McKinsey: The Metaverse Could Generate $5 Trillion by 2030 — ‘Simply Too Big to Be Ignored’

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Global consulting firm McKinsey & Company has forecasted that the metaverse may generate up to $5 trillion by 2030. In addition, more than 80% of commerce could be impacted by activities in the metaverse. Metaverse Could Generate $5 Trillion by 2030…

Salvadoran President to Bitcoin Investors: Your BTC Investment Is Safe, Will Immensely Grow After Bear Market

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The president of El Salvador has some advice for bitcoin investors. He believes investments in the largest cryptocurrency are safe and will “immensely grow” after the bear market. El Salvador’s President on Bitcoin Investments The president of El Salvador, Nayib Bukele,…

Class-Action Lawsuit Accuses Terraform Labs of Misleading Investors

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Following the Terra stablecoin depegging incident, a class-action lawsuit has been filed against the company Terraform Labs and a number of other crypto companies over the collapse of terrausd (UST). The case against Terraform Labs (TFL) was filed by the plaintiff…

Bank of Jamaica Governor: Cryptocurrency ‘Not Sufficiently Stable to Be a Good Means of Payment’

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The governor of the Jamaican central bank has warned people using or who have plans to use cryptocurrencies to be mindful of the associated risks. The governor added that cryptocurrencies’ unpredictability means they cannot function as a medium of exchange. Not…

Blackrock’s CIO: Bitcoin and Crypto Are Durable Assets — Prices Will Move Higher

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The chief investment officer of global fixed income at Blackrock, the world’s largest asset manager, says bitcoin and crypto are durable assets. “I think there’s a healthy recalibration going on,” he said, noting that “if you look two to three years…

Uganda Claims Exploration Surveys Discovered 31 Million Metric Tons of Gold

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While gold is often considered a scarce asset, Uganda explained on Wednesday that recently conducted exploration surveys indicate that there’s roughly 31 million metric tons of gold ore waiting to be mined in the region. Moreover, a spokesperson from Uganda’s Ministry…

Belgian Banking Group KBC Creates Blockchain-Based Coin

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KBC Group, a major European banking and insurance institution headquartered in Belgium, has launched a token based on a blockchain platform. Its customers will be able to acquire the new proprietary coins and use them through their KBC wallet and mobile…

SEC, State Regulators Probe Crypto Lender Celsius Over Accounts Freeze

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The U.S. Securities and Exchange Commission (SEC) and several state regulators are reportedly investigating the decision by crypto lender Celsius Network to freeze withdrawals. U.S. Securities Regulators Investigate Celsius’ Withdrawal Freeze The U.S. SEC and securities regulators in Alabama, Kentucky, New…

Colombian Financial Superintendence Prepares Norms for Crypto Transactions

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The Colombian Financial Superintendence, the securities and financial watchdog of the country, is working on a document to regulate the transactions and operations made using cryptocurrency assets in the country. The organization announced that it will present the document in the…