Cryptocurrencies hold “no societal benefits,” and should instead be seen as a form of gambling, according to European Central Bank (ECB) board member Fabio Panetta.
He also made it clear that he believes digital assets lack intrinsic value because they are not backed by any central authority or institution, and therefore also lack trust.
This makes crypto “inherently highly volatile and unsuitable as a means of payment,” Panetta told the audience at the BIS’ 22nd Annual Conference in Basel, Switzerland.
Pakistani actor Saboor Ali showed off his hidden talent during his isolation during a coronavirus outbreak. Gul-o-Gulzar’s character has taken to Instagram to share his pictures with fans and show him his hidden talent. reconnect with the things you love to do … Although I was very scared to hold a brush after ten years,…
With a dream to rethink neighborhood, Shaan-e-Pakistan is a three-day occasion planned for bringing nations closer through common energy about craftsmanship, music, nourishment, style and culture while simultaneously depicting Pakistan in a positive light. Facilitating Pakistani ability just as offering stage to rising ability, the current year’s occasion was booked to occur in Sri Lanka,…
Digital Currency Group responded to the lawsuit filed by Gemini alleging it defrauded its creditors by calling it a “publicity stunt” by Cameron Winklevoss. Gemini revealed yesterday that it has filed a lawsuit against DCG and its CEO Barry Silbert for orchestrating and directly perpetrating a fraud against creditors. Gemini claimed that the DCG CEO pushed to…
A Brooklyn-based bathhouse and spa has sparked debate after it revealed it was operating a small-scale Bitcoin (BTC) mining operation that heats its swimming pools. In a Wednesday Instagram post, Bathhouse revealed that its pools are heated with byproduct energy from Bitcoin mining. The bathhouse uses the heat generated from Bitcoin mining rigs, hardware systems that execute the Bitcoin network’s…
Commodity Futures Trading Commission (CFTC) investigators have ruled that crypto lender Celsius Network and its former CEO Alex Mashinsky violated US rules before the company collapsed. The findings suggest that Celsius misled investors and failed to register with the CFTC, Bloomberg reported Wednesday, citing people familiar with the matter. If the majority of the CFTC’s commissioners agree with these conclusions, the…
Johnny Depp’s supporters tease Amber Heard after the couple’s new sound came out suggesting that the Pirates of the Caribbean had been keeping domestic abuse and physically abused by his ex-wife. The conversation between the couple was filmed with their permission as the couple worked on their troubled marriage before they separated. The tape was…