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Global Supply Chain Financing: A New Era of Resilience and Diversification
Citi's 2024 report on supply chain financing highlights a shift towards resilience and diversification in global trade, emphasizing technological innovations and the adoption of the China Plus One strategy.
Bitcoin will Reach $70,000 Soon if the Federal Reserve Cuts Rates
BitMEX's ex-CEO Arthur Hayes suggested that a Federal Reserve rate cut could propel Bitcoin to the $70,000 mark, rejuvenating the US banking sector. Historical trends show a symbiotic relationship between the Federal Reserve's monetary decisions and Bitcoin's trajectory. Bitcoin's ascent outpaced the Fed's balance sheet expansion by 129% during the pandemic. However, post-March 2022, the Federal Reserve implemented three additional hikes, causing a reevaluation among market participants and analysts. The 'Real Yield', derived by offsetting the Government Bond Yield with Nominal GDP Growth, remains pivotal in this discourse. The US Treasury's augmented bond issuance at steeper rates may inadvertently amplify nominal GDP growth.
CME Group and CF Benchmarks to Introduce APAC Reference Rates for Bitcoin and Ether
CME Group and CF Benchmarks will launch APAC-specific Bitcoin and Ether reference rates on Sep 11. The rates aim to cater to growing crypto interest in the Asia Pacific, providing daily U.S. dollar values at 4 p.m. HK/SG time.
Federal Reserve Keeps Interest Rates Steady, Bitcoin Responds with Significant Fluctuations
Federal Reserve officials has agreed to keep interest rates unchanged following 10 consecutive hikes. However, the Federal Reserve hinted that they may consider a rate hike next month if the economy and inflation don't show further signs of cooling down.
Nearly Half of Millennials Own Cryptocurrencies
A recent survey conducted by Bitget, a cryptocurrency exchange, has found that 46% of millennials in major population countries own cryptocurrencies, compared to 25% of Gen X, 21% of Gen Z and 8% of baby boomers. The survey also revealed that 27% of millennials and 36% of Gen Z consider cryptocurrency regulation an important factor when voting for political candidates.
BankProv Stops Offering Loans Secured by Crypto Mining Rigs
BankProv said in an SEC filing that it would no longer lend against crypto mining machines.
Bitcoin Holds Steady at $20,000 Level as The Fed Hikes Rates as Expected
The Federal Reserve enacted the 4th consecutive 75 basis point rate hike on Wednesday. Bitcoin reacted.
Bitcoin Price Holds Firm Around $19,000 Amid Institutional Adoption Surge
Institutional adoption appears to be a crucial driver for holding Bitcoin prices steady.
Dubai Sees Crypto as Stepping Stone Towards Global Tech Hub
Dubai is reaping the dividends of new tech investments because it has laid the ground for a post-pandemic boom through a business-friendly and low taxes environment.
FTX Gets Full Approval to Operate Crypto Exchange in Dubai
FTX has received full government approval to expand its services in Dubai. In March, the exchange obtained a partial license to offer its services in the region.