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News & Articles By Franz Walker
12/19/2021
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By Franz Walker
Bank of Japan official downplays China’s digital yuan’s chances of being world reserve currency
A senior official from the Bank of Japan (BOJ) has downplayed the potential of China’s digital yuan to threaten the position of the U.S. dollar as the world’s main reserve currency. “The dollar’s status as the key global currency won’t change so easily,” said BOJ payment system’s department head Kazushige Kamiyama, who has been put in charge of […]
10/16/2021
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By Franz Walker
Report: Etherium still uses massive amounts of energy across its cryptocurrency network
Ethereum, one of the biggest cryptocurrencies after bitcoin, consumes massive amounts of energy to run its network. This is despite efforts from its creators to reduce its energy consumption a few years back. A new report from Digiconomist‘s Ethereum Energy Consumption Index shows that Etherum experienced a massive spike in energy consumption starting this past […]
09/09/2021
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By Franz Walker
LINE IN THE SAND: Banks must not exclude firearms industry if they want to participate in bond market, says new Texas law
A new Texas law will require banks underwriting the state’s municipal bond market to certify by Wednesday, Sept. 8, that they’re not excluding the firearms industry. Municipal and state debt in Texas is underwritten by some of America’s largest banks, including JPMorgan Chase, Citibank and Bank of America. But in doing so, these banks have […]
09/07/2021
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By Franz Walker
Big margin bets driving wild swings in cryptocurrency market
The wild swings in the values of cryptocurrencies, such as bitcoin, are being driven by more than Elon Musk’s tweets or China’s crackdowns. Instead, traders taking excessive risk in the market being forced to sell when prices go down are thought to be largely responsible for last week’s 30 percent price drop. Bitcoin, the world’s largest […]
07/19/2021
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By Franz Walker
Federal government set records for taxes, spending and deficit through May
The government set new records for the taxes it collected, the spending it engaged in and the deficit it ran for the first eight months of fiscal year 2021, according to the Department of Treasury‘s Monthly statement. From October 2020 through May 2021, federal taxes hit a record $2.6 trillion while federal spending climbed to $4.7 trillion. […]
07/01/2021
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By Franz Walker
Top Bitcoin mining rig maker suspends sales as clients flee Chinese crackdown
The world’s top bitcoin mining rig maker has suspended sales of its machines for spot delivery globally following Beijing’s crackdown on the cryptocurrency industry in the country. Bitmain Technologies is stopping sales in an effort to prop up local prices after crypto miners fleeing China have started dumping used mining rigs on the market. By postponing sales, […]
06/27/2021
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By Franz Walker
South African brothers disappear with $3.6 billion worth of stolen bitcoin
A pair of South African brothers have vanished, taking with them $3.6 billion worth of bitcoin from the cryptocurrency investment platform they put up. A Cape Town law firm hired by investigators says it is unable to find Ameer and Raees Cajee, founders of Africrypt, the country’s largest cryptocurrency exchange. The firm has since reported […]
06/24/2021
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By Franz Walker
Food prices on the rise in America as companies look to cover higher production costs
Across America, the food on people’s plates is getting more expensive as food companies pass along higher costs to consumers. A number of food makers, including General Mills, Campbell Soup, Unilever and J.M. Smucker are raising prices at supermarkets. Meanwhile, restaurants like Chipotle and Burger King are raising menu prices. According to company executives, prices are only going to increase […]
06/24/2021
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By Franz Walker
Chinese crypto crackdown causes bitcoin prices to plunge
On Monday, June 21. the price of bitcoin and other cryptocurrencies slid further after China’s central bank ordered the country’s largest banks and payment processors to play a bigger role in curbing cryptocurrency trading and related activities. The People’s Bank of China (PBOC) on Monday summoned representatives of multiple financial institutions – including Industrial and […]
06/23/2021
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By Franz Walker
“The Big Short” investor warns about “mother of all crashes” for crypto and meme stocks
On Thursday, June 17, American investor Michael Burry, who gained fame after his crisis-era bets on the housing market became the subject of the film “The Big Short,” warned about losses “the size of countries” should crypto and meme stocks decline. “All hype/speculation is doing is drawing in retail before the mother of all crashes,” Burry […]
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