While the Fed Monitors the ‘Ukraine Situation Closely,’ Powell Still Expects a Series of Quarter-Point Rate Hikes

Federal Reserve chairman Jerome Powell still expects to see interest rate hikes starting in March, but the Fed chief further stressed that the central bank will “need to be nimble.” In remarks prepared for members of U.S. Congress, Powell discussed the Russian invasion of Ukraine, noting that the “implications for the U.S. economy are highly … Read more

Swiss Government Rejects $103 Million Bailout for Crypto Companies Battered by Coronavirus

Switzerland’s government has rejected a 100 million franc ($103 million) bailout for local cryptocurrency companies battered by the coronavirus economy, local media reported. Zug finance director Heinz Taennler requested the special funding facilitation in April. He planned to issue out loans to startups, which could be converted into shares. The central government had already unveiled … Read more

Bitcoin Miners Reveal Concerns Over Mining Rig Shipment Delays and Bitcoin Halving

The cryptocurrency market rout in mid-March, which saw bitcoin’s price slide significantly in value, has strained bitcoin mining operations by slashing considerable revenue from the block rewards. Moreover, shipping delays from mining manufacturers have caused uncertainty and mining operations don’t know when next-generation miners will ship. The mining firm Hut8 has revealed in an earnings … Read more

Q1 Crypto Trade Volume Jumps 61%, Bitcoin’s Price Performance Trumps Equity and Gold Markets

For well over a month now, a great number of countries have been living under lockdowns and stay-at-home orders due to the coronavirus outbreak. Meanwhile, central banks like the Fed, Bank of England (BoE), and European Central Bank (ECB) have funneled trillions into the hands of private financial incumbents. Despite the market carnage on March … Read more

Merchant Services, Gambling, and Darknets: Coronavirus Economy Stunts Cryptocurrency Spending

A lot has changed since the coronavirus pandemic swept the globe as it has caused a wide range of negative effects on the world’s economy. On March 30, the blockchain surveillance firm Chainalysis published a report that shows how the cryptoconomy is faring from merchant acceptance to gambling, and darknet purchases as well. The researcher’s … Read more