The Art of Making CryptoCurrency
On Friday, credit rating agency Moody’s downgraded the United States’ long-term credit rating from Aaa to Aa1, pointing to a decade of mounting debt and escalating interest payment pressures. The development lands amid intensifying recession concerns, turbulent trading conditions, and disjointed activity across bond markets. Triple-A No More—Moody’s Strips U.S. of Top Rating Amid Exploding […] Source link
Read More
I have just finished reading Debt: The First 5000 Years by anthropologist David Graeber. The book takes a look at the history of money, debt, and how they relate to societal structures from a lens that departs heavily from the conventional wisdom of economic thinking. Conventional wisdom paints a picture of people inefficiently bartering goods and services directly for each other, and money naturally arising as a result of the problems inherent in this. Graeber eviscerates this narrative looking at anthropological history. Primitive communities simply shared their resources freely with…
Read More
Cryptocurrency exchange Coinbase will begin buying back up to $150 million of its 2031 senior notes for 64.5 cents on the dollar, a discount of 35.5%. According to the Aug. 7 announcement, the tender offer will last until Sept. 1, with an early premium of three cents on the dollar on top of the regular purchase price. The 2031 senior notes have a coupon rate of 3.625% per annum and a total principal balance of $1 billion. Last month, the exchange redeemed $65 million in convertible notes at a discount…
Read More
The number of staked Ether (ETH) in May reached a new all-time high of 2.96 million ETH, approximately 2.46% of the total supply. The amount of ETH staked in May does not include withdrawals and is more than twice as big as the second-highest amount registered in February 2022. Monthly amount of staked Ether since November 2020. Source: Dune The significant surge in staked ETH comes within a month of the Shapella upgrade on April 12, allowing validators to withdraw their staked ETH after two years. Many then believed the heavy…
Read More
Jamie Dimon, CEO of JPMorgan, stated that he favored abolishing the debt limit, giving the government the faculties to extend its debt without congressional action. Dimon also stated that even the drama surrounding the build-up to extending or not extending the debt limit could cause panic, as the U.S. economy is foundational for the world. JP Morgan’s Jamie Dimon Favors an Unlimited Debt Ceiling Jamie Dimon, CEO of JPMorgan, one of the largest banks in the world, has given his opinion when it comes to the issue of the congressional…
Read More
English
Arabic
Chinese (Simplified)
Dutch
French
German
Italian
Portuguese
Russian
Spanish