Cryptocurrencies appear to have staying power, Federal Reserves Chairman Jerome Powell said in June. Perhaps truer words have never been spoken, as the market value of all cryptocurrencies has doubled to $1.3 trillion this year, recovering from last years crash. More impressive is the renewed interest in centralized crypto-collateralized finance after last years controversial collapse
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The Biden administration’s spending on stimulus to keep the economy going during the COVID pandemic may have contributed a little bit to inflation, Treasury Secretary Janet Yellen said in an interview on CNBC on Wednesday. Yellen said supply chain issues and shortages were the main factor driving up prices during the pandemic, but conceded that
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The team behind Mantra, the layer-1 blockchain for real-world assets, has signed a $1 billion agreement deal with DAMAC Group, an investment conglomerate, to boost accessibility to tokenized assets in the Middle East. Users can tokenize DAMAC Group assets from early 2025 using the Mantra blockchain. DAMAC Group is a multi-billion-dollar business conglomerate whose tentacles
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Federal Reserve officials at their meeting Dec. 17-18 expected to dial back the pace of interest rate cuts this year in the face of persistently elevated inflation and the threat of widespread tariffs and other potential policy changes. Minutes from the meeting, released after the typical three-week lag, also showed clear division among the Feds 19 policymakers.
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Tesla and SpaceX CEO Elon Musk has shown his support for Pierre Poilievre, Canada’s pro-Bitcoin opposition leader. This follows Canadian Prime Minister Justin Trudeau’s announcement of his resignation on January 7, in the wake of the abrupt departure of his finance minister, Chrystia Freeland. Musk shared a video of Poilievre discussing inflation and fiscal policy
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The US entities’ share of global Bitcoin reserves has reached an all-time high amidst increasing confidence in the asset class. The figure is now 65% higher than non-US entities, according to CryptoQuant CEO Ki Young Ju. This milestone is based on an analysis of Bitcoin holdings by identifiable US entities – including miners, MicroStrategy (MSTR),
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California’s shortage of affordable housing poses a serious threat to the state’s long-term economic health and well-being. You don’t need a Ph.D. to figure out that an affordable housing shortage hampers labor force growth, stifles business expansion and new business formation, erodes the tax base, and contributes to homelessness, drug abuse and street crime. To
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PayPal has been sued by an Asian American businesswoman who accused the digital payments company of racial bias for restricting part of a $535 million investment program to black and Hispanic applicants, costing her millions of dollars. Thursday’s complaint by Nisha Desai and her New York-based venture capital firm Andav Capital is part of a growing push among some conservatives to curtail diversity,
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Cybersecurity guru Amit Yoran, 54, a noted expert in the field who worked in the past for the Homeland Security Department and spoke on the subject on television, has died after a battle with cancer, his company said Saturday. Yoran, described as a visionary, who took a leave of absence last month, passed away Friday,
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WASHINGTON Even as Nippon Steel faced skepticism of its doomed $14.9 billion bid for US Steel from the Biden administration, it was also contending with headwinds from an unlikely source: the CEO of a rival bidder for the firm who repeatedly cast doubt on the deal’s prospects to investors. Lourenco Goncalves, CEO of steelmaker Cleveland-Cliffs, which
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