IMF Says Banking Sector Under Pressure From Crypto Adoption, Warns Against Meme Tokens: Report

IMF Says Banking Sector Under Pressure From Crypto Adoption, Warns Against Meme Tokens: Report

The International Monetary Fund (IMF) thinks crypto has the potential to put pressure on the banking sector. In a new report, the IMF says technological innovation is changing financial services. The report notes that the banking sector could lose market share if the crypto ecosystem grows to become a mainstream alternative to bank deposits or…

Crypto will generate more wealth than the internet, says Morgan Creek Capital CEO

Crypto will generate more wealth than the internet, says Morgan Creek Capital CEO

Hedge fund manager Mark Yusko believes cryptocurrencies will generate “untold wealth” by powering the Internet of Value. By laying the foundations of the Internet of Value, cryptocurrency and blockchain will generate more wealth than Web 1.0 and Web 2.0, said Mark Yusko, CEO of Morgan Creek Capital, in an exclusive interview with Cointelegraph.  “We haven’t…

Miami’s Mayor Opposes Jamie Dimon, Says Bitcoin Is Definitely Not Worthless

Miami’s Mayor Opposes Jamie Dimon, Says Bitcoin Is Definitely Not Worthless

Pro-bitcoin mayor Francis Suarez believes JPMorgan’s CEO is dead wrong about the primary cryptocurrency. Francis Suarez strongly disagreed with Jamie Dimon’s opinion that bitcoin is “worthless.” The primary cryptocurrency has intrinsic value, while its underlying blockchain technology is “the most secure, most decentralized blockchain on the planet,” the Mayor said. Suarez Vs. Dimon Miami’s Mayor…

Russian Deputy Finance Minister: No Plans To Ban Crypto

Russian Deputy Finance Minister: No Plans To Ban Crypto

A Russian government official informed reporters that the country would not be banning the purchase of cryptocurrencies by citizens on foreign exchanges outside the Russian Federation.  No Blanket Ban On Cryptos  At the “Digitalization of Financial Markets” lecture at MGIMO on Tuesday, Deputy Finance Minister Alexei Moiseev claimed that the Russian Federation is not planning…

Crypto Use Surges in Afghanistan Amid Taliban Takeover

Crypto Use Surges in Afghanistan Amid Taliban Takeover

The use of cryptocurrencies has surged in Afghanistan, as traditional financial systems fail amidst the Taliban’s takeover of the country. As the Taliban’s seizure of the nation’s capital Kabul grew increasingly likely over the summer, Afghanistan’s central bank withdrew hard currency reserves from its vaults. Subsequently, the U.S. halted shipments of dollar bills, while local…