Category: Reddit Post

Bipolar world: the struggle between USDC and USDT

While Tether expresses concerns over new regulation, Circle becomes official EU stablecoin issuer under MICA Circle has received a USDC and EURC license under MiCA, becoming the first stablecoin issuer to comply with the new EU legislation. The event marks a new stage in the development of the European cryptocurrency market, but for most USDC and EURC users, no significant changes are expected. Circle stablecoins will continue to be available and easy to use around the world. Where are the other issuers? We are waiting for the future licensing of Tether, the USDT issuer, but it seems that the company has other plans and instead of immediately adapting to European regulations, the company has focused on the BRICS and Pacific Rim markets. In particular, Tether has introduced an innovative solution for residents of the Philippines that allows them to make social security contributions using cryptocurrencies. https://preview.redd.it/gv2zkxp3yy9d1.png?width=1280&format=png&auto=webp&s=0776e214382509b15c5a5528807904797fed5913 submitted by /u/dll_crypto [link] [comments]

The Reverse Midas Touch

An SEC filing has unveiled that Keith Gill, famously known as ‘Roaring Kitty’ on social media, holds a substantial $245 million stake in the online pet retailer Chewy (CHWY). This investment grants him a 6.6% share in the company, making him the third-largest shareholder. Following the announcement, Chewy’s stock surged by up to 20%. Last week, Chewy shares experienced a rollercoaster ride after Gill posted an image of a cartoon dog resembling Chewy’s logo on the social media platform X. The shares soared by as much as 34% on Thursday before settling slightly lower by the end of the day. Gill, renowned for his advocacy of GameStop, has been actively influencing the video game retailer’s trading in recent months. In mid-June, he revealed a holding of 9.001 million GameStop shares after divesting his extensive call options position. It’s unclear whether he sold his GameStop shares to finance the Chewy investment. Anyway, GameStop shares dropped over 5% following the news. Source: https://www.cnbc.com/2024/07/01/chewy-shares-rally-20percent-after-sec-filing-reveals-roaring-kitty-keith-gill-has-6point6percent-stake.html MT5 Pepperstone Roaring Kitty YouTube Live Stream on June 7th, 2024 Unlike the previous crusade known as the GameStop Saga, Keith’s current revelations have a very short-term speculative impact on assets, even resulting in some drop of price. Can we hope for a second season of the Saga u/TheRoaringKitty? submitted by /u/FXgram_ [link] [comments]

Fed’s Latest Moves: Progress and Potential Rate Cuts Ahead

The Federal Reserve’s efforts to control inflation are showing progress, with the PCE index cooling to 2.6% and consumer spending growing moderately. Key points of what happened: Cooling Inflation: The PCE index increased by 2.6% in May, down from 2.7%, indicating cooling inflation. Moderate Consumer Spending: Consumer spending grew moderately, further evidence of slowing price increases. Fed’s Interest Rate Strategy: The Fed has maintained borrowing costs at 5.3% and is considering future rate cuts based on economic data. Labor Market Concerns: Despite strong hiring, signs of a weakening labor market are emerging, with job openings down and unemployment slightly up. Economic Cooling: Officials are cautious about the broader economic slowdown and its potential impact on the labor market. What do you think — is this just another FED’s “say something about cutting interest rates, whatever happens” or we will see something in real action? submitted by /u/Aftermebuddy [link] [comments]

The first effects of high rates: Americans’ savings are exhausted.

According to the Federal Reserve Bank, the savings cushion that helped Americans weather high prices in recent years is now completely depleted, which will shake the resilience of consumer spending. On the other hand, the labor market is growing and is currently keeping consumers afloat. But its prospects for improving the overall situation are also in question, as household debt has reached record levels and more Americans are falling behind on their credit card payments. One-third of households in a recent Census Bureau survey reported difficulty paying for ordinary expenses, and savings rates have declined. This situation is hard for the economy to take, as people are spending less and being more careful with their money. So, in your opinion, do you think we will see an economic downturn in the coming year? https://preview.redd.it/4wi1dqkz4s9d1.png?width=1280&format=png&auto=webp&s=1e264d527e6846852518005f845a31dcf9d30acf submitted by /u/dll_crypto [link] [comments]

Nigerian official advocates blockchain, AI against illicit financial flows

The financial watchdog chair said that if recovered, the funds could significantly enhance infrastructure, healthcare and education across the continent. The chairman of Nigeria’s Economic and Financial Crimes Commission, Olanipekun Olukoyede, has highlighted blockchain technology and artificial intelligence (AI) as tools to address illicit financial flows (IFFs) in Africa. According to local media, Olukoyede highlighted the $88.6 billion lost annually in African countries due to IFFs at the Pan-African Conference on Illicit Financial Flows and Taxation. Fighting illicit financial flows The conference is the premier annual forum of the African Union. It brings together stakeholders across Africa to discuss IFFs and taxation. This conference facilitates sharing insights, strategies and best practices to address the challenge of IFFs. The financial watchdog chair said establishing robust legal frameworks and capacity building at national, regional and international levels is essential. Olukoyede advocated adopting advanced technologies such as data analytics, blockchain and artificial intelligence to enhance asset tracking and recovery efforts. The financial watchdog chair said that if recovered, the funds could significantly enhance infrastructure, healthcare and education across the continent. He cited successful recoveries, such as the $311 million repatriated from the United States in 2020 linked to former Nigerian dictator Sani Abacha, as an example of practical international cooperation. According to Olukoyede, effective anti-corruption efforts require international pressure to ensure cooperation from tax havens and low-tax jurisdictions, stressing the need for strong advocacy. Blockchain and AI in Nigeria Nigeria has recently taken steps to embrace blockchain technology and AI. In May, Nigeria’s National Information Technology Development Agency (NITDA) restructured the National Blockchain Policy Steering Committee (NBPSC) to reassess the policies guiding the implementation of the country’s National Blockchain Policy. The review forms part of efforts to stay abreast of blockchain innovations and expand its reach by involving additional stakeholders, promoting comprehensive adoption and successful execution. In April, NITDA advocated incorporating artificial intelligence into Nigeria’s security framework to improve outcomes. The agency’s Director General, Kashifu Inuwa, said the security and IT sectors can use technologies such a AI and the Internet of Things (IoT) to improve the security sector. The NITDA is promoting AI growth in Nigeria through initiatives like the National Centre for Artificial Intelligence and Robotics and developing a National Artificial Intelligence Policy. submitted by /u/Lor1al [link] [comments]

Crypto ATM Installations Rise in 2024, Adding 2,564 New Machines Globally

In June, the number of cryptocurrency automated teller machines (ATMs) experienced a slight decrease, despite the installation of 377 new ATMs during the month. As of January 2024, a total of 2,564 crypto ATMs have been deployed worldwide. Throughout 2024, there has been a steady increase in the number of crypto ATMs, despite a slight decline observed in June. During the past 11 months leading up to the current count of 38,279 ATMs globally, an addition of 5,808 machines has been recorded since July 2023. June saw a minor reduction of 115 crypto ATMs, but this was followed by the installation of 377 new machines. To surpass the 2022 record, an estimated 1,262 more bitcoin ATMs would need to be installed. The primary operators in the crypto ATM market are Bitcoin Depot, Coinflip, and Athena Bitcoin. Bitcoin Depot leads with 7,543 machines, followed by Coinflip with 5,057, and Athena with 2,756 ATMs. The United States hosts the majority of the world’s crypto ATMs at 82.7%, while Canada accounts for 7.7%. The global expansion of crypto ATMs underscores robust demand for localized financial services. Despite a brief dip in June, the subsequent installation of 377 ATMs highlights ongoing growth. Major operators continue expanding their networks, playing pivotal roles in advancing the industry. What do you think about the crypto ATM growth since January? Share your thoughts and opinions about this subject in the comments . submitted by /u/Lor1al [link] [comments]

How To Trade OIL – Risk Management Calculation

Oil is a very attractive asset for investors from the point of view of potential profitability; still strict risk management is required here due to the high asset volatility, as well as the product understanding. There is no pip calculation basis for commodities trading. The Bid & Ask price you see is the price for one barrel of oil. What needs to be checked before you start trading OIL: Does the contact have expiry date? If yes, plan accordingly. At the date of expiry the trade will be automatically closed or rollovered with the automatic new contract price adjustment. Check with your Broker first and refer to the Contract Expiration Calendar on a website. Check the minimal position and the leverage available. At some Brokers the leverage might be just 1:10 so the trading can be affordable with a properly balanced account only. Learn the risk management calculation. Let’s take CRUDE OIL (WTI) as the example with 1:10 leverage and the price 80 USD per barrel. RISK MANAGEMENT CALCULATION: In this example I will take the case when 1 contract of CRUDE OIL equals 100 barrels but check twice – it might be 1000 barrels at some platforms (reflected in Specification). 0.01 contract position size = 1 barrel 80.00 x 1 barrels/ 10 (your leverage) = 8 usd It means that it will take 8 usd as the margin requirement from your balance. Opening 0.01 contract position means that you buy/sell 1 barrel. Price movement just on 1 USD can potentially bring you 1 USD profit as well as the same drawdown. 0.10 contract position size = 10 barrels 80.00 x 10 barrels/ 10 (your leverage) = 80 usd It means that it will take 80 usd as the margin requirement from your balance. Opening 0.10 contract position means that you buy/sell 10 barrels. Price movement just on 1 USD can potentially bring you 10 USD profit as well as the same drawdown. 1.0 contract position size = 100 barrels 80.00 x 100 barrels/ 10 (your leverage) = 800 usd It means that it will take 800 usd as the margin requirement from your balance. Opening 1.0 contract position means that you buy/sell 100 barrels. Price movement just on 1 USD can potentially bring you 100 USD profit as well as the same drawdown. NOTE: Do not forget about the Market 3-day swaps that are taken on Fridays. Always check Contract Specification in the Market Watch before the new asset trading. Where to trade? You know 👉 https://track.pepperstonepartners.com/visit/?bta=38408&brand=pepperstone submitted by /u/FXgram_ [link] [comments]

Incredible

submitted by /u/XGramatik [link] [comments]

Falling new home sales: a warning of a broader economic downturn

According to recent publications, in May, new home sales in the United States fell to 619 thousand, down 11.3% for the month and 16.5% for the year. The volume of unfinished housing sales in May decreased by 2.1%, falling below the recessionary low of April 2020. This is the lowest level since records began in 2001. The reason for this dynamics is the rise in prices. Particularly interesting is that the average price of an existing home has risen above the average price of a new home. This has happened only once since 2005. Another sign that the housing market is starting to stall, which calls into question the broader economic outlook. How will we survive the recession? https://preview.redd.it/fmfld1j7ud9d1.png?width=1280&format=png&auto=webp&s=2ec668d7eb9aceb8889212c3b8f17dba9e7686dc submitted by /u/dll_crypto [link] [comments]

Most Talkable Assets Of The Week

💻 SMCI – Super Micro Computer is the most discussed potential addition to the Nasdaq 100 🥾 NKE – Nike fell into the abyss after earnings 💊 NVO – Pregnancy as side effect of Novo Nordisk’s saviors of humanity from obesity 🥇 DJT – Trump Media & Technology Group rose 7.7% following the first presidential debate Thursday evening 📈 SOL-USD – Solana’s price is jumping after VanEck filed for a Solana EFT in the US called the VanEck Solana Trust Quote of the week: ‘For a security to be mispriced, someone else must be a damn fool. It may be bad for the world, but not bad for Berkshire.’ – Charlie Munger Is there anything missing? Anyway, have a great weekend everybody. submitted by /u/FXgram_ [link] [comments]

Bolivia officially legalizes crypto payments for bank

Bolivia has lifted the ban on Bitcoin and other cryptocurrencies. On June 26, the Central Bank of Bolivia (BCB) officially announced that banks can now conduct transactions with crypto. This regulatory change revokes Board Resolution N°144/2020, which had been in place since December 2020. This regulatory adjustment results from a collaboration between the Central Bank of Bolivia, the Financial System Supervisory Authority (ASFI), and the Financial Investigations Unit (UIF). The update aligns Bolivia with the recommendations of the Latin American Financial Action Task Force (GAFILAT), which has been pushing for adaptations to crypto. Although cryptocurrencies can now be traded through authorized electronic channels, the Central Bank of Bolivia has reminded citizens that cryptocurrencies are not considered legal tender. This means there is no obligation for businesses to accept them as payment. The BCB emphasized this point to ensure the public understands the limitations and legal status of cryptocurrencies in Bolivia. In addition to lifting the ban, the BCB has announced plans to incorporate information on the risks associated with cryptocurrencies into its Economic and Financial Education Plan. This aims to educate the public on how to safely handle cryptocurrencies and understand the potential risks involved. Bolivia hated crypto The ban lift comes after years of stringent regulations. In 2014, Bolivia’s Financial System Supervision Authority issued a resolution prohibiting the use of crypto. This ban cited a lack of consumer protection and the potential for money laundering. Again, in 2022, the Bolivian central bank prohibited the banking sector from using, marketing, or transacting cryptocurrency assets. The reason given was to protect the public from “risks, frauds, and swindles” and to prevent “economic losses.” This regulatory change occurs against a backdrop of political and economic turmoil. Recently, Bolivia experienced a dramatic coup attempt. Soldiers took over La Paz’s central square and rammed the presidential palace with an armored truck. The coup, led by rogue General Juan Jose Zuniga, was put down as quickly as it began. Zuniga was arrested on live TV after realizing he had little support for his actions. submitted by /u/Lor1al [link] [comments]