In a revolutionary move, Hong Kong is exploring the idea of launching its Stablecoin, HKDG, to rival established Stablecoins like USDT and USDC. As reported by Wu Blockchain, the proposal, co-authored by prominent figures in academia and industry, including Vice Chancellor Wang Yang and angel investor Cai Wensheng, aims to enhance Hong Kong’s position in...
The U.S. Department of Labor released new data today showing a 0.6% increase in the consumer price index (CPI) for August. This is the largest monthly rise in U.S. inflation so far this year. The report showed that prices have gone up by 3.7% compared to August of last year, slightly higher than what economic...
Today, the Hong Kong Monetary Authority (HKMA) issued a warning to cryptocurrency companies that improperly use the term “bank” in describing their services. The authority stated that such wording wrongly suggests these companies are regulated by the HKMA, which is not the case. According to HKMA rules, only organizations with specific licenses can operate as...
The U.S. House Financial Services Committee is currently a battleground for discussions concerning the possible launch of a Central Bank Digital Currency (CBDC) by the Federal Reserve. Today, Maxine Waters, a Democratic representative from California, sharply criticized a bill reintroduced by Republican Rep. Tom Emmer of Minnesota. The bill is looking to prevent the Federal...
Image by PublicDomainPictures from Pixabay In the first half of 2023, global debt increased by $10 trillion, reigniting concerns about its impact on the world economy and the potential for a financial crisis, according to data released by the Institute of International Finance (IIF) on Tuesday. The report disclosed that the overall debt has climbed...
Kraken is exploring the addition of stock and ETF trading options to its platform, pending regulatory approvals.Photo by PiggyBank on Unsplash San Francisco-based crypto exchange Kraken is reportedly considering a move into the stock market with the addition of stocks and exchange-traded funds (ETFs) to its trading platform, according to a Bloomberg report today. The...
FTX recovers $7.3 billion in assets, boosting the value of its bankruptcy claims.Photo by Bybit on Flickr/ CC BY 2.0 According to a Wednesday report by digital assets platform Matrixport, the market value of bankruptcy claims against crypto exchange FTX has more than tripled this year. This comes ahead of the founder and CEO Sam...
August data shows a decrease in core PCE inflation to 3.9% / Photo by Alexander Grey on Unsplash According to data released today by the U.S. Burea of Economic Analysis (BEA), the Federal Reserve’s preferred metric for inflation, known as the core personal-consumption expenditures (PCE) price index, showed a decrease in August. The PCE report...
A lucky player has won a $1 million fortune on the slots at No.1 Telegram casino, Mega Dice. A stake of $500 was turned into a $1 million haul in a series of high-payout spins. The news has exploded onto the crypto betting scene, validating, yet again, the opportunities and advantages the decentralized gaming infrastructure...
Source / Sam Cooling x TheDigitalLine As October unfolds, crypto markets are still wrestling with the term ‘Uptober’ – for the uninitiated, “Uptober” is an amalgamation of “up” and “October”, describing the historical trend where Bitcoin, and often other major cryptocurrencies, witness a price surge in October. As Bitcoin kicks off the month at above...