Tag Archives: United States

The initial expectations for the CPI numbers for March showed a decline in the inflation rates to 5.2%. In reality, the third month of the year saw an increase of 5%, shown by the Consumer Price Index. At the same time, the core CPI, which excludes more volatile niches such as food and energy, was expected to be somewhere between 5.5% and 5.6%. The Core CPI has actually matched the expectations, standing at 5.6%. The CPI for February stood at 6%, which was a decline compared...

Robert F. Kennedy Jr – the nephew of former President John F Kennedy, who challenged Joe Biden for the Democratic nomination in the 2024 elections – blamed the Federal Reserve for the current disturbing condition of the financial sector. He believes cryptocurrencies like bitcoin could serve as lifeboats to individuals “when this bubble invariably bursts.” Pro Bitcoin and Anti CBDC The 2024 presidential campaign in the United States of America includes some interesting names,...

It’s April, and the Bitcoin price has been hovering around the $28,000 level since Mar 23. That’s a roaring price rally after starting March at the $23,500 handle. Bitcoin started off the new year trading at a measly $17,000. The question for crypto investors and traders now is whether BTC is looking expensive at that price or poised for another leg upward over the next quarter or the remainder of the year. Two Quick Near-Term Price Factors One bullish hint is that the king...

The cryptocurrency market has stalled for the past several days, but all that is expected to change by the middle of the week. This is because of two notable events about to take place – the announcement of the latest CPI data in the United States and the long-anticipated Shanghai/Shapella update for the Ethereum network. CPI Data on the Horizon For the past year or so, the US CPI data has been strongly impacting bitcoin’s price performance, at least for the short term. The...

By the end of World War II, the United States found itself in a position of preeminence in the global economy. For decades and generations after that time, its national security has depended on petrodollar hegemony. The standardized use of the dollar for international trade in petroleum and other commodities ensured a constant demand for the currency. This unrelenting massive global demand for U.S. dollars became a generational subsidy. It allowed the central bank to print...

The California Department of Financial Protection and Innovation (DFPI) joined a multi-state settlement with Robinhood, which will pay approximately $10.2 million in fines for registering operational deficiency that negatively affected investors during the COVID-19 crisis. The crypto-related company was slapped with another $30 million penalty last summer by the New York State Department of Financial Services (NYDFS) for violating anti-money laundering and cybersecurity...

Adrienne A. Harris – Superintendent of the New York State Department of Financial Services (NYDFS) – said the premise that the bank’s ties to crypto-related businesses were behind its closure is “ludicrous.”  The financial institution revealed severe operational difficulties last month and was shut down by American regulators to prevent further issues. Crypto Was not the Reason The head of the NYDFS assured in a recent interview that the relevant watchdogs closed Signature...

While crypto companies in the United States are fleeing to more favorable jurisdictions, traditional financial institutions elsewhere are increasingly tapping the digital asset space. In the latest development, Swiss government-owned retail bank PostFinance partnered with Sygnum to offer its customers a range of regulated digital asset banking services. Sygnum is a Zurich-based regulated digital asset bank supervised by the Swiss Financial Market Supervisory Authority...

On March 31, Bittrex, one of the largest and oldest US exchanges, announced the closure of its operations due to the country’s current “regulatory and economic environment.” According to the official statement, users’ funds will remain secure and available for withdrawal at any time during the wind-down of US operations. This announcement will not affect customers outside the country using Bittrex Global. US Regulations Created An Uneven Competitive Landscape Bittrex...

The President of the United States – Joe Biden – thinks the turbulence that recently shook the banking sector is not entirely gone. As such, his cabinet is ready to impose further legislative changes to cope with any potential issues in the future. Two of America’s leading banks – Silicon Valley Bank (SVB) and Signature Bank – experienced severe operational issues and were shut down by regulators earlier this month. Major institutions outside the States, including Credit...