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Uday Kotak, the CEO of Kotak Mahindra Bank, a financial institution based in India, recently expressed his view on the dominance of the U.S. dollar in global financial markets. Kotak stated that the U.S. dollar has “disproportionate power” as a reserve currency, retracting his previous statement in which he referred
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Bitcoin (BTC) starts a new week digesting major macroeconomic news as the United States sees the second-largest bank failure in its history.After a sideways weekend, BTC/USD was already volatile into the new weekly and monthly candle as downside kicked in.After steadying below $29,000, BTC price action is already facing more
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For Consensus 2023 we at CoinDesk are adding something new and timely: Intimate group discussions, in which a cross-section of interested parties – including developers, investors, government officials, entrepreneurs, and non-profits – will seek solutions to the crypto industry’s thorniest challenges. Coinciding with CoinDesk’s 10-year anniversary, it reflects a commitment
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The leading cryptocurrency by market value fell by 9% to $27,600, registering its largest single-week percentage loss since early November, according to data from TradingView and CoinDesk. The yield on the 10-year U.S. Treasury note rose by six basis points (bps) to 3.58%, its second straight weekly gain, denting the
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In a congressional hearing, White House economist Jared Bernstein says there’s “some evidence” that China wants the U.S. dollar to lose its status as the world’s reserve currency. However, U.S. Senator Bill Hagerty stressed that the biggest threat to the USD dominance comes from within. China Wants to See U.S. Dollar
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Per Bernstein, the new crypto cycle is still not fully appreciated, with a number of positive factors lining up. These include macro catalysts, a new bitcoin mining cycle, the continued successful upgrades of the Ethereum blockchain, and the success of Ethereum scaling ecosystems such as Arbitrum. Original Source
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Failing to utilize tax loss harvesting is one of the biggest mistakes people make on their tax returns, according to Danny Talwar, the head of tax at crypto tax software firm Koinly.Speaking to Cryptox ahead of the April 18 United States tax deadline, Talwar said that for those investors who
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In crypto news this week, the Ethereum network’s long awaited Shapella upgrade took effect, unlocking staked ether. In the broader financial world, economist Harry Dent has predicted a massive crash to hit by mid-June, bank lending plummeted by a record $105 billion in two weeks, and the USD’s ability to
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Following the IPO, Rakuten Bank is billed to finally go public on the Tokyo Stock Exchange on April 21. Rakuten Bank, the financial services offshoot of the Japanese conglomerate Rakuten Group is set to go live following a successful float of its Initial Public Offering (IPO). According to a report from
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The Australian government is being pushed to ban the payment of cyber ransoms, usually demanded in cryptocurrency, following a local business suffering a mass data breach and subsequent ransom demand.Australian consumer lender Latitude Financial first announced on March 16 that it was hit by a cyberattack and provided an update
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