Category: Featured
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SEC Chair Gensler Faces Lawmakers’ Heat on Crypto Regulation
”’ Bitcoin and the Howey Test House Financial Services Committee Chair Patrick McHenry, R-N.C., pressed Gensler on whether bitcoin should be classified as a security. Gensler clarified that bitcoin is not a security and does not meet the criteria outlined in the Howey Test. The Howey Test, established by a 1946 U.S. Supreme Court case, […]
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High-Level Talks Aim to Build Communication, Maintain Fragile Stability with China
China-U.S. Communication: Addressing Differences and Seeking Common Ground (CoinUnited.io) — China’s Ministry of Finance emphasized the importance of communication in a statement regarding Janet Yellen’s visit. They stated that differences should not lead to estrangement but rather serve as a catalyst for strengthened communication and exchanges. The Chinese side raised several issues during the meetings, […]
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Private Payrolls Exceed Expectations in June, Defying Recession Concerns
Private Payrolls Exceed Expectations (CoinUnited.io) — The ADP National Employment Report revealed that private payrolls soared by 497,000 jobs in June, surpassing economists’ predictions. The Reuters poll had projected an increase of 228,000 jobs. Additionally, a separate survey of economists suggests private payrolls likely rose by 200,000 jobs for the same period.Considering the anticipated growth […]
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ECB to Hike Rates Amid 3.5% Inflation Despite Slowing Economy
ECB likely to continue raising interest rates amid economic slowdown SINTRA, Portugal, June 27 – The European Central Bank (ECB) is expected to persist in raising interest rates after its next meeting, despite a slowing economy, as inflation remains too high, according to ECB policymaker Martins Kazaks. Recent economic surveys reveal a worsening situation for […]
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Music Fans Face Skyrocketing Prices: UK Inflation Rate at 6.8%
Beyflation: Rising Live Music Costs The cost of certain goods is retreating in some places, but that doesn’t include live music. Fans are shelling out a fortune for tickets to see the world’s biggest music acts, with the United Kingdom’s recreation and culture prices rising 6.8% in the year to May 2023, their fastest in […]
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SEC and Treasury Heads Advise on GOP’s Digital Asset Bill: Commodity Status Looms
Gensler and Yellen Called to Discuss Digital Asset Bill Securities and Exchange Commission Chair Gary Gensler and Treasury Department Secretary Janet Yellen have been requested to provide analysis on a Republican-led digital asset market structure bill set for a committee vote in the coming weeks. House Financial Services Committee leading Democrat Maxine Waters sent letters […]
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Swiss CBDC Pilot: Real Money Set for SIX Digital Exchange
Swiss National Bank to Pilot Wholesale Central Bank Digital Currency The Swiss National Bank (SNB) has announced plans to pilot a wholesale central bank digital currency (CBDC) on the nation’s SIX digital exchange. The central bank’s chairman confirmed at a conference in Zurich on Monday that this is more than just an experiment, stating, “it […]
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UK Banks Slow to Pass Rate Hikes to 60% of Savers
UK banks slow to pass on interest rate increases to savers, says finance minister Britain’s finance minister Jeremy Hunt stated on Monday that banks are not passing on increases in central bank interest rates to savers quickly enough, creating a problem that needs to be resolved. Banks have been quick to pass on higher interest […]
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Annual Bank Stress Tests: US Fed to Reveal Results, Assess 23 Banks’ Health
U.S. Federal Reserve to Release Annual Bank Health Check Results The U.S. Federal Reserve is set to release the results of its annual bank health checks on June 28. Through this “stress test” exercise, the Fed examines banks’ balance sheets against a hypothetical severe economic downturn, with the details changing each year. The outcome determines […]
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Tech Titans: Musk’s 14,096% Tesla Growth vs. Zuckerberg’s 650% Meta Surge
Mark Zuckerberg vs. Elon Musk: Stock Performance and Philanthropy Battle Mark Zuckerberg and Elon Musk are reportedly planning to square off in a physical cage match, but the tech titans have been facing off financially for years already. Comparing the performances of Meta Platforms Inc. and Tesla Inc. shares, it appears Zuckerberg would beat Musk […]