Robert Kiyosaki, author of the best-selling book Rich Dad Poor Dad, believes that certain assets, including Bitcoin, will become “priceless” as the Federal Reserve works on a controversial project. Kiyosaki has 2.4 million followers on the social media platform X, and he has warned them that the Fed’s central bank digital currency (CBDC) will make […]
The Bank for International Settlements (BIS) and the central banks of France, Singapore, and Switzerland have recently announced the successful completion of a new CBDC initiative called Project Mariana. This project tested cross-border trading and settlement of wholesale central bank digital currencies (wCBDCs) between financial institutions.The project leverages the concepts of Decentralized Finance (DeFi) technology […]
Georgia is taking a major step towards digital currency with the National Bank of Georgia (NBG) aiming to ensure that its central bank digital currency (CBDC), the digital lari, can interoperate with a future digital euro while maintaining the nation’s monetary independence. The NBG recently announced its plans to progress research on the digital lari […]
JPMorgan CEO Jamie Dimon has warned that the global economy may not be ready to face the worst-case scenario of the U.S. interest rate rising as high as 7%, according to a Bloomberg report on Tuesday. Since March 2022, the Federal Reserve has increased the benchmark borrowing cost by 525 basis points to the 5.25%-5.5% […]
Swift, a global financial messaging network, has announced that three central banks have initiated beta testing for their Central Bank Digital Currency (CBDC) interlinking solution. This development signifies a significant stride towards achieving greater interoperability between traditional fiat currencies and their digital counterparts. Over 30 financial institutions have joined the experimentation fray, further testing the […]
This week is set to be an important one for September, with several major developments taking place. From inflation numbers to interest rates, here are three things to watch out for. Today, the United States Securities and Exchange Commission and Binance will have an important hearing regarding a case between the two. The SEC has […]
The Hong Kong Monetary Authority (HKMA) has warned crypto firms that it is illegal for any unauthorised company or platform to refer to themselves as a “bank” or deposit-taking business. The regulator has reminded the public that only HKMA-licensed providers can use the term bank or take deposits from the public.Using terms such as digital […]
The United States House Financial Services Committee is moving forward with legislation to prevent the issuance of a central bank digital currency (CBDC). On Sep. 20, the Committee will mark up two bills related to a potential digital dollar. The first bill, the Digital Dollar Pilot Prevention Act, or H.R. 3712, prohibits the Federal Reserve […]
The latest Consumer Price Index (CPI) report from the Bureau of Labor Statistics showed a 3.7% year-over-year (YoY) increase in August, a pickup from the 3.2% increase in July. Rising energy prices largely fueled the uptick, with prices rising 0.3% even when stripping out the volatile food and energy categories. Markets reacted to the report […]
Bitcoin has been on a bull run for the past six months, and according to BitMEX co-founder and former CEO Arthur Hayes, the market is yet to respond but will in the next six to 12 months. Hayes argued that the bull run began on March 10, the day Silicon Valley Bank (SVB) was taken […]
