Finance

While Stocks Rebound, Analysts Discuss Bitcoin’s Decoupling, Gold Markets Remain ‘Under Pressure’

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U.S. equities markets jumped on Thursday as stock traders saw some relief after a number of weekly losses. All the major stock indexes rebounded after falling for nearly eight weeks in a row, while the crypto economy took some losses on…

American Financial Infidelity Report: 2 out of 5 Survey Respondents Hid Their Crypto Purchases

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A recent survey study has found that two out of five Americans in committed relationships have admitted to hiding a cryptocurrency purchase from their partner. The crypto-cheating partners believe disclosing the purchase would damage their relationship. Reasons for Not Disclosing Purchases…

Warren Buffett-Backed Nubank Launches Crypto Trading — Holds Bitcoin on Balance Sheet

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Warren Buffett-backed Nubank, one of the world’s largest digital banking platforms, has launched cryptocurrency trading. Starting with bitcoin and ether, the bank explained that its 54 million customers can “buy, hold and sell cryptocurrency all from the same app, with no…

While Global Markets Get Spooked by Covid and a Hawkish Fed, Stocks and Crypto Rebound After Musk Buys Twitter

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Wall Street suffered Monday morning as the major U.S. stock indexes dropped further, building on losses gathered last week. Reports indicate that investors are concerned about the upcoming Federal Reserve rate hikes and China’s recent Covid-19 outbreak. As equities floundered on…

Bank of Russia to Pilot Digital Ruble Settlements in 2023

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Russia’s monetary authority intends to conduct the first settlements with the digital ruble next year, its governor announced this week. Speaking to Russian lawmakers, the official highlighted the important role the new currency is going to play for Russia under sanctions….

Digital Ruble ‘Much Needed,’ Russia’s Central Bank Says, Won’t Delay Testing

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The Central Bank of Russia has emphasized the importance of moving forward with its digital ruble project. According to a statement by a top representative, the monetary authority has no intention to delay the trials despite not all invited banks being…

Fidelity Investments Launches Crypto, Metaverse ETFs — Says ‘We Continue to See Demand’

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Fidelity Investments, one of the largest financial services firms with more than $11 trillion under administration, is launching exchange-traded funds (ETFs) focusing on the crypto ecosystem and the metaverse. “We continue to see demand, particularly from young investors, for access to…

IMF Warns Russia Sanctions Threaten to Undermine US Dollar Dominance

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Financial sanctions imposed on Russia over its invasion of Ukraine may result in reduced dominance of the U.S. currency, according to a high-ranking official at the International Monetary Fund (IMF). The confrontation could lead to fragmentation of the world’s current monetary…

Layerzero Labs Secures $135 Million to Bolster Cross-Chain Interoperability

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Layerzero Labs, the firm behind the interoperability protocol Layerzero, has revealed the company has raised $135 million in a Series A+ finance round led by Andreessen Horowitz (a16z), FTX Ventures, and Sequoia Capital. The new financing brings Layerzero Labs’ overall valuation…

Luno Launches Venture Fund to Invest in Over 200 Crypto and Fintech Startups per Year

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Luno cryptocurrency exchange recently announced the launch of an investment arm, Luno Expeditions, whose objective is to invest in fintech, crypto, and Web3 startups globally. The investment arm will target digital assets and later-stage companies starting from Series A upwards. Funding…