Day: September 29, 2023

Ray Dalio Says US Will Experience Debt Crisis and Possible Growth Plunge to Zero

According to Ray Dalio, the debt crisis could crash US growth, and happen happen as quickly or as delayed as supply and demand dictate. American hedge fund manager and billionaire investor Ray Dalio believes that the US is in a precarious fiscal situation. According to Dalio, a debt crisis is looming. Speaking to CNBC’s Sara Eisen, Dalio said: “We’re going to have a debt crisis in this country. How fast it transpires, I think, is going to be a function of that supply-demand issue, so I’m watching that very closely.”…

PayPal Files Patent Application for NFT Purchase and Transfer

According to PayPal, its system could use any currency. The company has already added numerous blockchain-related features to its platform, including the MetaMask Wallet, PayPal USD, and Ethereum. Online payments giant PayPal Holdings Inc (NASDAQ: PYPL) has applied for a non-fungible token (NFT) marketplace to purchase and transfer NFTs, both on- and off-chain. Filed back in March and published last week, the application describes a means of carrying out transactions with NFTs. It is still pending approval at the United States Patent Office. According to PayPal, its own NFT marketplace would…

Maker Inks 20% Price Advance, Leads Top 50 Coins Today

boss

Maker (MKR) is currently making waves in the cryptocurrency market with an impressive surge in value. Over the past month, MKR has exhibited remarkable growth, experiencing a substantial 40% increase in price. Today, the crypto flexes its muscle and leads the roster of top 50 coins. One noteworthy development amidst this rally is the strategic maneuver executed by a prominent crypto whale. This entity recently deposited 3,527 MKR tokens on the Binance exchange, capitalizing on the upward trajectory of MKR’s price.  This shrewd move has boosted the whale’s total MKR…

Russia building blockchain system for international settlements

Russian Prime Minister Mikhail Mishustin announced on Sep. 28 that the country is developing a blockchain-based system for international settlements using digital financial assets (DFA), which are tokenized versions of traditional financial instruments. Speaking at the Moscow Financial Forum, the Prime Minister said that the Russian government alongside the Bank of Russia has prepared the law framework for the system, according to a report from TASS, Russia’s state news service. “We are currently working on launching cross-border payments based on blockchain technology using digital financial assets and utilitarian digital rights.”…

Circle Intervenes in Binance’s SEC Case, Argues Stablecoins BUSD and USDC Aren’t Securities

“Payment stablecoins, on their own, do not have the essential features of an investment contract,” meaning they fall outside of SEC jurisdiction, Circle’s filing said. “Decades of case law support the view that an asset sale — decoupled from any post-sale promises or obligations by the seller — is not sufficient to establish an investment contract.” Source

Epic Games lays off 830 staff, citing ‘unrealistic’ metaverse ambitions

boss

Epic Games, the company behind Fortnite, has slashed 16% of its workforce — approximately 830 staff — after unrealistic expectations of metaverse-inspired revenue caused it to spend “way more” money than it had been earning. “We concluded that layoffs are the only way and that doing them now and on this scale will stabilize our finances,” wrote CEO Tim Sweeney in a Sept. 29 memo sent to Epic Games staff. “I had long been optimistic that we could power through this transition without layoffs, but in retrospect, I see that…

How long could Sam Bankman-Fried go to jail for?

boss

FTX founder Sam Bankman-Fried, once described as the “golden boy” of crypto, is set to stare down a jury next week for his role in the collapse of his $32 billion crypto exchange.  After a jury selection process on Oct. 3, the trial begins in earnest on Oct. 4, with Bankman-Fried staring down seven charges. If found guilty on all counts, he faces a maximum sentence of 115 years in prison. However, the judge won’t likely go easy on him, crypto lawyers tell Cointelegraph. Here’s a first look at the…

TRX Bulls Keeps Pushing, Why Rally Isn’t Over Yet

boss

Tron price is gaining pace above $0.0850 against the US Dollar. TRX is outperforming Bitcoin and could rise further toward $0.092. Tron is moving higher above the $0.0850 resistance level against the US dollar. The price is trading above $0.0862 and the 100 simple moving average (4 hours). There is a major bullish trend line forming with support near $0.0855 on the 4-hour chart of the TRX/USD pair (data source from Kraken). The pair could continue to climb higher toward $0.092 or even $0.095. Tron Price Regains Strength In the…

Everlodge plans for real estate ownership, Cardano development spikes ahead of Polkadot upgrade

Blockchain and crypto projects constantly evolve. Amid this change, Cardano has emerged as one of the top smart contract platforms. Meanwhile, ahead of Polkadot’s upgrade, Everlodge plans to reshape real estate ownership. Cardano smart contracts development surges  Cardano is a development hub and has grown since adopting smart contracts.  In the latest report, Cardano outperformed layer-2 networks with a development score increase from 454 to 559 in the last two months.  The global smart contract development activity boost is part of Cardano’s plan to regain market share.  Despite this growth,…