Christine Lagarde: ‘The European Central Bank Cannot Go Bankrupt or Run Out of Money’

In remarks that highlight flaws of the fiat currency system, the European Central Bank (ECB) president, Christine Lagarde, says the institution cannot go bankrupt even if it incurs losses running into trillions. According to Lagarde, normal bankruptcy rules do not apply to the ECB primarily because it is the sole issuer of euro-denominated central bank[…]

Hyperinflation and Rent Controls – 2020’s Telltale Signs of Economic Distress Haunts Many Nations

If history serves us well, 2020 is likely a precursor to a long and dreadful economic depression throughout a myriad of countries worldwide. During the last year, economists and analysts have been discussing how specifically the United States economy and the U.S. dollar are losing global dominance quite rapidly. While a few analysts believe the[…]

Crypto Retirement: US Investment Firm Launches Employer-Sponsored Bitcoin 401(k) Plan

The U.S.-based company Digital Asset Investment Management (Daim) has announced the launch of a company-sponsored 401(k) retirement plan that allocates up to 10% in bitcoin. The plan is an ERISA compliant employer-sponsored 401(k) and assets are held in institutional-grade cold storage by leveraging the custodian Gemini Trust. During the last few years, investors have been[…]

Exploits and Flash Loans Are Just the Beginning, Defi Economy Is Less Private Than People Think

Decentralized finance otherwise known as defi has climbed significantly in value this year, as the total value locked (TVL) in defi today is over $14 billion. Meanwhile, numerous defi platforms are getting attacked with flash loans and there are so many new defi projects, it’s hard to keep track of them all. Moreover, while many[…]

Jeff Bezos-Backed African App Chipper Cash Launching Crypto Trading After Raising $30 Million

An African company backed by Amazon CEO Jeff Bezos, Chipper Cash, has raised $30 million and is launching a cryptocurrency trading service due to high demand for cryptocurrencies, including bitcoin. Users of Chipper Cash will be able to buy and sell cryptocurrencies as well as U.S. stocks, such as Tesla, Apple, and Amazon, through the[…]

Blackrock CIO: Cryptocurrency Is Here to Stay, Bitcoin Could Replace Gold

Blackrock’s Chief Investment Officer, Rick Rieder, said cryptocurrency, including bitcoin, “is here to stay.” In addition, he said bitcoin is a durable mechanism that could replace gold. Blackrock on Bitcoin and Gold Rick Rieder, Blackrock’s Chief Investment Officer (CIO) of Global Fixed Income, talked about bitcoin replacing gold in an interview with CNBC’s Squawk Box[…]

South Africa Unveils New Crypto Rules as Usage Soars Exponentially

The South African financial regulator has published a draft declaration of crypto assets as financial products. The regulator says South Africa has experienced “an exponential increase in the provision and use of crypto assets.” South Africa’s Crypto Regulation South Africa’s Financial Sector Conduct Authority (FSCA) announced Friday that it has published “a draft declaration of[…]

Bitcoin Derivatives See Record Highs, Year-End BTC Options Show 29% Chance Price Crosses $20K

As the crypto economy sets its sights on half of a trillion in USD value, digital currency derivatives markets are swelling significantly. Bitcoin futures have surpassed a six-month high at $52 billion, while the crypto asset’s options markets have jumped massively too. Additionally, bitcoin options markets indicate that traders wager there’s a 29% chance the[…]

Airbnb IPO Prospectus Says Future Success Means Adapting to Cryptocurrencies

The giant online rental marketplace based in San Francisco, Airbnb is considering supporting cryptocurrencies and blockchain technology. The news stems from the company’s initial public offering (IPO) prospectus with the U.S. Securities and Exchange Commission (SEC). Airbnb’s filing notes that future success will be dependent on adapting to new technologies such as tokenization and cryptocurrencies.[…]