‘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 […]

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Digital Remittances Reach Record High of $96 Billion, Fees Charged by Traditional Providers Open Door for Cryptocurrencies

Digital Remittances Reach Record High of $96 Billion, Fees Charged by Traditional Providers Open Door for CryptocurrenciesIn a globalized world where labor follows capital, the remittance industry has been growing constantly in both volume and users. Traditional providers like banks and money transfer companies have been charging high fees for their services which creates opportunities for alternative digital platforms and decentralized cryptocurrencies. Also read: Russians Can Use Qiwi, Sberbank, Yandex Money […]

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German Economy in Risk of Recession Amid Weak Demand, Tariff Threat, and Epidemic

German Economy in Risk of Recession Amid Weak Demand, Tariff Threat, and EpidemicGermany, the economic powerhouse of Europe, is facing renewed challenges that may soon push it towards recession. Falling industrial production and dwindling factory orders are the prime cause of concern. The negative results have been announced on the backdrop of weak demand from Eurozone countries, U.S. threats for import tariffs, and the fallout from the […]

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Bitcoin Trust GBTC Shares Spike Despite 30% Premium

Bitcoin and cryptocurrency prices have seen significant gains as the entire cryptoconomy is up more than 40% since mid-December. Grayscale’s Bitcoin Trust (GBTC) has also seen an uptick and shares have climbed 9% this week. The news follows the asset manager’s recent registration as a reporting company with the Securities and Exchange Commission (SEC) and […]

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US Bank Silvergate Sees Growth in Crypto Clients, Despite Decreasing Deposits From the Sector

US Bank Silvergate Sees Growth in Crypto Clients, Despite Decreasing Deposits From the SectorFinancial results released by two U.S. banks providing services to the crypto industry have indicated a decline in deposits from digital currency customers. However, a positive trend has been observed as well. One of the crypto-friendly institutions, Silvergate Bank, has seen an increasing number of crypto clients throughout the year. Also read: Swiss Bank Julius […]

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Telegram Rejects SEC Request to Hand Over Bank Records for TON

Telegram Rejects SEC Request to Hand Over Bank Records for TONTelegram Group, the company behind the TON blockchain project, has reportedly refused to share information with the SEC showing how much it spent of the $1.7 billion raised from investors in the past couple of years and where. In a recent court filing, the securities regulator alleges that Telegram has declined to provide bank records […]

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China Takes Another Step Away From USD Hegemony

China Takes Another Step Away From USD HegemonyThe China Foreign Exchange Trade System (CFETS) announced that effective January 1, 2020, the system “will adjust weights for CFETS RMB Index,” decreasing the weighting of the USD for the second time in the currency basket’s history from 22.40% to 21.59%, and increasing the Euro from 16.34% to 17.40%. The change could signal further disassociation […]

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Greek Court Suspends Decision to Extradite Alexander Vinnik

Greek Court Suspends Decision to Extradite Alexander VinnikThe Supreme Administrative Court of Greece has suspended a decision to extradite the alleged BTC-e operator Alexander Vinnik. The temporary measure has been imposed to allow the review of an appeal against the extradition. The Russian national, accused of laundering billions of dollars through the now defunct cryptocurrency exchange, started a new hunger strike last […]

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SEC Approves Bitcoin Futures Fund

SEC Approves Bitcoin Futures FundThe U.S. Securities and Exchange Commission (SEC) has approved an investment fund that will invest in bitcoin futures contracts. SEC Commissioner Hester Peirce calls this move “a bit of progress.” The SEC has also revealed why it decided to approve such a fund. Also read: Swiss Licensed Crypto Bank Expanding Into 9 Markets Bitcoin Futures […]

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Why Central Banks Are Not Designed for Democracies

Why Central Banks Are Not Exactly Part of DemocraciesThrough their policies, central banks exert tremendous influence over the socio-economic conditions in a country and its business environment. Their decisions are so powerful that it’s obvious they are part of the government. But most people would be surprised to find out that central banks are almost never part of the due democratic process. Also […]

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