There was a lot of news this week! It seems we continue the inexorable slide to a worldwide Great Depression. With interest rates spiraling up (and choking off long term capital expenditures) and inflations rates continuing to move higher it’s almost inevitable at this point.
The battle for how crypto regulations will develop continues to be fought. You should take the time watch the Youtube session between Erik V and SBF about Sam’s draft legislation proposal.
And BTC (as well as the rest of the crypto market) finally makes a move of more than 100 dollars …
News and Links
Today (October 31) is the 14th anniversary of the day Satoshi Nakamoto published the BTC white paper
Italy Inflation hits 12.8% – highest since 1996
Costa Rica lawmaker proposes law eliminating BTC taxes
Japan spending $200 Billion to counter inflation
UK Lawmaker Committee Approves Stablecoin Regulation Bill
US Q3 GDP rises by 2.6%, the first increase in 2022
European Central Bank hikes interest rates by 75 BPS to 2%
FTX/SBF working on a new Stablecoin
Credit Suisse cutting 9000 jobs
Bank of Canada hikes 50bps, less than the expected 75bps
A year after Nigeria launched its CBDC, only less than 0.5% of Nigerians are using it
Cashapp enables lightning payments
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I can be reached by email at mcintosh@genwealthcrypto.com and on twitter at @McIntoshFinTech. My mastodon handle is @mcintosh@podcastindex.social. Looking forward to hearing from you!
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Music Credits
Rock Guitar Intro 07 by TaigaSoundProd
Link: https://filmmusic.io/song/8342-rock-guitar-intro-07
License: https://filmmusic.io/standard-license
Funky Life by WinnieTheMoog
Link: https://filmmusic.io/song/6040-funky-life
License: https://filmmusic.io/standard-license
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