst is yet to come” for the U.S. economy. “The U.S. is going to suffer” as the value of the dollar erodes further, he predicted, emphasizing that inflation...
Cyberpunk 2077 Players Protest Reddit By Posting Nudes
6.7.2023
Open-world sci-fi RPG Cyberpunk 2077’s biggest subreddit recently switched to NSFW (not safe for work,) with the explanation that the game it is focused on is a mature game filled with nudity and gore. However, Reddit allegedly demanded that mods of the subreddit quickly revert the change. The mods...
NFT Creator Royalty Payments Hit Two-Year Low: Nansen
5.7.2023
The rise of royalty-optional platforms like Blur and OpenSea have contributed to declining royalty payments for artists across the space
Crypto Catalyst Watch: FOMC Minutes, Jobs Numbers Lead Busy Slate of Economic Releases
5.7.2023
In addition, the national ISM manufacturing survey, released during the long July 4 weekend, fell to its weakest level since May 2020
Redemptions Plague Stablecoin Economy, Wiping Out Over $2 Billion in June
2.7.2023
The market capitalization of the stablecoin economy on July 2, 2023, has fallen below the $129 billion mark to the current $128.21 billion, according to statistics. Just over $2 billion in stablecoins have been withdrawn from the stablecoin token economy since May 28. Stablecoin Economy Faces...
Official Minecraft Subreddit Shuts Down, Says 'We No Longer Feel Reddit Is An Appropriate Place'
29.6.2023
As protests continue over on Reddit, the world’s largest community forum that is now inexplicably being turned into an engine for shareholder-driven greed, one of its biggest gaming subreddits has announced that it will be leaving the platform for good.Read more
First Mover Asia: Bitcoin Maintains $30K as ‘the Economy Isn’t Breaking Just Yet’
28.6.2023
ALSO: Singapore ranked second in CoinDesk's Crypto Hubs survey. The city state raised billions through IPOs, weathered the collapse of homegrown darlings Terraform Labs and Three Arrows Capital and is now searching for the right regulatory balance to encourage crypto without getting burned again
Anthony Georgiades, Co-Founder of Pastel Network, on the Current NFT Market, NFT Native Blockchains, and the US Economy | Ep. 242
27.6.2023
In an exclusive interview with cryptonews.com, Anthony Georgiades, Co-Founder of Pastel Network, talks about Web3/NFT security, the importance of decentralized storage, and the current state of the NFT market....
Read More: Anthony Georgiades, Co-Founder of Pastel Network, on the Current...
Report: Cuban Peso Parallel Market Rate Plunges to Low Last Seen in Oct. 2022
26.6.2023
The parallel market exchange rate of the Cuban peso versus the greenback recently dropped to CUP200 per dollar, a level last seen in Oct. 2022, a report has said. Pavel Vidal, a former economist at the Cuban central bank, said the peso’s depreciation has caused the “impoverishment...
Study Shows Bank of England’s Rising Interest Rates Threaten 1.2 Million UK Households With Insolvency
25.6.2023
The Bank of England made an impactful move last Thursday, June 22, 2023, as it raised the benchmark bank rate to 5%, marking a significant 0.5 percentage point increase. This decision catapults the central bank’s rate to its highest level since 2008 and represents the most substantial surge...
Robert Kiyosaki Shares Simple Way to Tell if Economy Is in Recession
25.6.2023
Rich Dad Poor Dad author Robert Kiyosaki has shared a very simple way of telling whether an economy is in a recession. “There is a lot of hot air about ‘Are we in a recession or not.’ The answer is simple,” the famous author claimed. Robert Kiyosaki on How to Tell if We’re in...
Economist Peter Schiff Slams Fed Chair Over Economic Concerns — Claims Powell Overlooks ‘Far More Relevant’ Factors
24.6.2023
Economist Peter Schiff has slammed Federal Reserve Chairman Jerome Powell over several key issues concerning the U.S. economy, the banking system, and the U.S. dollar. “Powell is a coward. He is not doing his job,” Schiff claimed, highlighting multiple factors affecting the economy that the...
Institutional Interest Fuels Crypto Rally as Market Adds $110 Billion in 7 Days
23.6.2023
During the past week, crypto assets increased in value by 9.62%, rising from $1.10 trillion to the current $1.21 trillion. Apart from the listed stablecoins, the top 20 crypto assets by market capitalization all experienced gains this week, as $110 billion was injected into the crypto economy....
Pepe Surges Amidst Meme Coin Market Gains; Whales Accumulated Significant PEPE During Price Dip
22.6.2023
While the crypto economy has reached a value of $1.2 trillion, meme coin markets have experienced substantial gains this week, with the top five meme tokens recording both 24-hour and seven-day gains. According to recent data, pepe is leading the pack with a 34% increase in the last 24 hours and...
World Mobile launches token buyback program, leveraging revenue to empower its sharing economy
22.6.2023
World Mobile has announced the launch of a token buyback program to support the sustainable growth of its sharing economy. The token buyback program will see World Mobile’s treasury purchase its native utility token, World Mobile Token (WMT), from the open market. The first buyback occurred on...