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Search for fiat alternative ‘perfectly reasonable,’ says StanChart CEO
Bitcoin (BTC) and other cryptocurrencies have a permanent role in financial markets, but other digital assets like central bank digital currencies (CBDCs) or nonfungible tokens (NFTs) could likely outperform crypto, according to Standard Chartered CEO Bill Winters Speaking at a Standard Chartered conference call, Winters echoed the “crypto is here to stay” narrative and said there’s a role for non-fiat currencies given the concerns about inflation. “Broadly, we’ve gone through a long period of low inflation, and we’ve got central banks experimenting in uncharted territory with very, very loose monetary policy,” Winters said, adding: “It’s perfectly reasonable for people to want an alternative to fiat currency.” While the debate over fully decentralized cryptocurrencies are more beneficial ...
Too early to talk about using crypto for oil trading, says Putin
Russian President Vladimir Putin believes that it’s “still premature” to use cryptocurrencies for settling trades of energy resources like oil. The Russian president discussed potential use cases of cryptocurrencies in a Thursday CNBC interview following a plenary session of the Russian Energy Week forum. According to a full interview text published on the Kremlin’s official website, Putin said that private cryptocurrencies “can act as a unit of account” but they are “very unstable.” “Cryptocurrency oil contracts? It’s too early to talk about it. It works for transferring funds from one place to another, but in terms of trading, especially when it comes to energy resources, it is still premature in my opinion,” the president stated. Putin went on to say that “everything evolves” an...
ViaComCBS partners with a crypto startup on NFTs
The NFT space has been getting a lot of attention in recent months, and more media companies are now entering the market Leading media company ViaComCBS is the latest to enter the non-fungible token (NFT) space as the sector continues to attract some of the biggest players in the entertainment sector. The company is looking to explore the growing NFT space and has partnered with RECUR, the NFT firm backed by billionaire hedge funder Steve Cohen. According to the announcement, the two companies will work together to create a platform that will allow users to trade NFTs tied to ViaComCBS’s brands and franchises. The partnership has sparked a lot of interest within the crypto space as it could possibly lead to the creation of NFTs for popular characters such as SpongeBob. Starting next year, ...
L.A.’s Hollywood Park Expands Workforce with 22 New Hires and Promotions
“We continue to add an accomplished and diverse group of leaders to our growing team,” said SoFi Stadium and Hollywood Park managing director Jason Gannon in a release. “We are working hard to bring SoFi Stadium and Hollywood Park to life, and we are excited to welcome these team members on our journey to deliver a global sports and entertainment destination.” For faculty and campus operations, Hollywood Park promoted Otto Bendict to svp of facility and campus operations, while Chan Onechanh becomes vp of facility operations. The department also welcomed Tina Suca as vp of event operations. Nate Goldstien was promoted to senior counsel in legal, while ...
Elton John Sets U.K. Chart Record With ‘Cold Heart’
With his latest feat, Elton eclipses the efforts of five other music greats – Elvis Presley, Cher, Cliff Richard, Michael Jackson and David Bowie – all of whom landed at least one Top 10 single in five different decades. Across his glittering career, Elton has been crowned on the Official U.K. Singles Chart on seven occasions. He could stretch that tally to eight with “Cold Heart,” which leads the midweek chart and is poised to usurp “Ed Sheeran’s “Shivers” after three weeks at No. 2. “Cold Heart” is lifted from John’s forthcoming collaborative studio album, The Lockdown Sessions, set for release Oct. 22. In his homeland, John has 32 Top 10 albums, with seven hitting the summit. His last LP to reach No. 1 was 2012’s Good Morning to the Night, Pnau’s mashup of his classic songs. The Officia...
Olympus DAO chases a new ATH after fresh bond offerings and partnerships
The rapidly evolving world of blockchain technology offers a wide range of approaches and tokenomic models aimed at solving the blockchain trilemma of creating a decentralized, stable and secure network. One tokenomic model that has seen several variants over the past year is the ‘rebase’ model, which is designed in a way so that token balances can fluctuate over time depending on changes in the token price and the supply in circulation. Olympus (OHM) is a rebase project that has caught the attention of many in the crypto space over the past six months — in large part thanks to the high yield offered to OHM stakers, which is currently above 7,000%. Olympus staking dashboard. Source: Olympus DAO What sets Olympus apart from other protocols in the market, including other rebase p...
BoE deputy gov: Regulators should pursue crypto as a ‘matter of urgency’
Jon Cunliffe, deputy governor for financial stability at the Bank of England, said the risks of a growing crypto market on the financial system are “relatively limited” at the moment but have the potential to grow very rapidly if regulators do not keep pace. In a speech to the Society for Worldwide Interbank Financial Telecommunication (SWIFT) on Oct. 13, Cunliffe said policymakers around the world have only just started to develop the framework needed to properly regulate digital assets but should pursue it “as a matter of urgency.” The deputy governor spoke about the risks that cryptocurrencies and stablecoins may pose when connected to traditional financial systems through individuals, financial institutions, hedge funds and banks. Given that digital assets are continuing to work their ...
Bitcoin bulls target prices above $58K ahead of Friday’s $820M options expiry
Everyone is talking about a six-figure Bitcoin (BTC) price now that the digital asset has broken out of its multi-month downtrend and confirmed that a bullish trend is in play. If Bitcoin happens to enter a parabolic move toward $110,000, that would finally match PlanB’s Stock-to-Flow model prediction. According to the pseudonymous analyst, the scarcity and valuation of gold and other precious metals and “Elon Musk’s energy FUD and China’s mining crackdown” are a few of the factors responsible for the past five months of 50% or higher inaccuracy in the model. Bulls’ hopes mostly cling to an exchange-traded fund being approved by the United States Securities and Exchange Commission. Currently, there are multiple requests pending review between Oct. 18 and Nov. 1, but the regulato...
New tickers and ARK filing shows Bitcoin futures ETF approval imminent: Analyst
Bloomberg’s senior ETF analyst says there are “good” signs that a Bitcoin ETF will soon be approved, pointing to Ark Invest filing for a Bitcoin futures ETF with an assigned ticker and Valkyrie updating its own ETF prospectus with a ticker. Cathie Wood’s Ark Investment Management LLC filed for a Bitcoin (BTC) futures ETF under the ARKA ticker, while Valkyrie has assigned its BTC futures prospectus with the BTF ticker. According to Bloomberg analyst Eric Balchunas, firms typically update their proposals when they have everything set and “ready for launch,” suggesting that Valkyrie may soon be given the green light by the U.S. Securities and Exchange Commission (SEC). Balchunas also pointed to Ark Invests’ Bitcoin futures ETF application on Oct. 13 in partnership with 21Shares and whiteAlpha...
White House makes Shore pick for EPA post official
But Sen. Dick Durbin (D-Ill.) lobbied Regan and the White House to instead select Shore. President Joe Biden cemented that choice on Tuesday. “Debra’s knowledge and experience on water infrastructure issues, the impacts of climate change, and the protection of the Great Lakes will help her lead Region 5,” Regan said in a statement. Shore said in a statement that she anticipated implementing Biden and Regan’s “bold plans to address climate change, to restore the agency’s foundational commitment to environmental justice and to ensure that decisions are made based on sound science and the law.” Chesapeake chief: Biden also named one other regional administrator pick: Adam Ortiz to run the Philadelphia-based Region 3, which covers Pennsylvania, Delaware, Maryland, D.C., Virginia and West...
Pennsylvania RGGI opponents mount tense last stand
Powerful groups like the Pennsylvania Manufacturers’ Association and the Pennsylvania Independent Oil and Gas Association, along with coalitions like the conservative Citizens Alliance of Pennsylvania and the Power PA Jobs Alliance that links labor unions, businesses and consumers have mounted a last stand in opposition to RGGI. The groups are urging their members to write letters expressing their resistance to the program and support for bills like Senate Bill 119, which passed by a veto-proof margin in the state Senate and would require Gov. Wolf to seek the legislature’s permission before entering RGGI. “When you start explaining to (people) and going into the details (of RGGI), it goes from them simply not caring about it to being scared,” said Mark Hilliard, the president of the India...
Catch the Bitcoin dip? BTC price pares losses with a fresh surge to $57K
Bitcoin (BTC) was back at $57,000 on Oct. 13 as a classic move left hopeful traders liquidated to the tune of $200 million. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Trader sees parallels to August price action Data from Cointelegraph Markets Pro and TradingView showed BTC/USD reaching highs of $57,250 on Bitstamp, up almost $3,000 in under three hours. Reminiscent of multiple surges over the past week, Bitcoin thus gained 5.5% on the day, lining up a rematch of five-month highs. Those looking to short further than $54,260 were thus disappointed amid a barrage of bullish optimism. “This correction on Bitcoin is nicely comparable to the price action in August,” Cointelegraph contributor Michaël van de Poppe commented. “Just a minimal correction for a...
