Tag: finance

Warren Buffett Sees ‘No Option’ Other Than US Dollar as Reserve Currency, but Warns Fed Can’t ‘Just Print Money Indefinitely’ – Finance Bitcoin News

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Warren Buffett, CEO of Berkshire Hathaway and one of the most renowned investors in the market, stated that he saw no viable option to become the world’s reserve currency besides the U.S. dollar. However, he warned about the dangers that printing too much money could bring to the strength of the currency in the future. Warren Buffett’s Only Valid Option for Reserve Currency Is the U.S. Dollar Warren Buffett, CEO of Berkshire Hathaway, also known as the ‘Oracle of Omaha’ due to his city of origin, gave his opinion about…

Defi Market Holds Steady at $49.31 Billion TVL, Lido Finance Leads the Pack With 24.82% Share – Defi Bitcoin News

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Since April 18, 2023, the total value locked (TVL) in decentralized finance (defi) has been fluctuating just below the $50 billion threshold. As of today, the TVL amounts to $49.31 billion, registering a 1% increase within the last 24 hours. TVL in Defi Shows Signs of Improvement, Yet to Surpass Previous Record of $53 Billion Currently, the combined TVL across all defi platforms stands at $49.31 billion as of May 6, 2023, with Lido Finance leading the pack by commanding a 24.82% share of $12.24 billion on Saturday. Over the…

DEUS Finance hacked, over $6M DEI stablecoin stolen

Over $6m worth of DEI, a stablecoin of the DEUS decentralized finance (DeFi) protocol, DEI, was stolen in a hack, the latest details on May 6 show. The exploit led to a loss of more than $5m on Arbitrum, an Ethereum layer-2 solution, and $1.3m in BNB Smart Chain (BSC). DEI losses over $6M in a hack A report from PeckShield, a blockchain security company, shows that DEUS Finance lost over $6m in a hack targeting two networks, BNB Chain and Arbitrum. While confirming the hack, DEUS said they had…

DEUS Finance loses $6M following stablecoin hack

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Decentralized Finance (DeFi) protocol DEUS has lost over $6 million due to a security breach on its stablecoin DEI. The hacker exploited a vulnerability in the BNB Smart Chain (BSC) on May 5, according to blockchain security firm PeckShield.  A bot initiated the hack on the BSC, which led to a loss of more than $1.3 million. The attacker also targeted the Arbitrum network, with ARB/ETH deployments losing over $5 million. Twitter users claimed the token contract had a basic implementation error as the root cause. Hi @DeusDao: it appears…

Push to Use National Currencies in SCO Cannot Be Stopped, Russia’s Lavrov Says – Finance Bitcoin News

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Efforts to transition to trade in national currencies in the Shanghai Cooperation Organization (SCO) can no longer be stopped, according to Russian Foreign Minister Sergey Lavrov. During a meeting with his colleagues in India, Moscow’s top diplomat also discussed the similar initiative within BRICS. Sergey Lavrov Convinced SCO Countries Will Switch to National Currencies, Won’t Rule Out Single Fiat There is understanding about increasing the use of national currencies in settlements between the member states of the SCO, Russian Minister of Foreign Affairs Sergey Lavrov said after conferring with counterparts…

How ChatGPT can help with personal finance management

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Managing personal finances can be a challenge for many people. With so many financial products, services and investment options available, knowing where to start or how to make informed decisions can be difficult. Fortunately, ChatGPT can help. As an artificial intelligence (AI)-powered chatbot, ChatGPT can offer personalized advice on various financial topics, including budgeting, investing, debt management and retirement planning. By analyzing your financial situation and goals, ChatGPT can provide customized recommendations and insights to help you make informed decisions about your money. 4/ Budgeting & Financial Planning: Struggling with…

Liquid staking solutions now have more TVL than DEXs: Finance Redefined

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Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week. April saw several hacks, exploits and rug pulls that resulted in a net loss of over $100 million among several DeFi protocols. Amid the growing memecoin frenzy, the chances of exploits have increased multifold, with WallStreetBets — a popular trading sub-Reddit group — allegedly rugging its users for $635,000 just days after airdropping about $15,000. DeFi protocol Level Finance was a victim…

ECB Raises Interest Rates by 25bps Amid ‘Too High’ Inflation, ‘No Pause,’ Lagarde Says – Finance Bitcoin News

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The European Central Bank (ECB) raised its key interest rates by 25 basis points, slowing the pace from previous increases. However, as inflation in the euro area remains persistently high, future rate hikes may still be expected with the regulator insisting it will continue to seek a “timely return” to its 2% inflation target and ECB president Christine Lagarde stating that rates are not “sufficiently restrictive” yet. ECB Eases Pace of Hiking Interest Rates in the Eurozone The Governing Council of the European Central Bank (ECB) decided to raise three…

ETH Liquid Staking Protocol Lido Finance Deposits Surpass 6M Ether After Shanghai Upgrade

Lido has not yet activated withdrawals, pending the release of its version (v)2 protocol upgrade expected later in May. Given the nature of liquid staking, users who want to withdraw from the platform can just sell their stETH derivative token on exchanges. As the token’s price tracks closely to ETH’s, Lido likely isn’t facing significant withdrawal pressure, Kunal Goel, an analyst at crypto research firm Messari, wrote in a report Wednesday. Source

How does quantum computing impact the finance industry?

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The finance industry is optimistic about quantum computing. Tasks such as portfolio optimization, risk management and asset pricing have a great chance to be beneficiaries. Grover’s and Shor’s algorithms can be applied to portfolio optimization. Portfolio optimization involves finding the optimal combination of investments to maximize returns while minimizing risk. Besides providing faster and more accurate calculations the technology can enable more flexible optimization strategies that take into account a wider range of factors, such as environmental, social and governance factors. Another example could be asset pricing. Asset pricing is…