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Federal Reserve’s Michael Barr highlights the risks of unregulated stablecoins, emphasizing the need for robust federal oversight in the evolving digital currency landscape. Michael Barr, the Federal Reserve’s leading authority on banking oversight, has voiced robust concerns regarding stablecoins operating outside the oversight of federal regulation. While Federal Reserve officials have articulated
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Saudi Arabia has ramped up its economic diversification efforts driven by its ambitious Vision 2030. In a bid to diversify its economy away from a dependence on oil, the kingdom has embraced emerging technologies, such as blockchain and artificial intelligence (AI), and tapped into booming markets like gaming.But while the country
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Similarly, through their deal with Mastercard, users can deposit money into ATMs and receive USDC in their wallets, with a 1% fee. His next goal is to roll out a micro-loan program for users to increase access to credit and to spur economic development. The goal is to slowly educate
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Fintech, Web3, and artificial intelligence are one economic whole, and our ability to grow each relies on their deep synthesis, says Lex Sokolin, founder of Web3 investment fund Generative Ventures. Source
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In the latest episode of Macro Markets, Cryptox analyst Marcel Pechman discusses the recession in Germany, Europe’s largest economy. According to a recent headline in The Wall Street Journal, “Germany is dragging down Europe’s economy.“ The article explains how the country heavily depends on manufacturing, which has been hurt as
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ALSO: Singapore ranked second in CryptoX's Crypto Hubs survey. The city state raised billions through IPOs, weathered the collapse of homegrown darlings Terraform Labs and Three Arrows Capital and is now searching for the right regulatory balance to encourage crypto without getting burned again. Source
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There is a recorded plunge in business activity as Europe reels from rising inflation and a consistent increase in interest rates. Business activity in Europe is waning as the region suffers slow economic growth. Recent data shows that the euro zone’s flash composite Purchasing Managers’ Index (PMI) fell from 52.8 in
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Ether, the second largest crypto in market value, was similarly sluggish to recently change hands at about $1,655, also about flat from Wednesday, same time. Similar to BTC, ETH hit a three-month low on Wednesday. Meanwhile, Tether’s USDT stablecoin deviated from its $1 dollar peg early Thursday (ET) amid a
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Move-to-earn platform Sweat Economy is set to repurpose over 2 billion native $SWEAT tokens that were locked up in inactive user wallets.The tokens, valued at around $10 billion, were locked up in dormant user accounts following a token airdrop event in Sep. 2022. According to the platform, Sweatcoin users that
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A Ugandan Bitcoiner embarked on a community-funded trip from East Africa to Central Europe after winning tickets to BTC Prague for his adoption-driving efforts in his home country.Brindon Mwiine, the founder of Ugandan-based Bitcoin (BTC) platform Gorilla Sats, set off on a whirlwind journey from Uganda’s capital Kampala to the
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