Cryptocurrency Analysis and News Portal
This week’s “Money Reimagined” episode is framed by some bombshell news developments that are adding fuel to a fire of mistrust in authority that’s been allowed to kindle into a raging threat to global financial institutions.This episode is sponsored by Quantstamp.Hosts Sheila Warren and Michael Casey are joined by Wall
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As of 11:16 UTC, the cryptocurrency was trading 8% higher on the day near $47,400. The broader crypto market is also positive, with native cryptocurrencies of smart-contract blockchains like VeChain, Tezos, and Elrond gaining more than 8%. Ethereum’s ether traded 7% higher at $3,245. Source
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Federal Reserve Chairman Jerome Powell believes the federal government needs to regulate the cryptocurrency market, but that a blanket ban on Bitcoin (BTC) and other digital assets is not in the cards.Speaking in response to a question from Republican Representative Ted Budd of North Carolina, Powell clarified that a China-style
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Since March 2020, the Fed has been buying assets worth $120 billion a month via a monetary-stimulus program known as quantitative easing, or QE. The program, launched to contain the economic fallout from the coronavirus pandemic, triggered unprecedented asset price inflation. Bitcoin, for one, charted a 10-fold rally to $64,801
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“There’s extensive private innovation, a lot of which is taking place outside the regulatory perimeter,” Powell said. ”Where the public’s money is concerned, we need to make sure that appropriate regulatory protections are in place. And today there really are not, in some cases.” Original Source
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This episode is sponsored by NYDIG.Download this episodeA reading of JP Koning’s essay for Cryptox “Are Central Bankers Ready for Payments Theater?”See also: Biden Administration Plans Cryptocurrency Sanctions to Combat Ransomware“The Breakdown” is written, produced by and features NLW, with editing by Rob Mitchell and additional production support by Eleanor
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The Federal Reserve chairman Jerome Powell has directed his staff to start an ethics inquiry into the financial activities of Fed members, as a number of senior central bank officials are being questioned for their investments. Reports indicated last week that the president of the Dallas Federal Reserve branch, Robert
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Americans are still very concerned about inflation as the latest Survey of Consumer Expectations (SCE) report from August indicates that U.S. consumers expect inflation to be 5.2% a year from now. The SCE response data hasn’t been this high since 2013, and it’s increased since the month prior, when U.S.
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