Benefit – Coin Network News https://coinnetworknews.com If it's coin, it's news. Fri, 12 May 2023 19:38:01 +0000 en-US hourly 1 https://wordpress.org/?v=6.4.3 How will lower interest rates benefit Bitcoin? https://coinnetworknews.com/how-will-lower-interest-rates-benefit-bitcoin/ https://coinnetworknews.com/how-will-lower-interest-rates-benefit-bitcoin/#respond Fri, 12 May 2023 19:38:01 +0000 https://coinnetworknews.com/how-will-lower-interest-rates-benefit-bitcoin/

Macro Markets, hosted by crypto analyst Marcel Pechman, airs every Friday on the Cointelegraph Markets & Research YouTube channel and explains complex concepts in layperson’s terms, focusing on the cause and effect of traditional financial events on day-to-day crypto activity.

Today’s show starts by discussing the economic crisis in Argentina, a Latin American country that is experiencing hyperinflation. After years of populist measures, its local currency, the peso, saw its value go down by 70% in two years. The government’s overspending caused another issue: a lack of United States dollars for the government and companies to pay for imports and remittances. But what does that mean for the U.S. dollar, Bitcoin (BTC) and gold?

According to Pechman, gold poses serious problems, as there is no easy way to ensure whether or not the precious metal is fake, and it doesn’t actually work for remittances. Therefore, dollars and euros are the preferred means of savings and exchange for those facing a weak domestic currency.

Pechman proceeds to explain how fintechs’ costs and government control limit their potential in Argentina, and why stablecoins are the preferred vehicle for remittances. On the other hand, the analyst shows why cryptocurrencies fail to attract people in those fragile economies, including El Salvador.

The next segment of Macro Markets focuses on the Federal Deposit Insurance Corporation (FDIC). Reuters reported that the 113 biggest banks in the U.S. will have to cover the recent FDIC loss of $16 billion caused by saving failed financial institutions. Consequently, there’s a cascading effect as the remaining institutions are obligated to cover the losses. Pechman mentions how the Federal Reserve will eventually reduce interest rates and benefit risk-on assets, including Bitcoin.

If you are looking for exclusive and valuable content provided by leading crypto analysts and experts, make sure to subscribe to the Cointelegraph Markets & Research YouTube channel. Join us at Macro Markets every Friday.

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]]> https://coinnetworknews.com/how-will-lower-interest-rates-benefit-bitcoin/feed/ 0 MicroStrategy Is Uniquely Positioned to Benefit From Rising Bitcoin Price: Berenberg https://coinnetworknews.com/microstrategy-is-uniquely-positioned-to-benefit-from-rising-bitcoin-price-berenberg/ https://coinnetworknews.com/microstrategy-is-uniquely-positioned-to-benefit-from-rising-bitcoin-price-berenberg/#respond Fri, 28 Apr 2023 11:00:24 +0000 https://coinnetworknews.com/microstrategy-is-uniquely-positioned-to-benefit-from-rising-bitcoin-price-berenberg/
The bank initiated coverage of the stock with a buy rating and a $430 price target, implying 40% potential upside.

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]]> https://coinnetworknews.com/microstrategy-is-uniquely-positioned-to-benefit-from-rising-bitcoin-price-berenberg/feed/ 0 First Mover Asia: Will CFTC's Action Against Binance Benefit Crypto’s Asia Narrative? https://coinnetworknews.com/first-mover-asia-will-cftcs-action-against-binance-benefit-cryptos-asia-narrative/ https://coinnetworknews.com/first-mover-asia-will-cftcs-action-against-binance-benefit-cryptos-asia-narrative/#respond Wed, 29 Mar 2023 02:13:21 +0000 https://coinnetworknews.com/first-mover-asia-will-cftcs-action-against-binance-benefit-cryptos-asia-narrative/
Bitcoin is flat, but ether is up, on potentially favorable comments by the CFTC before Congress.

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]]> https://coinnetworknews.com/first-mover-asia-will-cftcs-action-against-binance-benefit-cryptos-asia-narrative/feed/ 0 Web2 giants coming into Web3 could benefit ecosystem — PBW founder https://coinnetworknews.com/web2-giants-coming-into-web3-could-benefit-ecosystem-pbw-founder/ https://coinnetworknews.com/web2-giants-coming-into-web3-could-benefit-ecosystem-pbw-founder/#respond Wed, 22 Mar 2023 00:53:24 +0000 https://coinnetworknews.com/web2-giants-coming-into-web3-could-benefit-ecosystem-pbw-founder/

Paris Blockchain Week (PBW), an annual gathering of professionals within the blockchain industry, has kicked off its fourth edition, with industry leaders and entrepreneurs from across the world gathering to discuss the latest trends and developments impacting the digital asset space.

In an exclusive interview with Cointelegraph, Michael Amar, the founder and chairman of Paris Blockchain Week, shared that the original vision for the conference was to put Europe on the map, as it was previously “nowhere on the map for blockchain.”

Cointelegraph’s Joe Hall with Michael Amar.

Founded in 2019, PBW was created with the vision of bringing together professionals within the industry to advance blockchain awareness and adoption. According to Amar, the aim of the conference was to progress the industry as a whole, addressing topics like regulation and deep technology.

Fast forward to 2023, the topics have expanded to include Web3, nonfungible tokens, the metaverse, and decentralized autonomous organizations. Amar said that the growth of Web3 is beneficial for the blockchain industry, as it can promote wider adoption of digital assets, potentially opening the door to other industries. He told Cointelegraph: 

“Now that we’re opening up to brands, we’re talking IP, we’re talking innovation, we’re talking marketing. It opens up to luxury brands, to fashion brands, to art, to real estate, to so many industries. So, I think this Web3 movement is very good because it creates mass adoption for crypto and blockchain at the end of the day.”

Speaking on how the participation of tech giants impacts the ecosystem, Amar shared: 

“The Web2 players and tech giants are coming, so we’re very happy to have Google or Amazon or SAP part of the event. And actually, they’re bringing their resources and their projects to the space to make Web3 happen for the masses.” 

Amar addressed concerns about whether the entrance of Web2 companies, as well as retail and consumer brands, undermines Web3’s mission of decentralization. He believes that while the centralized power of these companies is a concern, their resources, tools, platforms and investments can be used to drive change and bring about more governance within Web3 systems. Although these companies may never be fully decentralized, Amar suggested that having something meaningful to decentralize is a step in the right direction.

Related: Paris Blockchain Week 2023: Latest updates by Cointelegraph

Paris Blockchain Week hosts over 10,000 attendees and sold out last year. Alongside the main event, it has a dedicated day for investors, a competition for startups, a hackathon and additional side events. The 2022 summit drew approximately 3,000 attendees and included talks with top personalities in the field, including Binance’s Changpeng Zhao and Tether’s Paolo Ardoino.