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Is “King Dollar” in danger of losing its crown?
Probably not yet, but the rapid unwinding of last year’s torrid rally in the U.S. dollar, combined with efforts in Beijing and beyond to ease their dependence on the buck, have helped to reinvigorate speculation that the greenback’s dominance over international trade and finance may be moving toward its twilight.
Talk about “de-dollarization” has intensified, and Wall Street analysts have...
Chinese Economy Defies Naysayers
In late 2020 and early 2021, the U.S. was being pummeled by Covid-19, by its scattershot response to the pandemic and by toxic politics. Many observers concluded the nation had entered terminal economic and political decline. But a year later, having suffered through Covid-19 and the associated political shocks, it was growing strongly again and had reasserted itself on the world stage.
Something similar is happening in China now...
Bittrex Sued By SEC For Operating Illegal Exchange Even As It Shutters US Ops
According to the SEC's complaint, Bittrex and its former CEO Bill Shihara knowingly circumvented the registration requirements of the federal securities laws by instructing issuers of crypto assets to delete certain statements from their offering materials that would indicate that they were securities. Bittrex also earned at least $1.3 billion in revenues from transaction fees from investors, including U.S. investors,without registering or complying with U.S. securities laws.
Crypto regulation: Does SEC Chair Gary Gensler have the final say?
In a February interview with New York Magazine, Gary Gensler, chairman of the United States Securities and Exchange Commission, said that just about every crypto transaction, with the exception of Bitcoin spot transactions and buying or selling things with cryptocurrency, falls within the jurisdiction of the SEC.
In the interview, when discussing what types of crypto transactions should be regulated as...
New AI Chatbot Plugs Into Your Crypto Wallet
The AI overlords are coming for your coins.
DeFi lender marginFi on Tuesday debuted an experimental chatbot called Omni. It’s a custom build of OpenAI’s wildly popular ChatGPT with a twist: it can also interact with your wallet.
“The idea is to make crypto easier,” marginFi CEO Edgar Pavlovsky told CoinDesk in an interview. He says Omni can help users perform simple web3 tasks, like spinning up a transaction to deposit and withdraw tokens to and from decentralized finance (DeFi) protocols such as his.
Coinbase CEO meets with UK Economic Secretary to discuss crypto innovation
Coinbase CEO Brian Armstrong tweeted he had a “great meeting” with U.K. Economic Secretary to the Treasury Andrew Griffiths.
The U.K. government seeks to position the country as a crypto hub through legislation encouraging business investment and retail adoption.
However, spurred by talk of a digital pound and several U.K. banks blocking crypto on-ramping, that narrative has been called into question recently.
Armstrong shrugged off those concerns by saying the U.K. is on track to deliver “sensible crypto regulation,” adding that Coinbase is excited to continue supporting the region.
What Is HBD And Building An Economy (Part 2)
his is a follow up to our previous article about HBD and building an economy.
In that we covered some important points:
an economy is fueled by the money that is available
increasing the money supply will increase economic productivity as long as the country has the resources available to do so
currencies other than USD and EUR are basically national currencies, with these making up the majority of reserves and transactions
The Hive Backed Dollar(HBD) is global in nature...
At the end of the day, CBDCs are on the way, there is no way of getting around it. I do however believe that there will be a fair amount of resistance to their integration. It’s likely that there will be an incentive, similar to the way they tried to push vaccinations, once they realized people were somewhat resistant and opposed to the idea. Initial CBDC adopters are likely to see their accounts being credited with a “welcome deposit”.
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