President Joe Biden is set to sign an executive order Thursday meant to explore the possible creation of a U.S. Central Bank Digital Currency (CBDC). This is a digital currency that would be issued by a central bank like the Federal Reserve unlike cryptocurrencies like bitcoin which are not controlled by a single entity. The…
Biden Issues Executive Order Paving the Way for a Federal Digital Currency
March 9, 2022
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Euro Rises 0.5 Percent Against the Dollar Ahead of ECB
LONDON—The euro and other European currencies edged up on Wednesday ahead of this week’s central bank meeting. Sterling rose 0.3 percent against the dollar to $1.3134. “European currencies have been under heavy pressures for the past couple of weeks and some of these valuations have begun to look stretched,” said Jane Foley, head of FX…
US Charges 2 Siblings in $124 Million Cryptocurrency Fraud
NEW YORK—U.S. authorities on Tuesday filed criminal charges against a cryptocurrency executive and civil charges against him and his sister, accusing them of defrauding retail investors out of millions of dollars with a digital token known as Ormeus Coin. In papers filed in Manhattan federal court, the Justice Department said John Barksdale lied about the…
Battered Euro Hits Lowest Since 2016 Versus Sterling, Oil Surge Bites
March 3, 2022
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Business & EconomycommoditiescrisiscryptocurrencyeuroEuropeForexMarketsRussiaRussia-Ukraine WarstocksUkraineWorld
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LONDON—The euro slid to its lowest level in almost six years against Britain’s pound and was pinned near 21-month lows versus the dollar on Thursday, as a fresh surge in energy prices heightened worries about the euro area economic outlook. With Brent crude hitting a nine-year high above $119 per barrel, a dash for resources…
Coffee Traders Seeking Advance Payment in New Deals With Russia
March 2, 2022
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NEW YORK—Coffee traders are seeking advance payment in any new deal to sell beans to Russia as Western sanctions hit the financial system of the world’s sixth largest importer. Traders in Brazil, the world’s largest exporter and number 1 supplier to Russia, said they have added the country to a list of risky and sanctioned…
Stocks Fall, Oil Tops $110 a Barrel as Ukraine War Rages
March 2, 2022
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BEIJING—Global stock markets slid Wednesday and oil prices surged more than $7 per barrel as Russian forces stepped up attacks on Ukrainian cities. Frankfurt, Shanghai, Tokyo, and Paris declined as President Vladimir Putin’s invasion fed fears of global economic turmoil. London opened higher. The war is adding to worries about global economic growth as the…
Euro Crawls Back as Market Weighs Impact of Sanctions, Invasion
LONDON—The euro edged up on Friday following Thursday’s sharp declines in the wake of Russia’s invasion of Ukraine. The dollar edged lower against most currencies as markets walked back some of the tumultuous moves from the previous day. Russia’s rouble also recovered some ground, trading at around 83.5 per dollar, having hit a record low…
Coinbase Pays out $250,000 Bounty to Ethical Hacker Who Prevented Nuking of Entire Crypto Market by Reporting Critical Flaw
February 24, 2022
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An ethical hacker, who potentially saved the entire cryptocurrency market from disaster by discovering a flaw in Coinbase Global Inc. platform, has been paid a reward by the latter. What Happened The hacker, who goes by the handle “Tree of Alpha” on Twitter, said they were paid $250,000 by Coinbase as its largest-ever bounty. A flaw…
‘Crypto Winter’: Ethereum Co-Founder Vitalik Buterin Celebrates Bear Market
The cryptocurrency sector enduring a potential bear market is welcoming news, says Vitalik Buterin, the co-founder of the Ethereum blockchain. Speaking in a recent interview with Bloomberg, Buterin purports that the industry would benefit from entering another “crypto winter.” So far this year, token prices have experienced an immense slide. “The people who are deep…
Euro Volatility Jumps as Russia Orders Troops to Ukraine Regions
LONDON—The euro one-month volatility level jumped on Tuesday to its highest in 15 months, as the single currency was hit by rising risk aversion amid a gas price surge and escalation of tensions in Ukraine. Russian President Vladimir Putin ordered troops to two breakaway regions in Ukraine, sending the euro one-month volatility to its highest…
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