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JPMorgan Outlines 4 Global Outlook Scenarios — Warns of ‘Boil the Frog’ Recession as Global Downturn Looms

Global investment bank JPMorgan has presented four probable global outlook scenarios, with “boil the frog” recession emerging as the most likely outcome. The bank’s economists warned: “Broad-based developed-market tightening points to a m...

United States Plunges in Economic Freedom Rankings, Study Reveals

American television presenter and author, John Stossel, released a video on June 20, 2023, where he delved into the findings of a recent study on global economic freedom. Conducted by the Heritage Foundation and unveiled in late February, the researc...

Report: Cuban Peso Parallel Market Rate Plunges to Low Last Seen in Oct. 2022

The parallel market exchange rate of the Cuban peso versus the greenback recently dropped to CUP200 per dollar, a level last seen in Oct. 2022, a report has said. Pavel Vidal, a former economist at the Cuban central bank, said the peso’s deprec...

Indonesia Labels 501 Cryptocurrencies as Commodities, Paving the Way for Regional Adoption

In contrast to the regulatory stance taken by the U.S. Securities and Exchange Commission (SEC), the Commodity Futures Trading Supervisory Agency (CFTSA) of the Republic of Indonesia has officially labeled 501 cryptocurrencies as commodities. The lis...

Biggest Movers: DOGE, SHIB Slip on Monday, as Traders Capture Recent Gains

Dogecoin dropped by nearly 3% on Monday, as traders began to take profits following last week’s gains. Cryptocurrency largely consolidated to start the week, with the global market cap down 0.64% as of writing. Shiba inu was another coin to move lowe...

Dormant Bitcoin Wallets From 2010 Resurface: 100 Bitcoins Transferred After More Than 12 Years

Following the spending of 50 bitcoins from 2010 on June 15, after more than 12 years of dormancy, approximately 11 days later, another group of dormant wallets created in 2010 transferred 100 bitcoins worth just over $3 million for the first time in...

Bitcoin, Ethereum Technical Analysis: BTC Drops Below $31,000, After Becoming Overbought

Bitcoin fell below $31,000 to start the week, as traders seemingly moved to secure gains, as the cryptocurrency became overbought. The relative strength index (RSI) rose to its highest point since January, prompting bears to reenter the market. Ether...

Circle CEO Jeremy Allaire: ‘Other Governments Are Regulating Digital Dollars Before the US’

Jeremy Allaire, CEO of Circle, the company behind the issuance of usd coin (USDC), has expressed his worries about the state of stablecoin regulation in the U.S. In a congressional hearing, Allaire stated that other governments were already regulatin...

Metagalaxy Land Ushers in Advanced Metaverse Experience, Bolstered by Investment from Blockchain Incubator 10SecLabs

PRESS RELEASE. 10SecLabs, a leading force in the blockchain incubation landscape, has taken a significant investment leap into the innovative Metagalaxy Land project. This development comes ahead of Metagalaxy Land’s much-anticipated Metaverse...

Economist Jim Rickards Warns of a CBDC-Supported Social Credit System in the US: ‘It Can Happen Here’

Jim Rickards, an economist and investment banker, has warned about the establishment of a social credit system powered by the issuance of a central bank digital currency (CBDC). According to Rickards, this combination could be used to restrict the ci...

Crypto Companies in Japan Get Tax Relief Under Revised Rules

The tax administration of Japan has provided an exemption to companies issuing cryptocurrencies under a revision of the corporate tax rules. A local crypto media report described the move as a step toward improving the business environment for the di...

Report: Dozens of Chinese Nationals Arrested in Libya for Operating Illegal Crypto Mining Farm

Around 50 Chinese nationals have reportedly been apprehended by Libyan authorities following allegations of running a cryptocurrency mining facility within the city of Zliten, local reports detail. Cryptocurrency mining is strictly prohibited by law...

Brit Gets Prison Time for Twitter Hack Impersonating Biden, Buffett in Bitcoin Scheme

A U.K. citizen has been sentenced by а New York court to five years in prison for his role in a Twitter hack including the hijacking of accounts of U.S. political and business figures. The man is also responsible for the theft of large amounts of cry...

Latam Insights — IMF States Latam’s CBDC Interest Rises, Lula Emphasizes Bretton Woods Institutions ‘No Longer Function’

Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue, the International Monetary Fund (IMF) reports interest in central bank digital currencies (CBDC) in Latam and...

San Francisco Fed President Deems 2 Rate Hikes in 2023 ‘Reasonable,’ Urges Caution in Monetary Policy

Mary Daly, the president of the San Francisco Federal Reserve Bank, expressed her views this week, stating that she believes two additional rate hikes this year would be appropriate. However, she maintains a neutral stance regarding the forthcoming J...

Paris FATF Plenary: Global Implementation of Virtual Asset Standards Remains ‘Relatively Poor’

The third plenary of the Financial Action Task Force (FATF), held in Paris, found a lack of global adoption of the virtual asset recommendations established by the institution. According to evaluations, almost three-quarters of the jurisdictions are...

Turkish Lira Plunges to Record Low a Day After Central Bank’s Interest Rate Policy U-Turn

The Turkish lira fell to 25.74 per dollar just under a day after the central bank hiked interest rates for the first time since 2021. Although the rate hike decision was widely anticipated, the increase still fell short of the 21% that some analysts...

End of an Era: Over 4 Years Pass Without Self-Proclaimed Satoshis

Satoshi Nakamoto, a captivating figure in the world of cryptocurrencies, remains an enigma, intriguing both crypto enthusiasts and experts. Numerous individuals have stepped forward over the years, proclaiming themselves as the elusive creator of Bit...

Crypto Market Rises by $30B in 48 Hours — Bitcoin Cash Leads With 88% Weekly Gain

On Sunday, June 25, the cryptocurrency market experienced a modest increase in value, climbing from $1.21 trillion two days prior to its current value of $1.24 trillion. Bitcoin has surged 15% in the past week, while ethereum has risen over 10% again...

Garlinghouse: SEC Official Received ‘Millions’ From Vested Interests, Tradfi Heavyweight Crypto Exchange EDX Launches, Peter Schiff on USD Decline — Week in Review

Ripple CEO Brad Garlinghouse recently asserted that former SEC Division of Corporation Finance Director William Hinman “received millions of dollars of payments from his law firm” which had a vested interest in a well-known 2018 speech given by the t...

Study Shows Bank of England’s Rising Interest Rates Threaten 1.2 Million UK Households With Insolvency

The Bank of England made an impactful move last Thursday, June 22, 2023, as it raised the benchmark bank rate to 5%, marking a significant 0.5 percentage point increase. This decision catapults the central bank’s rate to its highest level since...

Veteran Trader Peter Brandt Labels BTC a Legacy Coin to Outlast ‘Make-Believe Cryptos Wannabees’

Veteran trader Peter Brandt recently branded BTC as a legacy coin that will ultimately outlast and outperform all “make-believe cryptos wannabees.” Some non-bitcoin maximalists have said the veteran trader’s remarks about...

Banking Giants Crédit Agricole, Santander Seek to Provide Crypto Custody Under French Registration

A subsidiary co-owned by Crédit Agricole and Santander has registered as a digital asset service provider in France. The registration of Caceis, a company that specializes in offering financial services to institutional investors, allows the two majo...

What is De-Dollarization? Exploring the Shift Away From the US Dollar’s Global Dominance

From the latter half of 2022 and continuing into 2023, the concept of de-dollarization has gained significant traction, making its mark on the mainstream media. This surge in attention can be attributed to the concerted efforts of BRICS countries suc...

US Treasury Secretary Defends Dollar Dominance as Emerging Markets Push to De-Dollarize

U.S. Treasury Secretary Janet Yellen has defended the dominance of the U.S. dollar amid rising efforts by emerging countries to de-dollarize. Brazilian President Luiz Inácio Lula da Silva, in particular, is set to raise the issue of de-dollarization...

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