Category Archive : France

Nigeria launches eNaira amid hope, scepticism – and plenty of uncertainty

LAGOS (Reuters) – Nigeria on Monday became the first African nation to launch a digital currency – the eNaira – a move its leaders said will expand access to banking, enable more remittances and even grow the economy by billions of dollars.

FILE PHOTO: The Central Bank of Nigeria’s logo is seen on its headquarters building in Abuja, Nigeria, January 22, 2018. REUTERS/Afolabi Sotunde/File Photo

Africa’s most populous nation joins the Bahamas, the first to launch a general purpose central bank digital currency, known as the Sand Dollar, in October. China has ongoing trials and Switzerland and the Bank of France have announced Europe’s first cross-border experiment.

But experts and cryptocurrency users in the continent’s biggest economy say the fact that there are more questions than answers regarding the eNaira – and a large amount of worry over the consistency of Central Bank (CBN) rules – means the government faces a tough path to make the eNaira a success.

Central Bank Governor Godwin Emefiele said during Monday’s launch that there had been “overwhelming interest and encouraging response”, adding that 33 banks, 2,000 customers and 120 merchants had already registered successfully with the platform, which is available via an app on Apple and Android.

Some 200 million nairas’ worth of eNaira, which will maintain parity with the traditional currency, has been issued to financial institutions, he said. President Muhammadu Buhari said use of the currency could grow the economy by $29 billion over ten years, enable direct government welfare payments and even increase the tax base.

Nigeria’s young, tech-savvy population has eagerly adopted digital currencies. Cryptocurrency use has grown quickly despite a Central Bank ban in February on banks and financial institutions dealing in or facilitating transactions in them.

Nigeria ranked seventh in the 2021 Global Crypto Adoption Index compiled by research firm Chainalysis. Official digital currencies, unlike…

Read more at www.reuters.com

Shiba Inu Cryptocurrency at Record High Sunday Night, Tumbles After Musk Tweets He Doesn’t Own Any

Chinnapong / Getty Images

Shiba Inu coin reached a record high last night, fueled by several factors, including rumors that the Robinhood crypto wallet would soon list it — and a series of tweets from none other than serial crypto tweeter Elon Musk.

See: Is the Shiba Inu Coin the Cryptocurrency You Should Be Watching?
Find: How These Big Cryptocurrencies Have Done in 2021

Shiba tumbled rapidly thereafter, when Musk tweeted he did not own any of the crypto.

Asked on Twitter how much of the coin he owned, Musk replied, “None.”

“Out of curiosity, I acquired some ascii hash strings called ‘Bitcoin, Ethereum & Doge’. That’s it. As I’ve said before, don’t bet the farm on crypto! True value is building products & providing services to your fellow human beings, not money in any form,” he then tweeted.

See: How to Make (or Lose) Money With Bitcoin, Explained in One Chart
Find: Investment Manager John Paulson Says Cryptos Will Prove to Be ‘Worthless’

Shiba Inu coin was created anonymously in August 2020 under the pseudonym Ryoshi.

Shiba Inu reached an all-time high of $0.000044 on Sunday, according to Coindesk, but has fallen 8.6% to $0.00003827 over the past 24 hours, Barron’s reported.

CoinMarketCap lists it as the 13th largest crypto, with a market cap of $15.3 billion. The crypto was down 7.5% this morning.

See: Crypto, Stocks or Real Estate? Where to Put $10,000 Right Now
Find: Where Does Cryptocurrency Come From?

A petition on Change.org, which amassed 230,00 signatures as of this morning, is asking Robinhood to list Shiba Inu coin to trade.

“Dogecoin has been a huge success for Robinhood, and its investors. We have all enjoyed the ride. Shiba Inu is a similar meme coin with genuine potential, up 2000% in the last weeks! Gaining new…

Read more at www.gobankingrates.com

Cryptocurrency Market Insights – 2021, Size, Manufacturer Landscape, Top Revenues, and SWOT Analysis till 2028 – IMIESA

The “Cryptocurrency Market” report contains information on the regional market with a detailed analysis of business models, emerging trends, infrastructure properties, industrial landscape, and key market segments. It also describes the performance of the top categories to define the global Cryptocurrency market regional business outlook across different geographies. The report also provides a thorough analysis and research methodology for historical data and current market trends to get critical insights into market growth drivers, constraints, challenges, and opportunities. The Cryptocurrency market is a systematic and reliable resource demonstrating marketing intelligence for new industry competitors. The report offers an overview of the market, briefly describes the market condition and the leading regional segments. This market survey provides comprehensive data which enhances the understanding, scope, and application demand of this report. 

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The study also includes company reviews, revenue sharing, and SWOT analysis of the leading players in the Cryptocurrency industry. The Cryptocurrency market report provides a detailed analysis of the specific factors that are changing and putting you ahead of the competition. The research report on the global Cryptocurrency market includes a SWOT analysis and Porter’s five forces analysis, which help in providing the precise trajectory of the market. These market measurement tools help in identifying drivers, restraints, weaknesses, Cryptocurrency market opportunities, and threats.

This report also covers the emerging player’s data, including: competitive situation, sales, revenue and global market share of Top Manufacturers such as:

Bitfinex, BitFury Group Limited, Bitstamp Ltd., Coinbase, Coinsecure, Litecoin, OKEX Fintech Company Limited, Poloniex Inc., Ripple, Unocoin Technologies Private Limited

Read more at www.infrastructurene.ws

French company Crypto Blockchain Industries to list on Paris stock market

FILE PHOTO: Representations of the virtual currency Bitcoin stand on a motherboard in this picture illustration taken May 20, 2021. REUTERS/Dado Ruvic

PARIS (Reuters) – French company Crypto Blockchain Industries said it would list on the Paris Euronext Growth stock market, highlighting the burgeoning appeal of cryptocurrencies around the world.

The company said it would list its shares at a price of 2 euros, giving it a market capitalisation of around 38.7 million euros ($45 million).

Bitcoin, the world’s largest cryptocurrency, hit record highs on financial markets last week.

($1 = 0.8593 euros)

Reporting by Sudip Kar-Gupta; Editing by Kirsten Donovan

Read more at www.reuters.com

Bitcoin trades above $60,000 as China’s influence wanes

Bitcoin has traded above the $60,000 mark for a week, as China’s influence on the digital currency finally wanes.

It has been more than 150 days since China banned Bitcoin mining, prompting BTC market prices to drop. But signs last week suggest that the market was starting to rid itself of China’s influence as it recovers to new price heights.

When China began cracking down on BTC mining, the price dropped to one of the lowest in BTC history. Miners had to move out of China, and BTC network hash rate fell by 50 per cent, and BTC price fell to towards the $30,000 mark.

However, from late September until now, BTC has been making a renaissance, erasing any trace of China’s impact. This is happening in spite of the recent crackdown by Chinese authorities on BTC-related activities in China.

China’s move to ban BTC mining has improved the decentralisation of mining, solving a weakness of the BTC ecosystem in the process.

Last Wednesday, BTC hit a new high of $66,930.39 during the day’s trading. BTC’s price recovery has had the digital currency trade at an average price of $62,518.45 in the last seven days. It closed trading at $62,210.17 on Friday.

After hitting an all-time high in April ($64,863), BTC began to fall in May after Elon Musk announced that his company, Tesla, was not going to accept BTC payment any longer.

China later announced a ban on BTC mining, and BTC declined to $30,000 levels.

In October 2020, BTC was about $11,000. Its price recovery is coming as central bank digital currencies gain momentum.

The Central Bank of France has completed a significant trial of a blockchain-based CBDC in the country’s debt market.

According to the Financial Times, over 500 institutions in France participated in the 10-month experimental testing of the CBDC issued by Banque de France for government bond deals.

The trial allowed participants to trade government bonds and security tokens, settling them using a CBDC supplied by…

Read more at punchng.com

Crypto Is Shedding Its Tether

The launch of the first bitcoin-focused exchange-traded fund last week proves crypto bulls need to meet

John Law.

The Scottish gambler, economist and financier is likely why why so few top French banks have Banque in their name. Instead, there is Crédit Agricole,

Société Générale

and Crédit Mutuel. Law’s Banque Générale, later renamed Banque Royale, issued bank notes out of thin air, then royally blew up in 1720 and destroyed the French economy. The reputation of French banks has never fully recovered.

Law’s connections gave him exclusive rights to trade between France and its Louisiana Territory. The Mississippi Co. was funded by selling new shares of Banque Générale that could be paid for with bank notes issued by—wait for it—Banque Générale. Shares took off, rising from 500 livres to 10,000 livres from January to December 1719. Soldiers had to be sent in to keep order in the frenzied financial district.

Law’s flaw was issuing bank notes willy-nilly, without real backing for their value, to keep the stock price rising. The French government eventually made the huge mistake of making these bank notes legal tender, doubling the French money supply. Inflation raged, hitting a 23% monthly rate in January 1720. By September 1721, shares dropped back to 500, and the French economy imploded.

Fast-forward 300 years. Crypto had a big October, with bitcoin rising from almost $44,000 to a $66,000 peak in anticipation of the ProShares Bitcoin Strategy ETF, which actually doesn’t buy bitcoin—it buys bitcoin futures. Meanwhile the stablecoin issuer Tether Ltd. paid a $41 million penalty after the Commodity Futures Trading Commission found the company had falsely claimed it had adequate dollars in reserve to back its tokens.

The New York attorney general’s office ran a similar investigation over Tether’s claim of 1-to-1…

Read more at www.wsj.com

ASX to rise, commodities bounce, earnings to accelerate

“The risks are clearly now to longer and more persistent bottlenecks, and thus to higher inflation,” Powell told a virtual panel discussion hosted by the South African Reserve Bank. Fed policymakers next meet in early November.

Brad McMillan, chief investment officer for Commonwealth Financial Network, said underlying market momentum remains strong, and markets are still supported by low interest rates and expected strong earnings growth.

Today’s agenda

No local data. This week’s key reports are third quarter CPI on Wednesday and September retail sales on Friday.

Overseas data: Euro zone IFO business climate survey October; US Chicago Fed national index September, Dallas Fed index October

The UK will table a budget on Wednesday. The Bank of Japan and Canada’s central bank separately meet on Thursday [AEDT] and the European Central Bank on Friday [AEDT].

Market highlights

ASX futures up 30 points or 0.4 per cent to 7416

  • AUD -0.01% to 75.66 US cents
  • Bitcoin on bitstamp.net $US as of .. am AEDT
  • On Wall St: Dow +0.2% S&P 500 -0.1% Nasdaq -0.8%
  • In New York: BHP +1.4% Rio +0.5% Atlassian +1.5%
  • Tesla +1.8% Apple -0.5% Facebook -5.1% Alphabet -2.9%
  • Amazon -2.9% Snap -26.7% Digital World Acq +107%
  • In Europe: Stoxx 50 +0.8% FTSE +0.2% CAC +0.7% DAX +0.5%
  • Spot gold +0.6% to $US1792.65/oz in New York
  • Brent crude +1.1% to $US85.53 a barrel
  • US oil +1.5% to $US83.76 a barrel
  • Iron ore +2.2% to $US119.52 a tonne
  • 2-year yield: US 0.45% Australia 0.10%
  • 5-year yield: US 1.20% Australia 1.18%
  • 10-year yield: US 1.63% Australia 1.79% Germany -0.11%

From today’s Financial Review

PM, Nationals agree to historic net zero deal: The Nationals have backed Scott Morrison’s plan to achieve net zero by 2050 after the Prime Minister made it clear he would take it to Glasgow, with or without the junior partner’s support.

Year’s biggest IPO has a warning for tech and ESG investors: In a rush of equity raisings, asset management group GQG Partners is the biggest IPO to date, and its co-founder is…

Read more at www.afr.com

Cryptocurrency Exchanges Market Size and Forecast

New Jersey, United States,- The Cryptocurrency Exchanges Market report focuses on economic developments and consumer spending trends in different countries for the forecast period 2021 to 2028. The research further reveals which countries and regions will have a better reputation in the coming years. Apart from this, the study talks about the growth rate, market share as well as recent developments of the Cryptocurrency Exchanges industry worldwide. Besides, the special mention of major market players adds importance to the overall Cryptocurrency Exchanges market research.

The report covers the analysis of the impact of the COVID-19 pandemic on the global market. The pandemic has dynamically altered the economic landscape and drastically changed the trends and demands for products and services in the market. The report also covers the current and future impact of the pandemic and provides an overview of the post-COVID-19 scenario.

Get | Download Sample Copy with TOC, Graphs & List of Figures @ https://www.verifiedmarketreports.com/download-sample/?rid=87196

The report covers extensive analysis of the key market players in the market, along with their business overview, expansion plans, and strategies. The key players studied in the report include:

• Binance
• Coinbase
• Poloniex
• LocalBitcoins
• BTCC
• Bittrex
• Kucoin
• Bitfinex
• Kraken

We provide detailed product mapping and investigation of various market scenarios. Our expert analysts provide in-depth analysis and breakdown of the market presence of key market leaders. We make an effort to stay up to date with recent developments and keep up with the latest company news related to industry players operating in the Cryptocurrency Exchanges Market. This helps us to thoroughly analyze the individual position of companies as well as the competitive landscape. Our Vendor Landscape Analysis offers a comprehensive study to help you gain an edge over the competition.

Cryptocurrency…

Read more at puck77.com

ELAM: Crude oil: The trend is your friend

Bitcoin traded at a record high, $66,974.77 on Wednesday.

Price of Bitcoin Reaches Record, WSJ Thursday

If in fact all the stock indexes have already hit their respective highs, this is a perfect headline to record the ending of the great bull stock market from 2009. Indeed, play money has reached a new peak as the first linked ETF begins trading. Even Tesla claims it is now profitable.

Last we opined that as crude oil is both an economic and a financial instrument, it could well reach triple digits again. It is down a couple of bucks today at $81.64. But the uptrend needs to be respected. It would not reverse until a weekly close under $78. Natural gas futures have soared closing yesterday at $5.17. Here in San Antonio CPS Energy plans to raise monthly bills 10% to pay for the high priced natural gas purchased last February as the lights literally went out in San Antonio. Several executives including the CEO have or will shortly resign their positions.

Team Biden’s approval rating is sinking as fast as crude and pump gasoline are rising. The latest poll numbers are in the high 30s, lower than the previous three Presidents t this first year in office. The solution has been, incredibly, to ask OPEC to increase output to lower the price of refined gasoline.  Now why would OPEC do that? OPEC was created to stabilize or raise the price of gasoline. Strangely Team Biden has not reached out to the domestic energy industry. He has been throttling them with pipeline shutdowns, increased regulations, and fewer permits ever since taking office. The result has been $5.00 gasoline on both coasts and $3+ here in Texas. Once this sort of trend begins it is hard to reverse, especially the negative attitude about the President.

Europe has rushed to shut down coal-fired plants. Germany even closed its nuclear…

Read more at www.oaoa.com

‘Hyperinflation’ will soon ‘change everything’

Twitter founder Jack Dorsey has issued a cryptic warning that “hyperinflation” will “change everything.”

In typical Dorsey style, the social media CEO tweeted out his comment, saying that “it will happen in the US soon, and so the world.”

Hyperinflation is typically very high and accelerated inflation. Researchers have documented 57 cases of hyperinflation as of 2018, with the first recorded episode occurring between 1795 and 1796 in post-revolutionary France, according to The Economist.

BIDEN TREASURY NOMINEE WAS MEMBER OF MARXIST FACEBOOK GROUP AS RECENTLY AS 2019

Some economists and writers have looked at possible hyperinflation in the U.S. as early as March 2021 when the economy started to get back on track after an artificially depressed year due to lockdowns and immense restrictions during the coronavirus pandemic – policies that officials started reversing as vaccines became more available.

The term raises some grim images, with Venezuela the most recent example and Zimbabwe perhaps one of the most famous examples of hyperinflation.

“This is meme economics,” Bloomberg Businessweek wrote earlier this year.

“Fear of inflation – if not outright hyperinflation – helps explain the meteoric rise of Bitcoin,” the article argued. “It’s behind distrust of the Fed. And it feeds congressional opposition to President Biden’s $1.9 trillion pandemic relief plan.”

SCHOOLS FORCED TO LIMIT LUNCH OPTIONS AMID NATIONWIDE SUPPLY CHAIN CRISIS

Indeed, Republicans have warned of inflation since the start of the summer when gas prices first started to tick upward and prices followed shortly after: consumer prices rose 5% over the 12 months between June 2020 and June 2021, The Associated Press reported.

This marked the largest one-year increase since 2008, and possibly the biggest since 1992 – excluding more volatile items such as food and energy.

Rep. Jim Banks, R-Ind., said his constituents have “seen the higher prices on gas in particular, but also groceries and the cost to…

Read more at finance.yahoo.com

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