Shiba Inu (SHIB), a currency created largely mimicking Dogecoin (DOGE), has rallied to a record high market cap of USD 35B. However, despite BTC’s mainstream adoption, most Crypto use-cases have yet to evolve past speculation.
Authorities now examining “insider trading and market manipulation.” Along with Binance, U.S. exchanges are also facing regulatory pressure following SEC Chairman Gary Gensler’s Senate testimony.
Last week, Coinbase announced it will expand operations into Japan and is partnering with Mitsubishi UFJ Financial Group for the effort. We look into the state of crypto in Japan and the competitive landscape.
According to a JPMorgan survey, only 10% of surveyed institutions are “involved” in crypto. Despite significant steps towards mainstream adoption, institutional involvement remains tepid.
Yesterday, the Ontario Securities Commission (OSC) revealed an enforcement action against Seychelles-based crypto-to-crypto exchange Poloniex for “operating an unregistered crypto asset trading platform.”
With price pressures still running at a subdued level throughout the developed world, hotter-than-expected inflation readings have been hard to come by of late. Perhaps today’s Canadian inflation data marks a turning point for that trend.
Expect more crude oil price volatility as the global oil market can flip from a global supply surplus to a global supply deficit at the drop of a hat. The market is trying to assess whether more sources of oil will get us to the point where daily global oil production is once again ahead of our daily consumption. So far it has not.
While the Federal Reserve has grabbed all the headlines for raising interest rates lately, its neighbor to the north has actually been just as aggressive in tightening policy over the last year. The Bank of Canada has raised its benchmark interest rate three times since the start of last July, and if economists are correct, another hike is likely at Wednesday’s meeting.
Just a few years ago the mantra on crude oil prices was “lower for longer.” Irrational pessimism about the dynamic power of the U.S. economy as well as a misunderstanding about the potential and risks associated with shale oil production substantially impacted investment decisions. We had this doom and gloom attitude that the U.S. days were behind us and our manufacturing in the United States was hopelessly lost forever.
The United States will impose tariffs on steel and aluminum imports from the European Union, Canada and Mexico from midnight Thursday, May 31, ending months of uncertainty over potential exemptions and sharply escalating the risk of a trade war. The announcement by Commerce Secretary Wilbur Ross was sure to cast a long shadow over a meeting of finance ministers from the world's Group of Seven top economies that opens later in the day in Canada.