Word on the Street: Chinese stock market rout may have added to USDT crash
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Word on the Street: Chinese stock market rout may have added to USDT crash
The notorious “October effect” in stock markets (expected higher volatility and market crashes) has not disappointed, with the US and Chinese indices continuing their tumultuous run. This volatility in the stock market has at times coincided with large sell-offs in cryptocurrencies and the panic selling in Chinese markets this week may have had a spill-over to the bitcoin and tether market this week – both of which share a large base of retail Chinese investors.
The Origins of bitcoin’s Finite Supply and Its Foundational Philosophy bitcoin’s finite supply is not an arbitrary figure but a intentional design choice rooted in economic theory and a response to the flaws of traditional […]
zerohedge.com / by Tyler Durden / Apr 19, 2017 6:04 AM
One week after Donald Trump, in an interview with the WSJ, sent the dollar tumbling in its biggest one day drop in months, Treasury Secretary Steven Mnuchin has been engaging in damage control with not one but two appearances in the FT, first stating that in the “long-run” a stronger dollar is beneficial for the US economy on Monday, and then again making headlines overnight when he said that Donald Trump is “absolutely not” trying to talk down the strength of the dollar, as stated again in the Financial Times on Wednesday.
As we noted at the time, Mnuchin first had played down Trump’s WSJ comment that the dollar was getting “too strong” in an interview first . Then, in a more detailed version published on Wednesday, he directly rejected the idea that Trump was trying to talk down the dollar, saying “Absolutely not, absolutely not.”
FT — You say you don’t intervene in foreign exchange markets, and yet some people in the markets took the president’s comments last week as him talking down . . .
bitcoin’s Proof-of-Work Algorithm Needs Replacing, Argues BIS Study The proof-of-work (PoW) algorithm used by bitcoin [BTC] and some other cryptocurrencies is not viable in the long-term and needs to be replaced, argues a new study […]
zerohedge.com / by Tyler Durden / 