The Metaversal evolution will not be centralised July 28, 2022 Web3 is Metavolutionary Some have questioned whether Web3 offers much in the way of utility. Web3 is the build-out platform for evolutionary economic and governance models. For a Web3 company to succeed, it not only needs a great product, an established userbase, but also an attack-resistant system of governance. While there will be plenty of [...]
US plunges into technical recession as rest of world braces for similar fate July 28, 2022 The US economy has plunged into a technical recession in a sign of things to come for the rest of the world, figures published today revealed. The American economy unexpectedly shrank 0.9 per cent in the three months to June, marking the second successive quarter the economy has contracted, meeting the common definition of a [...]
Crypto prices surge after Fed hikes interest rates July 28, 2022 Cryptocurrencies prices climbed after the US Federal Reserve raised interest rates by 75 basis points for the consecutive second month to tackle high inflation. Bitcoin jumped 7.5 per cent to trade at $22,965.5 today while Ether soared 11.14 per cent to trade at $1,624.9 after being pummelled by the crypto crash and investor uncertainty. The [...]
Powell invokes Volcker spirit with second successive 75 point hike July 27, 2022 The US Federal Reserve today doubled down on its efforts to chase down the biggest inflation shock in recent memory by hiking rates 75 basis points for the second time in a row. Chair Jerome Powell and the rest of the federal open market committee backed another big rise to cool America’s overheating jobs market [...]
Cryptocurrencies continue to struggle July 27, 2022 In association with Luno. Bitcoin’s (BTC) recent strong momentum stalled in the middle of last week, and the price has been drifting back towards the $20k mark after hitting highs above $24k last week. The leading cryptocurrency by market capitalisation has hovered around $21k since Monday, down almost 10 per cent over the past 7 [...]
London markets jump ahead of expected big US Federal Reserve rate rise July 27, 2022 London markets shrugged off bets on the US Federal Reserve hiking rate steeply later today to jump during opening exchanges. The capital’s premier FTSE 100 index added 0.43 per cent to reach 7,337.93 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, increased 0.07 per [...]
London markets muted ahead of US Federal Reserve rate decision July 25, 2022 London markets were mixed today as traders brace for another potential rate bazooka from the US Federal Reserve on Wednesday. The capital’s premier FTSE 100 index edged 0.41 per cent higher to 7,306.30 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, dropped 0.11 per [...]
US Federal Reserve to back up monster rate hike with another 75 basis point move July 25, 2022 The US Federal Reserve will back up its monster rate rise last month with another big 75 basis point hike this week as it chases down scorching inflation across the pond. That’s according to Wall Street analysts, who think Fed chair Jerome Powell and the rest of the federal open market committee (FOMC) will need [...]
European Central Bank marks first rate rise in over a decade with shock 50 basis point move July 21, 2022 The European Central Bank (ECB) today marked its first interest rate rise in over a decade with a shock 50 basis point move. The biggest inflation surge in the eurozone since the creation of the single currency in 1999 forced President Christine Lagarde and co to launch the bigger hike. The Continent’s monetary authority has [...]
Time to pour cold water on the FUD and misinformation from Bitcoin doubters July 16, 2022 Crypto AM's Dr Chris Kacher thinks the heat needs turning down on the current crypto FUD spread that reminds him of 2014 and 2018.