Tesla (NASDAQ:TSLA) CEO Elon Musk has declared on Twitter (NYSE:TWTR) that he will now be voting for the Republican Party. He began his controversial tweet by stating that he used to vote Democrat but that they were now a party of division and hate.“Now, watch their dirty tricks campaign against me unfold,” concluded the billionaire in his now viral tweet. More
Crypto.com, the world’s leading cryptocurrency platform, pledged a two-year gift to back up the University of Pennsylvania’s (Penn) new Crypto Research Laboratory (NYSE:LH) Fund and finance research on cryptography and coding.In detail, the two-year research donation will be used to put up a new lab within Penn’s School of Engineering and Applied Science under the tutelage of Professor Brett Hemenway Falk. Moreover, the research will mainly be focusing on two key points: security and privacy in digital environments, and fostering trust and transparency.Prof. Falk, Research Assistant Professor in the Department of Computer and Information Science, is a familiar name when it comes to external partnerships that aim to identify societal problems and solutions powered by Computer Science.With thi …Continue reading on CoinQuora More
BANGKOK (Reuters) – Thailand has no need to raise interest rates following the Federal Reserve’s hikes in U.S. rates as domestic factors and the economic recovery will be the main issues determining policy, the central bank chief said on Thursday.The country’s external position remains strong with low foreign debt and high international reserves, Bank of Thailand Governor Sethaput Suthiwartnarueput told reporters on the sideline of a business seminar.Capital movements had not been a problem yet, he said.However, the BOT will closely monitor baht volatility which has been driven by external factors, including the Fed’s rate trend, as it may impact smaller businesses, Sethaput said.He declined to say whether the BOT had intervened over the baht that has been trading at its weakest level in almost five years against the dollar.The BOT has left its benchmark rate at a record low of 0.50% since May 2020. It will next review policy on June 8 and most analysts expect no imminent change.At the seminar, Finance Minister Arkhom Termpittayapaisith said fiscal and monetary policies were still working in step to support the economy.Sethaput said the BOT would ensure no disruptions to the economic recovery, which has been slow and uneven, with the vital tourism sector still lagging.The task ahead for the BOT “is to do whatever it takes to make the recovery uninterrupted and take off as smoothly as possible,” he said.Despite higher prices, there was no risk of stagflation since the economy is still growing, likely by more than 2% this year, helped by exports and tourism, Sethaput said.He sees the number of foreign tourists topping a previous forecast of 5-6 million this year, versus nearly 40 million in 2019.Last month, Sethaput told Reuters tourism might not return to pre-pandemic levels until 2026 and the BOT would focus on supporting growth, even as surging global prices force its peers to increase interest rates. The BOT is also due to review its 2022 growth forecast, currently at 3.2%, at the rate meeting. Sethaput said the state planning agency’s growth outlook of 2.5-3.5% this year was close to the BOT’s estimate. More
Georgieva told Reuters on the sidelines of a G7 finance ministers and central bank governors meeting in Germany that it is getting harder for central banks to bring down inflation without causing recessions, due to mounting pressures on energy and food prices from Russia’s war in Ukraine, China’s zero-COVID policies that have slashed manufacturing with lockdowns, and the need to reorder supply chains to make them more resilient.”I think what we need to start getting more comfortable with is, that may not be the last shock,” she said, noting that she stopped viewing inflation as a “transitory” one time shock when the Omicron COVID-19 outbreak took hold late last year. More
According to an official announcement, payments, powered by RippleNet financial technology, will help retail and business customers in Europe and Mexico to send and receive cross-border payments in real-time.Cross-border payments have traditionally been slow, complex and unreliable, said Sendi Young, the Ripple’s Managing Director for Europe. According to her, RippleNet’s On-Deman Liquidity (ODL) service will give European and Mexican customers a new way to grow and scale their business by tapping into global crypto liquidity.RippeNet’s ODL service allows using the XRP coin as a bridge currency of a payment flow. This means, that when a sender initiates a transaction in a local currency, the RippleNet converts the amount into the equivalent of the XRP on a crypto exchange. It instantly sends the funds into a partner exchange in a receiver’s country, where XRRs are converted back into the local fiat currency.A Lithuania-based FINCI payment service provider offers financial services for private and business customers across 29 countries, including the key markets in European Union and Mexico. The partnership is said to expand Ripple’s ODL service geography, which currently covers 25 markets including Singapore, Malaysia, Indonesia and Thailand. According to Ripple, the interest in blockchain-based payment services is increasingly growing in Europe, where nearly 60% of respondents at financial institutions in Europe are keen to use blockchain for payment transfers.Ripple, which is one of the first enterprise-grade blockchain and crypto payment service providers, accounted for $15 billion worth of RippleNet’s annualized payment volume in 2021.Continue reading on DailyCoin More
Despite concerns about the lack of comprehensive data protection regulations, India expects that a ban will allow the Reserve Bank of India, the country’s central bank, to acquire control over digital money.If the government’s plan to “regulate” virtual money is passed by parliament, India may outlaw the usage of all cryptocurrencies, with a few exceptions. The central bank intends to launch its cryptocurrency. People who “mine, buy, sell, trade-in, issue or transfer” digital money would face a two-year sentence under the bill.According to crypto businesses, the TDS (Tax Driven System) mechanism is used to combat tax evasion and track transactions. It is also the most significant danger to future crypto regulation.The government’s clarification will have little impact on the debates to launch legal action against the …Continue reading on CoinQuora More
Getty Images, a popular supplier of editorial images, video, and music, has signed a multi-year partnership with NFT ecosystem developer Candy Digital. The collaboration is said to launch a range of NFT products from Getty Images’ sizeable library, made up of nearly 500 million images. More
In an interview with Cointelegraph, Du explained that the collapse of Terra will affect the ecosystem by slowing down investor interest in crypto as an asset class. However, Du noted that this will only be a short-term effect. In the long term, the exchange co-founder explained that crypto like Bitcoin’s (BTC) demand as a hedge against fiat inflation will grow along with the advent of new applications for blockchain:Continue Reading on Coin Telegraph More
