BITCOIN

The World Bank has warned of a possible global recession. “For many countries, recession will be hard to avoid,” said World Bank President David Malpass. “This is the sharpest slowdown in 80 years.” World Bank on Global Recession, Stagflation The World Bank warned about the rising risk of stagflation and global recession Tuesday. World Bank President David Malpass said: The war in Ukraine, lockdowns in China, supply-chain disruptions, and the risk of stagflation are hammering growth. For many countries, recession will be hard to avoid. “Markets look forward, so it is urgent to encourage production and avoid trade restrictions. Changes in fiscal, monetary, climate and debt policy are needed to counter capital misallocation and inequality,” he explained. The World Bank president clarified on Bloomberg Tuesday that we are not in a global recession yet. However, “The downside risk is that it could be a global recession,” he opined. “One of the key variables is whether supply comes...

Citadel Securities and Virtu Financial are reportedly building a cryptocurrency trading platform with help from Fidelity Investments and Charles Schwab. “We know there is significant interest in this cryptocurrency space and we will look to invest in firms and technologies working to offer access with a strong regulatory focus and in a secure environment,” said Schwab. Citadel, Virtu, Fidelity, Schwab Building Crypto Trading Platform Global market maker Citadel Securities and Virtu Financial are building a cryptocurrency trading platform with help from retail brokerage giants Fidelity Investments and Charles Schwab, Bloomberg reported Tuesday, citing people familiar with the matter. The crypto product is still in its early development, the people said, adding that it could be available late this year or early next year. A spokesperson for Schwab, Mayura Hooper, said the brokerage giant “has made a minority, passive strategic investment in a new digital asset venture.” She added: ...