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Bitcoin, Ethereum Technical Analysis: BTC Remains Near $30,000, as Traders Prepare for Key US Economic Data
10.7.2023
After a recent slip, bitcoin moved back above $30,000 on Monday, ahead of a key week of U.S. economic data, with the headline being the inflation report. Inflation is expected to drop to 3.1% in June, which would be a nearly two-year low. Ethereum also slipped on Monday, remaining below $1,900....
Latam Insights — Bolivia Calls for De-Dollarization, Reserve Drops Fiat Services
10.7.2023
Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue, Bolivian President Luis Arce calls for de-dollarization at the Southern Common Market Summit, Reserve drops fiat services in Latam, and Argentina postpones...
World Gold Council’s Mid-Year Report: Gold Set for a Neutral Second Half Under Economic Uncertainty
9.7.2023
On July 6, 2023, the World Gold Council (WGC) released its 2023 Mid-Year Outlook, revealing that a “strong first half for gold is likely to give way to a more neutral H2.” According to WGC researchers and market strategists, central banks are “nearing the end of their...
Deflecting Blame — Bank of England Governor Bailey Accuses UK Retailers of Overcharging Customers
9.7.2023
After the Covid-19 pandemic, many people believe the implementation of extensive stimulus measures and quantitative easing (QE) policies resulted in an overwhelming surge of inflation that has burdened millions across the globe. While certain individuals attribute this economic turmoil to...
BRICS Bank Official Discusses Common Currency as Reports of Gold-Backed BRICS Currency Gain Attention
9.7.2023
The BRICS Bank’s vice president and chief financial officer has shed light on the economic bloc’s aspiration to develop a common BRICS currency. His remarks followed recent reports suggesting that Russia has confirmed the BRICS’ plan to introduce a gold-backed common currency, with...
Report: Zimbabwe Central Bank Begins Gold-Backed Digital Currency ‘Dry Run’
8.7.2023
According to a report, the Reserve Bank of Zimbabwe has commenced trials, or the “dry run” test, for the viability of launching a gold-backed digital currency. Nelson Mupunga, the director of economic research at the central bank, reportedly said the digital currency will act as...
Putin Warns of Increased Financial Crisis Risk — Says Russia Is Being Subjected to Hybrid War
7.7.2023
Russia’s President Vladimir Putin has warned of increased “risks of a new global economic and financial crisis against the backdrop of an uncontrolled debt accumulation by developed countries.” He added that Russia is “being subjected to a hybrid war, with illegitimate anti-Russian sanctions that...
Peter Schiff: The Fed Has Lost Inflation Fight — ‘Markets Just Haven’t Figured That out Yet’
7.7.2023
Economist Peter Schiff has warned that the Federal Reserve has lost and inflation is about to get worse. “The markets just haven’t figured that out yet,” he cautioned, emphasizing that “We continue to get a lot of weak economic data.” ‘The Fed Has Lost’ Economist and gold bug Peter...
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
The High Rate Environment — Bank of America Faces Paper Losses Exceeding $100 Billion
4.7.2023
Following the aftermath of the United States’ three major bank collapses, several market observers argue that the banking crisis in the country persists. Bank of America has recently garnered significant attention, with the Federal Deposit Insurance Corporation (FDIC) reporting that...
‘Bidenomics’ Agenda Struggles to Gain Support as Joe Biden’s Approval Ratings Plummet
4.7.2023
Over the past week, U.S. president Joe Biden has been engaged in discussions regarding his economic agenda, commonly referred to as “Bidenomics,” with the aim of establishing a strong groundwork for his 2024 reelection campaign. Emphasizing the potential to revive the cherished...
2 Rate Hikes or Hold? Fed Predictions Vary From No Rate Hikes to 6% in 2023
3.7.2023
Based on projections from the U.S. Federal Reserve, it is anticipated that the central bank will implement two additional increases to the federal funds rate within the span of 2023. As indicated by Fed policymakers, they estimate the benchmark bank rate to fall within the range of 5.5% to 5.75%...
Bitcoin, Ethereum Technical Analysis: ETH Nears $2,000, Ahead of US Independence Day
3.7.2023
Ethereum moved closer to $2,000 on Monday, as markets prepared for a short, but busy week of U.S. economic data. This is due to the fourth of July Independence Day celebrations, which will see some markets in the United States closed. Once reopened, the FOMC minutes, and non-farm payrolls report...
Latam Insights — Argentina Settles IMF Payment in Yuan; Brazilian CBDC to Be Launched in 2024
3.7.2023
Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue, Argentina settles part of its $44 billion debt with the International Monetary Fund (IMF) using the Chinese yuan, Central Bank of Brazil officials estimate...
Ethiopia Joins Egypt in Seeking BRICS Membership
3.7.2023
Ethiopia has joined Egypt and Algeria in applying to become a member of Brazil, Russia, India, China and South Africa (BRICS) economic bloc. According to the Ethiopian Foreign Affairs Ministry, joining the bloc would help the country guarantee its national interests. Safeguarding Ethiopian National...
China-Africa Economic and Trade Expo Aims to Defy Western ‘Debt Trap’ Accusations, Generating $19 Billion in Trade Deals
2.7.2023
According to a report from the third annual China-Africa Economic and Trade Expo, Africa and China are continuing to strengthen their long-term trade ties. China wants to be one of Africa’s largest trading partners, and reports revealed on Friday that this year’s expo is expected...
Federal Reserve Chair Pushes Stronger Measures to Tackle Inflation, Considers Back-to-Back Rate Hikes
1.7.2023
Federal Reserve Chair Jerome Powell has reaffirmed the Fed’s hawkish stance. Noting that the latest economic data indicates that the Fed’s policy “may not be restrictive enough” and “has not been restrictive for long enough,” Powell stated that the central bank could...
Rise in Salaries Paid in Bitcoin as Employees Opt for Crypto Amid Economic Uncertainty
30.6.2023
Human Resources industry executives have noted that employees are willing to receive their salaries in Bitcoin (BTC), given the current hyperinflation and political conundrum in many regions worldwide.
Recent bank failures and volatility among fiat money are shifting people to opt for stablecoins...
Solana's Cardinal shuts down citing economic conditions
29.6.2023
According to the protocol's closing schedule, part of the operations will cease on July 19, while the withdrawal period ends on August 26
Bitcoin salary: Employees choose crypto paychecks amid economic instability
29.6.2023
Volatility among some fiat currencies has made stablecoins like USDC a more attractive option for payroll, according to HR executives