The US dollar is steady on Thursday after hitting multi-week lows in the wake of a weak US inflation report, which again put the focus back on the Fed’s rate cuts. Dollar on downtrend after key inflation data The dollar continued to slide after the latest US inflation data prompted expectations that the Federal Reserve would likely make two interest rate cuts this year, […]
El Salvador mines 474 Bitcoin thanks to volcanic geothermal power
El Salvador currently holds 5,750 BTC, valued at approximately USD 354 million, accumulated over nearly three years. Since 2021, El Salvador has mined a total of 474 Bitcoin, valued at USD 29 million, using environmentally friendly volcanic geothermal energy. Bitcoin was mined using energy from the Tecapa volcano, employing about 300 mining processors. According to Reuters, […]
Stock indices remain unchanged ahead of CPI report
US stock index futures traded flat on Wednesday, in anticipation of the monthly Consumer Price Index, which could shed more light on the future of the Federal Reserve’s monetary policy. On Tuesday, Wall Street’s major indices saw gains: the S&P 500 rose about 0.5%, the Dow Jones Industrial Average increased by 0.3%, and the NASDAQ […]
Biden orders removal of Chinese cryptocurrency near missile base
President Joe Biden said that entities owned by Chinese nationals ‘could take actions that threaten the national security of the United States. US President Joe Biden has signed an order barring a cryptocurrency mining company with ties to China from continuing to use land near a Wyoming nuclear missile defense base. Issued by the White […]
U.S. stocks fall after PPI release
US stocks traded flat on Tuesday as investors remained cautious ahead of the release of key inflation-related data that could determine the Federal Reserve’s monetary policy outlook. This lull in US futures trading continued a similar session on Wall Street, as investors awaited more clues about interest rates from inflation readings due both Tuesday and Wednesday. The S&P 500 closed flat, the Dow […]
Dollar unchanged ahead of inflation data while pound loses ground after employment figures
The US dollar remained unchanged on Tuesday, awaiting the release of key inflation data that will likely influence future interest rate decisions. Dollar unchanged in anticipation of inflation data The dollar, along with the currency market, has started the week quietly, awaiting the latest data on US inflation, which is likely to determine near-term sentiment […]
Trump secures a bigger tax cut: Effects on the crypto industry
Not long after expressing his support for the cryptocurrency industry and accusing his opponent in the US presidential race, Joe Biden, of animosity towards the sector, President Donald Trump has signaled major tax cuts if elected. Trump also referenced President Biden’s latest proposal, which would introduce new and increased capital gains taxes potentially impacting crypto […]
U.S. stocks rise on Monday ahead of inflation report
US stocks rose on Monday, trading in tight ranges ahead of the release of key inflation data due later this week, which is likely to influence the interest rate environment. Wall Street indices started the new week on a positive note, building on three consecutive weeks of gains, buoyed by strong results and the prospect of potential interest rate cuts […]
Dollar Down: Stabilizes After Key Inflation Data
The US dollar edged lower on Monday, consolidating after recent swings, as attention shifted to upcoming US inflation data for guidance on interest rates. The dollar awaits important inflation data Last week, the dollar experienced significant swings as mixed US economic data cast doubt on the timing of Federal Reserve rate cuts this year. However, […]
U.S. lawmakers vote to reverse a law barring banks from holding cryptocurrencies in custody
Lawmakers in the US House of Representatives have voted to approve a reversal of an SEC rule on digital asset custody accounting, framed in the regulator’s Special Accounting Bulletin No. 121. The rule virtually prevents commercial banks from offering their customers services related to cryptocurrency and digital asset custody due to the strict regulatory requirements […]