Elon Musk’s Twitter has fallen into revenue difficulties, hoping to find new sources of revenue outside the original $5 billion a year advertising business model. According to a recent Financial Times report, Musk is betting this ambition for revenue growth on the payments business. He has said he wants Twitter to become a “universal app” […]
According to the findings of a study by Recap, the crypto asset management firm, the Nigerian city of Lagos is ranked among the world’s top 20 crypto hub cities. Besides Lagos, five more African cities, namely the Angolan city of Luanda, Nigeria’s Ibadan, and three South African cities — Cape Town, Johannesburg and Pretoria — […]
Elementus, a New York-based blockchain firm, has raised $10 million as part of its Series A-2 funding round, led by Web3 VC company Parafi Capital. The raise, which values the company at $160 million, aims to allow Elementus to keep improving its processes for providing effective and sound blockchain analytics to Web3 companies and government […]
Nouriel Roubini, an economist known as “Dr. Doom,” has warned about the demise of the U.S. dollar and the rise of a “bipolar” world. Roubini believes that the Chinese renminbi might be a substitute for the dollar, as new technologies like central bank digital currencies (CBDCs) and corporate payment rails contribute to a new landscape. […]
The regime in North Korea has managed to steal more cryptocurrency last year than in previous years, according to a draft U.N. report. Despite the difference between quoted estimates, the authors conclude that 2022 was a record-breaking year for crypto theft, to be blamed on the hermit state. Cybercrime Groups Linked to North Korea Get […]
Pacific Investment Management Company (PIMCO) expects the U.S. dollar to “continue to lose its appeal as the safe-haven currency of last resort.” The $1.74 trillion asset management firm added that the USD “is likely to fall further in 2023 as inflation falls, recession risks decline, and other shocks abate.” PIMCO Strategist Warns About USD Pacific […]
Bank of America is preparing for a possible U.S. debt default, says CEO Brian Moynihan. He is not a fan of eliminating the debt ceiling altogether as some lawmakers have proposed. Meanwhile, Treasury Secretary Janet Yellen says “every responsible member of Congress must agree to raise the debt ceiling.” Bank of America CEO Brian Moynihan […]
Investment management and advisory firm Goehring & Rozencwajg expects gold to hit record highs this year. “I wouldn’t be surprised to see a $3,000 price this year,” said an executive of the firm. “It’s time for people to want to be bullish on gold.” Gold Heading for ‘Record Highs’ This Year Investment firm Goehring & […]