Search Results for: acknowledged

French President Emmanuel Macron States Europe Must Reduce Its Dependence on the US Dollar to Avoid Becoming ‘Vassals’

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Emmanuel Macron, president of France, clarified his position on the future of Europe and its relations with China and the U.S. in the short term. Returning from his visit to Beijing, Macron believes that Europe should avoid getting caught up in…

Dollar to Play Lesser Role Due to Its Weaponization, Digital Currencies, Economist Jeffrey Sachs Says

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Within the next decade, the U.S. dollar will play a much less dominant role than it is today, according to Jeffrey Sachs. The renowned economist listed a few factors for the diminishing status of the greenback such as its use as…

Bitcoin Hashrate Reaches 400 Exahash per Second, Researcher Says Network Could Reach Zettahash Era by 2025

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Despite Bitcoin’s difficulty reaching an all-time high at 46.84 trillion, participants in bitcoin mining have kept the hashrate running stronger than ever before. According to statistics, on March 23, 2023, the hashrate reached a high of 400 exahash per second (EH/s)….

Billionaire ‘Bond King’ Jeffrey Gundlach Expects Fed to Raise Rates Next Week — ‘That Would Be the Last Increase’

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Billionaire Jeffrey Gundlach, aka the “Bond King,” expects the Federal Reserve to raise interest rates at its March meeting next week, which “would be the last increase,” he said. In addition, Gundlach cautioned: “The inflationary policy is back in play with…

Pakistan Banks to Use Blockchain Technology for KYC

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Banks in Pakistan plan to launch an electronic platform for know-your-customer procedures that will be operating on a national level. The blockchain-based system will allow them to exchange the personal information of customers through what they describe as a decentralized and…

Crypto Association in Turkey Vows to Block Exchanges That ‘Victimize Traders’

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A new organization has been established in Turkey with the aim to monitor and help develop the country’s crypto sector, local media reported. Its first task will be to address recent problems with some cryptocurrency exchanges and boost confidence in the…

Amid High Energy Demand From Miners, Russia Mulls Building New Power Plants in Siberia

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Growing electricity consumption in the crypto mining sector may require the construction of new power generation facilities in Siberia, the energy minister of Russia has acknowledged. Demand continues to increase in residential areas as well, after regional authorities abandoned a proposal…

Defi More Scalable Than Traditional Finance, New Study Says

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Despite the market conditions that prevailed in much of 2022, decentralized finance (defi) still demonstrated its greater scaling potential than that of the traditional financial industry, a new report has said. Even though the total value locked dropped from the peak…

US Lawmaker Suggests ‘Maybe’ Crypto Should Be Banned Citing Bigger Issues Than FTX

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A U.S. senator has suggested that cryptocurrency should “maybe” be banned following the collapse of crypto exchange FTX. However, he acknowledged that banning crypto “is very difficult because it will go offshore and who knows how that will work.” Senator Sherrod…