finance

Governments vs. Networks: The Battle for the Soul of Finance

Governments have significant discretion over economics and finance today, but decentralized network-driven alternatives threaten that control. Our main discussion: The battle for the soul of finance. In this episode, NLW looks at the power competition between governments on the one hand and the decentralized network-driven finance alternatives that would reshape that power. Interestingly, in this …

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Report: Market Valuation of 14 Banking Giants Shed $635 Billion This Year

The world’s largest banks lost a considerable amount of market valuation amid the Covid-19 pandemic, according to a new report that estimates financial incumbents lost $635 billion. Between December 2019 and August 2020, the market caps of 14 major banking institutions lost upwards of 30-50% during the time period. A newly published report written by …

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Bitcoin Options Traders Bet the Price of BTC Can Touch $36K by December

This past weekend, data shows the most active bitcoin options contracts were calls for $28k, $32k, and $36k by the year’s end. This means a number of options traders are betting the price of bitcoin will exceed the all-time high (ATH) the decentralized currency touched in December 2017. On September 14, researchers from the data …

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Crypto Borrowing: Here Are Seven of the Best Interest Rates on the Market

Cryptocurrency is sizing up traditional finance on its legacy turf of lending and borrowing with competitive interest rates (currently as low as 0.44% for ethereum and 4.50% per year for bitcoin) as well as less cumbersome verification procedures. Crypto holders present their virtual assets as collateral to get loans paid out in fiat or stablecoin. …

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UK Digital Bank Ziglu Launches P2P Payments for Bitcoin and Bitcoin Cash

London-based challenger bank Ziglu said Monday that it has been licensed as an Electronic Money Institution (EMI) by the U.K.’s Financial Conduct Authority. After receiving the permit, the fintech start-up immediately launched peer-to-peer (P2P) payments for both crypto and fiat currencies. Ziglu founder and chief executive officer Mark Hipperson said the EMI license allows the …

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Unlimited QE and an Index Portfolio: How Fed Chair Jay Powell Can Pump His Bags

In mid-August the U.S. stock market defied odds and mainstream media claimed after the Standard & Poor’s 500-stock index touched new heights on August 18, it ‘officially’ ended the “shortest bear market in history.” Interestingly while roughly 30 to 40 million Americans face the risk of eviction, the 16th Chair of the Federal Reserve, Jerome …

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New DeFi alliance to connect Eastern and Western DeFi markets

Amid the ongoing craze around decentralized finance, or DeFi, a blockchain startup in China is launching a global DeFi initiative. Conflux Network, a permissionless blockchain startup, has launched a new DeFi-focused association focused on international cooperation of major industry players. Called “Open DeFi,” the new alliance aims to connect Eastern and Western DeFi markets, uniting …

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Three of Australia’s “big four” banks bring bank guarantees on blockchain

Three of the “big four” Australian banks are forming a new company called Lygon to digitize bank guarantees using blockchain technology.  Bank guarantees are an official contract between a debtor and a financial institution. It ensures the debtor and the debt provider that the debt will be paid on time under all circumstances. The Australia …

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Crypto has a chance to upgrade the legacy financial system

If Bitcoin (BTC) was born in response to the systemic failures laid bare by one global financial crisis, then the subsequent rise of various decentralized networks can be seen as differences in opinion on the best way forward. All are in agreement that the existing financial system is broken, but are slightly at odds in …

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Visa Exec Says ‘Opt Out With Bitcoin’ Slamming Fed’s Policy Change Toward Inflation

On Thursday, 17 top Federal Reserve officials explained that the committee plans to let inflation run hotter than usual, or above the benchmark 2% rate for a duration of time. Fed Chair Jerome Powell’s speech was considered a “major policy shift” and a number of economists commented on the central bank’s move. Senior director of …

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