Tag: News

Iran Sets Up Platform to Facilitate Crypto Payments for Imports – Bitcoin News

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Authorities in Iran are taking steps to make crypto payments easier for companies importing goods in the sanctioned country. A dedicated platform has been established to allow local businesses to transfer cryptocurrency for the purpose of cross-border settlements. Iran to Use Cryptocurrencies for Imports, Trade Organization Chief Vows Iranian companies will be able pay for imports with cryptocurrencies, the country’s Trade Promotion Organization (TPO) has assured, according to local media. Alireza Peymanpak, head of the government body, said that the Central Bank of Iran (CBI) has issued a permission for…

Russian Banks Set for Record Profits This Year, Central Bank, Rating Agency Say – Finance Bitcoin News

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Bank of Russia raised its forecast for the profits of Russian banks in 2023, expecting results that may break the 2021 record. This year’s high numbers are coming after 2022 became the worst annual period in seven years for the sanctioned Russian banking sector in terms of financial outcome. Banks in Russian Federation Headed for at Least $23 Billion in Profits in 2023 Data from the first months of 2023 give the Central Bank of Russia (CBR) reason to believe that by the end of the year Russian banks can…

Breaking the Barriers of Traditional Banking With Digital Assets – Op-Ed Bitcoin News

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Another one bites the dust! The banking industry in the United States is in trouble, and regional banks are feeling the squeeze. A number of banks have failed recently due to mismanagement, poor risk management, and other factors which are leading to bailouts and buyouts from large players. They’re consolidating with larger banks faster than a college student cramming for exams. This trend not only affects the banking industry but also the wider economy, as access to credit is a crucial element for businesses and individuals to thrive. The following…

BTC to Surge by $20,000 if the US Defaults on Debt Obligations – Featured Bitcoin News

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Geoff Kendrick, the head of forex research at the banking institution Standard Chartered, recently said that the price of bitcoin is likely to jump by $20,000 in the event of the United States defaulting on its obligations. According to Kendrick, while bitcoin is likely to surge when the U.S. defaults, other cryptocurrencies like ethereum are likely to go down. U.S. Debt Default a ‘Low-Probability’ and ‘High-Impact Event’ As fears mount that the United States government may default on its debt obligations, Geoff Kendrick, a forex research head at Standard Chartered,…

Analysts Warn of More Bank Failures, Possible Recession and Global Repercussions Caused by First Republic Bank Collapse – Finance Bitcoin News

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The recent takeover of First Republic Bank, the fourth U.S. bank to fail this year, has awakened concerns about the possible repercussions this new failure might have on U.S. and international economies. While United States President Joe Biden has assured the public that the banking system remains safe, analysts are warning that this might not be the last bank failure in this period of turmoil. First Republic Bank Collapse Shows the Weaknesses of the US Banking System, Say Analysts The recent collapse of First Republic Bank, the second-biggest bank failure…

Russia Monitoring US Economy Amid Possible Default, Says Official – Economics Bitcoin News

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Russia is closely monitoring the U.S. economy amid discussions of the U.S. government defaulting on its debt obligations. Treasury Secretary Janet Yellen said the Treasury will be unable to pay the government’s bills if Congress does not act by June 1. Russia Monitoring US Economy in Case of Debt Default Russia is closely monitoring the state of the U.S. economy as discussions of possible debt default intensify, Kremlin Spokesman Dmitry Peskov told reporters on Tuesday. “We see that the U.S. economy, just as the global economy, is currently experiencing certain…

Ron DeSantis Vows to Prohibit CBDC, ‘Woke Politics,’ and ‘Financial Surveillance’ in Florida – Bitcoin News

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Florida governor Ron DeSantis reiterated his call for a ban on central bank digital currencies (CBDCs) during a visit to Jacksonville on Tuesday. Last March, DeSantis pushed for legislation to prohibit a CBDC in Florida. At Tuesday’s event called “Government of Laws, Not Woke Politics,” he stated that if the U.S. Federal Reserve or Treasury were to codify a CBDC, his state would have a “prohibition against” it. DeSantis Slams ‘Woke Politics,’ Insisting ‘They Don’t Like Crypto Because They Can’t Control Crypto’ On May 2, 2023, the Republican Florida governor…

Economist Peter Schiff Warns of Stagflation in US Economy — Says ‘It’s Going to Get Worse’ – Economics Bitcoin News

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Economist Peter Schiff has warned that the U.S. economy is facing stagflation and the situation is going to get worse. “Not only is the economy weakening, but inflation is strengthening,” he stressed, emphasizing: “You have the worst of both worlds.” U.S. Economy and Stagflation Economist and gold bug Peter Schiff warned about the U.S. economy facing a period of stagflation, characterized by high inflation and high unemployment, in an interview with Fox News Thursday. Schiff explained: In Q1 of this year, inflation actually strengthened over the fourth quarter of last…

Coinbase Launches International Exchange for Bitcoin and Ether Perpetual Futures – Bitcoin News

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Coinbase, the San Francisco-based cryptocurrency exchange, recently announced the launch of a new service called Coinbase International Exchange. The new platform will enable institutional users outside of the United States to trade bitcoin and ethereum perpetual futures. The company stated in a tweet that the service will begin by offering perpetual futures settled in USDC with up to 5x leverage to institutional clients in eligible jurisdictions. Coinbase Reveals Bitcoin and Ethereum Perpetual Futures Settled in USDC With up to 5x Leverage The launch of Coinbase International Exchange follows the company’s…

An AI-Powered Companion for Crypto Enthusiasts – Bitcoin News

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This year, the world has witnessed a surge in the popularity of artificial intelligence (AI) software, with a plethora of cutting-edge platforms such as Openai’s Chatgpt 3.5, Chatgpt 4.0, DALL-E, Stable Diffusion, and other innovative tools like Midjourney and Google’s Bard taking the internet by storm. Amidst this technological revolution, Crypto.com’s CEO Kris Marszalek recently hosted an ask-me-anything (AMA) discussion, where he unveiled the exchange’s latest offering — an AI-powered user companion named Amy. Crypto Education Goes High-Tech With Amy, Crypto.com’s Latest AI Offering Crypto.com’s new chatbot, Amy, has been…