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Economics News

A collection of 554 issues

How Ethereum Name Service (ENS) Integration with PayPal and Venmo Is Revolutionizing Crypto Transactions

The world of cryptocurrency continues to evolve, with new innovations aimed at simplifying and enhancing the user experience. One such development is the integration of the Ethereum Name Service (ENS) with widely used payment platforms like Venmo and PayPal. This significant advancement has the potential to reshape how millions of

Venezuelan Opposition Leader Supports Bitcoin, Calling it a Lifeline for the Nation Amid Economic Crisis

In a country gripped by one of the worst economic crises in recent history, Maria Corina Machado, the leader of the Venezuelan opposition, has made a bold statement, referring to Bitcoin as a "lifeline" for the people of Venezuela. Her comments come at a time when the nation's economy has

Polymarket Users Predict a 77% Chance of a 25 Basis Points Fed Rate Cut in September 2024

As the financial world anticipates the upcoming Federal Reserve (Fed) meeting, all eyes are on Polymarket, a popular prediction platform where users speculate on potential economic events. Recently, Polymarket users have increasingly bet on a 25 basis points rate cut by the Fed, pushing the probability of such an outcome

El Salvador's Bitcoin Strategy: Bukele Hails 'Positive' Outcomes Despite Lag in Adoption

El Salvador's President, Nayib Bukele, recently reflected on his country’s pioneering Bitcoin initiative in an interview with TIME magazine. While he acknowledged that the broader adoption of the cryptocurrency has not met his expectations, Bukele firmly believes that the strategy has been overwhelmingly beneficial for the nation. A Bold

Rhodium Bitcoin Mining Company Declares Bankruptcy Amidst $100 Million Liabilities

Rhodium Enterprises, a Texas-based Bitcoin mining company, has filed for voluntary bankruptcy under Chapter 11 in the United States Bankruptcy Court for the Southern District of Texas. The company cited liabilities of up to $100 million, following months of financial challenges within the organization. This significant move reflects the mounting

Binance to Expand Workforce by 1,000 Employees by Year-End: A Deep Dive into the Future of the Crypto Giant

In a recent interview with Bloomberg, Binance's CEO Richard Teng revealed that the cryptocurrency exchange plans to hire an additional 1,000 employees by the end of the year. Teng, who took over the reins of Binance nine months ago from Changpeng Zhao (CZ), shared insights into the company's current

Solana Classified as a Security by the SEC Amid ETF Discussions with Issuers

In the ever-evolving landscape of cryptocurrency regulation, the U.S. Securities and Exchange Commission (SEC) continues to play a pivotal role in shaping the future of digital assets. Recently, the SEC's focus turned towards Solana (SOL), one of the most prominent cryptocurrencies in the market, as part of its broader

Crypto4Harris: How Cryptocurrency Advocates in the US Are Rallying Behind Kamala Harris to Prevent Trump's Return

In a significant move within the political landscape of the United States, a group of Democratic cryptocurrency enthusiasts has formed an alliance to back Vice President Kamala Harris in her presidential campaign. This newly established coalition, named Crypto4Harris, aims to ensure that former President Donald Trump does not return to

China Implements 20 Strategies to Boost Domestic Consumption Amid Economic Slowdown in Second Quarter

In light of the slowing economic growth in the second quarter of the year, Chinese authorities have been considering measures to stimulate consumer spending. Both China and the International Monetary Fund (IMF) have pointed out that without such measures, the country's economic situation could worsen. To address these concerns, China

Senator Cynthia Lummis Introduces the 'BITCOIN Act of 2024' to Establish a Federal Bitcoin Reserve

Senator Cynthia Lummis has unveiled a groundbreaking legislative proposal aimed at revolutionizing the U.S. financial landscape. Dubbed the "BITCOIN Act of 2024," this ambitious bill seeks to establish a federal Bitcoin reserve, positioning the United States at the forefront of digital asset innovation. Overview of the BITCOIN Act of