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Securities and Exchange Commission (SEC) commissioner Hester Peirce has spoken out against crypto company bailouts, arguing it’s actually better to “let these things play out,” to create a more sustainable industry. Peirce, the most pro-crypto commissioner for the United States SEC, told Forbes that the recent crash in crypto, though painful, is separating strong companies from the weak. “When things are a bit harder in the market, you discover who’s actually building something that might last for the long, longer term and what is going to pass away,” she said.…
Input Output Hong Kong (IOHK), the blockchain engineering firm behind the Cardano network has released some “disappointing news”, announcing a one-month delay to the long-awaited Vasil upgrade. The Vasil upgrade is set to provide a “massive performance improvement to Cardano” and its smart contract capabilities according to Cardano co-founder Charles Hoskinson. It was previously slated to go through on June 29, however the latest estimate is now set for the last week of July. IOHK’s head of delivery and project Nigel Hemsley noted in a June 20 blog post that…
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Goldman Sachs’ economists now see an increased risk of a U.S. recession. “We are increasingly concerned that the Fed will feel compelled to respond forcefully to high headline inflation and consumer inflation expectations if energy prices rise further, even if activity slows sharply,” they explained. Goldman Sachs on Increased Risk of Recession Goldman Sachs’ economists, led by chief economist Jan Hatzius, explained in a note Monday that the global investment bank has cut its growth forecasts for the U.S. economy, warning that the risk of a recession is rising, Bloomberg…
XRP was consolidating between $0.24 and $0.33 for the last one week. The altcoin registered an upside over the last 24 hours. XRP registered demand which caused the coin to witness recovery on its chart. The cryptocurrency market also registered an overall rise in prices as buyers were slowly re-entering the market. The broader market despite increase in price is still in a fragile, hence it is difficult to ascertain whether XRP will continue its bullish stride in the long term. At the current moment, XRP has secured the support…
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Tesla and Spacex CEO Elon Musk has shared his views on a variety of topics, including crypto investing, why he supports the meme cryptocurrency dogecoin, “unresolved matters” in his Twitter takeover bid, and the likelihood of a near-term U.S. recession. Elon Musk on Crypto Investing Tesla CEO Elon Musk shared his thoughts on a wide range of topics in an interview with Bloomberg News’ John Micklethwait at the Qatar Economic Forum Tuesday. Crypto investing was among the topics discussed. Musk was asked whether he thinks people should still invest in…
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Ether and most major altcoins spent much of the day in the green; a crisis in confidence has put pressure on the USDT peg. Source