Day: May 17, 2023

From Lehman Brothers to First Republic Bank: Bitcoin’s rise in uncertainty

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Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. With the recent banking turmoil, ongoing recession and ‘signs of another global economic crisis,’ cryptocurrencies are – once again – emerging as an alternative way to hold one’s assets, with bitcoin being one of the most popular ones.  As financial institutions falter, customers increasingly seek alternative monetary avenues, with bitcoin frequently reaping the rewards. Last month’s upswing of the leading cryptocurrency, for instance, followed a recent banking upheaval, which…

US Dollar’s Importance Declining in International Transactions and as Reserve Currency, Economist Says – Economics Bitcoin News

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A Canadian economist and professor at the University of British Columbia says the role of the U.S. dollar in international trade and as a reserve currency has been declining. “Other currencies have been getting more important in international transactions and as reserve currencies,” he stressed. Economist Highlights Rising De-Dollarization Trend Canadian economist James Brander shared his thoughts on the worldwide de-dollarization trend and the waning influence of the U.S. dollar last week. Brander is an Asia Pacific professor in the Strategy and Business Economics Division of the University of British…

UK Treasury Committee Wants Unbacked Crypto Like Bitcoin and Ether to be Regulated Under Gambling Rules

“With no intrinsic value, huge price volatility and no discernible social good, consumer trading of cryptocurrencies like bitcoin more closely resembles gambling than a financial service, and should be regulated as such,” Harriett Baldwin, member of Parliament and chair of the Treasury Committee said in the statement. “By betting on these unbacked ‘tokens,’ consumers should be aware that all their money could be lost.” Source