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    in Economy

    U.S. nominee for World Bank wins positive reviews at G20 finance meeting

    BENGALURU (Reuters) – The U.S. nominee to lead the World Bank, ex-MasterCard CEO Ajay Banga, gained traction with leading members on Friday, a sign that he will likely have a smooth ride to confirmation by the bank’s executive board.The finance ministers of France and Germany gave positive reviews to Banga, nominated on Thursday by U.S. President Joe Biden as a surprise choice to lead the institution’s transformation to fight climate change and other global challenges.German Finance Minister Christian Lindner said on the sidelines of a G20 finance leaders in India that Banga’s nomination was a “very remarkable” proposal because his private sector experience would be potentially helpful in mobilizing private investment in the fight against climate change and for development projects.Lindner said that Germany would follow the nomination with “great attention” and expressed “sympathy” for the proposal.The comments mark a turnabout from Tuesday, when German international development minister Svenja Schulze said the next World Bank chief should be a woman.”I think he is a good candidate. I need to meet him to know a little bit more about him,” French Finance Minister Bruno Le Maire told Reuters.Asked whether Europe would try to nominate its own choice, Le Maire said: “You know, we have this (U.S.) candidate, so I think it’s wise to meet him, get to know more about him.”The G20 ministers meeting is being held on the outskirts of the Indian tech hub city of Bengaluru.India’s finance ministry has not commented on the nomination of Banga, an Indian-born U.S. citizen, which played prominently in Indian media on Friday. But the government was expected to support Banga, India’s new executive director at the International Monetary Fund, told Reuters in Washington.Krishnamurthy Subramanian, the former top economic adviser to the Indian government, called the nomination “an elegant solution”. ENSURING U.S. LEADERThe United States, the lender’s dominant shareholder, has chosen every World Bank president since the instititution’s founding at the end of World War Two.U.S. Treasury Secretary Janet Yellen said she did not know whether there would be other nominees for the job, but said Washington moved quickly with a well qualified candidate to ensure that tradition would continue.”… we’ve tried to find a nominee who was really well qualified and brings a unique set of skills to the job that we think will be attractive,” she said.Other countries have until March 29 to nominate an alternative candidate and the World Bank board intends to announce a choice by early May.But with the United States and European countries supporting Banga, along with some key emerging markets, a challenger would have almost no chance of succeeding and would be a largely symbolic effort to protest what is seen by many countries and stakeholders as a non-transparent selection process stacked for too long in Washington’s favour.Yellen told reporters that Banga has “the right leadership and management skills, experience in emerging markets, and financial expertise” to lead the bank and reform it to boost lending on climate change, while maintaining its core anti-poverty mission. More

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    Financial crime watchdog FATF suspends Russia’s membership over Ukraine war

    “The Russian Federation’s actions unacceptably run counter to the FATF core principles aiming to promote security, safety, and the integrity of the global financial system”, the Paris-based group said in a statement.Ukraine over the past year made repeated calls to the group to exclude Russia altogether.But while Russia has now been suspended, it remains a member.”The Russian Federation remains accountable for its obligation to implement the FATF Standards. The Russian Federation must continue to meet its financial obligations,” the FATF said.It added that it would review the situation at each of its plenary meetings.The FATF is an inter-governmental organisation that underpins the fight against money laundering and terrorism financing by setting global standards and checking if countries respect them. More

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    Dollar rises to fresh seven-week high on rate outlook; yen slides

    LONDON (Reuters) – The dollar index rose to seven-week highs on Friday, as investors prepared for U.S. interest rates to stay higher for longer after a set of strong U.S. economic data. The yen fell after a volatile Asian trading session, with incoming Bank of Japan Governor Kazuo Ueda saying it was appropriate to keep ultra-loose monetary policy. Strong U.S. jobs data and rhetoric from Federal Reserve officials this month about openness to higher rates if needed in the fight against inflation have resulted in the dollar erasing its year-to-date losses.The dollar index – which measures the U.S. currency against six others – was 0.2% higher at 104.80, its highest since Jan. 6. It was set for a fourth-straight weekly gain, having risen 2.5% this month. “The dollar notching its fourth-consecutive week of gains highlights just how far the U-turn in the market narrative has gone as data this week continues to highlight strength in the U.S. economy and its underlying inflation drivers,” Simon Harvey, head of FX Analysis at Monex, said.This will likely be displayed yet again with January’s personal consumption expenditures price index – the Fed’s preferred inflation measure – due at 1330 GMT. But markets will likely wait for more Fed comments and February data for further rate hikes repricing, Harvey added. Investors expect U.S. rates to peak in July at 5.35% and remain above 5% until the end of the year, having walked back expectations of a deep rate cut this year. “We’re in a bit of a wait-and-see pattern in markets, with the dollar holding up firm and momentum largely driving minor moves in major currency pairs,” Harvey said.The euro edged 0.1% lower against the greenback at $1.0583, and sterling slipped 0.27% against the dollar to $1.1985. UEDA, JAPAN INFLATIONIncoming BOJ chief Ueda, who was nominated earlier this month in a surprise move, warned uncertainties regarding Japan’s economic recovery remained “very high”, which would warrant the BOJ maintaining its ultra-loose monetary policy.The yen was volatile, weakening 0.45% to 135.29 per dollar, after touching its highest since Monday in Asian trading hours.”His neutral comments, coming against market’s hawkish expectations and together with the rising global yields, suggest the yen could embark on a weakening trend again once we are past this volatility,” said Charu Chanana, market strategist at Saxo Markets in Singapore.Japan’s core consumer inflation hit a fresh 41-year high in January, putting renewed pressure on the central bank to phase out its massive stimulus programme. More

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    in Cryptocurrency

    Theta Network Price Prediction 2023-2030: Will THETA Price Hit $5 Soon?

    Theta Network is a blockchain project that supports Web3 infrastructures for content, media, video, and entertainment. Its native token is called THETA.Theta Network investors are bullish on the token since it has had a return on investment (ROI) of over 30 times in the past 2 years. The crypto bubble of 2021 led to an increase in the price of THETA to its present all-time high (ATH) of $15.90 which was attained in April 2021. Irrespective of the recent crypto winter, THETA investors are confident that the future of THETA is bullish.If you are interested in the future of Theta Network (THETA) and would want to know the price analysis and price prediction of THETA for 2023, 2024, 2025, 2026, up to 2030, keep reading this Coin Edition article.Theta Network is a Web3 infrastructure for video, media, and entertainment that was launched in 2018 by its cofounders Mitch Liu and Jieyi Long. Its mainnet 1.0 was launched in March 2019 while its mainnet 2.0 was launched in May 2020.Through its positioning in the development of Web3, Theta Network has attracted top partners such as Google (NASDAQ:GOOGL), Samsung (KS:005930), Sony (NYSE:SONY), Fuse Media, and Edge Nodes.Although the first announcement about the Theta token was made in 2017 on Medium, its token sale started in January 2018. Before the launch of its mainnet, THETA was an Ethereum ERC-20 token. Theta is open source and works on the proof-of-stake (PoS) consensus mechanism.Theta Network enables video creators to create, stream, and receive incentives from users who view their videos in the form of Theta native token (THETA). This reward can be withdrawn and sold in the centralized wallet and sold for cash. The two tokens that powers the Theta Network are THETA and Theta Fuel (TFUEL). TFUEL powers the internal economy of the decentralized media platform.Users can also receive THETA incentives by sharing their excess bandwidth with other users. An announcement was made in June 2021 that an NFT marketplace has been created where users can now create NFTs about media celebrities and receive THETA payment. This is to increase the adoption of THETA.The maximum supply of Theta Network (THETA) is 1 billion THETA while its maximum supply is 1 billion THETA according to CoinMarketCap. At the time of writing, THETA is trading for $1.25, representing a 24-hour increase of 3.37%. The trading volume of THETA in the past 24 hours is $41,519,331 which represents a 0.76% increase.Some of the top cryptocurrency exchanges for trading Theta Network (THETA) are Binance, Kucoin, Huobi Global, Gate.io, and others.Now that you have known what THETA is and its current market status, we shall discuss the price analysis of Theta Network (THETA) for 2023.Currently, THETA is ranked in the 46th position on CoinMarketCap. Will developments and upgrades within the Theta Network community lead to a rise in the price of Theta Network (THETA)? We shall see this in this Coin Edition price analysis 2023 article…Theta Network (THETA) Price Analysis – Keltner ChannelTHETA/USDT 1Day Chart Showing Keltner Channel (Source: Tradingview)The Keltner Channel is a technical analysis indicator used to determine trend direction by measuring volatility above and below the candlesticks. According to the Keltner Channel signals for Theta Network (THETA), the current bullish run could continue because the recent candlesticks are within the first half of the channel. Furthermore, because the last candlestick is bullish, the current increase in the price of THETA may be sustained before any reversal is expected.Theta Network (THETA) Price Analysis – Relative Strength IndexTHETA/USDT 1Day Chart Showing Relative Strength Index (Source: Tradingview)The Relative Strength Index (RSI) is a technical analysis indicator that determines whether an asset is oversold or overbought by measuring the relative momentum in the magnitude and speed of recent price changes. Theta Network (THETA) RSI value on the 1-day chart of THETA/USDT is 60.53. This value could spark another bullish run if more buyers are drawn in by the expected price increase to the 70 RSI value, which represents the strong region of a price reversal.Theta Network (THETA) Price Prediction – Moving AveragesTHETA/USDT 1Day Chart Showing 200-MA and 50-MA (Source: Tradingview)The chart above shows the 1Day chart of THETA 200-day and 50-day Moving Average (MA). Presently, THETA is on a bullish trend as indicated in the recent uptrend. Since a golden cross of the 50-day moving average crossing over the 200-day moving average is happening soon, we can expect a bull run for THETA.Also, since the gap between the moving averages is narrow and above the recently formed candlesticks, the price of Theta Network (THETA) might experience a big rise or fall in the future. Investors should wait for a few confirmations before taking the trade as it can be the golden cross or just a free fall.THETA/USDT 1Day Chart (Source: Tradingview)By looking at the daily chart of THETA/USDT, the THETA price was swinging from the weak low of $0.707 and then rose up to its 1-day primary resistance level between $1.327 and $1.271. Moreover, the coin is above the 200-day moving average, meaning that the market bounced back from the support level and now going bullish. However, it still needs more pressure and buying strength to cross over the current 1-day resistance level. If that happens, we can expect THETA to rise up to its previous strong high at $1.712. Meanwhile, our long-term THETA price prediction for 2023 is bullish since it cannot break the present support level soon. We can expect THETA to reach $1.712 in 2023.Theta Network (THETA) Price Prediction – Resistance and Support LevelsTHETA/USDT 1Day Chart (Source: Tradingview)This bullish chart shows that the price of THETA was ranging from $0.9746 and $1.30 in the previous 30 days. Moreover, THETA has been up by 1.29% in the past 24 hours. If this price increase continues, THETA could break the $1.271 level and move higher to $2.367, and even higher, the bullish signal for 2023.However, if sellers have their way, the price of THETA might be dethroned from its present uptrend position. In simpler terms, THETA might trend below the $0.912 support level, and even lower in 2023, a bearish signal.Theta Network (THETA) price could hold the support level around 200-MA, the long-term moving average of 200 days firmly, buyers will then have ample time and stability to forge the next attack mission on the vital level at $5, making it not plummet but play consistently. Additionally, this could only be possible if THETA breaks through past psychological resistance levels.Theta Network (THETA) prices might grow past $12 during the next three years. Furthermore, hitting this level might not be so tough for THETA due to new medium, short-term, and long-term price objectives for purchase or sell orders that may be discovered.Theta Network (THETA) prices might grow past $20 during the next four years. Furthermore, hitting this level might not be so tough for THETA due to new medium, short-term, and long-term price objectives for purchase or sell orders that may be discovered. According to the forecast, THETA has a strong chance of reaching a new all-time high (ATH) price.Theta Network (THETA) prices might grow past $28 during the next five years. Furthermore, hitting this level might not be so tough for THETA due to new medium, short-term, and long-term price objectives for purchase or sell orders may be discovered. According to the forecast, THETA has a strong chance of reaching a new all-time high (ATH) price.Theta Network (THETA) prices might grow past $36 during the next six years. Furthermore, hitting this level might not be so tough for THETA due to new medium, short-term, and long-term price objectives for purchase or sell orders may be discovered. According to the forecast, THETA has a strong chance of reaching a new all-time high (ATH) price.Theta Network (THETA) prices might grow past $44 during the next seven years. Furthermore, hitting this level might not be so tough for THETA due to new medium, short-term, and long-term price objectives for purchase or sell orders may be discovered. According to the forecast, THETA has a strong chance of reaching a new all-time high (ATH) price.Theta Network (THETA) prices might grow past $59 during the next eight years. Furthermore, hitting this level might not be so tough for THETA due to new medium, short-term, and long-term price objectives for purchase or sell orders may be discovered. According to the forecast, THETA has a strong chance of reaching a new all-time high (ATH) price.According to our long-term THETA price estimate, THETA prices could reach a new all-time high this year. If the current growth rate continues, we could anticipate an average price of $130 by 2040. If the market becomes bullish, the price of THETA may increase beyond our 2040 forecast.According to our THETA forecast, the average price of Filecoin in 2050 might be above $280. If more investors are drawn to THETA between these years, the price of THETA in 2050 could be far higher than our projection.As said above, THETA might reach $5 in 2023 and $100 by 2030 if investors have decided that THETA is a good investment along with mainstream cryptocurrencies like Bitcoin and Ethereum.What is Theta Network (THETA)? Theta Network is a blockchain project for video sharing. Its native token is THETA.How to buy Theta Network (THETA) Token? Like other cryptocurrencies, Theta Network (THETA) can be traded in cryptocurrency exchanges like Binance, Huobi Global, Kucoin, Gate.io, and others.Will Theta Network surpass its present ATH? Theta Network has a low possibility of surpassing its present all-time high (ATH) price of $15.90 in 2026.When was Theta Network (THETA) launched? It was launched in January 2018.What will be the Theta Network (THETA) price by 2023? Theta Network (THETA) price is expected to reach $2.26 by 2023.What will be the Theta Network (THETA) price by 2024? Theta Network (THETA) price is expected to reach $5 by 2024.What will be the Theta Network (THETA) price by 2025? Theta Network (THETA) price is expected to reach $12 by 2025.What will be the Theta Network (THETA) price by 2026? Theta Network (THETA) price is expected to reach $20 by 2026.What will be the Theta Network (THETA) price by 2027? Theta Network (THETA) price is expected to reach $28 by 2027.What will be the Theta Network (THETA) price by 2028? Theta Network (THETA) price is expected to reach $36 by 2028.What will be the Theta Network (THETA) price by 2029? Theta Network (THETA) price is expected to reach $44 by 2029.What will be the Theta Network (THETA) price by 2030 Theta Network (THETA) price is expected to reach $59 by 2030.What will be the Theta Network (THETA) price by 2040? Theta Network (THETA) price is expected to reach $130 by 2040.What will be the Theta Network (THETA) price by 2050? Theta Network (THETA) price is expected to reach $280 by 2050.Disclaimer: The views and opinions, as well as all the information shared in this price prediction, are published in good faith. Readers must do their research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.See original on CoinEdition More

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    Solana Is Back as a Genuine L1 Contender: Coinbase

    In a research report published on Wednesday, the US-based crypto exchange, Coinbase, argued that the fundamental value proposition of the Solana blockchain persists from a technical perspective, regardless of the widespread negative sentiment in the community.The exchange noted that given Solana’s relative strength in current network activities, including transactions, users, and development, the blockchain is well-positioned to reassert itself as a genuine layer-1 competitor.According to data from the market tracking website, CoinMarkeCap, Solana lost over $8 billion of its market share following the collapse of FTX. The research report hinted that Solana suffered an inordinate impact due to its historical relationship with the now-defunct FTX exchange.Furthermore, Coinbase argued that the advent of the Solana protocol helped catalyze the proliferation of alternative layer-1 smart contract platforms observed in recent years. It said Solana network capacity for cheap and fast transactions attracted new users during the bull run of 2021, as other blockchains became prohibitively expensive.Coinbase analyst Brian Cubellis states:During the FUDs last year, two Solana-based NFTs, Y00topia and DeGods, announced that they would be migrating to other competitor chains, Ethereum and Polygon, in the first quarter of 2023. Both platforms jointly control over 25k NFT collections.Notably, CoinMarkeCap data shows that Solana has almost completely recovered from the November blow. Its utility coin SOL now has a market cap of $9 billion and trades over $24, which is up from about $6 last year.The post Solana Is Back as a Genuine L1 Contender: Coinbase appeared first on Coin Edition.See original on CoinEdition More

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    SEC vs XRP: Anti-graft Agency Supports Motion to Unseal Hinman Docs

    The US whistleblower and anti-corruption watchdog, Empower Oversight, complained that the Securities and Exchange Commission (SEC) has repeatedly denied transparency organizations access to information of public interest, especially regarding the crypto industry.Consequently, the anti-graft agency has supported a motion by a crypto law firm that seeks to unseal a document regarding the former SEC executive chairman, William Hinman.Jayson Foster, the founder of Empower Oversight, expressed that the public deserves answers from the SEC as to what exactly the agency knew about Hinman’s speech and when they knew it.Foster further noted that the SEC blocked multiple attempts by Empower Oversight to uncover conflicts of interest and ethical questions at the agency. Empower Oversight recounted how it opposed the SEC’s motion for summary judgment in an ongoing FOIA lawsuit over documents related to selective enforcement in cryptocurrency cases.On Tuesday, Forbes contributor and policy researcher Roslyn Layton filed an amended motion to gain access to the contested Hinman documents in the SEC’s case against Ripple. Attorney James K. Filan, who has followed the lawsuit closely, tweeted that the initial filing contained erroneous claims.In the motion, Layton argued that the US regulator appears inconsistent in applying regulatory laws. According to her, the SEC considers Ethereum’s native token, ETH, as entirely outside the securities laws while seeking billions in penalties from Ripple’s virtually identical offering for supposedly violating those laws.“That inconsistency has given rise to grave concerns about potential conflicts of interest because Hinman had a financial stake in promoting Ethereum to the exclusion of competing coins like XRP,” the motion read.The post SEC vs XRP: Anti-graft Agency Supports Motion to Unseal Hinman Docs appeared first on Coin Edition.See original on CoinEdition More