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U.S. Treasury Secretary Janet Yellen and Federal Reserve Vice Chair Lael Brainard have stressed the need for strong crypto regulation. Yellen said the FTX collapse shows “the weaknesses” of the entire crypto sector while Brainard cautioned that failures from one platform are “spilling over into elsewhere.” Yellen: Crypto Needs ‘Very Careful
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The CEO of investment management firm Ark Invest has warned that if the Federal Reserve does not pivot, the current economic setup will be similar to 1929 when the Great Depression started. Tesla CEO and Twitter chief Elon Musk agreed. The Fed, Inflation, and the Great Depression Ark Invest CEO Cathie Wood,
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United States law enforcement officials announced on Monday that the U.S. Department of Justice (DOJ) seized “approximately 50,676.17” bitcoin from a Silk Road thief. The latest seizure adds to the cache of bitcoins the U.S. government holds today as three forfeitures during the last two years have led to a
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The U.S. central bank’s key inflation gauge, the personal consumption expenditures (PCE) price index, increased by 0.5% in September, according to data released by the U.S. Commerce Department on Oct. 28. Meanwhile, markets expect with near-certainty that the Federal Reserve will codify its fourth consecutive rate hike by 75 basis
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This month, the European Union (EU) agreed on the text for a unified licensing regime for cryptocurrency exchanges to operate across the EU bloc as part of its Markets in Crypto Assets Regulation (MiCA). The United States — despite being a traditional global leader in legal frameworks for technological innovation
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“Crypto assets have grown rapidly in the last several years, both in market capitalization and in reach," said Barr. "But recent fissures in these markets have shown that some crypto assets are rife with risks, including fraud, theft, manipulation and even exposure to money-laundering activities ... Crypto asset-related activity, both
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Friday’s Employment Situation report, scheduled for release at 8:30 a.m. by the Labor Department’s Bureau of Labor Statistics, will likely show a similar weakening in the job market, surveys show. According to FactSet, economists expect an increase of 250,000 jobs in September, in a slowdown from the 315,000 reported for
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The metaverse is a futuristic iteration of the internet, featuring a digital economy and an immersive virtual environment alongside other interactive features. This relatively nascent space has gained so much traction in recent years that conservative estimates suggest that by 2024, its total valuation could top $800 billion. Meta (the
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Even though year-over-year inflation cooled to 8,3% in August from 8.5% in July, core inflation, which is more closely watched because it excludes volatile food and energy prices, rose 0.6% during the month, compared with an 0.3% increase during the month before. Source
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Studies show that most people who attempt to wash trade nonfungible tokens (NFTs) are unprofitable. But that doesn’t stop them from trying, which makes it a glaring regulatory and enforcement issue for the industry. In wash trading, manipulators buy and sell an asset between themselves to create the appearance that the
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