Euro to suffer on a temporary abandonment of the ECB’s fight against inflation – Commerzbank
In recent times, there has been a resurgence of unease in Europe that has started to impact the Euro currency. Ulrich Leuchtmann, the Head of FX and Commodity Research at Commerzbank, has pointed out that nervousness is not good for the EUR. In fact, if the anxiety levels reach a point where the European Central […]
Ethereum Price Topside Bias Vulnerable If It Continues To Struggle Below $1.8K
Ethereum has been experiencing a fresh decline in price from the $1,860 resistance level against the US Dollar. Its price is predicted to go below $1,730 if it continues to struggle under $1,800 for a long period of time. Ethereum began a downside correction below $1,800 and $1,780, and is currently trading below $1,780 and […]
Risks to financial stability have increased
IMF Chief Kristalina Georgieva recently spoke at the China Development Forum and highlighted the increased risk to global financial stability. Despite efforts by advanced economies to alleviate market stress, the outlook for the global economy remains weak, with growth expected to slow down to 2.9% in 2023 due to the ongoing impact of the pandemic, […]
EU banking authority seeks digital currency expert ahead of MiCA law implementation
The European Banking Authority (EBA) has announced that it is looking for a digital currency expert to join its team. The position will support the EBA’s supervisory functions under the Markets in Crypto Assets (MiCA) law, a new regulatory regime for the digital asset industry set to be implemented by the European Union. The successful […]
China’s Liu: Will intensify fiscal policy
China is intensifying its efforts to implement a strong fiscal policy and efficient taxation system to stabilize the economy. This was revealed by China’s Finance Minister Liu Kun who stated that the global economic situation is not optimistic, and China is facing economic challenges. To address these challenges, China will focus on supporting small and […]
Canada’s Bankrupt ‘Crypto King’ Kidnapped, Tortured, Held for $3 Million Ransom
Canada’s “Crypto King,” Aiden Pleterski, was recently kidnapped, tortured, and held for ransom for $3 million. Pleterski had been petitioned into bankruptcy last August due to allegedly running an investment scheme, and since then, $25 million Canadian worth of claims have been filed in his case. The 23-year-old had told investors that he would pool […]
ECB's de Guindos: We are open-minded with respect to the future
ertainty” due to the impact of COVID-19 pandemic on the economy. He emphasized the need for European Union (EU) banks to strengthen their balance sheets to cope with the challenges posed by the pandemic. The pandemic has caused a severe economic downturn across Europe, and banks have faced challenges in maintaining their profitability and liquidity […]
Banking Deposits Drop as Investors Climb Into Bitcoin
The United States banking system appears to be shaking as the coronavirus pandemic rages on. In mid-March 2020, just as the pandemic was starting to cause widespread panic in the United States, banks saw a significant drop in deposits. Deposits at all U.S. commercial banks fell by $98 billion between March 8 and March 15, […]
Russia plans to station tactical nuclear weapons in Belarus
Russia’s President Vladimir Putin announced on Saturday that his country plans to station tactical nuclear weapons in neighboring Belarus. Putin stated that a special storage facility for these weapons will be built and installed by the beginning of July. He also revealed that Russia has helped Belarus convert 10 aircraft to make them capable of […]
US Government Remains a Top Bitcoin Holder With Seized Stash Valued at $5.6 Billion
In early 2023, the U.S. government held over 200,000 bitcoins, valued at around $5.6 billion, according to recently released data. This sizeable stash of the world’s most widely traded cryptocurrency was the result of three forfeiture cases involving individuals who were suspected of breaking the law. The first confiscation was from the 2020 Silk Road […]