Author: Atis. Sh

US Senator Elizabeth Warren spearheaded a coalition of over 100 legislators in penning a serious letter to the White House. Addressed to Treasury Under Secretary for Terrorism and Financial Intelligence Brian Nelson and National Security Advisor Jake Sullivan, the letter delves into crypto’s role in fueling terrorism. Notably, Elizabeth Warren was the primary author of this stark letter, which garnered signatures from 28 other senators and 76 House members. Citing a Wall Street Journal article, the authors underscore the claim that between August 2021 and June 2023, Hamas and the Palestinian Islamic Jihad accumulated a staggering $130 million in crypto…

Throughout history, civilizations have experienced both prosperous and challenging times. From natural calamities to wars, periods of instability have often disrupted progress. Currently, we find ourselves in a challenging era marked by global conflicts and the aftermath of a major pandemic. As a result, economies are feeling the strain, and the financial stability of many is at risk. When we examine the value of the US federal minimum wage over the past century, an alarming trend emerges. According to Statista Research Department, the real purchasing power of 2023’s minimum wage is about 40% lower than it was in 1970. While…

In a world increasingly enamored by cryptocurrencies, the auto industry is no exception to the allure. The buzz was that Honda had joined the crypto wagon and was accepting digital currencies as a payment option for its cars. However, Honda itself has dispelled these rumors. As it turns out, while there is an option to pay for a Honda vehicle using cryptocurrencies, it’s not directly through Honda but rather through a third-party service, FCF Pay. American Honda was quick to clarify its stance. A spokesperson from the company emphasized, “The recent reports stating that we accept cryptocurrencies are incorrect. Our…

In a whirlwind of speculation and drama, Bitcoin soared from $27,000 to $30,000 in mere minutes. Undoubtedly, this volatility was fueled by a now-debunked report from CoinTelegraph, stating that BlackRock’s Bitcoin ETF had secured SEC approval. The news spread like wildfire, causing a seismic shift in market sentiment. Within no time, leading media outlets like Reuters also echoed this groundbreaking announcement. However, the euphoria was short-lived. Soon after, the claim was debunked, sending Bitcoin tumbling back down to $28,000. Interestingly, this frenzy liquidated over $71 million in Bitcoin leveraged positions and more than $15 million in Ethereum leveraged positions. Bloomberg…

In a groundbreaking initiative set to democratize the real estate market, the Moscow Stock Exchange is laying the groundwork to launch Digital Financial Assets (DFAs) for real estate in 2024. The announcement comes from Sergei Kharinov, the exchange’s director of digital assets, and promises to drastically lower the barriers to entry for would-be real estate investors. These DFAs are essentially tokenized versions of real-world assets, in this instance, real estate properties. Interestingly, they’re recorded as program code on a blockchain, bringing the sophistication of distributed ledger technology to an otherwise traditional marketplace. Unlike regular stocks or bonds, DFAs come with…

In the aftermath of last weekend’s attacks by Hamas on Israel, a critical question has emerged: how did the militant group manage to fund its operations? Remarkably, cryptocurrencies have been highlighted as a pivotal element in their financial strategy. According to Israeli seizure records and blockchain analytics, Hamas, along with Palestinian Islamic Jihad (PIJ) and Hezbollah, garnered substantial funds through cryptocurrencies. Specifically, Hamas pocketed approximately $41 million in cryptocurrency over the last two years, based on data from Tel Aviv-based analytics firm BitOK. Intriguingly, this modern form of financing has managed to evade the traditional monetary system, which is laden…

Ferrari NV has greenlighted cryptocurrency as a payment method for its iconic sports cars. Initially, the feature is available to U.S. customers, with the Italian automaker planning to extend this option to Europe by the first quarter of 2024. In an interview, Ferrari’s Chief Marketing and Commercial Officer, Enrico Galliera, divulged that the company is also mulling over introducing crypto payments in other jurisdictions where it is legally sanctioned. Furthermore, transactions can be made in Bitcoin, Ethereum, and USDC without any additional fees, thanks to the integration with crypto payment processor BitPay. The Tesla Effect and Environmental Concerns Interestingly, this…

In an epoch-making fireside chat at Bitcoin Amsterdam 2023, President Miguel Albuquerque of Madeira and Prince Filip of Serbia uncorked a headline-grabbing revelation. With palpable excitement, President Albuquerque announced the launch of a Bitcoin business hub in Madeira, a move that is set to reposition the region as a cornerstone of digital innovation. Moreover, the association has been created to spearhead the growth of both Bitcoin and technology-related activities, with a warm invitation extended to anyone wishing to collaborate. Prince Filip, who serves as the Chief Strategy Officer at Jan31 and is a notable Bitcoin enthusiast, commended Madeira for its…

The UK Metro Bank has successfully negotiated terms with key investors, offering a glimmer of optimism amid recent financial uncertainties. The finalized agreement, revealed on Sunday, unveils a £325mn capital boost, comprising £150mn of novel equity primarily from Metro’s predominant stakeholders, and a supplementary £175mn from new bondholder debt. For Context: UK Metro Bank Stock Crashes Even Lower A New Chapter: Investor Commitment & Share Rebound Spearheading this influx of equity, Colombian magnate Jaime Gilinski Bacal has committed an impressive £102mn. Consequently, Bacal is poised to emerge as Metro’s principal shareholder, a strategic move considering his successful history of revitalizing…

Denis Beau, the first deputy governor of Banque de France, has recently voiced his support for Central Bank Digital Currencies (CBDCs), emphasizing their potential as the cornerstone of a revamped global monetary system. Instead of merely mimicking fiat or facilitating local settlements, Beau suggests that CBDCs could revolutionize cross-border payments. “CBDCs,” the French deputy governor states, “are the catalyst for improving cross-border payments by enabling the build-up of a new international monetary system.” The perspective shared by the bank’s executive aligns with that of his peers, all of whom advocate for the CBDC. However, Beau underscores the need for defining…