LONDON—The U.S. dollar eased from a 2–1/2-month high versus the yen on Friday and looked set for its first weekly loss against major peers since January as traders tried to gauge the path for Federal Reserve policy. The yen, which is particularly sensitive to U.S.–Japanese long-term interest rate differentials, looked set to halt its six-week…
Crypto Investors Pull Billions Out of Binance’s Stablecoin After Regulator Crackdown
March 2, 2023
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Investors have been pulling billions out of Binance’s stablecoin after a securities regulator crackdown. The crypto exchange’s stablecoin, Binance USD (BUSD), has witnessed a massive outflow of $6 billion in cash by investors following the subjugation by the Securities and Exchange Commission (SEC) of Paxos, the company that issues the token, reported the Financial Times….
Euro Falls Against the Dollar After Eurozone Inflation Data
LONDON—The euro fell against the dollar on Thursday after data showed inflation in the eurozone was not as high as investors had feared based on national readings in recent days. Eurozone inflation eased to 8.5 percent in February from 8.6 percent a month earlier on lower energy prices, but still came in above a predicted…
The Case for CryptoCurrency
Commentary Most people have heard about cryptocurrency. If you listen to Warren Buffet’s partner Charlie Munger, you would have heard it is a fraud. My own problem with cryptocurrency is it’s all promises with no delivery. No one has built anything useful yet. When you talk to proponents of cryptocurrency, they will regale you with…
US Judge Permits Lawsuit Claiming NBA Top Shot NFTs Are Securities
NEW YORK—The creator of a marketplace for National Basketball Association Top Shot non-fungible tokens must face a lawsuit claiming that the tokens are securities, a U.S. judge ruled on Wednesday. U.S. District Judge Victor Marrero in Manhattan rejected Dapper Labs Inc.’s bid to dismiss a proposed class action by purchasers of NBA Top Shot Moments,…
IMF Opposes Making Cryptocurrency Legal Tender
February 24, 2023
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The International Monetary Fund (IMF) recommended that cryptocurrencies like Bitcoin should not be legal tender, and issued an action plan to member states. The IMF released a nine-point action plan on Feb. 24 on how countries could suppress the popular use of crypto assets. On Feb. 8, the financial agency’s executive board provided guidance to IMF…
Fiat Money Has Won the Battle Against Cryptocurrencies, Says BIS Chief
February 23, 2023
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Agustin Carstens, head of the Bank for International Settlements (BIS), believes the battle between cryptocurrency and fiat currencies has come to an end, with the latter emerging as the winner. Fiat currency refers to money that has legal tender by government decree. “That battle has been won … A technology doesn’t make for trusted money,”…
Sovereign Cryptocurrency: A Grim Future of Control
Commentary Sovereign digital currency will give the government complete control over the economy of people’s private lives. The British government announced that it would be phasing in a sovereign cryptocurrency. It also said that citizens would be limited to 20,000 digital pounds. The motivation to move toward a national cryptocurrency backed by the Bank of…
Black Market Boom | The Dark Web Ep2 | Documentary
February 17, 2023
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This film is only available in North America and the UK because of territorial licensing. Drugs, guns, counterfeit documents, and much more are sold on dark web marketplaces that run on anonymous browsers and use cryptocurrency. AlphaBay was the biggest marketplace, transacting over $800,000 in a day. …
Stocks Shrug Off Rate Risks as Data Tempers Recession Worries
February 16, 2023
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Stocks rose on Thursday as economic data from around the world fed hopes that the global economy might not face as hard a landing as feared a few months ago, even as interest rates threaten to remain higher for longer than expected. The pan-European STOXX 600 index rose 0.5 percent, while London’s FTSE 100 continued…
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