Cryptocurrency Analysis and News Portal
A U.S senator has introduced the “No Digital Dollar Act to prohibit the U.S. Treasury and the Federal Reserve from interfering with Americans using paper currency” if a central bank digital currency is adopted. The bill further states: “No central bank digital currency shall be considered legal tender under section
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USDC's stablecoin-fueled model of money, in which the dollar functions as an open “protocol,” could allow innovation to flourish. But healthy competition is a prerequisite. Source
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Following the Bank of England explaining that it would be meddling in U.K. bond markets and the Bank of Japan defending the yen in the foreign exchange market last week, the Hong Kong Monetary Authority (HKMA) revealed it intervened in forex markets on Wednesday. Hong Kong’s central bank detailed that
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The largest cryptocurrency by market capitalization has weathered severe macroeconomic uncertainty in recent weeks to maintain its current threshold, Source
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The partnership aims to improve people’s access to dollar-linked stablecoins in countries with rapidly devaluing currencies. Original Source
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Bitcoin has displayed some strength during today’s trading session after re-visiting the bottom of an important trendline. The benchmark crypto has been
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Meanwhile, what’s directly hammering dollar exchange rates is a more technical second-order impact of rising prices in the U.S. As Jerome Powell and the Federal Reserve raise interest rates to fight domestic inflation, American dollars and Treasury instruments become far more attractive investments. That’s part of why U.S. stocks are
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The U.S. dollar is soaking up global liquidity, so “everything else is starved,” Glen Goodman, a longtime trader and author, said on CoinDesk TV’s “First Mover.” Original Source
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Bitcoin (BTC) will see increased interest from the United Kingdom “very quickly” as fiat currency volatility makes BTC look like a stablecoin.That was the conclusion from Gabor Gurbacs, strategy adviser at investment giant VanEck, one of many flagging Bitcoin’s appeal over the pound this week.UK becomes fertile ground for Bitcoin
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The pound, in particular, fell to an all-time low of $1.035 on Monday as the government's plan to implement the biggest tax cuts in 50 years while boosting government borrowing and spending amid high inflation spooked investors. The Chinese yuan fell to 7 per dollar, the lowest since May 2020,
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