At the Sohn Investment Conference held in San Francisco in 2023, seasoned hedge fund manager Stanley Druckenmiller raised concerns about the U.S. economy. While others may be optimistic about a “soft landing,” Druckenmiller predicts a “hard landing” instead. He cited the recent banking industry turmoil and the sharp drop in consumer spending as key factors
Bitcoin
The new BRC20 token economy, which is built on top of the Bitcoin blockchain, has experienced a significant surge in growth in the past five days. As of May 11, the total market valuation of the BRC20 token economy has reached $427 million, which marks a 53% increase since May 7. The number of BRC20
On Thursday, the Ethereum blockchain encountered a 25-minute halt in processing ETH transactions and achieving consensus. Ansgar Dietrichs, a researcher at the Ethereum Foundation, stated that the beacon chain had a brief period of non-finalization, which highlights the robustness of the chain. Despite the slowdown of blocks, transactions continued to be processed as usual. Prysmatic
On May 11, 2023, a vintage wallet created on June 19, 2011, relocated 139.7 BTC, worth $3.7 million at the time of transfer. This activity was flagged by Btcparser.com and confirmed at block height 789,291 at 8:14 p.m. (UTC). The wallet that received the transfer still holds the funds as of May 12, 2023, at
The International Monetary Fund (IMF) has cautioned that a US default on its debt obligations could have severe consequences for both the American and global economies. During a press briefing, IMF Director of Communications Julie Kozack expressed concern over the current debt ceiling crisis that is taking place between the White House and Congress. She
China, one of the biggest economies in the world, has recently reported its lowest inflation numbers in over two years. According to data from the National Bureau of Statistics (NBS), the Consumer Price Index (CPI) increased by 0.1% year-over-year, which is a significant drop from the 0.7% registered in March. The decline in prices was
According to the European Central Bank’s (ECB) latest Consumer Expectations Survey (CES), Europeans believe that inflation will be around 5% over the next 12 months. This marks a significant increase from the previous month’s median expectation of 4.6%. The poll, which surveyed 14,000 consumers aged 18 and over from six euro area countries, was conducted
Late on Wednesday, Bitcoin (BTC) briefly dropped below $27,000, as markets reacted to the latest U.S. inflation report. After reaching an earlier high of $28,322.69, BTC/USD slipped to an intraday low of $26,883.67 towards the close of yesterday’s session. This move saw bitcoin drop to its weakest point since March 28, when the price was
The International Monetary Fund (IMF) has advised Zimbabwe to consider the potential risks to its economy before issuing a gold-backed digital currency. Zimbabwe’s central bank recently began circulating gold-backed digital coins in an effort to curb local demand for US dollars, which has caused the Zimbabwean currency to lose value. Liberalisation of foreign exchange market
Donald Trump, the former President and potential 2024 Republican presidential candidate, has advised Republican lawmakers to let the United States default on its debt obligations if Democrats do not agree to spending cuts. During a televised CNN Town Hall on Wednesday, Trump advised Republican congressmen and senators to demand massive spending cuts, saying that they