Bitcoin Not Affected as US Fed Prints Equivalent of 9.8M BTC in 1 Day
The Fed is piling in dollars with no intrinsic value to “help” bank liquidity in the wake of coronavirus volatility Go to Source Powered by WPeMatico
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The US Dollar Could Fall Out of Favor If It Doesn’t Go Digital, ING Economist Says
Facebook’s Libra, as well as CBDCs, could lead to changes in currency usage preferences, and ING economist explained Go to Source Powered by WPeMatico
Coronavirus Prompts Fed to Slash Interest Rate – Stocks Slide, Gold Spikes, Bitcoin Uncertainty
The U.S. Federal Reserve slashed interest rates by 50 bps on Tuesday citing concerns about the coronavirus outbreak against the bleak economy. The last time the central bank slashed rates by leveraging an “emergency rate shift” by half a percentage point was after Lehman Brothers filed for bankruptcy in 2008. The announcement didn’t have a … Read more
A Sea Change to Crypto Hits America, Again
A sea change is coming to cryptocurrency in America. It is likely to hit in two separate waves: a central bank digital currency (CBDC) and draconian regulation that shuts down free-market activities, including development. Also Read: No Backdoor on Human Rights: Why Encryption Cannot Be Compromised The Wave of a Central Bank Digital Currency Robert … Read more
Why Banks Aren’t Banking Your Crypto Startup
The compromised reputation of the crypto industry is the main obstacle for the banking sector’s integration into the space Go to Source Powered by WPeMatico
Fed Coronavirus Rate Cut May Beat Bitcoin Inflation After 2020 Halving
The Fed may bring short-term rate under 1% this year, traders are betting as coronavirus continues its spread Go to Source Powered by WPeMatico
Bitcoin Halving Will Drop Inflation Rate Lower Than Central Banks’ 2% Target Reference
When Satoshi Nakamoto invented Bitcoin, the creator designed the protocol to be an inflationary currency, one that is predictable as bitcoin’s inflation always decreases every four years. Today, 77 days before the reward halving, BTC’s inflation rate is around 3.6% and it’s expected to drop to 1.8% after the halving event. The cryptocurrency’s inflation rate … Read more
‘Central Banking Is Socialism for the 1%’ – Report Cites Wealth Inequality Driven by Stimulus
For a while now, central banks like the Federal Reserve have been participating in quantitative easing (QE) practices, despite the fact they don’t like to call it QE. Following the massive dollar injections, a recent report from the wealth insights provider Wealth-x details the number of wealthy people in the world spiked in 2019. The … Read more
Regulatory Roundup: Trump’s Cryptocurrency Proposals, IRS Changes Rule, China Quarantines Cash
In this roundup, we cover numerous cryptocurrency regulatory developments in the U.S., including President Trump’s crypto proposals, testimonies by the Federal Reserve chairman and the Treasury secretary, a crypto-friendly SEC proposal, and the IRS changing a crypto tax rule. We also cover China quarantining yuan bills, its central bank filing 84 digital currency patents, 40 … Read more
Bitcoin and Cryptocurrency Are ‘Like a Giant Garbage Dumpster,’ Says Minneapolis Federal Reserve President
The president of the Federal Reserve Bank of Minneapolis, Neel Kashkari, said on Tuesday that bitcoin and other cryptocurrencies are “like a giant garbage dumpster.” He would rather his one-year-old daughter have a low yielding Treasury bond than a bitcoin, emphasizing that all that’s emerging from the crypto world “is burning garbage.” Also read: Fed … Read more