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why is it importantStubbornly high inflation created a cost-of-living crisis for many consumers across the continent, causing them to significantly cut back on spending during this period. Spending in the euro zone fell by 0.3% in the first three months of the year, after falling 1% in the previous quarter. Imports also fell significantly as demand for goods and services contracted.Public spending, which soared during the pandemic lockdown, also fell sharply, contracting 1.6% in the first quarter from a year earlier.The economic downturn mirrors the recession in Germany, the euro zone's largest economy, which last month showed data for the…
Editor's note: A version of this article appeared in CNN Business' Nightcap newsletter. Sign up for free to receive it in your inbox. here. new york CNN — A spate of lawsuits against two of the world's largest cryptocurrency companies is sending chills through America's fragile ecosystem of digital assets. The Securities and Exchange Commission has filed two scathing complaints within 24 hours accusing Binance and Coinbase of operating illegal stock exchanges in the United States. The move marks a serious escalation in the SEC's campaign to rein in an industry that has long operated in a regulatory gray area.…
BTC recently hit a three-week high before stalling around $28,000, but has fallen significantly over the past few hours. Altcoins also turned red, with ETH falling below $1,900. Its market capitalization fell by more than $20 billion in one day. BTC rejected at $28,000 Bitcoin fell sharply on Thursday to a two-week low below $26,000, but it reacted well and recovered almost all its losses by the end of the week. A further small increase was seen on Sunday, with the asset rising to $27,400. Prices rose further on Monday morning after the US government reached an agreement on the…
Crypto.com will appear on your screen in the background of your mobile. February 19, 2023 in Brussels, Belgium. (Photo illustration by Jonathan Raa/NurPhoto via Getty Images)NurPhoto (from Getty Images) Do human crypto traders know how often they trade with automated traders? Human crypto traders are now much more likely to trade with automated traders than with other humans. This situation has a significant impact on price and trading performance. Cryptocurrency traders’ portfolios increasingly include debt issued by decentralized autonomous organizations rather than organizations with human boards of directors. This also has important implications for price and performance. These insights are…
Crypto.com cryptocurrency lender will appear on your mobile and Crypto.com will appear on your screen … [+] background. February 19, 2023 in Brussels, Belgium. (Photo illustration by Jonathan Raa/NurPhoto via Getty Images)NurPhoto (from Getty Images) Do human crypto traders know how often they trade with automated traders? Human crypto traders are now much more likely to trade with automated traders than with other humans. This situation has a significant impact on price and trading performance. Cryptocurrency traders’ portfolios increasingly include debt issued by decentralized autonomous organizations rather than organizations with human boards of directors. This also has important implications for…
In the second part of our two-part article on crypto market structures, Finance Magnates considers the likelihood of the crypto market eventually adopting the same structures as the FX OTC interdealer market. The phrase ‘there is more that unites us than divides us’ has been used in various ways by many politicians over the years as they sought to heal divisions in their parties or nations. But, it could equally be applied to the FX and crypto markets, where fragmentation and the absence of a single regulatory authority are just some of the common factors.The collapse of FTX highlighted shortcomings…
The cryptocurrency industry has witnessed remarkable growth over the past few years, and prospects for future growth remain strong. As crypto market participants continue to speculate on the future trend of digital assets, this is sure to present potential opportunities for traders and investors.Of course, the first step that is required to be able to buy and sell cryptocurrencies is to create a crypto wallet. This guide will explore everything you need to know about creating a crypto wallet, including why it’s essential, what features you should look for, and how to choose the right wallet to suit your needs.…
Stay informed with free updatesJust sign up for cryptocurrency myFT Digest — delivered straight to your inbox.Regulators should be faster and bolder to tame crypto markets and break up companies with unmanageable conflicts of interest, as they unveil a blueprint to rein in the financial “West” The world securities watchdog said.Iosco, an umbrella group of global market regulators, on Tuesday released guidelines for regulators to tighten standards following a series of industry explosions, including crypto exchange FTX. The 18-point plan covers areas such as conflicts of interest, disclosure rules and governance. “The diversity we see across jurisdictions at the moment…
Cryptocurrency prices seem to be less affected by macroeconomic factors than prices of more traditional financial assets. Key drivers for crypto assets include market confidence, adoption, technology and liquidity conditions (see Table)¹. By contrast, traditional financial assets are strongly influenced by macroeconomic drivers, such as interest rates and inflation. These traditional assets also differ from crypto in being subject to government regulations and in being more transparent in terms of know your-customer requirements and anti money laundering measures. Table 1 Interconnections between the crypto ecosystem and macroeconomic factors show up in the fact that favorable market conditions increase investors’ appetite…
In 2013, developer Nicolas van Saberhagen (probably a pseudonym) CryptoNote White Paper In it, he states that “privacy and anonymity are the most important aspects of electronic money.” This publication attracted the attention of Bitcoin developers Gregory Maxwell and Andrew Poelstra, who later papers We investigated the impact of features that enhance privacy and anonymity on existing cryptocurrencies. Other developers have used his CryptoNote ideas to Bytecoin, the first private cryptocurrency. That's when the first iteration took place. Monero Blockchain has arrived. “Thankful_for_today”, an anonymous user on the Bitcointalk forum, coded in Bytecoin and created a fork named BitMonero. Some…