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Roughly 26 days ago and in the following days, the U.S. witnessed two significant bank failures when Silicon Valley Bank and Signature Bank collapsed. After speaking at an event on Monday at Yale University, Janet Yellen, the current U.S. Treasury secretary, told reporters that she was closely monitoring the banking
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On Sunday, Saudi Arabia and several major oil producers announced their plan to cut oil production by 1.15 million barrels per day, starting in May and continuing until the end of 2023. According to the Saudi Energy Ministry, the move was coordinated with some members of the Organization of the
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According to current statistics, the Bitcoin network is fewer than 56,000 blocks away and less than 400 days away from the next reward halving. After the next halving, the block reward will be reduced by 50%, and the current block subsidy of 6.25 bitcoins will drop to 3.125 bitcoins per
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Venture capital firm and Web3 game developer Animoca Brands has refuted claims that it scaled back its Metaverse fund target by $200 million, or 20% to $800 million amid volatility in the crypto market and instability in the banking sector. The firm also down-played suggestions that its valuation has plummeted
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Billionaire Jeffrey Gundlach, aka the “Bond King,” has predicted that the Federal Reserve will be cutting interest rates substantially soon. “Red alert recession signals,” he added, noting that all U.S. Treasury yields two years and out are “well below the fed funds rate.” Doubleline CEO on Fed Rate Cuts and Recession Jeffrey
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Accenture said that amid the overall inflationary environment and rising interest rates, there’s a drop in the levels of business confidence among its clients. On Thursday, March 23, tech consulting giant Accenture (NYSE: ACN) announced that it is planning to cut 2.5% of its workforce, or 19,000 jobs worldwide. The
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Galaxy Digital CEO Mike Novogratz has warned of a credit crunch in the U.S. and globally. Emphasizing that “we are heading into a recession,” he expects the Federal Reserve to cut interest rates “sooner than we think.” Novogratz on Global Credit Crunch and Recession Galaxy Digital CEO Mike Novogratz shared his outlook
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The Federal Home Loan Bank of San Francisco, the bank that supplied $4.3 billion to Silvergate late last year, did not force Silvergate to repay the advances which have been rumored to be the reason why the crypto-friendly bank went into voluntary liquidation, it said. Original Source
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Apple’s continued enforcement of in-app purchases to sell services remains a trade-off for NFT applications looking to tap into the convenience of streamlined in-app purchases for iPhone users and a massive user base around the world.As previously reported, Apple maintains strict rules for nonfungible token (NFT) apps, enforcing a 30%
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Crypto investors are bracing for impact as crypto analysts warn that the current market pressure may be far from over, with bitcoin and other major digital assets facing lower price targets. Crypto analyst and Youtuber, Crypto World, describes his visions and expectations for the price of bitcoin in the upcoming days.
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