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Moody’s recently downgraded the U.S. credit rating outlook to “negative” from “stable.” This has led to speculation that Bitcoin could be a safe haven asset for investors looking to hedge against the potential risks of a weakening U.S. economy. Moody’s Investors Service has indicated a potential downgrade of the U.S.’s top
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Fitch’s downgrade of U.S. debt this week is a warning to American policymakers and r underscores why Bitcoin and other open monetary systems matter. Source
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Welcome to Latam Insights, a compendium of the most relevant crypto and economic development news from Latin America during the last week. In this issue, Bolivia passes a law to sell gold for dollars, the Central Bank of Argentina bans fintech companies from using crypto, and Fitch improves El Salvador’s
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Bank of Russia raised its forecast for the profits of Russian banks in 2023, expecting results that may break the 2021 record. This year’s high numbers are coming after 2022 became the worst annual period in seven years for the sanctioned Russian banking sector in terms of financial outcome. Banks
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The bank slashed its price target for the crypto exchange to $65 from $80. Source
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Coinbase will be “acutely pressured in the near-term” as its retail customer base trades less frequently in the bear market, but the company has staying power due to its healthy balance sheet with over $5 billion in cash, it's proactive approach to regulatory compliance, prudent risk management and its legitimacy
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The last year has been an eventful one for the crypto space. The collapse of the Terra ecosystem and its TerraUSD (UST) algorithmic stablecoin saw $50 billion wiped off the market in a flash. And more recently, FTX, an exchange many thought was “too big to fail,” came crashing down.
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Before you select an NFT marketplace, you should ask what kind of digital quality you would like to buy, sell, or produce. Artwork, video games, collectibles, and many other things may be monetized digitally on blockchains like Ethereum because it is the foremost common blockchain network for NFT creation. Also,
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Ratings company Fitch downgraded El Salvador's long-term foreign currency issuer default rating (IDR), saying it is likely to default on a bond repayment due January. Original Source
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