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Federal Reserve Likely to Cut Interest Rates the Most Among Central Banks Next Year, Research Shows

A weaker dollar often becomes a tailwind to risk assets, including bitcoin, as occurred in the second half of 2020 and early 2021. The greenback is a global reserve currency, playing an outsized role in global trade and non-bank borrowing. When the dollar strengthens, it causes financial tightening worldwide, disincentivizing

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Cosmos Hub greenlights ATOM inflation cut for security boost

The governing body of Cosmos Hub has endorsed a proposal to decrease the maximum inflation rate of its native token, Cosmos (ATOM), from 14% to 10%.According to the proposal, the authorized modification would reduce ATOM’s annualized staking yield from around 19% to approximately 13.4%. The Cosmos Hub is the primary blockchain

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India’s Controversial TDS Crypto Tax Should Be Cut if the Government Wants to Boost Revenue, Transparency, Esya Centre Urges

The tax, a form of income tax known as TDS, has prompted as many as 5 million crypto traders to move their transactions offshore, and has cost the government a potential $420 million in revenue since it was introduced in July, 2022, according to the study by the Esya Centre. Source

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Pennsylvania crypto mining permit halt cut from bill after union pressure

A Pennsylvania House Representative has cut a two-year crypto mining ban from their bill to regulate the sector’s energy consumption claiming trade labor unions pressured the change.On Oct. 16, the Pennsylvania House Environmental Resources and Energy Committee passed the Cryptocurrency Energy Conservation Act by a slim margin — 13 for

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Alphabet’s AI Lab DeepMind Cut Employee Costs by 39% in 2022, Reported Decline in Profit

Despite these financial challenges, Google, which acquired DeepMind in 2014, has committed to extending financial support to the company for at least another 12 months from September 28. DeepMind, Alphabet Inc‘s (NASDAQ: GOOGL) division responsible for developing general-purpose artificial intelligence (AI) technology, reduced employee expenses by 39% last year within its cost-cutting

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Kazakh crypto miners plead with president to cut energy prices

Local crypto-mining operators in Kazakhstan — the world’s third-largest market in terms of Bitcoin mining hash rate — are complaining about high energy prices to the country’s president. According to local media, eight major cryptocurrency mining operators signed an open letter to President Kassym-Jomart Tokayev. The list includes BCD Company, TT

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