Fed Turns On The Liquidity Hose, XRP Ready To Ignite, Investor Claims
Reports have disclosed that the US Federal Reserve has ended its Quantitative Tightening program and has put cash back into markets. According to sources, the Fed injected more than $13 billion through overnight repo operations, the largest such move in years. Related Reading: Bitcoin Trail Ends: $29M Seized After European Authorities Shut Down Cryptomixer Crypto investor and author Paul Barron said that coins like XRP could “bring the fire” now that more liquidity is flowing back into the system. He believes that when the Fed starts easing up, assets with clear utility often react faster....
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The majority of people in the Philippines don’t have bank accounts or credit cards. The largely ‘unbanked’ population is an issue that the country is trying to tackle as it slows down the growth of things like ecommerce. Bitcoin can be a solution to this problem in the Philippines, according to Silicon Valley investor and entrepreneur Ron Hose. He has created a Bitcoin trading site for the Philippines called Coins.ph. As of last year, only 32 percent of Filipinos had a bank account. Of this number, only three percent owned a credit card. Philippine President Benigno Aquino III once noted....
When daily deals giant MetroDeal, the Philippines' number two e-commerce website, seemingly went live with a bitcoin payments option last week, it was a clear sign that major merchants in the 97-million-strong nation were beginning to take the digital currency seriously. However, it turns out, that MetroDeal's bitcoin payments test only told part of the story. Coins.ph, the bitcoin payment service powering MetroDeal's checkout, officially launched today by adding yet another major Philippines-based merchant to its roster - angel-funded flash deals startup CashCashPinoy. Such quick merchant....
Crypto analysts are pushing back against the narrative that the current BTC rally is being fuelled by a liquidity crunch afflicting bitcoin mining pools in China. The liquidity crunch, which is caused by an ongoing regulatory crackdown in that country, has reportedly left miners unable to sell their BTC holdings. Miners Are Selling The analysts are instead backing a counter-narrative which points to institutional investor interest as the reason for the current BTC rally. Using data to support their assertions, the analysts suggest that the current bull run, which has different....
Peng Zhong stepped down as CEO roughly a month after former company head Jae Kwon said he would be leading NewTendermint, part of Ignite's split to two firms in May. Peng Zhong, the chief executive officer of Ignite — formerly Tendermint and backer of the Cosmos ecosystem — has announced he will be leaving the firm.In a Friday tweet to his more than 20,000 followers, Zhong said Friday will be his last day at Ignite, where he has been working as CEO since May 2020. Prior to that, the now-former Ignite CEO was chief design officer at the firm’s Kuala Lumpur and Toronto offices since he....
Bitcoin startups are emerging across Asia as entrepreneurs begin to see bitcoin's potential to improve the region's inefficient payments infrastructure and bolster its relative absence of advanced financial tools. One Asian nation that is increasingly active in the bitcoin space is the Philippines, which is being led by perhaps its most well-known startup, Coins.ph, a bitcoin exchange service and merchant processor that has so far inked two deals with major local merchants. The company is led by co-founder and CEO Ron Hose, a graduate of Cornell, a founding partner at Innovation Endeavors....