In what is a surprising development, Professor Nouriel Roubini, dubbed ‘Dr. Doom’ by many in the crypto-community because of his skeptical remarks about Bitcoin and cryptocurrencies, seems to have softened his stance on Bitcoin. During a recent interview, Roubini said that Bitcoin can be considered a partial store of value because it cannot easily be...Read More
The 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...Read More
China’s Hengfeng Bank is set to get a $14.2 billion bailout from both Chinese government and foreign investors. An emergency decree has been approved to bail out southern Italy’s biggest lender, Banca Popular di Bari. Germany continues to struggle with bailout pains, as regional bank Nordlb finds itself now depending on another capital injection. None...Read More
