Tag: News

ECB’s Panetta Reinforces Digital Euro Focus on Payments – News Bitcoin News

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Fabio Panetta, a member of the executive board of the European Central Bank (ECB), announced the digital euro project was entering its final phase. Before the committee on economic and monetary affairs of the European Parliament, Panetta stated that the digital euro, if approved, would be focused on making payments easier for Europeans. ECB’s Panetta Explains Digital Euro Payment Focus Fabio Panetta, a member of the executive board of the European Central Bank, announced that the digital euro project, an initiative that seeks to digitize Europe’s fiat currency, was reaching…

Argentina Debates Dollarization in the Midst of Rampant Devaluation and Inflation – Economics Bitcoin News

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Javier Milei, a presidential candidate for the next election in Argentina, has presented a dollarization plan to fix the economy of the country if elected. The proposal, which has supporters and detractors, would aim to solve the historic devaluation of the Argentine peso and the 100%+ interannual inflation that Argentina registered in March. Dollarization Surges as Option to ‘Fix’ Argentine Economy Argentine economists and the population are debating dollarization as a possible solution to the devaluation and inflation problems the country is currently facing. The proposal, presented by Javier Milei,…

Golden Gate (GGX) Developer Insights and Novel DeFi – Press release Bitcoin News

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press release PRESS RELEASE. Golden Gate (GGX) is a novel interchain infrastructure protocol that eliminates Layer 0 communication friction by delivering protocol-agnostic communications and more secure liquidity transfer. Golden Gate mediates interchain communication via the Incentivized Message Delivery Protocol (IMDP), which uses a network of couriers running light clients to deliver messages for efficient cross-chain communication. Golden Gate supports the IBC, XCMP, and LayerZero communication protocols, amongst others, making it universally composable across Web3 infrastructure. With this architecture, Golden Gate delivers a next-generation programmable layer 0, enabling developers to leverage…

Crypto Has Evolved From Being Seen as an ‘Anti-Establishment Rebellion Asset’ Says FCA Executive Director – Regulation Bitcoin News

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From being seen as a small “anti-establishment rebellion asset” more than ten years ago, crypto has grown to “become more widespread,” says Sarah Pritchard, an executive director at the United Kingdom’s Financial Conduct Authority (FCA). Pritchard said while the FCA has routinely warned consumers of risks associated with crypto, the watchdog has “always been open to innovation.” Few Customers Know About Crypto According to Sarah Pritchard, an executive director of markets at the Financial Conduct Authority, crypto has evolved from being seen as “an anti-establishment rebellion asset” more than ten…

How Bitcoin’s Use of Mathematical Tools Ensures System Consistency – Featured Bitcoin News

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Over 14 years ago, Satoshi Nakamoto unveiled the Bitcoin network to the world, creating the very first triple-entry bookkeeping system known to mankind. This technological wonder, with a current market value of $540 billion, ingeniously integrates encryption and mathematical formulas to fortify its security. In this exploration, we delve into two of the mathematical choices that underpin Bitcoin’s complex architecture, determining block rewards, transaction inputs and outputs, and mining difficulty adjustments, while also regulating the pace at which new blocks are discovered. Whole Numbers at Work: A Look at Bitcoin’s…

Reserve Currency Status Should No Longer Be Taken for Granted – Economics Bitcoin News

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European Central Bank (ECB) President Christine Lagarde has warned that the U.S. dollar’s reserve currency status “should no longer be taken for granted.” Acknowledging de-dollarization efforts by various countries, she stressed: “New trade patterns may have ramifications for payments and international currency reserves.” ECB’s Christine Lagarde on De-Dollarization and Alternative Currencies The president of the European Central Bank (ECB), Christine Lagarde, shared her thoughts on the de-dollarization trend happening across the globe in an interview with the Council on Foreign Relations last week. Noting that the U.S. dollar has become…

Hillary Clinton Warns of ‘Worldwide Financial Meltdown’ and Dollar Losing Reserve Currency Status if US Defaults on Its Debt – Economics Bitcoin News

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Former U.S. Secretary of State Hillary Clinton has warned that the U.S. defaulting on its debt obligations could lead to a global financial meltdown. “If Congress keeps flirting with default, calls for dethroning the dollar as the world’s reserve currency will grow much louder,” she stressed. Hillary Clinton on U.S. Debt Default and Dollar Losing World’s Reserve Currency Status Hillary Clinton, a former first lady and the U.S. Secretary of State from 2009 to 2013, warned in an opinion piece, published by the New York Times Monday, about the disastrous…

Economist Peter Schiff Warns US Will Default on Its Debt — Raising Debt Ceiling Will Make Problem Worse – Economics Bitcoin News

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Economist Peter Schiff has warned that the U.S. will default on its debt obligations. He further stressed: “All the bad stuff that they’re saying is going to happen if we don’t raise the debt ceiling is guaranteed to happen because we do raise the debt ceiling.” Peter Schiff on U.S. Debt Default Economist and gold bug Peter Schiff warned Monday on the Peter Schiff Show podcast that the United States will default on its debt obligations and that raising the debt ceiling will have devastating consequences. Commenting on politicians claiming…

Economist Warns of ‘Catastrophic’ Fall in American Living Standard — Elon Musk Weighs in on De-Dollarization, US Dollar Weaponization – Economics Bitcoin News

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Economist Peter St Onge has warned that U.S. dollar weaponization will lead to “soaring inflation, a catastrophic fallen American standard of living, and a U.S. that falls off the world stage.” Commenting on the economist’s warnings, Tesla and Twitter CEO Elon Musk weighed in on de-dollarization. De-Dollarization Happening Faster Than People Realize, Says Economist Economist Peter St Onge warned about the dire consequences of weaponizing the U.S. dollar in a video he posted on Twitter Monday. St Onge is a Research Fellow and the Mark A. Kolokotrones Fellow in Economic…

Voyager Purchase Deal Falls Through – Bitcoin News

According to the now-defunct crypto lender Voyager, Binance US sent a letter to the company “terminating the asset purchase agreement.” While the announcement was “disappointing” for Voyager, the firm maintained that its customers would still be receiving their cash and crypto through a “direct distribution” via the Voyager platform. Voyager’s Asset Purchase Agreement With Binance US Scrapped Towards the end of 2022, Binance disclosed that its US subsidiary had entered into a billion-dollar agreement with Voyager Digital Ltd. to acquire its assets. Despite objections from the US Securities and Exchange…