Day: September 22, 2022

JPMorgan Chase CEO Jamie Dimon said in a U.S. congressional hearing that crypto tokens, like bitcoin, are “decentralized Ponzi schemes.” He told lawmakers: “I’m a major skeptic on crypto tokens which you call currency.” JPMorgan CEO Jamie Dimon Calls Crypto Ponzi Schemes Jamie Dimon, the CEO of JPMorgan Chase & Co., shared his view about cryptocurrencies, naming bitcoin in particular, in a congressional hearing Wednesday. Responding to a question by Representative Josh Gottheimer (D-NJ) about the rapid development of digital assets, Dimon emphasized the importance of separating cryptocurrencies from other…

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The Uniswap Foundation (UF), the group behind the decentralized exchange (dex) Uniswap, announced the first wave of foundation grants on Wednesday as it plans to distribute $1.8 million total, awarded across 14 grants. The UF announcement details that a touch more than $800K will be awarded to Uniswap Diamond, a project being constructed by GFX Labs. Uniswap to Disperse $1.8 Million to 14 Different Projects On September 21, the Uniswap Foundation announced the first wave of grants that aims to bolster the decentralized finance (defi) ecosystem and progress research and…

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Funko has teamed up with the multinational retail corporation Walmart and the American film and entertainment studio Warner Bros. to bring digital collectibles to the retail space, the pop culture collectibles firm announced on Wednesday. According to Funko, the digital collectible offering is consumer friendly as fans can purchase the non-fungible token (NFT) and physical collectible simultaneously. Funko, Warner Bros., and Walmart to Drop NFTs Tied to Physical Collectibles The company that’s well known for creating unique bobbleheads and vinyl figurines, Funko (Nasdaq: FNKO), has announced a partnership with the…

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While the greenback has been rising higher, the Japanese yen tapped a 24-year low and Japan decided to intervene in foreign exchange markets (forex) for the first time since 1998. Reports say the Bank of Japan conducted the first forex intervention in 24 years, after the Japanese central bank kept its benchmark bank rate suppressed for quite some time. Following the intervention, the yen rallied as the U.S. dollar took a steep dive against the Japanese yen during Thursday’s trading sessions. However, the greenback has stepped back up to the…

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PRESS RELEASE. Stockholm, September 22nd: As the world moves into more digital environments, Swedish beauty-tech giant FOREO has taken the initiative to bring a whole new product to audiences everywhere – the beauty NFT. Blockchain technology has allowed FOREO to challenge traditional skincare protocol and unobtainable beauty standards by bringing its renowned beauty range LUNA into the 21st century with NFTs of its leading products before traditional launch. Brands have the opportunity to bring their products to a whole new market, connecting younger generations with tailored, innovative skincare that promotes…

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Yields on long-dated U.S. Treasuries have been erratic this year and this week, the 10-year Treasury yield crossed 3.5% for the first time in a decade. Following the Fed’s 75bps (basis points) rate hike, 10-year notes reached 3.642% and two-year Treasury notes jumped to a 15-year high at 4.090%. The curve between the two- and 10-year notes indicates the chances of a deep U.S. recession have grown stronger, and recent reports say bond traders have been “confronted with the wildest volatility of their careers.” 2 Quarters of Negative GDP, Red-Hot…

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XRP moved to a fresh four-month high on Thursday, which comes as volatility in the crypto markets eased, following the latest U.S. Federal Open Market Committee meeting. The token rose past a key hurdle in today’s session, hitting its highest point since May. Algorand was another notable mover, with prices climbing by as much as 17%. XRP XRP raced to a four-month high on Thursday, after hovering close to this milestone during yesterday’s session. XRP/USD rose to a high of $0.4461 on Thursday, as prices moved past a resistance point…

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Major government institutions in Moscow, the central bank and the finance ministry, have aligned their positions on the regulation of cryptocurrency mining in the Russian Federation. The respective bill will soon be filed with the State Duma, a high-ranking member of the house unveiled. Financial Authorities Reach Consensus on How to Regulate Mining of Digital Coins in Russia The Central Bank of Russia (CBR) and the Ministry of Finance (Minfin) have adopted a joint position on the regulation of crypto mining. The bitcoin-related activity has been expanding in the energy-rich…

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Ethereum dropped below $1,300 on Thursday, as markets continued to react to the U.S. Fed’s latest decision to raise interest rates. Following speculation of a 100-basis-point hike, the Federal Reserve hiked rates by 0.75%, as it continues to struggle against rising consumer prices. Bitcoin also declined, moving close to the $18,000 level. Bitcoin Bitcoin (BTC) moved closer to $18,000 on Thursday, as markets slipped following the latest U.S. Federal Reserve policy meeting The Fed opted to increase interest rates by 75 basis points on Wednesday, with Chair Jerome Powell hinting…

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Cryptocurrency Binance has received another license from Dubai’s crypto regulator. Binance can now provide more crypto-related services in Dubai. Binance’s New License in Dubai Cryptocurrency Binance announced Wednesday that it has received the Minimal Viable Product (MVP) license from Dubai’s Virtual Asset Regulatory Authority (VARA). The announcement details that besides allowing Binance to “open a client money account with a domestic bank,” having an MVP license means: Binance can offer an approved range of virtual asset-related services to suitably qualified retail and institutional investors in Dubai. The approved services are…

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