Ex-UK Chancellor Hammond Joins Crypto Start-up Copper
Former U.K. chancellor of the exchequer Philip Hammond will join crypto custody firm Copper as chairman. Hammond has been Copper`s senior advisor. Read CNL.
UK
Bears Uphold as BOE Doubles its Temporary QE Bonds
The UK treasury and BOE to increase measures to stop the financial market volatility from extending beyond a $1 trillion segment of the pensions business.
Crypto Investor: British Pound Dropping Like Shitcoin
The pound drops to a new record low after the UK stressed more tax cuts. Crypto investor Lark Davis compared the dropping GBP to a ‘Shitcoin’. The Bank of England is expected to make a move if the situation gets worse. The British pound (GBP) plunges to a record low after the UK government vowed to assert more tax cuts, which fuels uncertainty that will bring new tax policies that will affect both equities and cryptocurrencies. In a tweet, popular bitcoin and crypto investor Lark Davis told his 1 million Twitter followers how troubled he was with the plummeting price
UK to enter recession in Q4 amid energy crisis: Goldman
Goldman Sachs predicts a significant decrease in British economic growth. The United Kingdom (UK) experienced a record high inflation in June. The main drivers of inflation in the UK are energy prices. Goldman Sachs economists are forecasting a severe decline in British growth later this year, attributing the problem to inflation which has reduced the amount of disposable income for families. The investment bank has downgraded its growth forecast for the UK economy from 1.4% to 0.6%. With each passing day, the macro-world economy gets worse. Consumers’ purchasing power has decreased, while producers have been tolerating low demand. The combination
UK Inflation Anticipated to Reach 18.6%
The UK’s inflation might rise to 18.6%, which would be a 50-year high. The surge in July was mostly caused by rising food costs The office of the prime minister is proposing household supporting policies. According to the most recent Citigroup prediction, the UK’s inflation might reach a near 50-year high of 18.6% early next year as a result of skyrocketing wholesale gas costs, writes Andrew Michael. Individuals have gone ahead to give out their views suggesting it could be the same reason as to why they haven`t seen any bull run lately. It however now makes sense to them
UK inflation hits a new 40-year high of 10.1%
In July, the UK’s inflation rate increased sharply to 10.1%. Consumer price inflation has been driven by higher food prices. British central bank predicted the future of the rates. UK inflation accelerated more than expected last month to the highest in 40 years, intensifying a squeeze on consumers and adding to pressure for action from the government and Bank of England. The Consumer Prices Index rose 10.1% in July from a year earlier after a 9.4% gain the month before, the Office for National Statistics said Wednesday. The reading was higher than expected by both the BOE and private-sector economists.
Binance Expands Operations in Europe With Latest Partnership
Binance UK expands its offerings with its latest partnership. The crypto exchange platform announces its partnership with the Fintech Founders Group. Both are thrilled at this step and are looking forward to work together. Binance crypto exchange continues to grow its list of impressive partners. The latest of which comes from Binance UK. In detail, Binance UK announces its joining hands with the UK’s Fintech Founders Association. The not-for-profit organisation will aid and support Binance’s quest to expand its offerings in Europe. The news was proudly broadcasted on Twitter via BSC News’s account. In particular, the Fintech Founders Association is
The UK’s Royal Mint Will Create ‘Emblem’ NFT This Summer
The UK plans to become a global crypto asset technology hub. Stablecoins will soon be accepted as a legal form of payment within the nation. The Royal Mint will create an NFT this Summer to act as the county’s ‘emblem’. With the new regulations looking to brighter days for crypto, the UK’s Chancellor of the Exchequer makes an exciting announcement. In detail, the country plans to become a global crypto asset tech hub. Specifically, the Chancellor of the Exchequer — Rishi Sunak, says that it is his ambition to make the UK a global crypto asset tech hub. In addition,
Binance Services Says Goodbye to the UK
UK bans Binance services in the country. Binance maintains its top 5 positions in the crypto market. The hunt against crypto exchanges in different countries continues. This time the UK government shuts down Binance activities in their country. As per the UK authorities, Binance holds no authorization, registration or license to conduct activities in the UK. As a result, most of the Binance activities in the UK are being banned. Indeed, this movement made by the UK authorities saddened the crypto community in the country. The U.K. Financial Conduct Authority (FCA) explained: “A significantly high number of crypto asset businesses
