The United States is embarking on a campaign toward the introduction of a CBDC, or central bank digital currency. As part of the White House's first- ever comprehensive framework, the Treasury Department is now suggesting the creation of a national stablecoin or CBDC. To counter China's advancements on the CBDC, five panelists at a hearing for the U.S. House Committee on Financial Services on...
Despite criticism from various quarters, the phenomenon of algorithmic stablecoins continued to gain popularity until recent past. After the massive decline in $UST’s value earlier this week, all the spotlight is on the vulnerability of these code-based stablecoins. Criticism Clouded Algorithmic Stablecoins Questions were raised in the past over a lack of collateral that supported...
The Cuban central bank released regulations for virtual asset service providers on Tuesday, a move that some experts believe could help the Communist-run Caribbean island avoid hefty US sanctions. Cuban Central Bank Announces Crypto License The Central Bank of Cuba (BCC) has declared that virtual asset service companies would be granted licenses. The license will be available to both Cuban and foreign individuals...
The Telegraph’s latest hatchet job on El Salvador’s bitcoin strategy is right on the money. In a hilarious twist of events, mainstream media’s latest attack on the volcano bonds makes the case for bitcoin in all its glory. Everything that the article “The...
While so far, the US Federal Reserve doesn’t know whether it will issue its own central bank digital currency (CBDC), Lael Brainard, Federal Reserve Board Governor, on Friday highlighted several re...
United States President Joe Biden is poised to release a crypto executive order this week, an administration official with knowledge of the matter disclosed. The EO will direct government agencies to conduct detailed examinations of various areas of the crypto asset landscape in order to develop an extensive regulatory framework. According to reports, the...
The audiovisual part of the “Bitcoin in El Salvador” documentary is truly amazing. Dutch national Arnold Hubach, Bitcoin Magazine NL’s editor, got shots that are out of this world. He recorded the good, the bad, and the ugly about the whole Bitcoinization process. The man is obviously partial to Bitcoin but, from the political point of view, he gave us much needed neutral...
Jeff Gundlach, the Billionaire investor, DoubleLine Capital CEO, also known as the "Bond King" has commented against the price of the dollar in the foreseeable future. Additionally, he said that Bitcoin prices may also reduce considerably. Dollar is Doomed Jeff Gundlach shared that the state of inflation in the US is bad, and especially post-pandemic The post Bond King, Gundlach thinks dollar is...
The Bitcoin 2021 conference is over. The lessons remain. This time, they turned off the livestream’s chat. An elegant solution. A wasted opportunity, the virtual community couldn’t gather around the fire. But hey… much better than watching robots pushing low-quality projects non-stop. And it was easier to focus on the presenter’s words. Still, it felt like something was amiss....
Key Bitcoin Price Outlook Bitcoin reaches a short-term resistance trendline that constitutes a descending channel pattern. The cryptocurrency risks upside rejection heading into the weekend session. Its downside target lurks near $55,000. Sliding US bond...
If global central banks are any indicator, the bitcoin price can continue its supersonic bull run despite hitting a pause in the past three weeks. At the core of the bullish theory is the US dollar. True, the global store of value has attempted impressively to emerge out of its 2020 bearish trend, the one that...
Bitcoin and the US dollar have stopped caring about their inverse correlation heading into 2021. The flagship cryptocurrency closed the first quarter more than 100 percent higher as more and more institutions became accustomed to its safe-haven characteristics. For instance, US carmaker Tesla...
Bitcoin went into an upside mania in the first quarter of the year. The flagship cryptocurrency surged by roughly 102 percent as investors showed no fears of risk-taking. On the contrary, they embraced it as interest rates on government bonds rose but remained near their historically low levels. New rounds of government stimulus packages further pushed investors to risky corners of the market,...
Many Bitcoin strategists and investors started 2021 with deep-rooted convictions that the US dollar would weaken. But so far into the year, their predictions have proven to be false. While Bitcoin has gained 73 percent against the dollar since the start of January, extending its uptrend further since the pandemic rout in March 2020, the greenback is trading higher against a basket of...
In this episode of Unchained, Chad Cascarilla, CEO and cofounder of Paxos, explains how the 2008 financial crisis led him to crypto, what financial plumbing has to do with GameStop, and how Paxos is leveraging blockchain technology to change financial services. In this episode Chad discusses: his work experience prior to Paxos and...
Halfway through the first quarter of 2021, the US dollar has performed fairly better against the booming risk-on sentiment that has witnessed the S&P 500, the Dow Jones, the Nasdaq Composite, and even Bitcoin achieve their respective record highs. The greenback showed resilience against bears in the...
Bitcoin prices finished the last week slightly higher despite a rebound in the US dollar. The flagship cryptocurrency ended 2.63 percent higher on the Coinbase exchange for the week. Meanwhile, the new weekly session began on a positive outlook. Bitcoin was up 1.47 percent, trading slightly above its short-term support level of the 20-day exponential moving average of $33,461. With no big events...
Gregory Pepin, deputy CEO of Deltec Bank and Trust, responds to allegations in a blog post by the pseudonymous Crypto Anonymous, that Tether is a "highly probably fraud." In this episode, he covers: how Deltec accounts for its reserves, and why they didn't show up on Crypto Anonymous's blog post...
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