Fed Begins to Taper QE- US Central Bank Removes $351 Billion in Liquidity via Reverse Repos

After pumping extreme amounts of liquidity into markets, the U.S. Federal Reserve seems to be tapering back monetary easing policy via reverse repos (RRP). Following this week’s published minutes report from the Fed’s April monetary policy meeting, it seemed as though members of the central bank were prepared to discuss rolling back large-scale Treasury and mortgage-backed securities (MBS) purchases. This week, during a three-day period, the U.S. central bank removed $351 billion in liquidity according to reports. Fed Removes $351 Billion in Liquidity from Market via Overnight RRP Operations Last…

Read More

Nigerian Crypto Exchange Boss: CBN Directive Led Shift of Trades From Centralized Exchanges to Black Market Exchanges

It has been more than six months since the Central Bank of Nigeria (CBN) directed banks to stop serving customers from the cryptocurrency industry. While the measure appears to have succeeded in removing crypto entities from the banking ecosystem, the policy has however led to the growth of peer-to-peer trading. ‘Central Bank of Nigeria’s Actions Led to an Increase in Activity on the Black Market’ As some reports have shown, Nigeria’s position as the biggest cryptocurrency market in Africa remains unchallenged. For its part, the CBN has complemented its regular…

Read More

Ukrainian President Signs Law Opening Door for Digital Hryvnia, Regulatory Sandbox

President Volodymyr Zelensky has signed a law that will allow the National Bank of Ukraine to issue its own digital currency. The new legislation, which aligns Ukrainian regulations with EU rules, will also stiffen authentication requirements for clients of payment service providers. New Legislation Allows Ukrainian Central Bank to Issue Digital Currency The President of Ukraine Volodymyr Zelensky has signed the law “On Payment Services” which was adopted by the Ukrainian parliament on June 30, the president’s administration announced this week. The legislation aims to “modernize and further develop” the…

Read More

Antier Solutions’ Crypto Exchange Script Solutions Helping Businesses to Reduce Their Time-to-Market by 50%

PRESS RELEASE. Antier Solutions, a blockchain development company recognized for its end-to-end solutions, is offering crypto exchange script to expedite the development and deployment of crypto exchange platforms by 50%. Given the cut-throat competition to tap into the billion-dollar crypto market, Antier’s cryptocurrency exchange script solutions help start-ups and enterprises to quickly launch their exchange platforms and take the lead. “The crypto market is highly volatile; businesses need solutions that can help them quickly enter the market, especially when the market is favorable. This has catapulted the demand for cryptocurrency…

Read More

India Reportedly Investigating Binance in Chinese Money Laundering Case

Indian authorities are reportedly investigating cryptocurrency exchange Binance in connection with an ongoing Chinese money laundering case that raked in more than 10 billion rupees ($134 million). Binance’s Regulatory Troubles Continue India is reportedly investigating whether the global cryptocurrency exchange Binance had any role in a Chinese money laundering scheme involving betting apps, local media reported Friday, citing people with knowledge on the matter. The country’s Enforcement Directorate (ED), a law enforcement agency under the Ministry of Finance, has summoned Binance’s executives for questioning, according to the people who asked…

Read More

Shark Tank’s Kevin O’Leary Won’t Invest in Dogecoin, Says ‘I Don’t Understand Why Anybody Would’

Shark Tank star Kevin O’Leary, aka Mr. Wonderful, says he does not consider dogecoin an investment. “I don’t participate in that kind of thing. I don’t understand why anybody would,” he said. Kevin O’Leary Won’t Invest in Dogecoin Shark Tank star Kevin O’Leary talked about the meme cryptocurrency dogecoin in an interview with CNBC last week. The chairman of O’Shares ETFs said: I don’t participate in that kind of thing. I don’t understand why anybody would, but that’s their own choice. He explained that investing in dogecoin is like gambling…

Read More

Biden’s model pre-K system becomes ‘a crisis’ in New Jersey

TRENTON, N.J. — New Jersey has spent more than two decades — and many billions of dollars — building a high-quality, free universal pre-K system to serve all needy kids in the state. It’s won widespread acclaim. And President Joe Biden’s administration wants to make it a model for the nation. But the program has an accountability problem. In Trenton, the state’s capital and one of its poorest cities, private pre-K providers have long complained of “political favoritism” and a state Department of Education unwilling — or unable — to…

Read More

Opinion | What I Learned Talking to Fourth-Graders About How to Design Elections

At first, I was simply terrified to visit the class. In my day job, I’m an election law professor, but for an hour last year I was an elementary school teacher. That seemed much harder. My fourth grade daughter had told her teacher that our family dinner conversations often revolved around the contentious 2020 election. So, the teacher sent me an invitation: Would I come discuss constitutional law and voting rights with a group of 9- and 10-year-olds? Normally, I teach these topics to law students, who can engage with…

Read More

Trump political groups raised $82M in first half of 2021

Former President Donald Trump’s political committees raised $82 million during the first half of 2021 and have $102 million in the bank, according to federal filings to be made public Saturday evening. The figures, shared first with POLITICO, underscore the profound reach of Trump’s fundraising power. While the former president is out of office and has been deplatformed on social media sites, he maintains a massive online donor network that he could lean on should he wage a 2024 comeback bid. The scenario is virtually unprecedented: Never in history has…

Read More

Big Investors Are Pushing up Valuations of Crypto Firms

Venture capital firms and large investors are driving up the prices of crypto startups. Boutique investment firms and family offices are being elbowed out by big venture capital firms, private equity funds, and even some pension funds. VC Firms Driving Up Prices of Crypto Startups Cryptocurrency firms are seeing high valuations due to large investors entering the space, according to Henri Arslanian, Crypto Leader at professional accounting and financial services firm PWC, also known as Pricewaterhousecooper. In an interview with Bloomberg Thursday, the executive explained that boutique investment firms and…

Read More

ETH Compatible BCH Sidechain Smartbch Successfully Launches Three Nodes

The day before the fourth Bitcoin Cash anniversary, the Smart Bitcoin Cash team (Smartbch), announced the project has launched three nodes as genesis validators. Smartbch disclosed that Btc.com, Viabtc, and Matrixport are participating and the project has officially started its voting period. Smartbch Fires up Smart Chain’s Genesis Validators For quite some time now, the Bitcoin Cash (BCH) community has been patiently waiting on the development of the Smartbch project. The reason for this is because Smartbch could unlock massive potential between Ethereum (ETH) and Bitcoin Cash. The protocol could…

Read More

Biden’s new mask guidance too little, too late for parts of the country, officials say

A summer of freedom from lockdowns and face coverings is being punctuated by Centers for Disease Control and Prevention warnings to wear masks again. And officials in some states hardest hit by the Delta variant can already predict the public’s response. Health experts and local leaders in Alabama, Arkansas, Louisiana, Tennessee and Washington state told POLITICO they expect the latest warnings and recommendations will be brushed off by a crisis-weary public that’s been whipsawed for a year and a half by sometimes conflicting federal orders and scientific evidence. “The messaging…

Read More

Kentucky Regulators Crack Down on Blockfi Interest-Bearing Accounts

The crypto lender Blockfi is now dealing with regulators from five states as Kentucky has joined the fray against the firm’s Blockfi Interest Accounts (BIAs). On July 30, Blockfi shared a statement on Twitter that explained the Kentucky Department of Financial Institutions (DFI) has sent the company an order that aims to ban new BIA accounts. Blockfi Now Has Problems With Regulators From 5 States The New York City-based cryptocurrency finance company Blockfi was founded in 2017 by co-founders Zac Prince and Lori Marquez. The firm is a cryptocurrency lending…

Read More

Central Bank Governor: South Africa’s Digital Currency Study Ongoing

South African Reserve Bank (SARB) governor, Lesetja Kganyago, has once again confirmed that the central bank is presently studying the feasibility of issuing a digital currency. In his remarks at the SARB’s annual general meeting, governor Kganyago suggested his organization has embarked on this study to keep abreast with the growing trend of central banks that are studying CBDCs. Retail CBDC In the past few years, several central banks including a few in Africa have similarly announced their CBDC studies. Already, the central banks of Ghana and Nigeria have both…

Read More

Fed Governor Lael Brainard Can’t Imagine Future Without Digital Dollar

Pointing to a number of reasons why a digital version of the U.S. dollar should be created, Federal Reserve Governor Lael Brainard insisted that not having one wouldn’t lead to a sustainable future. The central bank official believes a digital dollar will have both international and domestic applications. US Fed’s Lael Brainard Can’t Wrap Head Around Not Issuing CBDC With other nations, most notably China, moving forward with their own digital currency projects, Lael Brainard, member of the U.S. Federal Reserve Board of Governors, has highlighted the urgency around the…

Read More

Bitcoin Price Regains Strength Above $41K, Crypto Market Cap Jumps 6% in 24 Hours

Crypto assets have climbed in value during the last 24 hours as the price of bitcoin tapped a high on Friday, reaching $42,411 per unit at 8:00 p.m. (EDT). The entire market capitalization of all 10,000+ crypto assets is $1.64 trillion on Saturday, up over 6% during the last day. Bitcoin Climbs Over 20% This Week The price of bitcoin (BTC) and a number of other digital assets have climbed higher in value during the last few days. Five days ago, a massive short squeeze propelled the price of bitcoin…

Read More

McConnell stirs GOP intrigue with support for Biden’s infrastructure bill

Moments before the Senate took a pivotal vote on its bipartisan infrastructure deal, negotiators zeroed in on the most important undecided member: Mitch McConnell. The Senate minority leader stayed quiet for weeks but finally tipped his hand on Wednesday afternoon on the floor to a bipartisan group of colleagues, according to senators and aides. He told them he would support moving ahead on the bill, provided that the legislation coming to a final vote was their agreement — not something written by Senate Democrats. It was the first inkling, among…

Read More

‘Down the drain’: Millions face eviction after Biden lets protections expire

As the clock runs out on a nationwide eviction ban for what’s expected to be the final time, millions of tenants are staring at the prospect of losing their homes as they wait for emergency rental aid that the government has failed to deliver. The federal eviction moratorium in place since September is set to expire Saturday, after the Biden administration refused to extend it and Democrats in Congress couldn’t muster the votes to intervene. Now lawmakers and activists fear an unprecedented surge in evictions in the coming months just…

Read More

Democratic push to extend eviction moratorium fizzles in the House

The House failed to extend the national moratorium on evictions Friday, with Democratic leaders needling the White House for the inaction that could result in millions of people across the country losing their homes. “Really, we only learned about this yesterday,” Speaker Nancy Pelosi told reporters after Democrats tried to extend the moratorium, only to have Republicans object. “Not really enough time to socialize it within our caucus to build… the consensus necessary,” Pelosi added. The failed vote came after Pelosi and her top two deputies huddled with House Financial…

Read More

Stricken states face Covid confusion after new mask guidance

A summer of freedom from lockdowns and face coverings is being punctuated by Centers for Disease Control and Prevention warnings to wear masks again. And officials in some states hardest hit by the Delta variant can already predict the public’s response. Health experts and local leaders in Alabama, Arkansas, Louisiana, Tennessee and Washington state told POLITICO they expect the latest warnings and recommendations will be brushed off by a crisis-weary public that’s been whipsawed for a year and a half by sometimes conflicting federal orders and scientific evidence. “The messaging…

Read More

Opinion | If Kids Ran Our Elections

At first, I was simply terrified to visit the class. In my day job, I’m an election law professor, but for an hour last year I was an elementary school teacher. That seemed much harder. My fourth grade daughter had told her teacher that our family dinner conversations often revolved around the contentious 2020 election. So, the teacher sent me an invitation: Would I come discuss constitutional law and voting rights with a group of 9- and 10-year-olds? Normally, I teach these topics to law students, who can engage with…

Read More

Digital Ticket Stubs: New York Knicks Launch Team’s First NFT Collection

On Tuesday, the New York Knickerbockers, in partnership with Sweet, launched the NBA team’s first-ever non-fungible token (NFT) collection. The NFTs feature limited edition digitally designed 3D game tickets made specifically for the Atlantic Division basketball team. With less than 24 hours left on the auction, the Knicks’ NFT sale has sold out a number of tickets. 3D NFT Tickets from 5 Classic New York Knicks’ Games A number of NBA teams are getting in on blockchain technology and many American professional basketball teams have engaged in all types of…

Read More

Automated Investment Service Firm Wealthfront Adds Support for Grayscale’s BTC, ETH Trusts

On Thursday, the Palo Alto-based automated investment service firm, Wealthfront Inc., announced that customers can now get exposure to crypto assets via the company’s platform. The firm revealed that clients can choose from two Grayscale investment trusts, as the company now offers investments in the Grayscale Ethereum Trust (ETHE) and the Grayscale Bitcoin Trust (GBTC). Wealthfront Connects Customers to Two Grayscale Trusts This week Wealthfront has added two Grayscale crypto trusts to the firm’s menu of investments. Wealthfront is an automated investment operation sometimes referred to as a robo-advisor that…

Read More

Bank of America, Coinbase, FTX Invest in Paxos Series D Funding Round

Paxos, a blockchain services and tokenization firm has added Coinbase Ventures, FTX, Bank of America, and Founders Fund as backers in its Series D funding round that started last April. These institutions were listed as “strategic investors,” but the amounts of their contributions were not disclosed. Paxos has now raised more than $540 million in funding. Bank of America, FTX, and Coinbase Invest in Paxos Two leading cryptocurrency exchanges and the second-biggest U.S. bank invested in Paxos, a New York-based blockchain infrastructure firm that focuses on offering clearing and tokenization…

Read More

Global Cryptocurrency Adoption Doubled Since January Reaching 221 Million Users: Report

A new report issued by Crypto.com, a cryptocurrency exchange and fintech services firm, discovered that the number of people using cryptocurrencies has more than doubled since January, reaching 221 million last June. The report states that the rise of the defi movement, institutions like Tesla, Visa, Mastercard, and Microstrategy adopting cryptocurrency, and El Salvador establishing bitcoin as legal tender, were important events that helped to popularize crypto even more. Cryptocurrency Userbase Jumps to 221 Million Worldwide, According to Crypto.com Report Crypto.com’s “Measuring Global Crypto Users” report found that the number…

Read More

GOP to Herschel Walker: Consider staying on the bench

Republicans loved seeing Herschel Walker score touchdown after touchdown. They doubt he can carry them to the Senate majority. Walker is a former NFL star and Donald Trump’s favorite to take on Democratic Sen. Raphael Warnock in the Georgia Senate race next fall. But as years-old allegations about Walker’s marriage and business dealings weigh on his potential bid, Senate Republicans are raising concerns about his past in a state widely viewed as their best pickup opportunity next year. “Some of it’s pretty bad, obviously: physical abuse and pulling a gun…

Read More

Trump pressured DOJ to call election ‘corrupt,’ ex-official wrote

Former President Donald Trump pressured top Justice Department officials to publicly call the 2020 election “illegal” and “corrupt” and “leave the rest to me,” according to handwritten notes released by a House committee on Friday. The notes, written by former acting Deputy Attorney General Richard P. Donoghue, shine additional light on the Trump’s unprecedented effort to overturn President Joe Biden’s victory during his waning days in office, based on false claims of fraud. Donoghue’s notes detail a Dec. 27, 2020, phone call with Trump and then-acting Attorney General Jeffrey Rosen,…

Read More

Justice Department says Democrats are entitled to Trump’s tax returns

The Justice Department said Friday that former President Donald Trump’s tax returns should be released to congressional Democrats, though the administration said it won’t hand them over without first giving Trump a chance to respond in court. Reversing a legal opinion by the Trump administration, the department said lawmakers are entitled to the information under an arcane law allowing the heads of Congress’s tax committees to examine anyone’s private tax information. “The Chairman of the House Ways and Means Committee has invoked sufficient reasons for requesting the former President’s tax…

Read More

Central Bank of Ireland Governor Talks Crypto, Praises ‘Secure, Decentralized’ Technology

Gabriel Makhlouf, the governor of the Central Bank of Ireland (CBI), has published a blog post in which he shares his views on the digitalization of finance. While echoing concerns expressed by his counterparts regarding cryptocurrencies, the official has also highlighted some of their positives. Don’t Ignore the Positive Elements of Crypto Technology, Central Bank Governor Says The article titled “Digital Money” was published on the bank’s website on Thursday. In the post, Gabriel Makhlouf discusses the project to issue a digital version of the common European currency. The European…

Read More

Breaking NFTs to Pieces: These 4 Projects Are Fractionalizing Grimes, Banksy, Cryptopunk NFTs

While non-fungible token (NFT) collectibles have been all the rage, a few projects have been developing the concept of fractionalized NFTs so investors without deep pockets can purchase shares of an expensive collectible. On Thursday, the firm Otis revealed that people can invest in an NFT created by the world-famous Canadian musician and record producer Grimes. The platform allows anyone to purchase a small fraction of the recording artist’s artwork called “Newborn 1 & 3.” Grimes’ Artwork ‘Newborn 1 & 3″ Gets Fractionalized During the last 30 days, statistics from…

Read More

CDC under fire for decision to limit tracking of Covid-19 cases in vaccinated people

The Centers for Disease Control’s limited tracking of Covid-19 cases in vaccinated people is hindering public health officials’ attempts to stem the nationwide surge of the highly transmissible Delta variant. The agency said in May that it would stop routinely tracking so-called breakthrough infections that didn’t lead to hospitalization or death. Several states then stopped tracking mild breakthrough cases, and at least two states told POLITICO they are having trouble reliably tracking infections in vaccinated people. Now some public health experts and lawmakers are pressuring the CDC to reverse its…

Read More