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Federal Reserve Governor Stephen Miran says rising stablecoin demand could lower U.S. interest rates.
In a speech to economists in New York on Friday (Nov. 7), Miran said the surge of dollar-pegged tokens could reduce the so-called “r-star,” or the “neutral” rate of interest that neither promotes nor hinders growth.
If this happens, the central bank may need to lower its own policy...
A record number of cryptocurrency hacks has reportedly spiked demand for security devices.
The CEO of Ledger, which sells hardware devices resembling USB drives that allow investors to securely store their cryptocurrencies, told the Financial Times (FT) on Sunday (Nov. 9) that it was having its best year ever.
Pascal Gauthier, Ledger’s chief executive, said revenues at the Paris-based...
Meta will invest $600 billion in the United States by 2028 to build artificial intelligence (AI) data centers.
“As the importance of AI grows, so will the importance of data centers,” the company said in a Friday (Nov. 7) press release. “We’ll continue to build and scale infrastructure for the future of AI while supporting the communities that host us.”
Meta told investors during an...
Visa and Mastercard’s 20-year legal battle over interchange fees is reportedly winding down.
The two payment giants are close to a settlement with merchants that will reduce the fees stores pay and give them more freedom to reject certain cards, The Wall Street Journal (WSJ) reported Saturday (Nov. 8), citing sources familiar with the matter.
Those sources say the deal would see Visa...
Suppose Thanksgiving is America’s annual CFO meeting, one part nostalgia, two parts spreadsheet.
In that case, it’s also a perfect mirror for how the digital economy has re-wired the way we eat, shop and schlep to Grandma’s house. The menu is still familiar, but the receipts are doing their own little end-zone dance.
The Commercial State of the Feast
A holiday 89% of Americans say they...
Looking for a travel-related business that’s actually booming during the year of COVID-19? It’s out on the water, in rented boats of every shape and size from kayaks to luxury yachts.
“We had our drop-off in April, and then come May we saw a very quick rebound, Bryan Petro, chief operating officer of boat rental and charter marketplace GetMyBoat, told PYMNTS. “From April [to August], we are...
In China, crypto over-the-counter (OTC) traders are being arrested in an attempt to crack down on illegal transactions, according to a report from CoinDesk.
Prominent OTC trader Zhao Dong, of crypto lending platform RenrenBit, was held up by police in the city of Hangzhou, the report says. Zhao has a prominent status among the community, and rumors online began to circulate. One poster relayed...
Two innovators approached a well-heeled investor asking for money. Their sales pitch was very convincing. They told this investor that their innovation was so incredibly cutting-edge that only the hopelessly uninformed would fail to recognize its value. The innovators said that they had picked him because he was smart and forward-thinking enough to see the potential. The investor, who prided...