After integrating with DeFi major Aave, Lido saw leverage kick up a gear and nudged some larger players to unwind. But plenty of people didn’t.
CoinDesk
Germany’s Finance Chief Joins Slew of Financial Leaders Scoffing at Libra
Germany joined the chorus of countries offering stiff resistance to Libra, Facebook’s new digital coin. German Finance Minister, Olaf Scholz, expressed concerns about the coin’s consumer privacy issues and potential for disruption. Reuter’s released a report which quoted him saying, “The issuance of a currency does not belong in the hands of a private company […]
The post Germany’s Finance Chief Joins Slew of Financial Leaders Scoffing at Libra appeared first on CCN Markets
UK Finance Chief Ready to Engage with ‘Potentially Transformative’ Libra
The UK is studying the properties of Libra in-depth to prevent the digital currency from damaging the economy. This is what Philip Hammond, Chancellor of the Exchequer of the United Kingdom, said in a recent interview with CNBC’s Squawk Box. Hammond explained that regulators must fully understand how Libra works to counter the risks associated […]
The post UK Finance Chief Ready to Engage with ‘Potentially Transformative’ Libra appeared first on CCN Markets
How US ‘Keep Big Tech Out of Finance’ Draft Bill Targets Facebook’s Libra
Facebook’s digital currency plans have caused concern among bureaucrats worldwide and members of the U.S. government seem fearful of a giant tech establishing itself as a financial institution. Prior to the U.S. congressional hearings and the upcoming G7 finance meeting, a U.S. discussion draft bill, the Keep Big Tech Out of Finance Act, hopes to stop large tech corporations from “maintaining, or operating a digital asset.”
Also read: How 10 Countries Respond to Facebook’s Libra Cryptocurrency
Finance Professor Says Stock Market Is Cheap. Here’s Why He’s Wrong
Jeremy Siegel, a normally astute finance professor from the University of Pennsylvania, told CNBC that he thinks the stock market has another 5 percent to 6 percent upside to reach fair value. He’s out of his mind. “I think fair market value does give us another 5%, 6% this year, but we may go up […]
The post Finance Professor Says Stock Market Is Cheap. Here’s Why He’s Wrong appeared first on CCN Markets
Facebook’s Crypto Libra Shouldn’t Become Sovereign Currency, Blasts French Finance Minister
By CCN Markets: Facebook’s unveiling of Libra, its cryptocurrency project coming in 2020, has caught the attention of many, including the French Finance Minister. Bruno Le Maire, speaking on French Radio, has said that this new cryptocurrency cannot operate as a sovereign currency. Facebook’s Libra project intends to introduce a digital currency for usage on its platforms. However, this is raising several economic issues. Concerns on its regulation, and the status of this currency, are up for debate with Le Maire giving some stern warnings. Stern Libra warning With its reach of over 2.3 billion users, Facebook’s cryptocurrency could well call
Bitfury, Tech Firm Mphasis Plan Blockchain Disruption in Trade Finance
Blackstone-owned IT firm Mphasis has partnered with blockchain tech firm Bitfury to automate and tokenize trade finance processes.
CoinDesk
Yahoo Finance Bumps Cardano Creator for More Lyft IPO Coverage
Charles Hoskinson, the co-creator of both Cardano (ADA) and Ethereum (ETH), had a humbling Friday in New York City. The journeyman traveler, who commonly documents his trips around the world on social media, was all set to go live for an interview with Yahoo Finance, as part of a larger NYC media tour. However, Hoskinson […]
SludgeFeed
IHS Markit report: finance industry blockchain sector to hit $462 billion by 2030
London, UK-based business information provider IHS Markit announced in a press release it sent to CoinReport the finding of its report, “Blockchain in Finance,” saying the value of blockchain in the global financial sector is estimated to reach $ 462 billion by 2030, thanks to the projected increase …
The post IHS Markit report: finance industry blockchain sector to hit $ 462 billion by 2030 appeared first on CoinReport.
The Finance Prof. Who Says Bitcoin’s Going to ‘Bite The Dust’ Is Wrong
By CCN.com: Kevin Dowd is a Professor of Finance and Economics in the Business School at Durham University, Northeast England, and the co-author of the 2015 paper “Bitcoin Will Bite the Dust,” along with market analyst and author, Martin Hutchinson, for the libertarian Cato Institute in Washington DC. CoinDesk published an op-ed by Dowd Monday,
The post The Finance Prof. Who Says Bitcoin’s Going to ‘Bite The Dust’ Is Wrong appeared first on CCN
Thai Finance Ministry Awards Licenses to 4 Crypto Firms, Rejects 2
Thailand’s Ministry of Finance has granted digital asset business licenses to four crypto firms, while rejecting two others.
CoinDesk
European Finance Regulators Call for Bloc-Wide Crypto Rules
Two top European finance regulators, the EBA and the ESMA, have separately said today that cryptocurrency and ICO rules are needed at the EU level.
CoinDesk
Venezuela Wants to Use Petro to Finance Large Housing Program
Completing a project to build 3 million homes for its suffering population is the next big initiative Venezuela wants to finance with its digital currency, the petro. The socialist government in Caracas says there is enough money and materials to fulfill the main objective of the “Great Housing Mission.”
Also read: Crypto-Friendly Statesman Takes Over Swiss Presidency
Minister Urges Construction Companies to Accept Petro
The Venezuelan Ministry of Housing is now joining forces with other government institutions to revive a state-sponsored program focused on the building of new apartment blocks for the masses. The leftist administration of President Maduro hopes to boost Gran Misión Vivienda Venezuela (GMVV) using the oil-backed national cryptocurrency, the petro.
Chinese Bank Giants Tap Blockchain in Trade Finance Efficiency Boost
The China Banking Association, the country’s self-regulatory organization for the banking sector, has launched a new blockchain-based platform for trade finance.
CoinDesk
Stock Market Will Have ‘Good Year’ in 2019: Wharton Finance Prof.
While the US stock market continues to struggle as a result of various institutional and political forces, Jeremy Siegel, professor of Finance at the University of Pennsylvania’s Wharton School of Business, remains optimistic about the state of the market in 2019. Speaking in an interview on CNBC’s Squawk on the Street, Siegel predicted that equity
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No Investment Strategies Are Worse Than Cryptocurrencies – Professor of Finance
Hopeful about the recent surge in bitcoin price? Expectant about the entrance of Bakkt and the possibility of 2019 being the year of (real) institutional investment? Then don’t read this article. According to these experts, economists, finance professors, miners, and developers, Bitcoin is on its way out – and will soon be as redundant as
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Korea Institute of Finance Director: Crypto Custody is Key in Rapid Growth
Gong-pil Choi, the director of the Korea Institute of Finance, said that custody in crypto is crucial in eliminating hacking fears and facilitating the growth of the market. The Korea Institute of Finance, an agency that works with the government to research and evaluate financial policies to bolster the country’s financial sector, has emphasized that
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‘Worthless’ Bitcoin Has Entered Death Spiral: Finance Professor
Earlier this year, with the bitcoin price trading around $ 7,000, Santa Clara University Professor of Finance Atulya Sarin published an opinion piece arguing that the rising cost of crypto mining, coupled with the ability for bearish investors to short bitcoin in the futures markets, could spell doom for the flagship cryptocurrency. Now, following a further
The post ‘Worthless’ Bitcoin Has Entered Death Spiral: Finance Professor appeared first on CCN
ISIS Recruit who Used Bitcoin to Finance Terror Group Could get 20 Years in Jail
A Pakistani-American woman who bought bitcoin and other cryptocurrencies using fraudulently obtained credit cards before wiring the funds to ISIS has pled guilty to charges of offering financial support to a terrorist organization. According to court filings, Zoobia Shahnaz made a couple of wire transactions last year to fronts for the Islamic terror outfit ISIS
The post ISIS Recruit who Used Bitcoin to Finance Terror Group Could get 20 Years in Jail appeared first on CCN
Malaysia’s Finance Minister: Crypto Regulation to be Enforced in Q1 2019
Malaysian Finance Minister Lim Guan Eng has revealed that a new set of comprehensive regulations guiding the activities of crypto exchanges and ICOs will come into effect in Q1 2019. Speaking in Kuala Lumpur on Wednesday at the FinTech Conference 2018 organised by Malaysia’s Securities Commission, he revealed that the new regulations are part of
The post Malaysia’s Finance Minister: Crypto Regulation to be Enforced in Q1 2019 appeared first on CCN
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