Elizabeth Warren Calls for Stricter Crypto Regulation Amid Concerns of Fentanyl Trade Funding

Introduction: U.S. Senator Elizabeth Warren has raised concerns about the use of cryptocurrencies in funding the illicit fentanyl trade, emphasizing the need for tighter regulation of the crypto industry. During a Senate Banking Committee hearing, Warren highlighted the significant quantities of precursor drugs being exchanged for cryptocurrencies, potentially resulting in the production of billions of…

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Euro Holds Ground as ECB Signals Further Policy Tightening, Dollar Pauses on Rate Hike Expectations

Introductory Remarks: The euro managed to stay above a recent two-month low on Thursday, bolstered by European Central Bank (ECB) President Christine Lagarde’s emphasis on the need to further tighten monetary policy to combat persistent high inflation. Despite a marginal decline in Eurozone inflation to 6.1% in May, it still remains significantly higher than the…

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Elon Musk Predicts a Real Estate Meltdown, Blames Fed’s Interest-Rate Hikes

This week, Elon Musk, the high-profile CEO of Tesla, SpaceX, and now Twitter, set the financial markets abuzz with his warning about potential downturns in the US real estate sector. Musk’s public comments expressed his worry that the Federal Reserve’s recent interest-rate increases may significantly undermine the value of commercial and residential properties. Musk sparked…

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