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News & Articles By Franz Walker
06/23/2021
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By Franz Walker
China’s central bank calls on top executives to reinforce crypto ban
China’s central bank ordered officials from the country’s largest banks to reinforce a ban on cryptocurrency services. A statement from the People’s Bank of China (PBOC), released Monday, June 21, said that representatives from the Industrial and Commercial Bank of China Ltd., Agricultural Bank of China and internet payment provider Alipay were summoned to a meeting where they […]
06/14/2021
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By Franz Walker
Coronavirus outbreak in Taiwan threatens to worsen global semiconductor shortage
In the midst of an ongoing semiconductor shortage, the spread of the Wuhan coronavirus (COVID-19) into Taiwan’s electronic factories is threatening to delay chip shipments even further. The country, home to a number of the world’s largest semiconductor manufacturers, is suffering from its first large outbreak of COVID-19. This has come against a backdrop of […]
06/14/2021
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By Franz Walker
US dollar weakened during the pandemic – but its problems started long before that
The Wuhan coronavirus (COVID-19) is devastating the American economy, resulting in the U.S. dollar steadily losing value. But the dollar’s current decline in value traces its roots to more than just the pandemic. After an initial spike, the value of the dollar has been falling steadily since the pandemic took hold in the U.S. last March. It’s […]
05/27/2021
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By Franz Walker
Supply shortages drive inflation to record levels
Inflation signs are picking as worldwide supply shortages are leading to price increases in raw materials in recent months. A number of consumer-facing companies are warning that the shortages and logjams are forcing them to raise prices. According to a recent report by the Institute of International Finance (IIF), the supply disruptions caused by the […]
05/26/2021
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By Franz Walker
Drop in cryptocurrency prices raises questions about their stability
Cryptocurrencies, such as bitcoin and dogecoin, went through a roller coaster the past few weeks, with prices falling from previous highs. While the values of cryptocurrencies remain high, it’s raised fears about their stability. The values of various cryptocurrencies fell over the past few weeks after Tesla CEO Elon Musk pulled the automaker’s support for bitcoin on environmental grounds. Prices […]
05/20/2021
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By Franz Walker
Signs of a bubble: Cryptocurrencies now worth more than all US dollars in circulation
Cryptocurrencies hit a significant milestone last month, reaching a valuation of $2 trillion on April 29 – the same valuation as all U.S. dollars in circulation. While the statistic is seen as a solid indicator of crypto’s growing popularity, some warn that it’s a sign that crypto is in a bubble that may soon burst. […]
05/17/2021
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By Franz Walker
Spike in value of meme crypto dogecoin raises bubble fears
The sudden surge in the value of “meme” cryptocurrency dogecoin has raised concerns about a potential bubble in the cryptocurrency market. Starting out as a joke by software engineers Billy Markus and Jackson Palmer, dogecoin was based on the “doge” meme that rose to popularity in 2013. The meme portrays a Shiba Inu dog alongside nonsensical phrases […]
05/13/2021
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By Franz Walker
Tesla reports record quarterly net profit bolstered by bitcoin sales
Automaker Tesla reported a quarterly net profit of $438 million on a GAAP (Generally Accepted Accounting Principles) basis on Monday, April 26. A good chunk of this profit came not from car sales or federal credits but from sales of bitcoin during the quarter, which contributed $101 million to the company’s bottom line. The $438 million represents […]
05/11/2021
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By Franz Walker
Crypto exchange Coinbase experienced a rocky stock market debut
Stocks of Coinbase seesawed on April 15 following its trading debut as markets struggled to place a value on America’s biggest cryptocurrency exchange. Shares initially spiked as much as 6.4 percent, though a choppy session eventually saw shares close at 1.7 percent at $322.75. All in all, nearly 40 million Coinbase shares changed hands during Thursday’s […]
05/04/2021
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By Franz Walker
Flash crash causes bitcoin, other cryptos to plunge, “washout” imminent says expert
Cryptocurrencies, especially bitcoin, were hit by a sudden flash crash early on the morning of Sunday, April 18, tanking prices. The plunge, which wiped out around $300 million from the broader crypto market, has caused one expert to warn of a “washout” ahead. The price of bitcoin, which had been on a downward trend for […]
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