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Economist Peter Schiff has cautioned that the present banking crisis is the cusp of a much worse financial crisis. “It’s going to get much much worse if you are going to try to dismiss it,” he stressed. Citing the Federal Reserve’s recession forecast, he warned: “Normally the Fed doesn’t forecast
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Leadership in the United States House of Representatives Financial Services Committee was not satisfied with Securities and Exchange Commission head Gary Gensler’s response to their request for documents. They have reached out to the SEC chairman again in a sharply worded letter. Committee chair Patrick McHenry and chair of the Oversight
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New technologies have changed the role advisors play for their clients. Now that discounts platforms, apps and algorithms have increasingly replaced their function as brokers and stock pickers, offering education on how to navigate the emerging financial landscape will be key. Original Source
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Virgin Money has launched a digital platform that caters comprehensively to first-time and professional investors. Virgin Money has launched a digital retail wealth management platform for traders through a joint venture partnership. The Virgin Group financial services brand partnered with British-based global investment platform Abrdn to grant investor access to various investment funds.
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Web3 in Africa began with cryptocurrency, with blockchain technology bringing a lot of transformation regarding transparency and people’s control over their finances. The Web3 economy in Africa continues gaining traction with decentralized finance-based financial inclusion.Fonbnk, the Web3 on-ramp that allows Africans to obtain cryptocurrency assets by exchanging their airtime credits, has partnered
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The Avalanche Evergreen Subnet will expand to onboard more third-party applications, assets, and processes. After Avalanche Blockchain launched Evergreen Subnet earlier in the month, financial institutions like T.Rowe Price have joined the ‘Spruce’ test net to participate in DeFi use cases. Wisdom Tree, Cumberland, and Wellington have also joined the
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T. Rowe Price Associates, together with several prominent Wall Street companies, is set to explore the potential of the Avalanche blockchain to revolutionize financial trade execution and settlement using a new application called Spruce. T. Rowe Price Associates is joining forces with several Wall Street companies to explore the Avalanche blockchain’s
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The International Monetary Fund’s (IMF) economic counselor has warned of the side effects of sharp monetary tightening. Noting that “Inflation is much stickier than anticipated,” he stressed that “financial risks have risen.” IMF Economist’s Warning Pierre-Olivier Gourinchas, Economic Counsellor and the Director of Research of the International Monetary Fund (IMF), shared his
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While the posting doesn’t mention boosted regulatory efforts, Canada did set a March 24 deadline for entities to commit to stricter requirements for crypto exchanges with a presence in the country. Some exchanges, including Coinbase and Gemini, have said they will remain active in Canada, while others like OKX, dYdX
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“In order for Web3 to steadily take the road of innovative development, we will adopt a strategy that emphasizes both ‘proper regulation’ and ‘promoting development,’” said Chan. “In terms of proper supervision, in addition to ensuring financial security and preventing systemic risks, we will also do a good job in
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