BITCOIN

U.S. presidential candidate Robert F. Kennedy Jr. (RFK Jr.) has warned of severe consequences of a nuclear war between the U.S. and Russia. In one estimate, more than five billion people could die from a war between the two nations, including around 99% of those in the U.S., Europe, Russia, and China. RFK Jr on Potential US-Russia Nuclear War U.S. presidential candidate Robert F. Kennedy Jr. has raised concerns about the severe consequences of a nuclear war between the U.S. and Russia in a series of tweets. RFK Jr. is a son of former U.S. Attorney General and Senator Robert F. Kennedy and nephew of former U.S. President John F. Kennedy. The presidential hopeful wrote on Sunday: How would a nuclear war between the U.S. and Russia affect you? He also shared a video that outlines what the aftermath of a full-scale nuclear war between Russia and the U.S. could look like based on non-classified data. The video referenced a research paper published in August last year, which estimate...

Representative Patrick McHenry, chairman of the House Financial Services Committee, weighed in positively on the launch of PYUSD, a dollar-pegged stablecoin issued by Paypal, a U.S.-based payments company. McHenry stated that if properly regulated, stablecoins “hold promise as a pillar of our 21st-century payments system,” calling on Congress to put clear rules on the sector by enacting stablecoin-specific regulation. Representative McHenry States Stablecoins Might Become ‘Pillar’ of Current Payment Systems U.S. Representative Patrick McHenry issued a statement on Monday, weighing in on the significance of the recent U.S. dollar-pegged stablecoin launched by payments behemoth Paypal. McHenry, chairman of the House Financial Services Committee, viewed this development positively, stating that Paypal’s announcement was “a clear signal that stablecoins—if issued under a clear regulatory framework—hold promise as a pillar of our 21st-century payments system.” Paypal announced the lau...

Palauan senator Mark Rudimch has called for an audit of Palau’s stablecoin pilot program, launched by the country’s ministry of finance in partnership with Ripple in July. In a letter sent to the public auditor Satrunino Tewid, Rudimch reported the Palauan senate had concerns regarding the “constitutionality, security, accountability, statutory authority, and oversight of the program.” Palau’s Ripple-Backed Stablecoin Pilot Faces Senate Opposition Palau’s Ripple-backed stablecoin program, launched and announced in July, faces opposition from the Palauan senate. According to local reports, Senator Mark Rudimch, chairman of the Senate Resources, Commerce, Trade and Development Committee, has requested Public Auditor Satrunino Tewid audit the program, voicing various concerns regarding the ongoing test. In a letter sent to Tewid, Rudimch stated : The Senate has some concerns regarding the constitutionality, security, accountability, statutory authority, and oversight of the program....

Federal Reserve Governor Michelle Bowman says additional interest rate increases will likely be needed to get inflation on a path down to the Fed’s target. “I will also be watching for signs of slowing in consumer spending and signs that labor market conditions are loosening,” the Fed governor added. More Interest Rate Hikes Likely Needed, Says Fed Governor Federal Reserve Governor Michelle Bowman indicated in her remarks on Saturday at an event hosted by the Kansas Bankers Association in Colorado that the U.S. central bank may need to implement additional interest rate increases to completely restore price stability. She also affirmed her endorsement of the rate hike decision made at last month’s Federal Open Market Committee (FOMC) meeting. In July, Fed officials raised the federal funds rate to a range of 5.25% to 5.5%, the highest level in 22 years. Governor Bowman stated: Additional rate increases will likely be needed to get inflation on a path down to the FOMC’s 2% targe...