The Daily LEO #408 Yuan, Recession Fears and Mt. Gox
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BlackRock ‘Will Completely Destroy Bitcoin’—Shock Price Warning
Now, after Wall Street giant BlackRock primed the market for a major upheaval, one legendary trader has predicted the world's largest asset manager's looming bitcoin spot exchange-traded fund (ETF) could be about to "completely destroy bitcoin."
China’s Yuan Is Quietly Gaining Ground
Chinese assets have had a terrible year—but China’s currency is gaining ground as an international payments option.
The yuan’s status as a global currency still faces a huge obstacle in the form of China’s own capital controls. Even so, rising willingness to conduct trade in yuan could help insulate China’s economy, at least to an extent, in the event sanctions were imposed in a hypothetical future conflict with the West.
About That Recession We Were All Bracing For…
Last January, the Wall Street Journal asked a panel of 70 economists to rate the chances of a recession in the next year. The average answer was 63%.
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Unless something drastic happens in the next few days, most of them got it wrong—2023 came and went with no recession in sight.
The question now is, has the recession been avoided, or just delayed?
Mt. Gox Appears to Have Started PayPal Repayments Tied to 2014 Bitcoin Hack
Almost 10 years after being hacked, the Mt. Gox crypto exchange appears to be starting to repay customers who lost 850,000 bitcoin (BTC) now valued around $36 billion.
Some participants in the mtgoxinsolvency subreddit group said they had received payouts in yen over Paypal. Others, who’d chosen to receive cash into bank accounts, said they had not seen any inflows.
Miners see increased revenue stream from inscriptions
Typically, miners’ income is a combination of block rewards and transaction fees. Over the past week, transaction fees accounted for about 30% of their total income. However, a significant change occurred on Dec. 24, when this figure dropped to 15%.
However, data from Glassnode showed that inscriptions are now accounting for a...
SEC HOLDS CRUCIAL MEETING WITH SPOT BITCOIN ETF APPLICANTS TO ENSURE ALIGNMENT
In a significant development, the Securities and Exchange Commission (SEC) convened with applicants seeking approval for spot Bitcoin Exchange-Traded Funds (ETFs) today, according to Eleanor Terrett and Charles Gasparino of FOX Business...
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This edition of The Daily Leo was published by @bitcoinflood on Leo Finance, read the original article here
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I think that institutions buying up Bitcoin after the ETF approval will cause liquidity to plummet along with volatility. This means the traders will have a shrinking spread to trade from and will look to altcoins to make bigger returns.
We're actually already in a recession. The goalposts keep getting moved in the reports so governments don't have to admit it, and the news isn't reporting it because they're already in bed with the government and don't stand to benefit from sounding the alarm. Food, gasoline and energy prices are still up. Credit card debt is skyrocketing. People can't afford rent, much less interest payments on a house. The signs are all there if you look and ignore what the talking heads on TV are telling you.
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