Month: October 2022

Rishi Sunak Becomes UK Prime Minister — He Wants to Make Britain a Global Crypto Investment Hub

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Britain’s former Chancellor of the Exchequer Rishi Sunak has become the country’s new prime minister, succeeding Liz Truss who resigned after 44 days in office. The leader of the Conservative Party previously said: “It’s my ambition to make the U.K. a global hub for cryptoasset technology.” Rishi Sunak Takes Office as U.K. Prime Minister Rishi … Read more

Treasury Secretary Janet Yellen: US Financial Stability Risks Could Materialize, Cites ‘Dangerous and Volatile Environment’

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Treasury Secretary Janet Yellen has warned that financial stability risks could materialize in the U.S. Noting that “Inflation remains too high, and we are contending with serious global headwinds,” she stressed that the Treasury is “closely monitoring the financial sector, as global developments have led to increased market volatility.” Janet Yellen Warns of Financial Stability … Read more

US Charges Chinese Spies in Scheme to Bribe Government Employee With Bitcoin to Steal ‘Secret’ Documents

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The U.S. has charged two Chinese intelligence officers in a scheme to bribe a U.S. government employee to steal “secret” documents relating to the prosecution of a company in China. The defendants paid the government employee, who is actually a double agent, approximately $61,000 in bitcoin for stealing the information, according to the U.S. Department … Read more

Yuan Taps New Low Versus US Dollar as Investors React to Endorsement of Chinese President’s Third-Term Bid

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The Chinese yuan’s offshore exchange rate against the U.S. dollar fell to a new all-time low of 7.33:1 just over a day after the conclusion of the Chinese Communist Party’s congress which gave President Xi Jinping the mandate to lead the country for the third time. Concerns over Xi’s unprecedented third term, as well as … Read more

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