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In light of Twitter’s rebranding, Elon Musk says users can expect to conduct their “entire financial world” via the X platform in the coming months.
Elon Musk shared an update for users with more information on Twitter's rebranding to X, saying it’s part of a larger plan to incorporate financial services on the platform.
In an interview, Musk said that if executed correctly, X has the potential to encompass “half of the global financial system” with plans for banking, payments and more. Some have likened the potential of the X app to be akin to China’s WeChat.
A few weeks after, CNBC reported that Twitter would introduce a new feature, in partnership with fintech platform eToro, that would allow users to trade cryptocurrencies and stocks on the platform.
Russian President Vladimir Putin has signed into law a bill that will grant legal tender to a “digital ruble” amid severe Western sanctions and rising inflation brought on by the war in Ukraine.
Under the bill, Putin has granted legal authority to the Bank of Russia—the country's central bank—to serve as the platform operator for the central bank digital currency (CBDC). The bill also provides legal definitions for users and specifies how banks will operate under the new framework.
Over the last two weeks, both houses of Russia's parliament—the State Duma and the Federation Council—passed the bill, and sent it along for Putin's signature. With it, the central bank can begin starting tests of the CBDC as of August 1.
At least three Federal Reserve outposts are actively seeking candidates to join their teams for CBDC research and improving current systems
Jobs related to central bank digital currencies, or CBDCs, are popping up across the globe.
According to a recent survey, 93% of central banks expressed interest in exploring CBDCs, with a few considering issuance within the next three years.
Three fully-fledged CBDCs are operating in the wild right now: the eNaira in Nigeria, the Sand Dollar in the Bahamas and JAM-DEX in Jamaica.
People around the world are getting their eyeballs scanned in exchange for a digital ID and the promise of free cryptocurrency, shrugging off concerns among privacy campaigners and data regulators.
Founded by Sam Altman, the CEO of ChatGPT developer OpenAI, the Worldcoin project says it aims to create a new "identity and financial network" and that its digital ID will allow users to, among other things, prove online that they are human, not a bot.
The project launched on Monday, with eyeball scans taking place in countries including Britain, Japan and India.
At a crypto conference in Tokyo, people on Tuesday queued in front of a gleaming silver globe flanked by placards stating: "Orbs are here." Applicants lined up to have their irises scanned by the device, before waiting for the 25 free Worldcoin tokens the company says verified users can claim.
In an exciting collaboration, Ripple, the blockchain technology company, has joined forces with the Republic of Palau for a groundbreaking pilot project centered around a U.S. dollar-backed stablecoin. Named the Palau Stablecoin (PSC) or ‘Kluk,’ this digital currency will be built on the XRP Ledger and initially distributed among government employees.
The partnership between Ripple and Palau is being hailed as a significant stride towards financial innovation and improved financial access for the citizens of Palau. President Surangel Whipps Jr. expressed his commitment to this transformative venture in a recent press release, emphasizing the numerous potential benefits that the digital currency initiative could bring.
Developed in close collaboration with Ripple, the PSC aims to digitize the US Dollar, utilizing Ripple’s Central Bank Digital Currency (CBDC) Platform. This controlled pilot project, if successful, has the potential to revolutionize payment methods for goods and services within Palau, as per Jay Hunter Anson from the Palau Ministry of Finance.
Senior Bloomberg commodities analyst Mike McGlone is warning of a financial reset amid an environment of tightening monetary policy.
McGlone says in a Wolf of All Streets podcast that a major financial recalibration looms as central banks across the globe raise rates.
Biggest Financial Reset of Our Lifetime Coming As Central Banks Scramble To Follow Fed, Says Bloomberg Analyst
Senior Bloomberg commodities analyst Mike McGlone is warning of a financial reset amid an environment of tightening monetary policy.
McGlone says in a Wolf of All Streets podcast that a major financial recalibration looms as central banks across the globe raise rates.
“I think we’re going to have the biggest reset of a lifetime partly because of what’s happening with the narrative [of central banks raising rates].”
According to the senior Bloomberg commodities analyst, the Federal Reserve’s global influence has not waned and its actions are likely to be replicated by other central banks just as before.
Turning to equities, McGlone says that the stock market rally could reverse just like Bitcoin (BTC) did after hitting its 2023 high.
A key system of Atlantic Ocean currents may collapse anytime between 2025 and 2095, a new study found.
This would result in weather pattern changes that could affect "every person on the planet," one expert told CNN.
Potential impacts include permanent drought in Western Africa and extreme winters in Western Europe.