Economic Crisis

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Fed Chair Powell Warns of ‘Unsustainable’ Budget as US National Debt Crosses $26 Trillion

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In his testimony before the Senate banking committee, Federal Reserve Chairman Jerome Powell warned Congress that the U.S. federal budget has been on an unsustainable path for years. He added that the U.S. economy is facing a deep downturn with “significant uncertainty.” ‘Unsustainable Path’ The Federal Reserve chairman testified before the Senate banking committee on … Read more

Economists Predict Great Depression II for US Economy: Fast or V-Shaped Recovery Unlikely

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Several economists have predicted where the U.S. economy is heading. One said it would take a miracle to keep the recession from turning into another Great Depression. Some believe that a fast or V-shaped recovery is unlikely. Meanwhile, Apple CEO Tim Cook reportedly told President Trump the opposite, predicting that the U.S. economy will have … Read more

IMF Predicts Worst Global Crisis Since Great Depression, Costing $9 Trillion

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The International Monetary Fund (IMF) said the world’s current economic crisis is the worst downturn since the Great Depression, and no country is spared. The IMF estimates that the cumulative loss to global GDP from the pandemic could be around 9 trillion dollars. Also read: IMF Declares Global Recession, 80 Countries Request Help, Trillions of … Read more

Evidence Shows Politicians and Wall Street CEOs Expected the Market Crash Well Before Covid-19

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The coronavirus outbreak has sent shockwaves through the world’s economy and this has caused politicians and central bankers to react in various ways. However, global market leaders, Wall Street CEOs and hedge fund managers had one of the best years in more than a decade since the 2008 financial crisis. In fact, evidence shows that … Read more

Making Bitcoin Go Viral: Could Endless Printing Trigger a Hyperbitcoinization Event?

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Hyperbitcoinization has been defined as “a state where bitcoin becomes the world’s dominant form of money.” But what actually needs to happen for bitcoin to ‘go viral’? As it turns out, a hyperbitcoinization event may be more likely than many suspect, especially in the current economic climate. However, there’s one big caveat: it requires human … Read more

These Are the Bitcoin Stories You Loved in 2019

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2019 was a crazy year for cryptocurrency enthusiasts and a number of interesting events happened throughout the last 12 months. It’s hard to keep track of the day-to-day activities taking place within the cryptosphere and there may be a few incidents some of our readers missed. At news.Bitcoin.com we took the opportunity to scan our … Read more

Market Update: Economists Envision Global Recession While Crypto Prices Soldier On

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Last week cryptocurrency prices bounced around after a majority of coins dropped in value on August 21. Today on August 26, digital currency markets have gained around 1.52%, gathering $4 billion since the initial slump. Despite the volatility, cryptocurrencies have consolidated and a few speculators believe a breakout is on the cards that could send … Read more

Crypto Charity Airdrop Venezuela Raises $292K – Mostly in BCH

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According to the founder of Airdrop Venezuela, the charity that aims to donate US$1 million worth of cryptocurrencies to Venezuelans, the nonprofit has registered 60,000 beneficiaries and raised $292,000 in donations so far. Moreover, bitcoin cash (BCH) has led the pack as far as the most donations are concerned with roughly 670 BCH ($194,900) gifted … Read more

Venezuela Demands Citizens Pay for Passports With Petro

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Venezuelan authorities have found another way to impose the adoption of the state-issued cryptocurrency, the petro. Citizens will soon have to pay with the government-controlled digital coin if they want to obtain a travel document. Hundreds of Venezuelans are leaving the crisis-hit country every day. Also read: New Stablecoins: From Cryptopound and Metal-Backed Swiss Coin … Read more