A circular bitcoin economy in Guatemala is using resources that would otherwise be wasted to fuel a local bitcoin mining operation, giving its resident financial autonomy and demonstrating a viable economic path outside of the government-controlled economy. Patrick Melder, MD, founder of the circular economy coined “Bitcoin Lake,” told Bitcoin Magazine that its “Kaboom” bitcoin mining project is the result…
NFTs have become the biggest crypto on-ramp for countries in Central and Southern Asia, as well as Oceania, according to a report from Chainalysis on Wednesday. The blockchain analytics firm noted that, in Q2 2022, 58% of web traffic from these countries to crypto services was NFT-related. NFTs are unique blockchain-based tokens that are used to represent ownership over other…
Two days ago, U.S. president Joe Biden was criticized for claiming inflation in America hasn’t increased during the past few months. “I’m telling the American people that we’re going to get control of inflation,” Biden stressed during his “60 Minutes” interview that aired on Sunday night. Amid Biden’s claims, ahead of the next Federal Reserve meeting on Wednesday, the U.S.…
Can we all agree that the Federal Reserve has a plan to combat runaway inflation? They do. Chair Jerome Powell has all but admitted it. After tempering his comments before previous rate hikes, allowing wiggle room which gave way to market rebounds, Powell has left no bones about this one. It is necessary to wreak some havoc on the economy…
Nomura, one of the largest investment banks in Japan, has established a venture capital arm aimed at investing in companies focusing on crypto and blockchain. In a Wednesday announcement, Nomura said the business, named Laser Digital, will “provide new value in the area of digital assets” for clients under the Switzerland-based holding company Laser Digital Holdings AG. The investment bank…
The Federal Open Markets Committee (FOMC) raised U.S. interest rates by 75 basis points on Wednesday, the third hike in a row of such a size as it wrestles with stubborn inflation levels. The market was pricing 82% probability of a 0.75% increase in rates ahead of the release of Fed’s statement at 2 p.m. ET, according to CME’s FedWatch…
The Hong Kong Monetary Authority (HKMA) published a paper outlining the state of research on its proposed retail central bank digital currency (rCBDC) and plans for its further development. This is the third paper the HKMA has published on the e-HKD, as the proposed CBDC is called. The proposed rCBDC would have a two-tier structure consisting of a wholesale interbank…
Crypto exchange Binance received a Minimal Viable Product (MVP) license from Dubai’s Virtual Asset Regulatory Authority (VARA), enabling the crypto exchange to offer a range of virtual asset services to qualified retail and institutional investors, the company disclosed on Tuesday. The development follows the issuance of the provisional license granted in March, which permitted the company to set up an…
The Federal Reserve hiked rates by 75 basis points on Sept. 21 and Fed Chair Jerome Powell projected another 125 basis points increase before the end of the year. If that happens, it will take the benchmark rate to 4.4% by the end of the year, which is sharply higher than the June estimates of 3.8%. The Fed also intimated…
The Federal Reserve hiked rates by 75 basis points on Sept. 21 and Fed Chair Jerome Powell projected another 125 basis points increase before the end of the year. If that happens, it will take the benchmark rate to 4.4% by the end of the year, which is sharply higher than the June estimates of 3.8%. The Fed also intimated…
