Day: July 17, 2022

White House Reporter Says Inflation Has Become ‘Biden’s Political Nightmare’ as Critics Slam Government Spending – Economics Bitcoin News

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While the latest Bureau of Labor Statistics Consumer Price Index (CPI) report indicates U.S. inflation has continued to print perpetual new highs, U.S. president Joe Biden is losing ground on his climate bill. The Biden administration’s recent budget negotiations and tactics toward dealing with inflation have been criticized by West Virginia’s senator Joe Manchin who thinks specific parts of the climate bill could wait. Amid the political tussle, the U.S. government and Federal Reserve have been accused of massive spending, as bureaucrats continue to fuel weapons contractors, war, and the…

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Central African Republic Greenlights Bitcoin As Reserve Asset

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Summary: Bitcoin is set to serve as a reserve asset in the Central African Republic. The leading coin was recently approved as legal tender in the African state following a proposal from key lawmakers. CAR also launched its Sango coin and sidechain project to complement and power crypto adoption nationwide. Initiatives like natural resource tokenization accompanied the launch of Sango as well. Bitcoin adoption in CAR has faced stiff opposition from entities like the IMF and the Bank of Central African States.  The Central African Republic (CAR) has planned to…

Equitiesfirst Named as ​​Mystery Debtor to Celsius, $439 Million Owed to Crypto Lender – Bitcoin News

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Ever since Celsius paused withdrawals on June 12, the company has been the focus of attention due to the lender’s financial hardships. A month later, Celsius filed for bankruptcy in the U.S. by leveraging the Chapter 11 process. Two days after the bankruptcy filing, a report disclosed that two people familiar with the matter allege that the private lending platform that owes Celsius $439 million is Equitiesfirst. FT Sources Allege Private Lending Platform That Owes Celsius $439M Is Equitiesfirst During the last few weeks, bankruptcies, liquidations, and insolvencies have been…

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Blockchain Technology can Radically Revamp Government Structures, Cardano Founder Says

Blockchain technology has the capability of revolutionizing government structures from the whelms of archaic processes to modern ones, according to Cardano founder Charles Hoskinson.  Speaking on Yahoo Finance’s The Crypto Mile, Hoskinson disclosed that blockchain technology promises to generate better governance on a global scale.    For instance, this cutting-edge technology can create a tax revenue system that is open source, enabling everyone to see the origin and destination of the money collected.   He pointed out: “The point of cryptocurrencies and blockchain technology is to take those resources…

Preference For Ripple XRP Surges Among BSC Whales

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There has been a long ongoing lawsuit between Ripple (XRP) and the United States Securities and Exchange Commission (SEC). Throughout the case, Ripple’s native token, XRP, has not seen any progressive growth. This stagnation in its price move has lingered even before the emergence of the extreme crypto winter. But things seem to be taking a dramatic twist for XRP recently. With the ruling of the case, the price of XRP is positively waking. Also, the crypto coin is gradually becoming the leading choice for most BSC whales. Related Reading…

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