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Will Banks Survive? Bank of England Prepares to Launch CBDC if Innovation Stalls
28.10.2024
The Bank of England cautions it could deploy a digital currency if commercial banks falter, signaling a potential upheaval in the future of money. Digital Payments Showdown: BOE Set to Roll Out CBDC if Banks Slip Behind Bank of England (BOE) Governor Andrew Bailey shared his outlook on...
Ripple CEO Loses Bank Account After 25 Years, Given 5 Days to Withdraw Funds
28.10.2024
Ripple’s CEO has revealed that his 25-year-old bank account was closed due to his role leading a crypto company, underscoring rising regulatory pressures and uncertain U.S. policies. Ripple CEO Brad Garlinghouse’s Bank Account Closed by Major Institution After 25 Years Ripple CEO Brad...
Economist Explains Bitcoin’s Untapped Potential for Central Bank Reserves
28.10.2024
An economist has argued that bitcoin is a reserve asset similar to gold, noting that some central banks might consider adding it to their reserves. Economist Makes Bold Case: Bitcoin Could Protect Central Banks Like Gold The Bitcoin Policy Institute (BPI), a non-profit think tank, published a paper...
Standard Chartered: Bitcoin Set to Hit $73K on US Election Day
28.10.2024
Standard Chartered forecasts bitcoin reaching $73,000 on Nov. 5, U.S. Election Day, with a potential year-end high of $125,000 if Republicans sweep Congress. Standard Chartered’s Election Day Forecast: BTC Set to Reach $73K Standard Chartered’s Global Head of Digital Assets Research...
FINRA Warns Member Firms of Metaverse Adoption Challenges
27.10.2024
The Financial Industry Regulatory Authority has released a report highlighting the potential benefits and risks of the metaverse for the securities industry. The report emphasizes the importance of addressing challenges identified to ensure the responsible and ethical development of metaverse...
An AI Bot Worth Millions? The Unbelievable Story of Truth Terminal and GOAT
27.10.2024
While the crypto market experienced a subtle uptick of 0.06% over the past 24 hours, the artificial intelligence (AI)-driven meme coin goatseus maximus (GOAT) took a bolder path, climbing by double digits within the same period. How Did an AI-Created Meme Coin Capture a $700M Market Cap in Weeks?...
Russia Warns of Global Market Shock if Frozen Assets Are Tapped, Intensifies Sanctions Threat
27.10.2024
Russia cautions that using frozen Russian assets could trigger profound shocks to global markets, spurring developing nations to bypass the U.S. dollar. Russia’s Asset Countermoves: Potential Global Financial System Impacts Russia’s Finance Ministry warns that leveraging Russian...
Man Vanishes With Woman’s Crypto, Prompting Police Investigation in Hong Kong
27.10.2024
A Hong Kong woman lost $12K in a crypto exchange scam after waiting hours for a promised cash handoff that never arrived. Hong Kong Woman Scammed in Crypto Exchange Scheme Hong Kong authorities are investigating a cryptocurrency scam reported by a woman at an exchange shop in Mong Kok on Saturday...
Russia Drives Dedollarization Forward With BRICS — Brazil Now Leads Next Steps
27.10.2024
Russia’s push for BRICS to abandon the U.S. dollar has reached critical milestones, with formalized agreements and functioning alternatives to Western financial systems now in place. BRICS Pushes Dedollarization and Financial Autonomy Forward At the recent BRICS summit in Kazan, Russian Deputy...
BRICS Leaders Push for Local Currency Network, Diminishing US Dollar Role
27.10.2024
BRICS leaders have declared their commitment to a local currency payment network designed to revolutionize cross-border transactions and reduce reliance on the U.S. dollar. BRICS Leaders Commit to a Groundbreaking Local Currency Payment Network At the 16th BRICS Summit in Kazan, Russia, BRICS...
8 Chinese Firms Exposed in High-Stakes Crypto Laundering Operation
26.10.2024
Indictments reveal how eight Chinese firms used cryptocurrency to obscure profits from illegal chemical sales. US Indicts Chinese Firms Using Cryptocurrency in Illicit Trade The U.S. Department of Justice (DOJ) has unsealed indictments against eight China-based chemical companies and employees...
BRICS Backs Russia’s Push for New Global Payment System to Counter Western Control
26.10.2024
Russia’s push for a BRICS payment system is gaining traction, with partners endorsing the plan to counter an “outdated, expensive, and ineffective” global framework. BRICS Partners Support Russia’s Plan for a New Payment System Russian Deputy Finance Minister Ivan Chebeskov announced that...
Trump’s No-Income-Tax Vision: What America Looked Like Without Income Taxes
25.10.2024
In a lively exchange on Fox & Friends this week, former U.S. President Donald Trump floated an intriguing idea: doing away with income taxes entirely. ‘There is a Way’: Trump’s Nostalgic Call for Ending Income Taxes During the television segment, Donald Trump took a nostalgic...
Russian Banks Baulk at Digital Ruble Implementation Costs
25.10.2024
Russian banks, particularly smaller ones, are unhappy about the high cost (between $1.25 million and $2 million) of integrating with the central bank’s digital ruble platform. This cost is seen as prohibitive for many banks, exceeding their IT budgets. The central bank has mandated different...
Bank of America Declares Gold the ‘Last Safe Haven’ Asset, Forecasts $3,000 Price
25.10.2024
Bank of America sees gold as the last and ultimate safe-haven asset amid rising U.S. debt, urging traders and central banks to increase their holdings. With concerns over fiscal instability and mounting interest payments, the bank forecasts gold could hit $3,000 per ounce by 2025, reinforcing...
Study: Trump Win Likely to Spark Bullish Trend in Crypto Prices
25.10.2024
A recent study reveals that nearly two-thirds of surveyed U.S. citizens (64.7%) believe a Donald Trump or Republican victory in the presidential election would spark a bullish trend in crypto prices. This optimism stems from the Republican Party’s business-friendly reputation, which resonates...
Norway’s Central Bank on CBDC Progress: We’re Not Falling Behind
24.10.2024
Norway’s central bank is on track to decide by 2025 whether to adopt a central bank digital currency (CBDC), but officials stress there’s no urgency. Despite Norway’s cashless society, with only 2% using cash, the bank is carefully studying both retail and wholesale CBDC options, emphasizing...
Global Finance Faces a Shift as Mbridge Digital Currency Platform Challenges US Dollar
24.10.2024
The People’s Bank of China emphasized the Mbridge platform’s role in improving cross-border payments through the use of central bank digital currencies (CBDCs), aiming to reduce inefficiencies and avoid new barriers. The platform, which targets underserved regions like ASEAN, could reshape...
Brazil Calls for Unified BRICS Financial System, Challenging Western Hegemony
24.10.2024
Brazilian President Luiz Inacio Lula da Silva has urged the creation of a unified financial system among BRICS nations. He emphasized the need for alternative monetary relations. Egyptian President Abdel Fattah el-Sisi echoed this sentiment, advocating for financial settlements in national...
Tesla Holds Bitcoin Steady After BTC Wallet Transfers Spark Speculation
24.10.2024
Tesla has reported stable bitcoin holdings for Q3 2024, despite transferring its 11,509 BTC to new wallets. The move, which sparked speculation but did not signal a sale, suggests routine security measures. Tesla posted $25.2 billion in revenue and $2.7 billion in profits, driven by record vehicle...