Bitcoin News and Finance: What You Need to Know

U.S. President Joe Biden has shared his perspective on inflation. “I am more optimistic than I’ve been in a long time,” he said, noting that inflation has not spiked for several months. Many people disagree with Biden, with one saying that “families are poorer than when he took office.” US President Joe Biden’s Views on Inflation and the U.S. Economy U.S. President Joe Biden discussed a wide range of topics, including the U.S. economy and inflation, in an interview with 60 Minutes, aired Sunday. He was asked what he can do better and faster given that the annual inflation rate of 8.3%. Biden replied: First of all, let’s put this in perspective. Inflation rate, month-to-month, was up just an inch, hardly at all. Noting that he’s not arguing that 8.3% inflation is good news, Biden stressed: “It was 8.2% before.” While acknowledging that the inflation rate is the highest in 40 years, the president said: “Guess what we are, we are in a position where for the last several months it ...

The crypto asset exchange Wazirx is following Binance’s move by delisting a number of stablecoins and automatically converting them to BUSD at a 1:1 ratio. Wazirx customers have until September 23 to withdraw their stablecoins if they don’t want the funds converted. Wazirx Plans to Drop 3 Stablecoins and Auto-Convert Them to BUSD by October 5 During the first week of September, the world’s largest crypto exchange by trade volume, Binance, revealed it would be dropping a number of stablecoins. Binance also noted at the time, that customers had a certain period of time to withdraw the stablecoins or the funds would be automatically converted to BUSD. On September 19, 2022, the cryptocurrency exchange Wazirx said it would no longer support deposits for USDC, TUSD, and USDP. The announcement published on Monday details that customers can still withdraw the aforementioned stablecoins but only until Friday, September 23. Wazirx will “support withdrawals of USDC, USDP, and TUSD till 5 ...

While Nigeria’s year-on-year inflation rose for the seventh straight month to 20.52% in August 2022, the latest data from Nigeria’s National Bureau of Statistics shows that the month-on-month rate declined from 1.82% to 1.77% during the same period. The depreciation of the local currency, disruptions in the supply of food products, and an increase in the costs of production are said to be the factors behind the latest increase. Currency Depreciation Driving Inflation According to the latest data from Nigeria’s National Bureau of Statistics (NBS), the West African country’s headline inflation for the month of August 2022 topped 20.52%. The latest rate is 3.51 percentage points higher than the 17.01% recorded in August 2021. With this latest surge, Nigeria has now seen its year-on-year (YoY) inflation increase for the seventh consecutive month. According to the statistical body, the depreciation of the local currency is one of the main factors that caused the YoY inflation rate to ...

Between September 2021 and mid-June 2022, Samsung invested in 13 crypto/blockchain companies thus making the South Korean corporation the most active among the top 40 corporations. Google’s parent Alphabet firm, on the other hand, tops the category of top corporations that participated in the biggest funding rounds. 40 Corporations Invest $6 Billion According to the research firm Blockdata’s analysis of investments in blockchain and crypto startups by top corporations between September 2021 and mid-June 2022, the South Korean electronics giant Samsung was the most active having invested in 13 companies. United Overseas Bank, which invested in 7 companies is the next most active and is closely followed by two American financial services giants Citigroup (6) and Goldman Sachs (5). As shown by the analysis , the number of crypto or blockchain startups funded by Samsung, United Overseas Bank, Citigroup and Goldman Sachs in the period under review is nearly half (31) of the total numbe...