This year, the US dollar has outperformed its counterparts. The currency showed great resilience and significantly strengthened against the euro and approached parity with the British pound. Meanwhile, the only serious contender for USD is bitcoin. Leaving all major currencies behind, the greenback aims to beat cryptocurrencies in terms of yields this quarter. The MVIS CryptoCompare Digital Assets 100 index has added 7.3% since June. At the same time, stocks, bonds, commodities, and gold depreciated while the DXY index peaked during that period. The greenback managed to benefit from falling traditional trading instruments amid monetary policy tightening. Bitcoin is trading at $19,300 and gained 22% on average, according to Bloomberg. The flagship cryptocurrency may become a real challenge for the US dollar. JPMorgan CEO Jamie Dimon called cryptocurrencies “decentralized Ponzi schemes.” However, he admitted that properly regulated stablecoins pegged to USD and other currencies could be used for transactions.
Cathie Wood sees BTC hitting $1 million by 2030
According to Yahoo, Cathie Wood, the biggest crypto enthusiast and head of Wood’s Ark Innovation fund, is optimistic about the future of BTC. She believes that the first cryptocurrency may well soar by 6,000% up to $1 million.Despite growing fears of a looming "crypto winter", fueled by a recent 65% crash in the value of bitcoin, Wood remains bullish on the digital currency.
13:42 2022-12-02 UTC+00
Black Friday sales break record in US
According to Adobe Analytics, US shoppers spent $9.12 billion online this Black Friday, November 25, 2022. The figure soared by 2.3% year-over-year, analysts reported. In 2022, US online sales hit the record of 2021 estimated at $9.03 billion. Shoppers spent their money primarily on toys, electronics, and sporting goods, the sales of which soared by 285%, 221%, and 218% respectively.
13:24 2022-12-02 UTC+00
IOSCO to target crypto platforms after FTX crash
Following the crash of one of the largest crypto exchanges, FTX, global regulators highlighted the need for tighter regulation of the crypto segment. Targeting crypto exchanges will be the main focus for regulatory authorities in 2023, according to Jean-Paul Servais, the new chair of global securities watchdog IOSCO.
11:38 2022-12-02 UTC+00
Musk postpones Twitter’s paid verification relaunch
Twitter’s new owner Elon Musk decided to postpone the launch of paid verification on the social media platform. However, his fans have nothing to worry about. The businessman has not lost his grip. The restart of the paid verification service has been delayed for technical reasons. Currently, the company cannot effectively prevent the impersonation of users' accounts.
13:10 2022-11-30 UTC+00
Joe Biden: US ready to lead global economy
Joe Biden has stated the US remains the world’s leading economy and will always have such a status. This might not be an empty promise, however. Unlike many other politicians around the world, he actually may back up his words with action.The US has always come on top against other countries, but even with very few challenges, keeping the lead is not an easy task.
12:26 2022-11-30 UTC+00
FTX aftershock to cause Genesis meltdown
By the year-end, there could be one more bankrupt crypto exchange. Following the FTX collapse, the Genesis crypto broker may face a liquidity crunch. Genesis came into the spotlight when it became known about the company’s problems. Markets instantly reacted to the news, and the fact that the firm had close ties to the now-bankrupt FTX exchange only fanned the flames.
12:18 2022-11-30 UTC+00