Month: July 2023

Stablecoins pose lower risk than bank deposits, says ex-Fed policy analyst

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Stablecoins cannot be compared to bank deposits in terms of risk, argues a new policy paper authored by former Federal Reserve Board analyst Brendan Malone on behalf of technology investment firm Paradigm.  The document explores the risks stablecoins pose to the financial system, noting that current legislative proposals in the United States could incorporate crypto payment instruments into existing banking and securities frameworks. Malone argues that the risks posed by stablecoins are lower than bank deposits and different from money market funds. Stablecoins are cryptocurrencies programmed to have a stable value relative…

Bitcoin price erases FOMC gains as US dollar surges on Q2 GDP print

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Bitcoin (BTC) ate away at the prior day’s gains on July 27 as United States macroeconomic data produced a muted reaction. BTC/USD 1-hour chart. Source: TradingView Analyst warns of BTC price dip Data from Cointelegraph Markets Pro and TradingView showed BTC price strength waning after a brief push to $29,680 into the daily close. The largest cryptocurrency had offered a modest uptick after the Federal Reserve hiked interest rates to their highest since 2001 — a move already priced in by markets. The day’s U.S. GDP advanced print for Q2…

Web3 Wallet Suku is Taking Crypto Payments to Twitter

“If you use Twitter, Facebook, Instagram, Reddit and LinkedIn all day, you don’t want to have a payment system for each one of those – you only want to have one that connects to all of the social media platforms,” said Lapchik. “That’s exactly what we do, and when you top that off with being noncustodial and easy to use and easy to onboard, I think that’s a great formula.” Source

Fed’s No Recession Claim Boosts Bitcoin And Crypto

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Arguably the most important takeaway from yesterday’s FOMC meeting was that the U.S. Federal Reserve (Fed) is no longer forecasting a recession, which led to a cautious rally in Bitcoin and crypto markets today. Fed Chairman Jerome Powell’s statement during the FOMC press conference seems to have eased investor concerns, leading to a swift recovery in both tradfi and crypto. However, historical data suggests that caution may be warranted as the potential for recession remains a looming concern (although Powell said otherwise). Signals For A Recession Remain Strong Prominent financial…

Enhancing Profitability of Wind and Solar Through Bitcoin Mining

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In conclusion, the “Duck Curve” phenomenon presents a unique challenge in the renewable energy sector, but it also opens up an opportunity for innovative solutions. By absorbing the excess energy during periods of high renewable generation and low demand, Bitcoin mining can help balance the energy market, stabilize electricity prices, and enhance the profitability of renewable energy installations. Original

Accessing the Asset Class with Professional Help

While crypto as an asset class is still very early, there is an expanding menu of investment options that advisors can present to their clients. On the passive, low fee side, there are more and more products coming to market – many in investment wrappers that clients are well familiar with. On the active side, traditional strategies like venture, trend following, market neutral, and fundamental investing are being applied to digital asset markets. Source accessingAssetClassProfessional CryptoX Portal

Lacoste Unveils Exclusive Ethereum-Based Virtual Store For NFT Holders

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Fashion brand Lacoste has unveiled an exclusive Ethereum-based virtual store for NFT holders as the brand aims to give its NFT holders an immersive experience for the summer. The virtual store, created by retail technology developer Emperia, will integrate the traditional retail experience with digital innovations exclusive to users holding Lacoste’s UNDW3 NFT passes.  An Insight Into UNDW3 & Lacoste’s Virtual Store Lacoste’s UNDW3 NFT holders will have exclusive access to the virtual store. UNDW3 is an NFT-based loyalty program the French brand released in June (similar to that of…