all about cryptop referances
Another week has passed in the world of crypto and finance, with the anniversary of Bitcoin creator Satoshi Nakamoto’s last known emails, predictions of a massive drop in Americans’ living standards, and important developments at the struggling First Republic Bank. All this and more right below, in the latest Bitcoin.com News Week in Review.
12 years ago, on this day, April 23, 2011, a cryptic person known only as Satoshi Nakamoto wrote one of the last correspondences to software developer Mike Hearn. The elusive mastermind behind Bitcoin conveyed in the message that he, she or they had “moved on to other things” and confidently claimed that the project was entrusted to “good hands”.
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Economist Peter St Onge has warned that weaponizing the US dollar will lead to “increasing inflation, a catastrophic decline in American living standards and a US falling off the world stage.” Commenting on the economist’s warnings, Tesla and Twitter CEO Elon Musk weighed in on de-dollarization.
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In the midst of a turbulent week, First Republic Bank is struggling to regain its footing in the financial world. Reports have emerged that the bank is poised to enter receivership due to a massive outflow of $100 billion in customer withdrawals last month. This has sent investors fleeing the bank, sending shares plunging over 50% on Tuesday.
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Economist Peter Schiff has warned that a death knell is coming for the US dollar and that the USD will lose its global reserve currency status in this financial crisis. “People are still reluctant to call it a financial crisis, but that’s exactly what it is, except it’s bigger in scale and it’s going to have far more impact than the 2008 crisis,” Schiff stressed.
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What are your thoughts on this week’s hottest stories from Bitcoin.com News? Be sure to let us know in the comments section below.
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