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Report: The Metaverse Might Contribute $320 Billion to Latam’s GDP in the Next 10 Years
25.5.2022
A new report indicates that the metaverse might be a significant factor in the growth of economies in Latam and the world in the coming decade. The study, issued by Analysis Group, estimates that Latam might benefit from a surge of $320 billion or an approximate 5% of its GDP, in the next 10 years....
US Senator Lummis Thanks God for Bitcoin as Congress Discusses Raising Debt Ceiling
17.10.2021
U.S. Senator Cynthia Lummis said, “Thank God for bitcoin,” during her speech to the Senate about raising the U.S. debt limit. “Bitcoin is not issued by a government, so it is not beholding to the debts that are run up by governments,” she explained. US Senator...
Bank of England Governor Bailey Says Cryptocurrencies Are ‘Dangerous’
26.5.2021
Known for his reluctant stance on decentralized money, the Governor of Bank of England (BOA), Andrew Bailey, has recently taken his anti-crypto rhetoric up a notch. Speaking at a meeting with lawmakers in London, Bailey stated that cryptocurrencies are “dangerous.” Andrew Bailey Remains...
Report: Pandemic Response Pushed Global Debt to $272 Trillion in Q3, $5T in Borrowing Expected in Q4
20.11.2020
The Institute of International Finance (IIF) says global debt will soar to a record $277 trillion by the end of 2020 as governments and companies continue to spend in response to the COVID-19 pandemic. Already, the debt has ballooned by $15 trillion this year to $272 trillion through September....
Mirage Recovery: What ‘Record’ GDP Growth Tells Us About the Economy
29.10.2020
The Department of Commerce’s new report shows 33.1% annualized GDP growth in Q3, but does this really tell us much about the state of the economy?
Covid-19 Hit Sub-Sahara Africa Gets $16 Billion From IMF, Region Still Faces $290B Financing Gap
28.10.2020
The International Monetary Fund (IMF) says its release of $16 billion towards sub-Sahara Africa will help to cover the needs of countries badly hit by the global pandemic, Covid-19. The financial institution says despite its swift action, the region still faces a financing gap of $290 billion...
Blockchain Can Give $1.7T Boost to Global Economy by 2030: PwC Report
13.10.2020
A new PwC report claims blockchain technology can add $1.7 trillion to the global economy by 2030, with the Asian continent standing to benefit the most
ECB in Full-On Emergency Mode as ‘Unprecedented Decline’ Hits Eurozone
2.5.2020
The euro area is facing an “unprecedented” economic decline, the worst since records began. European Central Bank (ECB) President Christine Lagarde paints a picture of a central bank in full-on emergency mode after the bank kept its interest rates unchanged. Unprecedented Economic...
Market Wrap: There’s a Bright Side to Bitcoin’s Drop on Worsening Unemployment
30.4.2020
Bitcoin cooled off after jumping to its highest levels in nearly two months, when it was up as much as $9,478. Yet, stakeholders say crypto interest remains strong
Market Wrap: Ether Up 50% in 2020, Hits $200 on Sunday
27.4.2020
Year to date, the native token of the Ethereum network’s 50 percent rally trounced bitcoin’s 7 percent gains
IMF Predicts Worst Global Crisis Since Great Depression, Costing $9 Trillion
16.4.2020
The International Monetary Fund (IMF) said the world’s current economic crisis is the worst downturn since the Great Depression, and no country is spared. The IMF estimates that the cumulative loss to global GDP from the pandemic could be around 9 trillion dollars. Also read: IMF Declares...
Cash Crisis: National Currencies Plunge in the Wake of Coronavirus
24.3.2020
Announcing an open-ended QE program Monday for unprecedented asset purchasing, the U.S. Federal Reserve has pledged to purchase assets "in the amounts needed," signaling the beginning of a virtually unlimited easing effort which will include moving into corporate bonds for the first time.
The post...
German Economy in Risk of Recession Amid Weak Demand, Tariff Threat, and Epidemic
8.2.2020
Germany, the economic powerhouse of Europe, is facing renewed challenges that may soon push it towards recession. Falling industrial production and dwindling factory orders are the prime cause of concern. The negative results have been announced on the backdrop of weak demand from Eurozone...
Low Interest Rates Provide Precarious Protection Against Crisis, World Bank Warns
10.1.2020
The latest global debt wave is the largest in the past five decades, the World Bank has acknowledged in a new report. The international institution notes that previous waves of broad-based debt accumulation lead to widespread financial crises. Historically low interest rates this time might not...