Day: April 29, 2023

Economist Predicts Shift to Tripolar Reserve Currency World — Yuan, Euro to Disrupt US Dollar’s Dominance – Economics Bitcoin News

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Economist Stephen Jen, a former Morgan Stanley managing director, expects a shift “from a unipolar reserve currency world to a multipolar world,” with the Chinese yuan, the euro, and the U.S. dollar forming a “tripolar” reserve currency configuration. ‘A Multipolar World’ Economist Stephen Jen, the CEO of asset management firm Eurizon SLJ, expects multiple currencies will chip away at the U.S. dollar’s dominance. Jen was formerly a managing director at Morgan Stanley in London and a senior economist at the International Monetary Fund (IMF). After stating that the U.S. dollar…

Cardano reveals development update ahead of Voltaire age

In preparation for the arrival of the Voltaire age, the blockchain known as Cardano (ADA) has announced some recent ecosystem improvements. Notable among the company’s accomplishments is the progress it has made in the age of the Conway ledger and the creation of CIP-1694. The last stage of cardano’s evolution is called the Voltaire period, and its primary objective is to create an entirely decentralized decision-making system. CIP-1694 is the first iteration of cardano’s on-chain governance, and the success of this initiative will primarily be determined by the degree to…

Japan’s Inflation Surges to 3.5% as New BOJ Governor Takes the Helm – Economics Bitcoin News

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This week, the Statistics Bureau of Japan unveiled the latest core consumer price index (CPI) report for the country, revealing a surge to 3.5%. This figure comes as a surprise to analysts who had predicted a more modest 2.9% for the end of the quarter. It’s worth noting that Japan’s inflation has been steadily rising since June 2021. The timing of this uptick is also notable, as Kazuo Ueda has recently assumed the role of the 32nd governor of the Bank of Japan. New BOJ Governor Faces Rising Inflation, Central…

Coinbase launches NFT campaign, seeks implementation of pro-crypto policies

Coinbase, a San Francisco-based cryptocurrency exchange, has launched a non-fungible token (NFT) campaign dubbed “Stand With Crypto” to empower the community and promote implementation of favorable policies. The launch comes after Coinbase sued the United States Securities and Exchange Commission (SEC) earlier this week requesting clarity about the agency’s position on crypto legislation. Coinbase blue shield NFT The campaign, launched on April 25, features a blue shield on Coinbase’s commemorative NFT. It represents the group’s effort to safeguard and advance the potential of cryptocurrency.  Coinbase urged campaign participants to add…

William Shatner unveils NFT collection, says crypto to explode

During Consensus 2023, held on April 27, the famed actor William Shatner, known as Captain Kirk in the Star Trek franchise, unveiled an NFT line, which would follow his popular collection from three years earlier as he gave his prediction on crypto. The 92-year-old actor discussed the reasons for his enthusiasm for web3 in the entertainment industry and his thoughts on the state of cryptography when humankind reaches the Star Trek period.  Shatner’s blockchain journey According to Shatner, his first time working with NFTs occurred in 2020, when 125,000 William…

Reports by Fed and FDIC Reveal Vulnerabilities Behind 2 Major US Bank Failures – Bitcoin News

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On Friday, Michael Barr, the vice chair for supervision at the U.S. Federal Reserve, published a report on the vulnerabilities that led to the ultimate failure of Silicon Valley Bank (SVB). In addition, Marshall Gentry, the chief risk officer of the Federal Deposit Insurance Corporation (FDIC), released a similar report on Signature Bank’s collapse and its overreliance on uninsured deposits. Fed Is Confident Supervisory Recommendations ‘Will Lead to a Stronger and More Resilient Banking System’ The Federal Reserve and the FDIC published reports on Friday concerning the fall of the…

Bitcoin game developer processes more Lightning Network payments for users outside US

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied THNDR Games, a Bitcoin game developer, made 13.92% of its April payments to addresses in the United States using the Lightning Network (LN). Meanwhile, more than 50% went to nine other countries where LN use has largely flown under the radar. According to data shared by Bitcoin enthusiast Kevin Rooke, only 13% of THNDR Games’ Lightning Network payments in April went to users in the United States. This potentially signify the network’s growing footprint in the…

No Rate Hikes in Russia, Central Bank Keeps Interest Rate Level Again – Finance Bitcoin News

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Bank of Russia decided to maintain the interest rate at 7.5% amid moderate inflation, estimated at 2.5% on an annual basis in April, although this may change later this year. The monetary authority improved its forecast for the Russian economy and now expects growth entirely in positive figures, up to 2.0% for 2023. Bank of Russia Leaves Interest Rate Unchanged for Fifth Consecutive Time At a meeting of its Board of Directors on Friday, the Central Bank of Russia (CBR) kept its key interest rate at the current level of…

PancakeSwap passes proposal that makes CAKE “ultrasound”

PancakeSwap, a leading decentralized exchange (DEX) on the BNB Smart Chain (BSC), has passed the CAKE Tokenomics v2.5 Decision Proposal that makes their native token scarcer.  The proposal aimed to transform the tokenomics model of CAKE, the DEX’s utility token. The primary focus being on low staking inflation where real yield is from the protocol’s revenues. It also looked at adjusting its product to favor longer-term CAKE stakers. Decision Proposal for CAKE Tokenomics v2.5 has passed, which will adjust CAKE Syrup Pool emissions from 6.65 CAKE/block to 3 CAKE/block immediately…

Mastercard to expand crypto payment card program

Raj Dhamodharan, Mastercard’s head of crypto and blockchain, stated that the payment company intends to grow its cryptocurrency payment card program by looking for further collaborations with crypto businesses.  The move is being taken despite the recent scrutiny by regulators on banks and the cryptocurrency industry. Mastercard to explore new crypto partnerships Dhamodharan has cited the desire to give people access to cryptocurrency in a secure manner as the motivation behind Mastercard’s expansion plans. JUST IN: Mastercard to expand crypto card program by seeking more partnerships with crypto exchanges. —…