Bitcoin (BTC) experienced a drop below $28,000 on Tuesday, just as markets prepared for the upcoming Federal Open Market Committee (FOMC) decision. During the session, BTC/USD slipped to an intraday low of $27,680.79, coming less than 24 hours after trading at a high of $28,626.28. This move nearly collided with its recent price floor at
Bitcoin
The Federal Open Market Committee (FOMC) is set to meet this Wednesday, with many economists predicting a 25 basis point (bps) increase in the benchmark interest rate. However, some market observers anticipate multiple rate cuts in the future due to recent banking industry turmoil in the US. While these speculations exist, there are analysts who
Crypto.com has launched a new AI-powered chatbot named Amy, which has been specifically designed to assist users in their quest to learn more about the cryptocurrency industry. Amy is capable of providing users with “near real-time information” on the latest developments in the crypto world, as well as insights into historical events that have shaped
Renowned economist and gold enthusiast Peter Schiff has issued a warning about the US economy, stating that it is facing a period of stagflation in which high inflation and high unemployment will both be present. In an interview with Fox News, Schiff explained that inflation had actually increased in Q1 of this year, despite a
Coinbase, one of the world’s leading digital currency exchanges, has received approval from the Bermuda Monetary Authority (BMA) to operate its cryptocurrency operations in Bermuda. This has led to the launch of Coinbase International Exchange, aimed at making Coinbase’s trusted products and services more accessible to users of digital assets who live outside of the
On May 2, 2023, Florida Governor Ron DeSantis signed a bill that aims to protect Floridians from the U.S. government’s environmental social governance (ESG) standards. The bill prohibits the use of Florida’s state funds for ESG standards and investments. DeSantis stated that he wants to prevent the implementation of an elite-imposed agenda that doesn’t align
Polkadot (DOT) experienced a second consecutive session of decline on Tuesday as the cryptocurrency market remained bearish. The DOT/USD dropped to as low as $5.61 on Tuesday, less than 24 hours after trading at a high of $5.82. This drop caused Polkadot to reach its weakest point since March 12 when the price was trading
Pacwest Bank, a regional bank based in Beverly Hills, California, experienced a sharp drop in its stock price following the release of its first-quarter earnings report. The bank’s shares plummeted by 35% on Tuesday at 11:00 a.m. Eastern Time, due to a “net loss available to common stockholders of $1.21 billion, or a loss of
The Kremlin Spokesman Dmitry Peskov informed reporters on Tuesday that Russia is closely observing the state of the U.S. economy as talks of possible debt default continue. Peskov stated that the U.S. economy, along with the global economy, is currently facing certain problems, with inflation expectations staying at a high level. He added that all