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Some Americans’ fortunes soared during the pandemic. Some lawmakers see lasting lessons.
That’s fueling a debate over what role the government should continue to play in reshaping Americans’ livelihoods. Democrats say the gains offer a case study in what U.S. society could look like if Congress vastly expanded the social safety net — an argument that many are making as lawmakers weigh whether to shell out another $3.5 trillion on programs that would limit families’ child-care expenses, make health insurance more affordable and offer permanent tax breaks to families with kids, among other provisions. “You have to concede that these changes are making a difference — that we are inching up a bit, and that there is a discernible reduction of poverty,” said Rep. Danny Davis, an Illinois Democrat who chairs the House Ways and Means subcommittee on worker and family support. “We are ...
Americans’ fortunes soared during the pandemic. Some lawmakers see lasting lessons.
That’s fueling a debate over what role the government should continue to play in reshaping Americans’ livelihoods. Democrats say the gains offer a case study in what U.S. society could look like if Congress vastly expanded the social safety net — an argument that many are making as lawmakers weigh whether to shell out another $3.5 trillion on programs that would limit families’ child-care expenses, make health insurance more affordable and offer permanent tax breaks to families with kids, among other provisions. “You have to concede that these changes are making a difference — that we are inching up a bit, and that there is a discernible reduction of poverty,” said Rep. Danny Davis, an Illinois Democrat who chairs the House Ways and Means subcommittee on worker and family support. “We are ...
Top 5 cryptocurrencies to watch this week: BTC, AVAX, ALGO, XTZ, EGLD
China has attempted to stifle the crypto sector’s growth on several occasions in the past 12 years but barring a minor blip, the blanket bans on crypto-commerce have not altered the long-term growth of cryptocurrencies. This shows that no one country, even if it is the second-largest economy in the world, can halt the emergence and growth of cryptocurrencies. Deutsche Bank analyst Marion Laboure said in an update on the bank’s website that Bitcoin (BTC) is likely to “remain ultra-volatile in the foreseeable future” as most people buy it either for investment or for speculation rather than using it as a medium of exchange. However, Laboure believes that Bitcoin could become “the 21st century’s digital gold” and the trend could continue for centuries with no major control by the government. ...
Ethereum alternatives and layer-1 solutions see steady gains in September
The competition among layer-one (L1) smart contract platforms has been on the rise in the past couple of months as traders and developers continue to embrace Ethereum (ETH) network alternatives that offer faster transaction times and lower fees. According to a recent report from Delphi Digital, the price of Ether has remained relatively flat over the past month while competitors like as Solana (SOL) and Fantom (FTM) have seen their prices rally more than 200% during the same time. Relative performance of L1 tokens over the past 30 days. Source: Delphi Digital One of the drivers of the rallies seen in Fantom (FTM), Avalanche (AVAX) and Terra (LUNA) is the fact that each has launched a variety of mulit-million dollar funding initiatives designed to attract developers, investors and new liqui...
The next generation of data-driven healthcare is here
In the past 60 years, the life expectancy of the average newborn has increased by nearly 20 years — from 52.5 to 72, as of 2018. We’ve seen an incredible wave of technological innovation in this time: The introduction of the internet, medical breakthroughs and an enhanced understanding of public health initiatives have transformed the course of human life. And with new technologies like blockchain and artificial intelligence now taking the stage, we know that even more radical transformation is coming. These disruptive technologies are paving the way for both longer and healthier lifespans. To show you just how much healthcare has advanced thanks to these technologies, I want to highlight a case study of two unique companies, Insilico Medicine and Longenesis. Together, they show how the de...
Ethereum price gets back to $3K as institutional investors pile into ETH futures
Ethereum’s native token Ether (ETH) staged a rebound on Sept. 26 following a massive decline earlier this week that saw its prices plunging to as low as $2,651 on Coinbase. The ETH/USD exchange rate rose 3.63% to hit an intraday high of $3,030. The upside move amounted to a 14.3% upside retracement from the pair’s week-to-date low at $2,651, showing that traders attempted to retain their bullish bias despite potential headwinds ahead. Last week, Ether prices fell due to a flurry of issues arising from China. On Monday, traders dumped crypto assets en masse after a tumult in China’s heavily indebted property market prompted a selloff across global stock markets. A rebound move ensued later in the week but met with another selloff on Friday after People’s Bank of Chin...
14 Things That Changed (or Didn’t) at Farm Aid 2021
Here are 14 things that changed — or didn’t — at Farm Aid 2021. Neil Young bowed out Citing his concerns with “the COVID pandemic surging,” Neil Young announced Aug. 18 that he would not join his fellow Farm Aid board members — Nelson, John Mellencamp, Dave Matthews and Margo Price — at this year’s show, after playing every Farm Aid since it launched in 1985. “I don’t want to let anybody down, but still can’t shake the feeling that it might not be safe for everyone,” Young said in a statement. “While I respect Willie, John and Dave’s decisions to stick with it and play, I am not of the same mind. It is a tough call.” He added: “We will be back. There is much work to do together.” Proof of vaccination or COVID tests were required Farm Aid in mid-August announced...
Chinese regulators unite forces to crack down on crypto
The Chinese government is getting more serious about cracking down on the cryptocurrency industry as state authorities are bringing forces to combat crypto operations in the country. The People’s Bank of China (PBoC) officially announced on Friday a set of new measures to fight against crypto adoption in China, including promoting stronger inter-departmental coordination in cracking down crypto activity. 10 Chinese state authorities, including the PBoC, the Cyberspace Administration of China and the Ministry of Public Security, have established a “coordination mechanism” to prevent financial players from participating in any cryptocurrency transactions. According to the announcement, the involved authorities and institutions have completed significant improvements to crypto monitoring...
Blockchain will transform government services, and that’s just the beginning
Governments are tasked with bringing fair and efficient services to the public. Unfortunately, providing transparency and accountability often results in a reduction in efficiency and effectiveness or vice versa. Governments are usually forced to choose to improve one at the cost of the other. On rare occasions, technology comes along that enables governments to improve fairness and efficiency. The move from paper-based record keeping to computer databases was one such technology. The internet was another. Blockchain is the next. Like the internet before it, blockchain will not only improve how the public interacts with government services, it will have broad economic and social implications. Related: Is crypto approaching its ‘Netscape moment?’ How government can use blockchai...
Bitcoin could hit $37K but trader says BTC price top will be ‘number you can’t comprehend’
Bitcoin (BTC) sealed another $40,000 retest on Sept. 26 as the battle for the weekly close raged on. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC “unlikely” to linger below $40,000 Data from Cointelegraph Markets Pro and TradingView showed BTC/USD dipping to $40,800 overnight, following an earlier unsuccessful attempt by sellers to flip $40,000 back to resistance. With stubborn conditions keeping BTC price action in a narrow range, attention on Sunday focused on where the longer-term bottom might be. Analysts also stayed conspicuously bullish on what might come afterwards. In a series of tweets reflecting on the broader state of Bitcoin, popular trader Pentoshi eyed $37,000 as a potential floor. “This looks healthy on the HTF’s and is likely ...
DeFi and Web 3.0: Unleashing creative juices with decentralized finance
Decentralized technologies are starting to revolutionize the world of finance, with cryptocurrencies applied in different ways to recreate traditional financial instruments. However, since cryptocurrencies aren’t backed by anything but people’s faith in them, they are extremely volatile. That means, when it comes to loaning value with crypto, neither party can be sure that they will get a fair deal. There needs to be a way to secure the value of the assets loaned, which can be done by backing them up with a value in the real world. Here is where the tokenization of real assets comes in. This process is pretty straightforward when we consider tangible assets like a building or gold bars, but what about intangible assets like intellectual property? Related: Understanding the systemic shift f...
Steve Strange, Co-Founder of X-ray Touring, Dies at 53
The talent agency added: “A universally known, hugely respected and loved character — if you hadn’t already seen him at a gig or festival, you’d most certainly hear his infectious and infamous laugh. Steve had the best ears in the agency business, signing and developing the careers of countless world class Artists from small club venues to vast international multi-stadium tours. He will always be remembered with love by his friends & colleagues at X-ray and the world over.” Over the years, Strange’s client roster at X-ray included such artists as Coldplay, Eminem, Snow Patrol, Chance the Rapper, Queens of the Stone Age, and many others. He also operated Strange World Management, overseeing acts like Lightning Seeds, Last in Line Wayward Sons, FM, Equador and Swe...
