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...The CFPB last month finalised a rule that slashes the largest credit card issuers’ late fees from an average of $32 to $8. The measure is being challenged in court....
...The firm, which trades tens of thousands of products, including currencies, exchange traded funds and options, reported profits of $5.9bn in 2023 and $6.7bn in 2022....
...In the next 24 hours or so, those rewards fall from 6.25 bitcoins to 3.125 bitcoins, or from $408,000 to about $204,000 by current prices....
...for miners for verifying a block halve to 3.125 bitcoins....
...Bitcoin prices are at fresh record highs in many currencies. In dollars the cryptocurrency is up more than 40 per cent over the past month. The $69,000 intra day high set in 2021 is within reach....
...In reality, a resumption of the currency wars of the 2000s and 2010s is unlikely to do much to reduce the US deficit nor undermine the dollar’s global role in bank funding, payment systems and reserves....
...half, to 3.125 bitcoin....
...Sam Bankman-Fried should be sent to prison for up to 50 years for “orchestrating one of the largest financial frauds in history”, US prosecutors told a judge ahead of the FTX founder’s sentencing this month...
...These are: supply and demand dynamics in the lead-up to the “halving” expected in April, when the number of new bitcoins mined every 10 minutes halves to 3.125; the prospect of lower interest rates; and...
...The 32-year-old was found guilty of seven counts of fraud and money laundering last year related to the failure of FTX in November 2022, after an $8bn hole was uncovered in its balance sheet....
...The EU’s Markets in Crypto Assets will start taking effect towards the latter half of the year; in the US half the CFTC’s actions last fiscal year were taken against digital assets....
...US history....
...He said the contention by the 32-year-old’s lawyers that the “harm to customers, lenders, and investors is zero” was “categorically, callously, and demonstrably false”....
...Kwon is in the middle of an extradition battle between the US and South Korea. Last year US prosecutors filed eight criminal counts against him including securities, commodities and wire fraud....
...K33 estimated that 843,000 of those bitcoins under management were in the control of US-based investment firms, if US futures-based ETFs were included in the calculations....
...If you can’t trust them, you can’t trust anyone in the US financial system,” he added....
...That optimism has been fuelled by bitcoin’s 121 per cent rise in the past six months as US regulators approved stock market funds that invest directly in bitcoin....
...Asian currencies dropped against the dollar on Tuesday following stronger than forecast retail sales data in the US, which further reduced the likelihood of imminent interest rate cuts by the Federal Reserve...
...The renminbi has weakened in recent days in line with other Asian currencies....
...this most recent currency introduction, how many currencies has Zimbabwe had in the last decade?...
...Roger W Kirby Millbrook, NY, US...
...It’s to point out the absurdity of a regulatory regime in the US that lets meme-only tokens thrive — while crypto companies and blockchain tokens with more productive uses face hurdles....
...Once embraced by figures such as former US president Bill Clinton and New York mayor Eric Adams, the FTX founder had “presented himself as the good guy, all in favour of appropriate regulation of the crypto...
...Stronger than expected US employment data released on Friday has reduced the likelihood of imminent rate cuts from the Federal Reserve, strengthening the dollar....
...Judge Lewis Kaplan’s evaluation will be a critical factor in determining whether the 32-year old Bankman-Fried spends a mere handful of years in prison, as his lawyers have suggested, or up to five decades...
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