Early Wednesday looked benefitting for the equities, crypto markets, and precious metals that did effectively during the trading session, just a little before the U.S. Central finished their meeting with the Federal Open Market Committee (FOMC). In a press release, the FOMC mentioned of the rise of the benchmark curiosity rate, however, Jerome Powell led by Central Financial Institution mentioned that the FOMC is thinking to ‘raise the federal funds rate at the March meeting.’ The statement of Powell followed by the FOMC meeting with the U.S. Central has observed a hawkish-kind of behavior amongst the buyers alongside the world market dipping in value.  The Clash – While Jerome Powell Wishes the Federal Funds Rates Change in March, FOMC Plans to Speed Up the Process In the press release on Wednesday, the FOMC mentioned that as the inflation rate is about 2 percent followed by a strong labor market, the Committee believes that it can soon raise the federal funds rate target range. As this statement by the FOMC highlights ‘soon,’ it translates that the U.S. Central Bank plans to maintain the baseline interest untouched, at least for now. Furthermore, the press conference attendees were explained by Powell about his opinion and taking into respect the views of most FOMC participants as well, “Inflation risks are still to the upside. There is a risk that the high inflation we are seeing will be prolonged. There’s a risk that it will move even higher. You asked what the risks are, and we have to be in a position with our monetary policy to address all of the plausible outcomes.” To back his opinions, Jerome Powell also said that the benchmark rate may increase in March, and noted that getting the Fed’s balance sheet down will certainly take some amount of time. Powell continued to stress the fact that, “The committee is of a mind to raise the federal funds rate in March assuming that the conditions are appropriate for doing so.”  Situation Following the Fed Statements With the stock markets closing, the following statistics were observed; NYSE dipped 103 factors, the Dow Jones Industrial Average dipped 129 factors. Howbeit, the NASDAQ maintained its position just a few percentages above, and S&P 500 lost only a few percentages. Accompanying the stock market closing, the value of 1 ounce of .999 fine gold slipped down to 1.77% and 1 ounce of .999 fine silver fell to 2.48%.  In consideration of that, the Gold bug and Economist Peter Schiff tweeted, “Powell said that the Fed will begin shrinking its balance sheet at the appropriate time.” He further stated that Powell has no certainty about when the shrinking of the balance sheet will begin and if the FOMC hasn’t discussed this, then what have they done? With the value of gold slipping after Powell’s statements, some users started trolling Schiff.  Even the world cryptocurrency market capitalization was affected greatly, as it dropped greater than 2% to 1.71 trillion. Also, the main crypto-asset bitcoin was a risk-taking task, but this revealed on the Bitstamp that the BTC jumped from $37,400 to #38,946. Just a few hours after Powell’s statement, various high ten crypto properties were lost between 2% to 7% in a few hours. 

The post Followed by Powell’s Statements; Precious Metals, Crypto Markets, and Stocks Waver appeared first on Cryptoknowmics-Crypto News and Media Platform.

When 2013 began, the general public had no idea who Edward Joseph Snowden was, but by the end of the year, everyone knew his...

Beginners in the cryptocurrency industry are often afraid of the risks associated with it. Besides price volatility, the users often face the danger of their wallets being hacked, causing irreparable losses.

WonderHero is a blockchain NFT (non-fungible token) play to earn mobile game. The game is a turn-based RPG mobile game for iOS and Android where players collect Heroes, enter RPG combat and play to earn tokens in a fantasy world. You can play this game on just about any kind of mobile hardware! Built on [...]

The post WonderHero: An Anime-Styled Play to Earn Mobile RPG Launches on Polygon appeared first on Blockonomi.

Reportedly, the Frog Nation and Wonderland.Money operative 0xSifu has been identified as one of the co-founders of the fraudulent crypto exchange QuadrigaCX. Patryn served 18 months in prison for identity theft Via Twitter, blockchain investigator @zachxbt reported that he has linked 0xSifu’s identity to that of Michael Patryn. While not explicitly confirming the identity, Frog […]

The post Frog Nation CFO 0xSifu Doxxed As QuadrigaCX Co-Founder Michael Patryn appeared first on CryptoCoin.News.

Rummy is an exciting card game that has been widely played. This common card game has almost become an indispensable part of Indian culture. This exciting card game can be a pure joy to play with your near and dear ones. Alas! We do not get such provisions nowadays because of the outbreak of the […]

The post 6 Annoying Questions That Rummy Players Often Get Asked appeared first on Fintech News.

Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comTVS Motor Company today announced the successful acquisition of a 75% stake in the Swiss E-Mobility Group (SEMG). ?The acquisition reaffirms TVS Motor Company?s commitment to expansion in Europe through a portfolio of premium and technology leading brands, including Norton Motorcycles and EGO Movement, which were recently acquired.

The post Tons of New Magic Leap 2 Details Shed Light on Dynamic Dimming & More appeared first on Road to VR.

Crypto markets have shed a further 3.3% on the day in terms of total market capitalization, which has now fallen to $1.70 trillion. Over the past 12 hours, an additional $116 billion has left the space as the selloff continues. The total market cap is now at a six-month low, having dropped back to levels […]

Despite the fact that the end of 2021 suggested that there could still be some concern in regard to the volatility of the market, there is no doubt that last year was huge for the cryptocurrency industry and one that was huge in general. Indeed, there were a number of different things to look out for including things such as non-fungible tokens (NFTs) and decentralized finance (DeFi), Ethereum (ETH-USD) and smaller cryptocurrencies, however it is was also a year that had plenty of impact on Bitcoin. The cryptocurrency, which had experienced a number of fluctuations over the last 12 months, had managed to hit an all-time high of a price near $69,000 in November, however it had been reduced to around $47,000 recently, leaving its market capitalization to being its second lowest and around 40% according to TradingView data. Nonetheless, this has not stopped many bulls from predicting that Bitcoin will still be able to reach the $100,000 price that many have hoped it would, with many standing strong in their prediction and seemingly having as much confidence in it happening as before. Naturally, there are a number of different factors that many individuals and experts may look to point to when it comes down to trying to back their prediction, with the gambling industry perhaps one of the biggest. Crypto gambling is an activity that is enjoyed by many holders of virtual currency, with the use of a Bitcoin casino continuing to increase due to the benefits that gamblers are able to enjoy when playing their favorite games. Additionally, to further support the suggestion that Bitcoin has benefited from this particular industry and will likely continue to do so, a study by Thomas Conlon and Richard McGee in 2020 has already shown that the crypto token had enjoyed an increase in price once before because of the wagering industry. CryptosRus George Tung told Yahoo Finance that whilst in the “short-term, there may be some volatility,” he felt that in the “long-term, inflation is going to be a continuing issue, and bitcoin is seen as the best hedge against inflation at this point.” Blockstream’s chief strategy officer Samson Mow also appeared to double down on the prediction that Bitcoin will be a six-figure price by suggesting that it could happen inside the next six months. He stated: “We’ll see $100k within the first half of the year.” How did it also reveal that Bitcoin will still be a rather risk-sensitive asset over the short-term, with a number of different factors at play, but also stated: “on a long enough time horizon, [Bitcoin] does its own thing.” El Salvador President, Nayib Bukele, has recently echoed the opinion that Bitcoin will also be able to reach the $100,000 price in 2022, as he made a number of strong predictions whilst taking to Twitter and posting a tweet to all of his followers. One of the predictions that he made that could help the digital asset to become a six-figure coin was that he felt two more countries will adopt the token as legal tender in the next 12 months, thus joining the Latin American country in becoming amongst the first to accept it. Mow highlighted that “[Bitcoin] mining at the national utility level is the first step,” and a number of countries have seen the market resurface. Despite the fact that China banned cryptocurrency mining in June 2021, countries including Canada, Iran, Germany, Malaysia, Russia and the United States have all seen a resurgence in market interest, according to research compiled by the Cambridge Bitcoin Electricity Consumption Index (CBECI). Some would suggest that Bukele’s and Mow’s thoughts are shared, though, due to the interest that they have together after a partnership was announced that would see them offer “volcano bonds”. Half of the billion-dollar sovereign debt would be going towards financing “Bitcoin City ” which would harvest nearby geothermal energy from a volcano to mine Bitcoin. Mow stated that a “zero tax on everything” development zone would help to transform El Salvador into the “Singapore of Latin America,” however it should be noted that the bond is not yet available, as Blockstream continues to work with a number of brokers. The other half of the 10-year bond offering will be converted into Bitcoin, with a coupon of 6.5% being carried over the next decade.

HONG KONG, Jan 27, 2022 - (ACN Newswire) - Ebury, the global non-bank leader in cross border finance for SMEs, is entering Hong Kong's non-bank lending market to provide trade finance for credit-starved small and medium-sized companies.

Ebury announced today that it had started competing head-on with large banks and Hong Kong's non-bank lenders by offering SMEs unsecured trade finance as a complementary product for their payables, with line sizes of up to US$5 million per client.

With a valuation of more than US$1 billion, Ebury is a 'unicorn' and has offices across Europe, the Middle East, North America, and Canada. The company, which is also expanding across Asia, began offering foreign exchange (FX) and risk management solutions to Hong Kong SMEs in 2019.

The global fintech has FX and trade finance capabilities in more than 130 currencies and offices in 20 countries linked by a single best-in-class platform. It recently launched the ability to finance cross-border freight and advertising for e-commerce businesses that buy and sell over the internet.

Ebury Hong Kong Country Manager, Liam Thomas, said that many Hong Kong SMEs faced great difficulty getting capital for their business because of red tape, rigid systems and complex lender demands, especially those with volatile revenue and cash flow. Regular rejection of SMEs' trade finance applications had contributed to a global trade finance gap that the Asian Development Bank estimated was around USD1.5 trn in 2020.

"Ebury is immediately competitive in the Hong Kong market because the features of our trade finance product make it the best available. We offer clients an easy-to-use online platform, complete cost transparency, with absolutely no fees except for the interest charged for credit used. In contrast, competitors often have upfront, draw-down or utilisation fees on top. In addition, our payable finance line offers an up to 150-day repayment period, which is much longer than the industry standard 90-120 days," Mr Thomas said.

"Our clients are increasingly becoming e-commerce-focused businesses which are looking for greater flexibility in working capital solutions. Our trade finance product enables them to pay for advertising and for freight, which are not typically able to be financed cost effectively by traditional lenders. Quite simply, you can use Ebury trade finance longer and for more things, without having to provide security over balance sheet or goods," he added.

Australia-based Ebury Asia Pacific Managing Director, Rick Roache, said he expected strong demand and that the Ebury Hong Kong loan book would grow quickly because of the suitability of Ebury's trade finance product for Hong Kong clients' needs.

"Our experience in other similar markets is that growth in our book accelerates over time. In Australia, the book has grown more than 300% in 2021 with the majority our clients using it to finance supply chains into North Asia. This Hong Kong trade finance launch is an important part of our regional growth strategy. Once this business is established it will serve as a launch pad for Ebury into mainland China," Mr Roache said.

To find out more about Ebury, please visit Ebury Hong Kong https://en.ebury.hk/ .

ABOUT EBURY:
Ebury provides international currency exchange in over 130 currencies, risk management and lending capabilities to large and mid-sized corporates globally. Founded in 2009 and headquartered in London, Ebury has offered tailor-made solutions to more than 24,000 clients based on their needs and objectives, helping them manage their FX risk exposure, growth aspirations and international payment requirements. Ebury Hong Kong is an authorised Money Services Operator (MSO) authorised by the Customs and Excise Department. The MSO License allows Ebury HK to carry out remittance and money changing services under license number 18-09-02555 . Ebury is registered with the ICO under the UK Data Protection Act; registration number ZA345828.



Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comEbury, the global non-bank leader in cross border finance for SMEs, is entering Hong Kong's non-bank lending market to provide trade finance for credit-starved small and medium-sized companies.

Video hosting or sharing platforms represent services that facilitate the upload, viewing, sharing, and streaming of video-based content on the Internet. At this point in time, Google’s YouTube represents the world’s largest video sharing platform, with over 1.9 billion monthly logged users, one billion hours-worth of video watched daily, and 500+ hours of content uploaded [...]

The post Best YouTube Alternatives: The Future Decentralized Video Platforms appeared first on Blockonomi.