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The United States Federal Reserve began its most aggressive quantitative tightening efforts in March 2022, raising benchmark interest rates in the year since from near-zero to 4.75% to 5% annually. While the central bank has successfully brought down inflation to some degree, the increasing interest rates are starting to cause
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A new world order could be emerging as economic powerhouses increase their efforts to distance themselves from US dollar hegemony.According to reports, a top Russian official has claimed that the BRICS alliance is working on creating its own currency. BRICS is an acronym for five leading emerging economies: Brazil, Russia,
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Bitcoin (BTC) investors reeling from the shock of recent cryptocurrency company failures and banking issues may face another potential problem: a recovering United States dollar.US dollar strength reemergesNotably, the U.S. Dollar Index (DXY), which tracks the greenback’s performance against a basket of top foreign currencies, has risen 4% from its
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How Policy Shaped Crypto’s Banking Prospects Source
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Following the FTX collapse and amid the aftermath, people have been wondering about the company’s Crypto Bahamas conference that was scheduled to happen on April 17-20, 2023, at the exclusive Grand Hyatt Baha Mar, in Nassau. The event planned for April 2023 was supposed to be hosted by the now-bankrupt
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Ripple (XRP) price was wobbling between profits and losses on Sept. 19 despite hopes that Ripple would eventually win its long-running legal battle against the U.S. Securities and Exchange Commission (SEC).Ripple and the SEC both agreed to expedite the lawsuit on Friday to get an answer on whether $XRP is a
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A mild sense of hope emerged among Bitcoin (BTC) investors after the June 18 drop to $17,600 becomes more distant and an early ascending pattern points toward $21,000 in the short-term.Bitcoin 12-hour USD price at FTX. Source: TradingViewRecent negative remarks from lawmakers continued to curb investor optimism. In an interview
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El Salvador’s president Nayib Bukele has announced that 44 nations are coming together in El Salvador to discuss Bitcoin. Apart from discussing Bitcoin, significant emphasis will be laid on topics such as financial inclusion, banking the unbanked, digital payments, and El Salvador’s bitcoin rollout and its benefits. President of El Salvador Nayib
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East Africa is set to welcome a new cryptocurrency exchange backed by a formidable list of industry heavyweights looking to tap into a continent full of potential users.Coinbase Ventures, Alameda Research, Huobi Ventures and other prominent venture capital firms and angel investors have contributed $23 million to launch MARA. The
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The U.S. dollar's ability to continue its rally in Q2 could prove fatal for Bitcoin (BTC), which has demonstrated inverse correlation with the dollar since January 2022.BTC/USD daily price chart featuring correlation with DXY. Source: TradingViewDollar paints "bull flag"The U.S. dollar index (DXY), which measures the greenback's strength against a
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