Standard Chartered predicts $120K Bitcoin by the end of 2024, days after Hong Kong asked it to go pro-crypto
Standard Chartered has expressed confidence that Bitcoin will soar in price in 2024. It expects the coin to hit $50K in 2023 and $120K in 2024. Its analysis expects miners to hold more of their supply and fewer coins to be available in the market.
China reports flat CPI YoY and PPI fall by 5.4% in June
China has been one of the strongest economies in the world in the ongoing financial crisis, and it still sends relatively strong economic data. Its CPI remained flat in June, but the PPI has fallen to the lowest levels since 2016.
US Treasury Secretary Janet Yellen becomes second U.S. Cabinet member to visit China in a month
US’s Janet Yellen is in China for bilateral business talks as the relations between the two countries have become sour recently. Yellen is now the second member of the U.S. Cabinet to visit the Asian super economy in a month, among high-profile visitors who have been there for business purposes like Elon Musk and Apple’s Tim Cook.
Balaji Srinivasan: De-dollarisation is decentralization
Balaji Srinivasan has reflected on central banks buying gold as fiat money continues to weaken globally as economic factions grow, showing worrying times ahead that inflation may continue for a while longer. He claims that the cited central bankers are relocating funds from riskier investments as a strategy to brace against a de-dollarisation impact.
Adam Back: If an upgrade improves Bitcoin’s bandwidth, storage, and CPU cost of pool full nodes to be 10X higher than fullnodes while upholding security, its a yes
Adam Back is open to seeing Bitcoin get a network upgrade that could increase its bandwidth and storage and push the CPU cost of a pool (or solo/stratum v2) full nodes to be 10X higher than full nodes while ensuring that the Bitcoin validating nodes remain unaffected.
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Hot Stories
Hong Kong’s largest bank HSBC to offer Bitcoin and Ethereum ETFs to customers
Hong Kong spearheads crypto adoption in Asia as banks increasingly support the crypto industry. HSBC has now announced that it will offer customers Bitcoin and Ethereum ETFs.
Oil markets calm down after Russia’s coup attempt fails
Oil Markets have calmed down due to the brokerage of the peace deal between rebel Yevgeny Prigozhin, the head of the Wagner group, and President Putin. Prigozhin had led his army of mercenaries to the Russian capital in an attempt to eject President Putin for attacks on his men.
DeFi markets rises in the past 2 weeks owing to harsh regulation in the US
DeFi has seen a market cap spike of 15% in the past two weeks as the US and other global regulators are going harder after crypto organizations. The market capitalization has increased by $6.3 billion in the time frame from $41.5 billion to $47.8 billion.
Eurozone businesses start slowing in June owing to interest rate hike effects
Eurozone businesses are caught in a tight zone once more as high-interest rates haunt the economy. It is only expected to worsen from here, at least on a short to mid-term basis, as more hikes must be done to tame rising inflation. This means more pain will be felt in the markets even after the eurozone’s flash composite PMI dropped to 50.3 in June.
100K ChatGPT logins exposed to the Darkweb- cyber security firm
Concerns surrounding ChatGPT user credentials being leaked online and traded on the Darkweb are surfacing after a blog post by Singaporean cybersecurity firm Group-IB. The firm alleges that over 101K ChatGPT logins appear to have been stolen over the past year and traded over the dark web between June 2022 and May 2023.
The US Federal Reserve lied about banking system stability-Balaji Srinivasan
The US Federal Reserve is under fire again for lying about the general outlook of the US banking system to ‘assure’ investors and citizens that there are no risks. However, the data that is coming forward isn’t all merry. Observers have noticed that the authority is spending more money than previously projected to bail out financial institutions.