Financial Markets

ECB President Lagarde Warns of ‘Major Disaster’ If US Defaults on Debt Obligations

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There is a lot of discussion lately about the U.S. government’s debt ceiling and whether Congress will act before defaulting. In a recent interview, Christine Lagarde, the president of the European Central Bank (ECB), said she is confident the U.S. can…

Economist and Political Scientist Refute Claims of US Dollar’s Demise Despite Trend of De-Dollarization News

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This year, there has been a flurry of news reports and opinion editorials discussing an alleged de-dollarization trend amid a wave of disclosures associated with the BRICS bloc. In a recent article, the American political scientist and author Ian Bremmer insisted…

P2P Bitcoin Exchange Paxful Suspends Marketplace With Uncertainty of Return

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According to a message from Paxful Founder and CEO, Ray Youssef, the peer-to-peer bitcoin trading platform is suspending its marketplace, and the company is uncertain if it will return. Youssef cited challenges such as regulations and some key staff departures, but…

Analysts Suspect Banking Crisis Triggered ‘Resting Bull Market’ in Gold, Silver Could Print Much Higher Gains

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At the start of the week, a troy ounce of .999 fine gold was trading at $1,813 per unit. Seven days later, gold rose 9.65% against the U.S. dollar to the current spot price of $1,988 per ounce. Gold’s rise comes…

Blockchain.com Shutters Asset Management Subsidiary Amid Crypto Winter and Industry Turmoil

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According to reports and a filing that shows its name struck off the U.K. companies’ register list, Blockchain.com is sunsetting its Blockchain.com Asset Management subsidiary. A company spokesperson cited deteriorating “macroeconomic conditions” and the “crypto winter” as some of the reasons…

Report: UK Gold Dealer Sold Out of Bullion After Pound’s Record Fall Causes Demand to Skyrocket

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The United Kingdom-based gold dealer, Ash Kundra, has claimed that he recently ran out of gold coins and bars after the demand for the precious metal skyrocketed. The pound’s plunge to a record low versus the dollar, as well as the…

Report: BRICS Countries Told to Consider Countering the Dollar’s Global Hegemony

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Chinese experts have called on leaders of BRICS (Brazil, Russia, India, China and South Africa) countries to consider countering the dollar, whose global hegemony is thought to be abusive. Still, the experts concede that any attempt to diminish the dollar’s dominance…

Europe’s Securities Watchdog Seeks Feedback on Regulations Ahead of DLT Pilot

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ESMA, the European Securities and Markets Authority, has set out to establish if EU authorities need to amend existing regulations in order to facilitate the trading and settlement of tokenized securities. The regulator is now seeking opinions on the matter ahead…

South African Fintech Raises $120 Million in Funding Round Led by Fidelity

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A South Africa and London-based fintech startup, JUMO, recently revealed it has raised $120 million in a funding round led by Fidelity Management & Research Company. AI-Powered Financial Services According to a report by Techcrunch, financial services giant Visa and Kingsway…