Market Console
Philippines Plans to Introduce Wholesale CBDC by 2029
Bangko Sentral ng Pilipinas (BSP) plans to introduce its wholesale central bank digital currency (CBDC) by 2029. The Philippine central bank’s CBDC initiative is near its proof-of-concept completion. “This is an innovative payment instrument,” said the BSP deputy governor. “This is an entirely new thing, and we have to make sure that we can offer […]
Study: AI Success in Africa Depends on Availability of Local Language Data and AI Talent
According to the latest Global System for Mobile Communications (GSMA) study report, the success of artificial intelligence (AI) in Africa hinges largely on the availability of local language data and addressing the AI skills gap. The report urges African countries to prioritize investment in domain-specific and local language data. It also recommends adopting participatory approaches […]
Fintech Company Tecban Pilots Tokenization Platform for Brazil’s Drex CBDC
Tecban, a fintech that provides interconnection technology for banks, has launched a tokenization and associated services platform called Nexchain. This platform facilitates the process of placing assets on the blockchain for third parties as part of the Drex pilot. The platform will be launched in tandem with the second pilot phase of the Brazilian CBDC, […]
Russia Advances Cryptocurrency Mining Bill
Russia’s State Duma has advanced a bill to regulate cryptocurrency mining, aiming to curb illegal activities and promote investment and employment. Proposed by the chairman of the Duma Committee on Financial Markets and supported by key deputies, the bill mandates strict guidelines for miners, including registration and government oversight. If passed, the law will take […]
BRICS Poised to Dominate World Bank and IMF, Says Russian Executive Director
The World Bank Executive Director for Russia forecasts that BRICS nations will soon dominate the World Bank and the International Monetary Fund (IMF), attributing this shift to inevitable macroeconomic and demographic changes away from Western dominance. He emphasized the importance of working patiently toward this goal and resisting provocations from those upholding the old global […]
BRICS Considers Iran’s Proposal to Link Payment Systems of All Member Countries, Says Russian Official
The BRICS economic bloc is considering Iran’s proposal to link all member nations’ payment systems, according to Russian Deputy Foreign Minister Andrey Rudenko. The proposal aims to enhance BRICS countries’ financial sovereignty by establishing a resilient and sanctions-resistant payment infrastructure. Discussions include integrating financial markets, payments in national currencies, and new mechanisms for mutual financial […]
Bitcoin Investors Won’t Sell BTC Even if Price Drops to $3K, Peter Schiff’s Poll Shows
Gold advocate Peter Schiff has conducted two polls regarding bitcoin’s value and investors’ actions if the crypto’s price falls significantly. Despite his consistent criticism of bitcoin, the majority of respondents expressed strong commitment to holding their BTC even if the price drops drastically. Schiff maintains that bitcoin’s value proposition is flawed and anticipates a significant […]
Michael Saylor: US Government Should Own Majority of Bitcoin in the World
Michael Saylor, executive chairman of Microstrategy, believes the U.S. government should hold the majority of the world’s bitcoin, arguing this would strengthen the U.S. dollar. Drawing parallels to historic acquisitions, he views bitcoin as a critical asset for the future. Saylor emphasized: “The country gotta look to the future, and the future of the country […]
Tesla's bleak margins sink shares as Musk hypes everything but cars
Tesla shares tumbled 12% on Wednesday, evaporating almost $100 billion in stock market value after CEO Elon Musk's talk of ...
Tesla Inc. stock falls Friday, underperforms market
Shares of Tesla Inc. slid 0.20% to $219.80 Friday, on what proved to be an all-around positive trading session for the stock ...
Tesla’s latest earnings expose chronically weak profitability and an inflated share price
Tesla's share price makes sense only if you believe that Elon Musk's company will make huge riches from something other than ...
US indicts Andrew Left in $16 mln stock market manipulation scheme
A federal grand jury has indicted prominent activist short seller Andrew Left on multiple counts of securities fraud for a ...
Misinformation and the Stock Market: Will AI Raise the Risk to Investors?
As AI proliferates as a revolutionary tool in the financial world, concerns over misinformation are also rising.
What Comes Next After the Stock Market’s Rotation. The ‘Exhaustion’ Factor.
Rate cuts, earnings, and the economy will determine whether the S&P 500 and small-cap Russell 2000 sink or soar ...
Zimbabwe Injects $50M in Forex Market to Stabilize Currency
Zimbabwe’s central bank, the Reserve Bank of Zimbabwe (RBZ), has injected over US$50 million into the interbank foreign exchange market to stabilize the economy. This move comes as the parallel market exchange rate is significantly higher than the official rate, causing economic instability. The RBZ aims to increase foreign currency supply, reduce pressure on banks, […]
Key U.S. Senate Republican Tim Scott Makes Crypto-Fan Debut
<div>U.S. Sen. Tim Scott (R-S.C.), the top Republican on the Senate Banking Committee who may be in position to be its next chairman, argued at a Bitcoin 2024 appearance on Friday that the government should "make it easy" for the crypto industry to innovate in the U.S.</div>
Polymarket Bettors Predict 84% Chance of Trump-Harris Debate Before Election
According to the blockchain-based prediction market Polymarket, there is an 84% likelihood that former President Donald Trump and current Vice President Kamala Harris will debate before the election. Trump has shown hesitation to debate Harris until her official nomination, citing significant confusion within the Democratic party. High Stakes: $142,846 Wager on Trump-Harris Debate Before Election […]
Salvadoran Basic Goods Basket Rose to Historic Highs in June
The price of the Salvadoran basic goods basket, a group of foods and vegetables considered essential, rose to all-time high levels in June. The increase was pushed due to the price hikes in vegetables, going over the $260 barrier and reaching $262.17. President Bukele recently expanded the action of the Farmers’ Markets and slashed import […]
Trump Speaks Saturday at the Bitcoin Conference. Here's What Attendees Like 'The Crypto Patriot' Hope He Says
Donald Trump (Brandon Bell/Getty Images)
Bitcoin to Account for 7% of Global Wealth, Surge in Price to $13M in 21 Years: Michael Saylor
<div>The Executive Chairman of MicroStrategy spoke Friday at Bitcoin 2024.</div>