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Chair of EU Parliament’s Committee on Budgets Calls for Crypto Ban Amid Banking Turmoil

March 19, 2023 0

A European lawmaker has urged authorities to impose a ban on cryptocurrencies citing the current crisis in the banking sector as a reason. Johan Van Overtveldt, former finance minister of Belgium, believes these assets bring no economic or social value. Belgium’s Ex-Finance Minister Suggests

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Major Cryptocurrency ATM Manufacturer General Bytes Hacked, Over $1.5M in Bitcoin Stolen

March 19, 2023 0

General Bytes experienced a security incident on March 17 and 18 that enabled a hacker to remotely access the master service interface and send funds from hot wallets, according to the company and sources. The breach forced a majority of U.S.-based crypto automated teller machine (ATM) operators to temporarily shut down. The hacker was able […]

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Mike Novogratz Warns of Credit Crunch in US and Globally — Expects Fed to Cut Rates ‘Sooner Than We Think’

March 19, 2023 0

Galaxy Digital CEO Mike Novogratz has warned of a credit crunch in the U.S. and globally. Emphasizing that “we are heading into a recession,” he expects the Federal Reserve to cut interest rates “sooner than we think.” Novogratz on Global Credit Crunch and Recession Galaxy Digital CEO Mike Novogratz shared his outlook for the U.S. […]

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Economist Peter Schiff Expects Worse Financial Crisis Than 2008 — Says ‘Future Rate Hikes Are Now Pointless’

March 19, 2023 0

Economist Peter Schiff has warned that the current financial crisis will be worse than in 2008. “Future rate hikes are now pointless,” he stressed, adding that any effect will be more than offset by the Fed’s quantitative easing. Peter Schiff’s Financial Crisis Warning Economist and gold bug Peter Schiff shared his outlook for the U.S. […]

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Balaji Srinivasan Says Hyperinflation Happening Now — Makes Million-Dollar Bets on Bitcoin Price Exceeding $1M in 90 Days

March 19, 2023 0

Venture capitalist and angel investor Balaji Srinivasan says hyperinflation is happening now. Expecting the price of bitcoin to soon hit $1 million, he is making million-dollar bets that it will happen in 90 days. Srinivasan also advised investors to buy bitcoin, which he believes to be “a hedge against hyperinflation, monetary debasement, bank freezes, and […]

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Blackrock CEO Warns More Bank Seizures and Shutdowns Could Result From Regulatory Changes

March 18, 2023 0

The CEO of Blackrock, the world’s largest asset manager, has warned about additional bank seizures and shutdowns that could result from regulatory changes in response to the failures of several major banks in the U.S. “It does seem inevitable that some banks will now need to pull back on lending to shore up their balance […]

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UBS Considers Acquiring Credit Suisse, Requests Government Backstop in Deal

March 18, 2023 0

After Credit Suisse Group AG announced it would borrow 50 billion Swiss francs from the Swiss National Bank, UBS Group AG is reportedly considering acquiring the banking giant. However, UBS is requesting that the government issue a backstop to protect against any losses if it purchases Credit Suisse. According to unnamed sources familiar with the […]

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Analysts Suspect Banking Crisis Triggered ‘Resting Bull Market’ in Gold, Silver Could Print Much Higher Gains

March 18, 2023 0

At the start of the week, a troy ounce of .999 fine gold was trading at $1,813 per unit. Seven days later, gold rose 9.65% against the U.S. dollar to the current spot price of $1,988 per ounce. Gold’s rise comes at a time when confidence in the global banking system is at an all-time […]

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Elon Musk Criticizes Federal Reserve’s Data Latency and Calls for Immediate Rate Drop Amidst Banking Chaos

March 18, 2023 0

Amidst the chaos in the U.S. banking sector, Elon Musk, the CEO of Tesla and owner of Twitter, has been critical of the country’s central bank. Musk insists that the U.S. Federal Reserve is operating with “way too much latency in their data,” and he insists that the central bank needs to drop the federal […]

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FTX Debtors Reveal $6.8 Billion Hole in Balance Sheet Amidst Financial Discrepancies and Payments to Insiders

March 18, 2023 0

According to a presentation recently submitted by the FTX debtors on March 16, Sam Bankman-Fried’s companies had a $6.8 billion hole in their intercompany balance sheet when they filed for Chapter 11 bankruptcy protection. FTX and its conglomerate of firms have debts of around $11.6 billion, including customer claims and various other liabilities. FTX’s $6.8 […]