The past week has been a whirlwind of news in the world of cryptocurrency and finance. From Robert Kiyosaki’s bold predictions of the U.S. Federal Reserve to President Donald Trump’s potential penalties on banks, there’s a lot to unpack.
Let’s dive into the top stories of the week.
Robert Kiyosaki: Trump’s Crypto Vision
Author Robert Kiyosaki has offered his insights on the future of the U.S. Federal Reserve in light of recent developments in cryptocurrency policy. Kiyosaki believes that Trump’s dedication to making the U.S. a global hub for cryptocurrency could lead to the dissolution of the Federal Reserve. However, no official steps have been taken to either remove Fed Chairman Jerome Powell or disband the central bank.
Trump’s Penalties On Discriminatory Banks
The White House is reportedly preparing an executive order to impose penalties on banks accused of discriminating against conservatives and cryptocurrency firms. The news came out on Monday, but details about the potential penalties remain unclear.
See Also: XRP Trades Higher On Crypto Market Rebound — Analyst Sets Price Target At $7
Bitcoin: The Digital Real Estate?
Bitcoin BTC/USD is being redefined by institutions, not as a volatile asset, but as digital infrastructure similar to real estate. This perspective was shared by Fundstrat co-founder and Bitmine chairman Tom Lee, who compared owning Bitcoin to owning the land under a McDonald‘s franchise.
Scaramucci’s Endorsement Of Avalanche
SkyBridge Capital founder and cryptocurrency advocate Anthony Scaramucci has endorsed the Avalanche network, suggesting it is on the brink of significant growth.
Arthur Hayes’ Bitcoin and Ethereum Predictions
Arthur Hayes, Chief Investment Officer of Maelstrom and co-founder of BitMEX, anticipates a sharp correction in Bitcoin and Ethereum ETH/USD due to potential macroeconomic jitters. Hayes believes that a speculated U.S. tariff bill in the third quarter, along with the release of the lower-than-expected July jobs data, is likely to exert increased macroeconomic pressure.
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This story was generated using Benzinga Neuro and edited by Ananya Gairola
Photo Courtesy: Volodymyr Maksymchuk on Shutterstock.com
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