Tag Archives: Financial Crisis

Balaji Srinivasan, a venture capitalist and former CTO of Coinbase, claimed that the US economy would enter a phase of hyperinflation in 90 days, catapulting BTC to $ 1 million.  Balaji, whose crypto venture Earn.com was acquired by Coinbase in 2019, also offered to pay $1 million in BTC to the best 1,000 tweets that alert about stealth financial crisis.   Balaji Bets BTC to be at $1 Million  Yes. Just moving money for the bet. We can do it via smart contract, but for...

Numerous Palestinians in the blockaded enclave of Gaza have lost their lives due to the Israeli-Palestinian conflict, while others are on the edge of survival. The total destruction of the area has also negatively affected the local financial network. Trying to preserve their wealth and monetary independence from Israel, an increasing number of Gazans have turned to bitcoin and other digital currencies. The Israeli-Palestinian War The clash between the two nations, which...

The hyperinflation, the collapse of the local banking system, and the significant depreciation of the currency prompted numerous Lebanese residents to embrace cryptocurrencies, including stablecoins. Some locals have also focused on bitcoin mining since they can use cheap hydropower from rivers and generate “fresh dollars.” What Triggered the Collapse? Lebanon, considered one of the most developed countries in the Middle East before the 1970s, currently struggles with...

Australia’s inflation hit 7.3%, which is the highest rate in 32 years. Considering the soaring prices of real estate and gas, analysts expect this figure to surge even more before the year’s end. To preserve their wealth during these turbulent times, locals have displayed increased interest in alternative financial assets, including cryptocurrencies. The Aussie government has also put crypto on its agenda. The new Prime Minister of the nation – Anthony Albanese – vowed to...

Some of the tech-savvy youngsters in Lebanon have reportedly shifted their focus toward cryptocurrencies amid the current monetary crash Earlier this week, the government closed all local banks due to ongoing risks for employees and customers. It remains unknown when the financial institutions will re-open, which might be one reason why locals started looking for alternative financial instruments, including digital assets. Crypto to the Rescue The economic situation in...

Middle East’s Lebanon is a country with well-known economic issues, deepening for years and peaking during the COVID-19 pandemic.With the nation’s unfavorable situation, numerous prominent economists have offered widely-ranging solutions to the depreciating local currency and USD dependence. Nevertheless, a recent report explored the possibility of a more untraditional solution – Bitcoin.Lebanon: How Did It Get Here?The country’s economy is primarily based on services with the tourism sector...

The University of Sussex recently published a paper regarding the performance of Bitcoin and gold during the COVID-19 pandemic. The research team behind the project believes that both assets failed to serve as safe-havens, primarily because of significant market manipulations.Bitcoin And Gold Failed In The 2020 Crisis?The sudden outbreak of the COVID-19 pandemic earlier this year prompted numerous disturbances in everyday life and in financial markets. March alone was among the worst trading...

The large American multinational investment bank Goldman Sachs will host a conference call regarding Bitcoin, gold, and inflation. While precise information on the call’s content is limited, the massive bank appears to be the latest Wall Street-based entity to acknowledge the primary cryptocurrency.Goldman Sachs To Talk About BitcoinAccording to the invitation, the event will take place on May 27th, and it’s called “US Economic Outlook & Implications of Current Policies for Inflation,...

According to Robert Kiyosaki, Bitcoin will be valued at $75,000 in three years, as an incompetent Fed oversees a dying economy.The author of the global phenomenon, Rich Dad, Poor Dad, took to Twitter on May 16, where he revealed his recent investments in hard assets such as gold and silver – and also Bitcoin.He made three bold price predictions about the assets mentioned above, citing a dying economy and Fed bailouts as the main catalysts. Kiyosaki tweeted:ECONOMY dying. FED incompetent. Next...

Minneapolis Federal Reserve President Neel Kashkari wrote Thursday that banks should cancel dividends and sell shares to raise cash. Kashkari said these measures would be necessary to create a cash buffer going into a potentially drawn-out recession. Because should the banks fail to have enough cash on hand, a wave of defaults could trigger a financial crisis. Kashkari wrote: “The most patriotic thing they could do today would be to stop paying dividends and raise equity capital, to ensure...