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Reddit made another step towards going public. The social media giant announced filing a confidential draft statement for a planned IPO this Wednesday. The company filed a draft registration statement with the U.S. Securities and Exchange Commission (SEC). The registration statement uses SEC Form S-1. Public companies in the US use the form to register new securities. The SEC requires this form and doesn't allow stock listing on the national exchange without it. Usually, companies submit the S-1 Form before their initial…

As expected, massive inflation prompted the Fed to turn hawkish on inflation. On Wednesday, the Federal Reserve stated that it would speed up the removal of monetary policy support. This includes tapering its $90 billion monthly bond purchases and hiking interest rates. Interest rates are currently at historic lows of 0.25%. What influenced the decision is likely the steep rise in inflation numbers. November CPI, a measure of consumer prices, rose 6.8% compared to the same period last year. Moreover,…

Despite underwhelming Bitcoin prices this December, Kraken CEO Jesse Powell remains bullish on its appreciation long-term. In a recent interview, he stated that the dollar is “is going to zero.” Also, he added that seeing Bitcoin under $40k would simply be a buying opportunity. His comments respond to the out of control US inflation, which the Fed has promised to stop asap. Buy The Dip Powell made his bold prediction in an interview with Emily Chang of Bloomberg Technology on…

Though Bitcoin remains in a price slump since last week’s crash, institutional adoption still looks bullish for long-term holders. Most recently, Idaho Central Credit Union (ICCU) partnered with NYDIG and Alkami Technology to implement Bitcoin buying and selling services. ICCU is rapidly growing, with 480 000 members in 44 locations across the state. Another Credit Union Adopts Bitcoin Alkami Technology – the involved cloud-based digital banking services provider – announced the news on Wednesday. The company provides banking companies with…

The Swiss are taking the gold - to the Ethereum blockchain. After announcing the move back in March this year, Swiss bank SEBA issued its gold-backed stablecoin. The token will allow users to own physical gold digitally. The bank will record the ownership on the Ethereum blockchain - an immutable ledger used to record crypto transactions. Specifically, SEBA says that the token will give investors a more accessible way to hold gold. In particular, investors can use the token to…

Pat Toomey – a crypto-supportive Republican senator – recently spoke at a congressional hearing discussing stablecoins and their risks. He proposed that stablecoin issuers should operate under three different regulatory models – including under bank charter. This comes following the stablecoin report’s release last month, which recommended that chartered banks only issue them. Three Models For Stablecoin Issuers On Tuesday, the hearing titled “Stablecoins: How Do They Work, How Are They Used, and What Are Their Risks?” happened. While there,…

As crypto markets are tanking, traders get some welcomed good news - from an unlikely source. Myanmar's shadow government made Tether its official currency. The National Unity Government, which holds no real political power, stated that it accepts stablecoin Tether. Formed after former leader Aung San Suu Kyi's ousting in February, the group stands in opposition to the military junta. Former government officials that the Junta deposed and pro-democracy groups make up NUG. The shadow government holds no territory. However, they…

It's official - Nike is stepping into the NFT industry, big time. The sports apparel company acquired RTFKT, a virtual shoe company. Nike did not disclose the terms of the deal. However, it did say that the company is at the cutting edge of next-gen collectibles. This acquisition is another step that accelerates Nike’s digital transformation and allows us to serve athletes and creators at the intersection of sport, creativity, gaming and culture Nike's President and CEO John Donahoe said…

Major cryptos are in the red as major stablecoin Tether faces another lawsuit. The Crypto Fear and Greed Index, a measure of crypto sentiment, says it all. After the same opinion dominated last week, market sentiment is at "Extreme Fear" again. Over the last 24 hours, Bitcoin fell below $46,000. It since settled at $47,000. Ethereum, the second-largest crypto, fell to $3,806. Furthermore, smaller coins such as BNB, Solana, Cardano and XRP are all red. Except Doge, which rose after…