Month: April 2023

Market Analyst Heralds the Collapse of ‘Everything,’ Calls for Hedging in Gold and Silver Before There Isn’t Any Left – Economics Bitcoin News

boss

Egon von Greyerz, market analyst and founder of Matterhorn Asset Management, is predicting the collapse of the central bank system in the next few years due to an increasing issuance of currency and debt. Von Greyerz states that in the face of an economy with no buyers, the only hedge will be tangible assets, including gold and silver. The Collapse of ‘Everything’ Egon von Greyerz, the founder of Matterhorn Asset Management, has recently expressed his worries about the situation of the central banking system in an article titled “The Everything…

Cash App creator dies following stabbing in San Francisco

boss

Bob Lee, the former chief technology officer of Square and creator of Cash App has died following a stabbing in San Fransisco in the early hours of Tuesday, April 4 local time. Bill Barhydt, the CEO of crypto wallet company Abra, tweeted on April 5 that Bob Lee “was killed in SF early today” sharing an April 4 report from local media outlet SFGATE which reported on Lee’s death but did not name him. I just got devastating news that our friend Bob Lee (@crazybob ) was killed in SF…

ETH hits 7-month high ahead of Shanghai and Capella upgrades

boss

Ether (ETH) has breached $1,900 for the first time in over seven months, a week before staking withdrawals are enabled in the next major update for the second-largest cryptocurrency by market capitalization. CoinMarketCap data shows the last time Ether was over $1,900 was on Aug. 16, 2022, amid a broader crypto sell-off at a time when the United States Federal Reserve was hiking the Federal Funds rate at a record pace to combat inflation. The Ethereum Shanghai hard fork, set to occur on April 12, will implement EIP-4895 — allowing…

Malaysia enlists China to help end USD dependence for trade

boss

China and Malaysia are considering moving forward on discussions regarding an Asian Monetary Fund as distancing from U.S. dollar hegemony becomes a greater priority in the region. On April 4, Malaysian Prime Minister Anwar Ibrahim reportedly said China was open to a proposal to set up an Asian Monetary Fund. The concept of the Asian-focused fund was floated at a forum on the Chinese island province of Hainan last week according to Bloomberg. According to Ibrahim, China’s President Xi Jinping welcomed discussions on a proposed agency to help the two…

ECB Member Fabio Panetta Claims Rising Profit Margins Could Be Fueling Inflation – Economics Bitcoin News

boss

Fabio Panetta, a member of the executive board of the European Central Bank (ECB), has stated that companies increasing their profit margins could be helping to fuel inflation. In an interview with the New York Times, Panetta warned about the effect that companies increasing such margins could have on inflation levels in the long term. ECB’s Panetta Links Profit Margins With Inflation Fabio Panetta, a member of the executive board of the European Central Bank (ECB) and former deputy governor of the Bank of Italy, has brought attention to the…

As Bitcoin Platform Paxful Closes, Co-Founder Youssef Talks Up Alternatives

boss

“We spent millions on compliance, but even that still wasn’t enough,” Youssef told CoinDesk in an interview. “And then to make things worse, in the middle of January,” he went on, “my co-founder decided to sue the company and myself. The litigation got really nasty and he scared away our best people. My entire chief level staff resigned. I had no operational staff.” Original

Multiple US state regulators allege AI trading dApp is a Ponzi scheme

boss

Securities regulators from Montana, Texas, and Alabama have jointly filed enforcement actions against cryptocurrency trading platform YieldTrust.ai alleging it is “perpetrating a Ponzi scheme.” According to April 4 statements from the Montanian, Texan and Alabamian regulators, YieldTrust.ai and its Romanian owner, Stefan Ciopraga, claimed the decentralized application (dApp) called “YieldBot” is “powered by cutting-edge artificial intelligence” and is “capable of executing 70 times more trades with 25 times higher profits than any human trader could.” The regulators alleged YieldTrust didn’t provide “any proof” to investors that the artificial intelligence (AI)-powered…

US Justice Department Seizes Cryptocurrency Worth $112 Million in ‘Pig Butchering’ Crackdown – Regulation Bitcoin News

boss

The U.S. Department of Justice (DOJ) says it has seized cryptocurrency worth over $112 million linked to fraudulent investment schemes known as “pig butchering.” According to court documents, the seized crypto accounts were allegedly “used to launder proceeds of various cryptocurrency confidence scams,” the Justice Department said. $112 Million in Crypto Seized by DOJ The U.S. Department of Justice (DOJ) announced Monday that it has seized cryptocurrency worth more than $112 million “linked to cryptocurrency investment scams.” Noting that the Federal Bureau of Investigation (FBI) Phoenix Division is investigating this…