Nonfarm payroll data shows the worst U.S. jobs gain in seven months, limiting concerns of Federal Reserve tapering this year. The S&P 500 slid to the intraday highs of Sept. 2 while Bitcoin (BTC) climbed to its highest levels in more than three months. The moves came as a key report on Sept. 3 showed…
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All the recent money creation from the Federal Reserve wasn’t enough, according to a few American bureaucrats, as three politicians from the House Financial Services Committee are urging U.S. president Biden to replace Fed chairman Jerome Powell with someone who will address “climate risk.” AOC, Tlaib, Pressley: ‘Climate Change Is a Warning of the Potential…
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Bitcoin bulls remain pressured under $50,000 in the week that would shed more light on the Federal Reserve’s taper outlook based on non-farm payroll numbers. The heavy selling in the U.S. dollar market at the end of last week assisted Bitcoin (BTC) to climb above $49,000. However, BTC struggled to extend its climb above $50,000,…
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Long-term Bitcoin holders remain unfazed by the recent sell-off, but there is still one alarming sign. A recent run-down in Bitcoin’s (BTC) price from about $65,000 to as low as $30,000 did not force long-term holders into selling, Glassnode data shows. The on-chain analytics platform revealed a spike in Bitcoin reserves held in wallets with…
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New data shows a dramatic rise in the number of Bitcoin wallets holding anywhere between 100 BTC to 1,000 BTC — but there may be a catch. The amount of Bitcoin (BTC) held by whales increased by around 14% after Tesla announced its foray into the cryptocurrency sector in early February 2021. The latest data…
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Billionaire Stanley Druckenmiller thinks some kind of crypto-derived ledger system may replace the U.S. dollar as the world’s reserve currency in the future. Billionaire hedge fund manager Stanley Druckenmiller has forecast the possibility of a crypto-derived ledger system overtaking the U.S. dollar as a global reserve currency. The hedge fund boss noted that if there…
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The House minority leader said the United States should not take a backseat to China when it comes to digital currencies. Kevin McCarthy, the minority leader in the United States House of Representatives, hinted that both the current secretary of the treasury and the chair of the Federal Reserve may need to reevaluate their positions…
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An important new role for the world’s first cryptocurrency as an inflation gauge — or just another fantasy of Bitcoin maximalists? Throughout the middle of March, many Americans received stimulus checks from the government, and while the payments — $1,400 for every U.S. citizen earning less than $80,000 annually — will be a blessing for…
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The U.S. does not want cash to go extinct in the presence of a CBDC, according to the Fed’s chairman. Many expect that a time could soon come when central bank digital currencies, or CBDCs, replace physical dollars once and for all. Comments from United States Federal Reserve Chairman Jerome Powell, however, indicate that this…
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Longstanding sagas in crypto saw major plot development and even a conclusion or two in this week’s newsletter. Every Friday, Law Decoded delivers analysis on the week’s critical stories in the realms of policy, regulation and law. Editor’s note One day in the not-so-distant future, the curious experience of episodic television with its week-by-week gaps…
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