TL;DR Breakdown Twitter Payments LLC has earned a money transmitter license in three states of the United States. Controversial changes and the path forward for the company. Description Twitter Payments LLC, a subsidiary of Elon Musk’s Twitter social network, has achieved a significant milestone by obtaining its initial money transmitter licenses. The states of Michigan, New Hampshire, and Missouri have approved the company’s applications, allowing it to offer transfer services and payment instruments. These licenses distinguish Twitter Payments as a facilitator of secure … Read more Twitter Payments LLC, a subsidiary of Elon Musk’s Twitter social network, has achieved a significant milestone by obtaining its initial money transmitter licenses. The states of Michigan, New Hampshire, and Missouri have approved the company’s applications, allowing it to offer transfer services and payment instruments. These licenses distinguish Twitter Payments as a facilitator of secure money transmission, focusing on safeguarding consumers during financial transactions. Twitter Payments promises to safeguard its user’s transactions While the exact range of services that will be provided by Twitter Payments remains undisclosed, the company has made applications for licenses…

TL;DR Breakdown Chinese investors are increasingly turning to dollar deposits and Hong Kong insurance due to economic uncertainty in China. This trend is fueled by concerns about China’s economic recovery, U.S.-China tensions, and changes in China’s COVID-19 policy. Higher yields on dollar deposits and U.S. government bonds are making these investments more attractive. Description The epicenter of global finance is witnessing an unanticipated shift. In an unforeseen turn of events, a growing wave of Chinese investors are making a beeline for dollar deposits and Hong Kong insurance. This recent surge indicates the wary economic sentiment back home, painting a picture of an economy grappling with an ailing yuan and … Read more The epicenter of global finance is witnessing an unanticipated shift. In an unforeseen turn of events, a growing wave of Chinese investors are making a beeline for dollar deposits and Hong Kong insurance. This recent surge indicates the wary economic sentiment back home, painting a picture of an economy grappling with an ailing yuan and a recovery that is proving to be elusive. The Exodus: China to Hong…

TL;DR Breakdown Namibia’s National Assembly passes crypto regulation bill, waiting for official enactment. Law aims to safeguard consumers, counter market abuse, and mitigate money laundering risks. Crypto remains non-legal tender in Namibia, individual owners assume risk. Description Namibia, a Southern African nation, is making headway in establishing its position on the digital financial landscape. The National Assembly recently approved a pivotal bill, the objective of which is to legalize and govern virtual assets, such as cryptocurrencies. Now in the stage of being officially enacted, the law is a cornerstone for Namibia’s journey … Read more Namibia, a Southern African nation, is making headway in establishing its position on the digital financial landscape. The National Assembly recently approved a pivotal bill, the objective of which is to legalize and govern virtual assets, such as cryptocurrencies. Now in the stage of being officially enacted, the law is a cornerstone for Namibia’s journey into the realm of digital finance. Namibia’s anticipated move to safeguard interests The new law’s implications are far-reaching, extending beyond just the recognition of digital assets. The Minister of Finance…

TL;DR Breakdown Binance.US has witnessed a slight decline in its market share following its prolonged lawsuit against the SEC. Coinbase experiences good fortune despite regulatory lawsuit. Description United States-based cryptocurrency exchange Binance.US has experienced a significant decline in its market share, reportedly dropping more than 20% due to an ongoing lawsuit filed by federal financial regulators. Data from Kaiko, cited in a July 5 report by Reuters, reveals that Binance.US’s market share in the U.S. decreased from over 22% in April to … Read more United States-based cryptocurrency exchange Binance.US has experienced a significant decline in its market share, reportedly dropping more than 20% due to an ongoing lawsuit filed by federal financial regulators. Data from Kaiko, cited in a July 5 report by Reuters, reveals that Binance.US’s market share in the U.S. decreased from over 22% in April to approximately 0.9% as of June 26. Binance.US market share experience fall to end June The U.S. Securities and Exchange Commission (SEC) initiated a lawsuit against Binance.US, along with its parent company Binance and CEO Changpeng Zhao (CZ), in June. The…

TL;DR Breakdown Iran’s President Ebrahim Raisi advocates for de-dollarization to establish a fairer world order. At the SCO summit, Raisi argues that Western financial dominance undermines global trade and economic security. Iran’s full SCO membership could provide a platform for advocating its de-dollarization agenda. The global shift towards a diversified currency system could create a more equal global economic field. Description As the world’s political landscape continually shifts, the question of monetary dominance resonates on a global stage, particularly within the confines of the Shanghai Cooperation Organisation (SCO). The significant concern isn’t merely about the balance of power but, in particular, the argument for de-dollarization as a means to achieving a more balanced world order. Iran’s … Read more As the world’s political landscape continually shifts, the question of monetary dominance resonates on a global stage, particularly within the confines of the Shanghai Cooperation Organisation (SCO). The significant concern isn’t merely about the balance of power but, in particular, the argument for de-dollarization as a means to achieving a more balanced world order. Iran’s bid for a balanced financial world…

TL;DR Breakdown Binance will exit the Dutch market on July 17, 2023, and refer its Dutch users to rival platform Coinmerce. Coinmerce, a registered crypto platform, will become the largest crypto platform in the Netherlands as it welcomes the referred Binance users, supervised by the central bank. The move comes after Binance failed to secure recognition as a virtual asset provider in the Netherlands. Description Binance will be exiting the Dutch market on July 17, 2023. As part of this exit plan, Binance has reached an agreement with Coinmerce, a registered crypto platform, to refer hundreds of thousands of Dutch users to their platform. This referral is set to make Coinmerce the largest crypto platform in the Netherlands in terms … Read more Binance will be exiting the Dutch market on July 17, 2023. As part of this exit plan, Binance has reached an agreement with Coinmerce, a registered crypto platform, to refer hundreds of thousands of Dutch users to their platform. This referral is set to make Coinmerce the largest crypto platform in the Netherlands in terms of products,…

TL;DR Breakdown China’s export restrictions on crucial chip materials are causing disruption in Asia’s semiconductor industry. These restrictions are a response to new Dutch regulations limiting the export of advanced chip-making machinery. Asian chipmakers are also struggling to access green energy, hindering their environmental goals. The combined challenges could reshape the future of Asia’s technological dominance in the chipmaking sector. Description A sinister specter is looming over Asia’s technological landscape. The region, renowned as a powerhouse for global chip production, now faces a new challenge that threatens to unhinge its dominance: China’s export restrictions. Chinese trade policies, particularly those regarding crucial chip materials like gallium and germanium, are sending tremors throughout the Asian semiconductor industry. A … Read more A sinister specter is looming over Asia’s technological landscape. The region, renowned as a powerhouse for global chip production, now faces a new challenge that threatens to unhinge its dominance: China’s export restrictions. Chinese trade policies, particularly those regarding crucial chip materials like gallium and germanium, are sending tremors throughout the Asian semiconductor industry. A balancing act: Trade and technology The…

TL;DR Breakdown Fidelity plans to convert six of its mutual funds, totaling $13.2 billion, into ETFs by November this year. The change aims to provide investors with greater trading flexibility, increased transparency, lower expenses, and enhanced tax efficiency. Despite some funds experiencing outflows, others attracted substantial inflows, painting a mixed picture of the current status. Description In a landmark move that echoes the larger currents of change sweeping the investment industry, Fidelity, the financial behemoth, is set to translate a sizable portion of its mutual funds assets—$13.2 billion to be precise—into Exchange Traded Funds (ETFs). This shift, slated for November this year, signals a visionary approach from Fidelity, one that could … Read more In a landmark move that echoes the larger currents of change sweeping the investment industry, Fidelity, the financial behemoth, is set to translate a sizable portion of its mutual funds assets—$13.2 billion to be precise—into Exchange Traded Funds (ETFs). This shift, slated for November this year, signals a visionary approach from Fidelity, one that could redefine the investment landscape while providing compelling benefits to its investors….

Description When Elon Musk took over Twitter, a lot of promises were made. Hopes were flying up for Twitter users. Now eight months later, and Twitter is at the brink of death. Literally. As Elon Musk tries to hold on to his loyal users, comes in his rival Mark Zuckerberg, the brain behind Facebook, Instagram, and … Read more When Elon Musk took over Twitter, a lot of promises were made. Hopes were flying up for Twitter users. Now eight months later, and Twitter is at the brink of death. Literally. As Elon Musk tries to hold on to his loyal users, comes in his rival Mark Zuckerberg, the brain behind Facebook, Instagram, and WhatsApp. These are three of the most popular social media platforms of all time. So it’s really not a surprise that Zuckerberg’s new app is taking the world by storm, precisely Elon Musk’s customers, who in all honesty, seem to be tired of Twitter and Musk’s shenanigans. The users’ 13th reason why was when Musk decided to place limits on accounts that do not pay him…

TL;DR Breakdown The EU is pushing to create its own metaverse to challenge the dominion of American tech giants like Meta. The EU proposes eliminating “walled gardens” through shared standards to create a more democratic and inclusive virtual space. The EU seeks to support open-source projects and tech startups, stimulating the European tech ecosystem and promoting competition. Description In a world increasingly moving towards digital and virtual platforms, the significance of a European metaverse is steadily rising. But why? The answer lies in the continent’s quest to challenge the dominion of American tech giants and create a virtual space that offers more than just the whims of Silicon Valley. Breaking down the walled … Read more In a world increasingly moving towards digital and virtual platforms, the significance of a European metaverse is steadily rising. But why? The answer lies in the continent’s quest to challenge the dominion of American tech giants and create a virtual space that offers more than just the whims of Silicon Valley. Breaking down the walled gardens Brussels, the administrative heart of the European Union,…