LONDON/SYDNEY—The dollar took a pause on Tuesday in what has been a relentless climb higher as under-fire sterling as well as the euro and Japanese yen recovered some ground from multi-year lows, but medium-term fundamentals were still in the greenback’s favor. Sterling climbed over 1 percent to $1.0810, on track for its biggest daily percentage…
Australian Crypto Entrepreneur Lost $267 Million After Deal Collapsed Amid Crypto Market Plunges
September 22, 2022
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An Australian cryptocurrency investor has lost US$267 million after failing to secure funding for his Silicon Valley-based blockchain start-up as the digital currency market remains in a knockout. Michael Dunworth, the co-founder of Wyre, said he was dealt a heavy blow by the news last week that US online checkout company Bolt Financial Inc scrapped…
Nassim Taleb Calls Bitcoin a ‘Tumor’ Attributable to Low Interest Rates
Author and risk analyst Nassim Nicholas Taleb took aim at cryptocurrency in a recent television interview, arguing that the continued relevance of Bitcoin and other blockchain assets was an accident of a monetary policy that has caused many assets to be grossly overvalued. Speaking on CNBC’s Squawk Box, the renowned philosopher of probability reiterated his confidence…
White House Exploring Risks, Benefits of Central Bank Digital Currency
September 21, 2022
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The Biden administration is “closely examining” the possibilities for issuing a central bank digital currency (CBDC) based on a technical report prepared by the White House Office of Science and Technology Policy (pdf), along with other reports. “If the U.S. pursued a CBDC, there could be many possible benefits, such as facilitating efficient and low-cost…
Dollar Firm as Markets Brace for Another Big Fed Rate Hike
TOKYO—The dollar remained firm near a two-decade high versus major peers on Tuesday as investors braced for another aggressive rate hike by the Federal Reserve as it battles to rein in overheated inflation. The dollar index, which measures the greenback against six counterparts, edged 0.09 percent higher to 109.64, stable for the moment after pulling…
Crypto Analyst Who Predicted 2022 Bitcoin Meltdown Says BTC Has Reached A ‘Local Bottom’
Bitcoin closed around $20,000 on Saturday, and on Sunday, the cryptocurrency dropped 1.55 percent to $19,708. BTC is down 58.9 percent from the year’s high of $48,234 on March 28. The macroeconomic warnings from Goldman Sachs and Fed’s approach to interest rate hikes have played a significant role in determining Bitcoin’s price trends. What Happened…
Bitcoin Once Again Slips Below $20,000
Bitcoin on Sunday dropped 1.54 percent to $19,804, slipping from the 20,000 mark after losing $310 from its previous close. The world’s biggest and best-known cryptocurrency is down 58.9 percent from the year’s high of $48,234 on March 28. Ether, the coin linked to the Ethereum blockchain network, dropped 3.2 percent to $1,422.1 on Sunday,…
Biden White House Issues Framework for Regulating Digital Assets
September 16, 2022
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The Biden administration has released its first-ever comprehensive framework aimed at regulating digital assets like cryptocurrencies, including cracking down on fraud and fostering financial stability. In March, President Joe Biden issued an executive order seeking to ensure the responsible development of digital assets. Since then, multiple government agencies have been framing policies aimed at pushing…
SEC to Set up New Office for Crypto Filings
September 12, 2022
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The U.S. securities regulator will set up two new offices to deal with filings related to crypto assets and the life sciences sector, the agency said on Friday. The “Office of Crypto Assets” and the “Office of Industrial Applications and Services” will join seven existing offices under the Securities and Exchange Commission (SEC) department which…
Crypto Investments Are Extremely Risky: Australian Stock Exchange Regulator Warns
September 12, 2022
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The Australian Securities and Investments Commission (ASIC) has called on the Australian people to take precautions and equip themselves with knowledge of the risks associated with crypto asset investments. Speaking at a Governance Institute conference on Sept. 12, ASIC commissioner Sean Hughes said the stock exchange regulator wanted new investors to be aware that investing…
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