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In 2023, Delaware saw nearly 300,000 new companies established, while South Dakota trusts' managed assets nearly doubled to $680 billion. The U.S. faces criticism for its lax anti-money laundering measures, with significant funding from the U.S. government raising concerns about the independence of the Organized Crime and Corruption Reporting Project (OCCRP), which has exposed financial misconduct linked to Swiss banks.
VanEck proposes that the U.S. could reduce its national debt by $42 trillion by adopting Bitcoin as a strategic reserve asset, potentially offsetting 35% of liabilities by 2049. The plan suggests accumulating one million Bitcoins over five years, leveraging existing government holdings and reallocating gold reserves, without requiring taxpayer funding. This initiative aligns with a bill from Senator Cynthia Lummis and aims to position Bitcoin as a dominant global asset, potentially representing 18% of the world's financial assets by mid-century.
BlackRock has raised concerns about the certainty of Bitcoin's 21 million supply cap, stating there is no guarantee it won't change due to the lack of a central authority. The 21 million figure is derived from a mathematical process involving block rewards that halve every 210,000 blocks, continuing until 2140 when no new Bitcoins will be minted.
Botswana's central bank has called for the establishment of crypto regulations to address potential systemic risks as the interconnectedness between the crypto market and traditional finance grows. While the local cryptocurrency market is currently underdeveloped and poses minimal risks, concerns about money laundering and terrorist financing linked to digital payment instruments necessitate proactive regulatory measures. Enhanced market surveillance and collaboration with law enforcement are recommended to combat illegal activities in the sector.
Two California men, Gabriel Hay and Gavin Mayo, have been arrested and charged with defrauding investors of over $22 million through a series of NFT projects, including Vault of Gems and Faceless. The duo allegedly made false statements about their projects and threatened individuals who tried to expose their fraudulent activities. The Justice Department is committed to combating digital asset fraud and has identified multiple projects involved in the scheme.
Whales have shown strong conviction in Chainlink (LINK) amid a recent price dip, accumulating over $44 million worth of the token as its price briefly fell to $20.1 before recovering to over $23. Wallets holding between 10 million and 100 million LINK coins increased their holdings significantly, while nine new wallets withdrew 362,380 LINK tokens from Binance, indicating bullish sentiment among large investors. Chainlink is also leading the real-world assets sector in development activity, partnering with major companies like Coinbase and SWIFT, and is projected to see a price increase of over 53% by January 2025.
UBS economists predict the Federal Reserve will implement its next interest rate cut of 25 basis points in June, followed by another in September, totaling 50 basis points for 2025. This follows a recent cut that brought the target range to 4.25%-4.5%. The Fed's updated outlook indicates a more cautious approach, with potential adjustments extending through 2027, while the U.S. dollar is expected to remain strong amid political factors, despite signs of overvaluation.
UBS economists predict the Federal Reserve will implement a 25 basis point interest rate cut in June, followed by another in September, adjusting their forecast in light of a more hawkish dot plot. The Fed's recent cuts total 100 basis points since September, with a cautious outlook for future reductions amid stronger-than-expected economic growth and persistent inflation. The U.S. dollar has rallied, driven by political factors and interest rate movements, although UBS warns of potential overvaluation and limits to further strength.
Hermès shares have shown a bullish trend, recovering over 15% since late November, reaching €2,300, close to their March record of €2,432. The stock's positive momentum is supported by favorable technical signals, although the global economic outlook and potential US trade policies remain critical factors influencing performance. Investors are advised to consider buying above €2,220, targeting €2,400 and €2,500, with a stop at €2,200.
UBS has increased its price target for Broadcom from $220 to $270, maintaining a "Buy" rating following the company's quarterly results. Analyst Timothy Arcuri highlighted significant revenue growth projections in the artificial intelligence sector for the fiscal years 2026 and 2027.
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13:00 23.12.2024
vanEck proposes bitcoin reserve to reduce us national debt by 42 trillion
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BlackRock questions Bitcoin's 21 million supply cap amid market uncertainty
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Botswana central bank advocates for proactive crypto regulations to mitigate risks
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california duo faces fraud charges in 22 million dollar nft scheme
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ubs forecasts federal reserve rate cuts in june and september
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ubs forecasts federal reserve rate cuts in june and september
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hermes shares show signs of recovery amid economic challenges
12:45 23.12.2024
UBS raises Broadcom price target to 270 dollars citing strong AI growth
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