Bitcoin News and Finance: What You Need to Know

According to a recent study by Clever, a real estate data company, nearly three out of four Americans worry there will be a recession this year, and 69% of the research participants say the U.S. is already in a recession. What’s worse, 55% of the study’s respondents said they would lose everything if a recession in the United States came to fruition. Survey Shows Americans Have a Gloomy Economic Outlook After the Federal Reserve’s recent rate hike and the inflation data from the U.S. Department of Labor that followed, investors and analysts are uncertain about what will happen to the economy in 2023. However, many expect a recession. A recent study by the real estate data firm Clever polled a group of 1,000 Americans and asked 21 questions about the U.S. economy. Clever’s report shows that one in five U.S. residents considers the economy the most pressing issue today, while 43% of those surveyed rank it within the top three most pressing issues. Clever’s study shows that two ou...

German conglomerate Siemens has for the first time issued a blockchain-based digital bond denominated in euros. In an announcement, the corporation highlighted the benefits of using blockchain, including the opportunity for direct sale to investors. Digital Bond Issued Under Germany’s Electronic Securities Act The largest industrial manufacturer in Europe, Siemens, announced it has become one of the first companies in Germany to issue a digital bond in accordance with the country’s Electronic Securities Act which came into force in June, 2021. The €60-million bond ($64 million) has a maturity of one year and is based on a public blockchain, that of Polygon, according to crypto media reports. Announcing the deal on Tuesday, Siemens emphasized certain advantages of employing a blockchain platform over traditional methods: For instance, it makes paper-based global certificates and central clearing unnecessary. What’s more, the bond can be sold directly to investors without needing a...

Warren Buffett’s right-hand man and the vice chairman of Berkshire Hathaway, Charlie Munger, says people who oppose banning cryptocurrencies are “idiots,” adding that it’s “just ridiculous” anybody would buy crypto. He also likened replacing national currencies to replacing air, stating that “It’s massively stupid.” Berkshire Vice Chair Charlie Munger Says Replacing National Currencies Is Like Replacing Air Berkshire Hathaway Vice Chairman Charlie Munger continued his insults against cryptocurrency and its supporters Wednesday during a live-streamed interview with CNBC at the Daily Journal’s annual shareholders meeting. Referencing his recent opinion piece in the Wall Street Journal stating that cryptocurrency should be banned , the 99-year-old executive insisted there is no “rational” argument against his position of banning crypto. He opined: I think the people that oppose my position are idiots … It’s just ridiculous that anybody would buy this stuff. “You can think of hardl...

U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler has proposed amending federal custody rules to cover “all crypto assets.” The SEC chief said: “Though some crypto trading and lending platforms may claim to custody investors’ crypto, that does not mean they are qualified custodians.” Gary Gensler Proposes Including Crypto in Expanded Custody Rules The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, announced Wednesday that he has proposed changes to federal regulations “to expand and enhance the role of qualified custodians.” All asset classes, including crypto, would be included in the expanded custody rules under his proposal, and companies offering crypto custody services to their clients will be required to obtain registration. Gensler emphasized: Today’s proposal, in covering all asset classes, would cover all crypto assets. The SEC chairman proceeded to highlight four key proposed changes to the existing regulations. Firstly,...

Rightfulshare, an income equality advocacy movement, recently said it has launched what it describes as the “first unconditional” crypto universal basic income (UBI) transfer. According to Karen Jooste, the crypto UBI not only expands the possibilities for unemployed South Africans but also nurtures their entrepreneurial spirit. Fairer Income Access Rightfulshare, a movement advocating for equality, recently said it had sent its “first unconditional” crypto UBI transfer to a local entrepreneur residing in South Africa. According to the movement’s Jan. 31 press release , selected beneficiaries will receive the crypto UBI “in Gooddollar to use as they choose.” Also, in the statement, Rightfulshare touted the launch as a pioneering step that channels “both resources and Web3 solutions to a small town in the country.” Commenting on the launch, which has been described as “a pioneering step for fairer income access,” founder of Rightfulshare Karen Jooste claimed that the launch not on...