The legendary hedge fund manager – Paul Tudor Jones III – said he will always keep a “small” exposure to bitcoin since it is “the only thing that humans can’t adjust the supply in.” The American billionaire also suggested that the US Federal Reserve will cease its aggressive interest rate hike policy. Many experts previously...Read More
The Federal Reserve announced another small increase to its benchmark rate on Wednesday, bringing it between 5% and 5.25%. Bitcoin’s price remained relatively flat on the announcement, fluctuating between $28,000 and $28,500. The increase was largely in line with expectations, with the market only pricing in an 11.8% chance that the Federal Open Markets Committee...Read More
Robert Kiyosaki – an American businessman, investor, and motivational speaker better known as the author of the bestseller “Rich Dad, Poor Dad” – praised bitcoin’s impressive performance in the past 12 months, predicting its price to keep rallying in the future. He said he will buy more BTC as he doesn’t trust the Federal Reserve...Read More
Former Richmond Federal Reserve President Jeffrey Lacker believes the Fed should – and will – remain firm in hiking interest rates at its upcoming March meeting, and subsequent meetings thereafter. Despite a series of bank failures this month that was partly induced by rising rates, the ex-chair believes more will be necessary to combat inflation....Read More
Bill Ackman – an American billionaire investor and Founder of Pershing Square Capital – thinks the US Federal Reserve should temporarily halt its policy to stabilize the local banking system and prevent contagion. Tesla’s CEO and one of the world’s richest people – Elon Musk – urged the central bank to drop the interest rates...Read More
Strike CEO Jack Mallers believes Bitcoin is primed to pump following the Federal Reserve’s $300 billion injection into the banking sector last week. Mallers predicts that the US dollar is entering a new era of persistently high inflation, which will only benefit Bitcoin. Is Higher Inflation Inevitable? Speaking with CNBC, co-anchor Kelly Evans asked the...Read More
The cryptocurrency exchange BitMEX outlined some possible scenarios that could unfold in the coming months for the cryptocurrency industry. It believes the Federal Reserve will most probably cease its interest rate hikes by the end of the year, triggering a flow of funds into global capital markets and risk-off assets. Cryptocurrencies, such as bitcoin and...Read More
European regulators and policy experts are dismayed by how American watchdogs handled the collapse of Silicon Valley Bank last weekend.Certain policymakers take issue with the Fed’s “systemic risk exception,” which they believe could undermine the credibility of banking globally. Critiques of the Bailout According to the Financial Times, a senior eurozone official said the Federal...Read More
Crypto-friendly Signature Bank was under criminal investigation by U.S. authorities over its anti-money laundering practices before its sudden collapse over the weekend, Bloomberg reported Wednesday, citing people familiar with the matter. According to the report, investigators from the Department of Justice (DOJ) in Washington and Manhattan and people from the Securities and Exchange Commission (SEC)...Read More
America’s 3 federal bank regulators had a clarifying message for banking organizations on Thursday: servicing the crypto industry is neither illegal nor discouraged. That said, the institutions – including the Federal Reserve, Federal Deposit Insurance Corporation (FDIC), and Office of the Comptroller of the Currency (OCC) – named various risks to keep in mind when...Read More
Robert Kiyosaki – the author of the bestseller “Rich Dad, Poor Dad” – thinks bitcoin will surge to $500,000 by 2025 due to an incoming market crash and a consecutive distrust in the US dollar. He has previously warned people to avoid traditional fiat currencies during uncertain times and focus on BTC or gold. Kiyosaki’s...Read More
Roger Ferguson – former vice chairman of the Federal Reserve – has offered his analysis of the central bank’s latest interest rate hike and the press conference that followed on Wednesday.. Ferguson believes that the Fed and the market do not agree on what the central bank will do next. The latter, he claims, is...Read More
Michael Burry – the famous American investor and hedge fund manager who predicted the 2008 financial crisis – deleted his personal Twitter account. In his latest tweet from last night (February 1), he advised investors to “sell.” However, most markets, including the cryptocurrency one, surged after the Federal Reserve increased the interest rates from 4.5%...Read More
David Kelly – Asset Management Chief Global Strategist for JP Morgan Chase – said it’s time for the Federal Reserve to quit hiking interest rates if it wants to keep the U.S. economy intact. Having “won” its war against inflation, the analyst claimed that the central bank now risks tipping the economy into a recession. ...Read More
The consumer price index excluding food and energy (core CPI) numbers will be released by the United States government on Thursday, January 12. Although the most recent months saw a decline in the inflation rates compared to the peaks in the summer of 2022, the estimates still show a painful picture. Here Are the Expectations...Read More
The Consumer Price Index (CPI) releases showing the current inflation rate in the USA and the Federal Open Market Committee (FOMC) meetings which determine the rate hikes in the country, have resulted in significant price swings in the cryptocurrency market over the past several months. In the following, we take a look at the events’...Read More
The bear market has been relentless. The little upward momentum gathered last week came to halt. For the most part, the price action has been at the mercy of good and bad news. The whales are hibernating, and with little volatility, Bitcoin is, by far and large, directionless. But experts are impatiently gearing up for...Read More
Arthur Hayes – co-founder of the crypto trading platform BitMex – published a lengthy blog post on Thursday arguing that central banks will be forced back into “money printing” due to various economic pressures. That money printing, he argued, will create inflation that drives up the price of alternative forms of money, like crypto and...Read More
Philip Jefferson – one of the Federal Reserve’s three newest governors – has re-emphasized the central bank’s plans to continue fighting inflation. The former college professor said he and his colleagues are committed to taking “further steps necessary” to address the problem, and gave no indication that they would consider dovish monetary policy in the...Read More
The United Nations Conference on Trade and Development (UNCTAD) released a report on Monday warning that central bank monetary and fiscal policy is putting the global economy in danger. It claimed that U.S. interest rate hikes in particular will cut $360 billion in future income from developing countries. A Crisis in Developing Countries According to...Read More
The author of the best-seller believes the US Federal Reserve will continue to raise interest rates, which will ultimately push the prices of BTC, gold, and silver down even more. However, this presents a good buying opportunity that could make investors smile in the future. Buy BTC Now, Says Kiyosaki Robert Kiyosaki used to be...Read More
Billionaire investor Stanley Druckenmiller said that crypto could make a comeback as citizens begin to distrust their central banks. The hedge fund manager sees this outcome as increasingly possible given the state of the global economy, and the Fed’s uphill battle against both inflation and recession. Recession is Coming, Says Druckenmiller During an interview at...Read More
Federal Reserve Chairman Jerome Powell said that a central bank digital currency (CBDC) in the U.S. would “not be anonymous” during an event hosted by the Bank of France on Tuesday. He described the key properties that would underpin a CBDC if implemented – one of which includes being “identity verified.” Private, But Not Anonymous...Read More
On the nervous global backdrop, the much anticipated “Merge” eventually transpired as a sell-the-news type of event. Cryptocurrencies suffered fresh declines in the wee hours of Monday morning. The global market cap fell to $909 billion, with a trading volume of $79.54 billion over the past 24 hours. Major assets such as Bitcoin and Ethereum...Read More
With the US Federal Reserve firming up its ante against inflation and dismissing discussions about any softening of monetary policy. JPMorgan’s chief global strategist, David Kelly, has made some suggestions for crypto investors concerned about the direction of the market. In an interview Friday after Fed Chair Jerome Powell’s speech at Jackson Hole, Wyoming, Kelly...Read More
The insolvent crypto brokerage firm Voyager has been contacted by both the Federal Reserve and Federal Deposit Insurance Corporation (FDIC). Both bodies have demanded that the company correct all misleading statements it has previously made concerning the deposit insurance coverage of Voyager and its customers. False Claims from Voyager In a joint press release on...Read More
Somewhat surprisingly, the crypto market reacted quite well to the latest interest rate hike from the US Fed, with prices soaring to new weekly highs. As such, the number of liquidated traders on a daily scale is over 90,000, while the total value of liquidations is $400 million. As CryptoPotato reported yesterday, the primary cryptocurrency...Read More
Federal Reserve Vice Chairwoman Lael Brainard urged policymakers to toughen up regulatory scrutiny on the crypto industry in a speech given at the Bank of England conference on Friday. Once again, the Chair emphasized the risk of the crypto market crash spilling over to the core financial ecosystem because of the lack of targeted regulation...Read More
It comes as no surprise that worsening macro-factors have been the cause of the current crypto bear market. However, Coinbase confirmed the notion in a blog post on July 5, adding that the other third was caused by a weakening outlook for cryptocurrencies. Coinbase noted that the correlation between crypto and traditional markets has risen...Read More
The Federal Reserve published the latest “Monetary Policy Report” on Friday, categorizing the stablecoin industry – particularly the algorithmic stablecoins – as a risk of financial instability. Meanwhile, it expressed concern regarding the concentration of fiat-backed stablecoins on Tether’s USDT and Binance’s BUSD. Fed’s Latest Take on Stablecoins Given the rapidly growing digital asset markets,...Read More
