USD/BRL to inch higher gradually towards 5.38 and projections of 5.46/5.48 – SocGen
USD/BRL Sees a Bounce: Economists at Société Générale Predict a Gradual Upswing The USD/BRL has managed to stage a bounce recently; this came after the pair fell under pressure to defend the key support level at 5.01 representing lows of last August/November. Economists at Société Générale predict that the pair will gradually trend higher, but […]
Bitcoin $30K bets greet FOMC as analyst warns over long liquidations
Bitcoin (BTC) is currently being closely watched by traders and investors in the lead up to the United States Federal Reserve’s decision on interest rates. As BTC approaches $30,000, some predict that a drop to below $20,000 could be on the cards, although traders remain divided over the course of action for the digital currency. […]
Biden Administration’s Economic Report Deems Crypto Assets ‘Mostly Speculative Investment Vehicles’
On Monday, the Biden administration’s economic report was released and it focused on several topics, including cryptocurrency and decentralized finance (defi). The report states that crypto assets are “mostly speculative investment vehicles” that are not backed by anything and are traded without fundamental anchors. The report further argues that crypto assets do not deliver on […]
6.8715 vs. the last close of 6.8788
On Wednesday, the People’s Bank of China (PBOC) set the yuan at 6.8715 as compared to its last close of 6.8788. This comes amidst China’s strict control over the yuan’s rate on the mainland. It is important to note that the onshore and offshore yuan differ in trading restrictions. The offshore yuan (CNH) is not […]
Hacker Ronin Attempts To Scam $200 Million From Hacker Euler Finance
Hacker Ronin Attempts To Scam $200 Million From Euler Finance: An Analysis The world of cryptocurrency remains a hotbed of criminal activity, with hackers constantly on the lookout for ways to exploit vulnerabilities and make a quick buck. The latest incident in the ongoing saga of cryptocurrency theft involves a hacker known as Ronin attempting […]
GBP/JPY struggles to extend two-day uptrend below 162.00 as UK inflation, Brexit vote loom
GBP/JPY Exchange Rate Remains Sidelined Ahead of Multiple Data and Events The GBP/JPY exchange rate has remained largely unchanged, hovering near 161.70 as it pares the recent gains ahead of the key day comprising multiple data/events. This has put a halt to its brief two-day uptrend. The market is awash with concerns regarding the negative […]
Sending Crypto Should Be as Simple as Sending a Text
Sending Crypto Should Be as Simple as Sending a Text: The Road to Simpler Crypto Wallets The world of cryptocurrency may be constantly evolving, but one thing that remains a challenge is how complicated it can be to send crypto. Even for the technically savvy, setting up a crypto wallet and sending digital assets can […]
SpankChain Shuts SpankPay, Blames Negative Banking Scenario
SpankChain Shuts SpankPay – Blames Negative Banking Scenario for Crypto Payment Processor’s Closure SpankPay, a crypto payment processor that has been operating under the umbrella of Ethereum-based adult entertainment platform SpankChain, has stopped operating. The closure was the result of the platform’s service provider Wyre terminating its agreement to provide payment services to SpankPay. In […]
1-month T-bill rate falls below 4% after $12 billion 20-year bond auction
On Tuesday, the US Treasury Department conducted a $12 billion 20-year bond auction, which marked the first term auction to be held since the banking sector took a hit due to recent market meltdowns. The auction results were closely watched and were seen as a barometer of how the market would react to the current […]
FDA close to a decision on whether to authorize a second round of updated omicron-targeting COVID booster: WSJ
The Food and Drug Administration (FDA) is considering authorizing a second round of updated booster shots tailored specifically to target the omicron variant of COVID-19. This latest news has come as no surprise as we’ve seen a surge in cases globally due to the highly transmissible omicron strain of the virus. The proposed booster shot […]