Month: March 2023

Economist Peter Schiff Expects Worse Financial Crisis Than 2008 — Says ‘Future Rate Hikes Are Now Pointless’ – Economics Bitcoin News

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Economist Peter Schiff has warned that the current financial crisis will be worse than in 2008. “Future rate hikes are now pointless,” he stressed, adding that any effect will be more than offset by the Fed’s quantitative easing. Peter Schiff’s Financial Crisis Warning Economist and gold bug Peter Schiff shared his outlook for the U.S. economy in a series of tweets this week. He explained that when the government “imposed lots of new banking regulations after the 2008 financial crisis, we were assured that what is happening right now would…

Switzerland preparing emergency measures for UBS’ takeover of Credit Suisse: Report

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The Swiss National Bank (SNB) and Switzerland’s financial regulator reportedly believe that the acquisition of investment bank Credit Suisse by UBS, Switzerland’s largest bank, is the “only option” to prevent a “collapse in confidence” in Credit Suisse. According to a March 18 Financial Times report citing three people familiar with the situation, Switzerland is preparing to use “emergency measures” to accelerate the takeover by UBS of Credit Suisse, in an effort to finalize the acquisition before “markets open on Monday.” It was noted that the emergency measures set in place…

Balaji Srinivasan Says Hyperinflation Happening Now — Makes Million-Dollar Bets on Bitcoin Price Exceeding $1M in 90 Days – Economics Bitcoin News

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Venture capitalist and angel investor Balaji Srinivasan says hyperinflation is happening now. Expecting the price of bitcoin to soon hit $1 million, he is making million-dollar bets that it will happen in 90 days. Srinivasan also advised investors to buy bitcoin, which he believes to be “a hedge against hyperinflation, monetary debasement, bank freezes, and wealth seizure.” Balaji Srinivasan: Hyperinflation Is Here Venture capitalist Balaji Srinivasan believes that hyperinflation is happening now. Srinivasan is an angel investor, tech founder, and a Wall Street Journal bestselling author. He formerly served as…

Vietnam second largest ASEAN crypto holder

Vietnam is the second largest cryptocurrency holder in ASEAN region after Thailand, with over 16.6 million cryptocurrency holders. According to the Coin98 Insights Vietnam Crypto Market Report 2022, Vietnam has an average of 200 distributed ledger blockchains as of 2022. 31% of the 16.6 million crypto holders have bitcoin. Vietnam embraces crypto The most active blockchain projects in the country include NFTs (non-fungible tokens), GameFi (game finance), infrastructure, wallets, DeFi (decentralized finance), and web3 (decentralized Internet). Metaverse platforms and games projects make up 28.8% of blockchain projects. DeFi accounted for…

US midsize banks seek FDIC Insurance on ‘all deposits’ for 2 years: Report

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The Mid-size Bank Coalition of America (MBCA) has reportedly asked United States federal regulators to extend insurance on all deposits for the next two years. According to a March 18 Bloomberg report, the MBCA – a coalition of mid-size U.S. banks – sent a letter to the U.S. Federal Deposit Insurance Corporation (FDIC), asserting that extending insurance on “all deposits” would “immediately halt the exodus” of deposits from smaller banks. The MBCA also reportedly noted that this action would “stabilize” the banking industry and significantly decrease the chances of “more bank…

Blackrock CEO Warns More Bank Seizures and Shutdowns Could Result From Regulatory Changes – Economics Bitcoin News

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The CEO of Blackrock, the world’s largest asset manager, has warned about additional bank seizures and shutdowns that could result from regulatory changes in response to the failures of several major banks in the U.S. “It does seem inevitable that some banks will now need to pull back on lending to shore up their balance sheets, and we’re likely to see stricter capital standards for banks,” he added. Blackrock’s Chief on More Bank Seizures, Shutdowns Larry Fink, the chairman and CEO of Blackrock, the world’s largest asset manager, shared his…

Dragon Daisy Super League launches crypto-powered football tournament

Dragon Daisy Super League has successfully launched a cryptocurrency-powered football tournament, taking Vietnam’s love for soccer and web3 to the next level. Vietnam’s Dragon Daisy bringing crypto and sports together  While Vietnam, a Southeast Asian nation with a population of about 100 million people may not be known on the global stage as a footballing heavyweight, as its national team (Doi tuyen bong da quoc gia Viet Nam) has never qualified for the FIFA World Cup, the beautiful game remains part of Vietnam’s national identity. According to VN Express, a…