Major cryptocurrency bitcoin breached the key $30,000 level for the first time in 10 months on Tuesday, adding to its steady gains as investors raised bets that the U.S. Federal Reserve will soon end its aggressive monetary tightening campaign. Bitcoin peaked at $30,438 in Asian trade and was last up 1.4 percent at $30,070. It…
Hong Kong Retains Fourth Place as Finance Centre, Falls out of Top Ten Fintech Hubs
According to the latest Global Financial Centre Index (GFCI) report jointly compiled by UK-based think tank Z/Yen and the China (Shenzhen) Institute of Comprehensive Development, Hong Kong ranks fourth out of 120 financial centers worldwide, as it did six months ago, with New York, London, and Singapore still in the top three. Although Hong Kong’s…
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…
The Role of Crypto in the Fintech Industry and the Wider Economy
Over the past couple of years, modern society has witnessed the increasing prevalence and adoption of Blockchain technology. However, for the Padawans out there who think of the Blockchain as a network of nano-bots ready to overtake humanity, the Blockchain is basically just a set of code that records events, and each record is unalterable….
Decentralized Finance 101—What It Is and Why It Matters
Blockchain is still a nascent technology, but it is perhaps the biggest disruption mechanism that the world of finance has had to deal with. Decentralized finance has gained popularity over the previous year, and not many people fully understand its promise and its pitfalls. Currently, traditional big banks and FinTech startups divide the world of…
What’s Defi and Is It Worth It? Decentralized Finance Explained
April 28, 2022
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In a world where centralized finance is struggling, decentralized economics is taking the reins. Also known as DeFi, this exciting new development is made up of a variety of applications that run on top of blockchain technology. These applications aim to take control away from third-party intermediaries and put it back into the hands of…
Senator Warns of ‘Digital-Only’ Fintech Companies Posing as Banks, People’s Money ‘At Risk’
Fintech companies that offer online banking services can be dangerous and cause users to lose their money, Sen. Sherrod Brown (D-Ohio), chairman of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, warned in an interview with Business Insider. Users should be wary about fraud, privacy breaches, and hidden fees while using fintech services,…
Visa Collaborates With Fintech Firm Tribal: Report
Leading payment processor Visa Inc. collaborated with payment and financing firm Tribal, Reuters reports. Visa looks to expand its offerings for small-and-medium-sized businesses in Latin America and the Caribbean. The partnership would expand credit lines, update encryption and safety measures, and improve card distribution. Tribal backed by investors including SoftBank Group Corp.’s Latin America Fund, offers credit cards and…
The Risks of CCP China’s Digital Yuan Are Understated: Part I
December 21, 2021
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Commentary This is the first of a two-part article articulating the risks of CCP China’s new digital yuan, the e-CNY. Part I details the risks to people and businesses in CCP China. Part II addresses the geopolitical and geostrategic risks of the digital yuan to other nations and Western-style democracies. GCHQ, the UK’s…
TurboTax Maker Intuit to Buy Mailchimp for About $12 Billion in a Data Play
Intuit Inc., known for its small-business accounting and DIY tax-filing software, said on Monday it will acquire digital marketing company Mailchimp for about $12 billion in a cash-and-stock deal. The deal, expected to close by the second quarter of fiscal 2022, is Intuit’s biggest-ever acquisition. It will be financed through cash on hand and new…
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