Bitcoin Rises as Fed Hints at Possible Rate Cut in July Meeting Minutes
Bitcoin (BTC)'s price has increased following the release of the U.S. Federal Reserve's July meeting minutes, and is currently trading at $60,271.
Bitcoin (BTC)'s price has increased following the release of the U.S. Federal Reserve's July meeting minutes, and is currently trading at $60,271.
-- Gold prices fell from record highs in Asian trade on Thursday as a rally in the yellow metal cooled, with market focus remaining on U.S. interest rate cuts and brewing fears of a recession.
-- Most Asian currencies weakened on Thursday as the dollar rose from seven-month lows amid some bargain buying, although traders remained largely biased against the...
-- Most Asian currencies weakened on Thursday as the dollar rose from seven-month lows amid some bargain buying, although traders remained largely biased against the greenback on expectations of interest rate cuts.
Fiscal dominance occurs when government borrowing needs dictate monetary policy, often leading to higher inflation if the central bank is required to finance large deficits.
According to Odaily, the Bank of Korea has decided to keep its benchmark interest rate unchanged in an effort to curb rising housing prices. This decision marks the 13th consecutive meeting where the central bank has maintained the same rate, the longest period of stability since 2008. The central bank also adjusted its forward guidance to a more moderate stance, paving the way for potential policy shifts in the coming months.Following the government's announcement, the Korean won and the yield on three-year government bonds saw slight declines. The central bank's committee has been cautious about lowering rates, fearing that any indication of a rate cut could further fuel housing price increases in Seoul and its surrounding areas. Thursday's statement leaned towards a dovish tone, as the central bank removed its previous commitment to keep rates stable for an extended period, suggesting that a rate cut may be approaching.
-- Japanese manufacturing activity shrank in early August as the country’s biggest automakers struggled with disruptions in output, while services activity grew...
According to Odaily, a federal judge in California has ruled to make public the detailed disclosure statement of X Holdings, the parent company formerly known as Twitter, and X.ai, an artificial intelligence startup founded by Elon Musk in 2023. This decision will reveal the list of shareholders for both entities. In 2022, Musk acquired Twitter for $44 billion, privatized the company, and laid off approximately three-quarters of its workforce. Last year, a group of former Twitter employees sued X, seeking payment for arbitration fees arising from disputes with their former employer. Freelance journalist Jacob Silverman, with the assistance of the Reporters Committee for Freedom of the Press, intervened in the case to ensure the disclosure was made public. Despite arguments from Musk and X's lawyers that X Holdings does not disclose information about its owners or shareholders as a matter of policy and considers such information confidential, the judge was not swayed by these confidentiality claims. Reports indicate that several investors were involved when Musk acquired X Holdings, including Twitter founder and former CEO Jack Dorsey, who transferred over $1 billion worth of Twitter stock to the company, Oracle co-founder Larry Ellison, and Silicon Valley venture capital firms Andreessen Horowitz (a16z) and Sequoia Capital. However, Musk has never disclosed a complete list of investors or the company's structure. X Holdings is now required to submit the documents to the court by September 4.
Sen. Cynthia Lummis said the window is closing, but it's not shut yet.
Nearly half of all corporate political contributions in the 2024 election cycle came from cryptocurrency companies, according to a Wednesday report from corporate influence watchdog Public Citizen.