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Musk: Teslas electric semi-truck will begin mass production this year.February 9th - Goldman Sachs trading arm stated that after a rebound in U.S. stocks last Friday, almost recovering the weeks brutal losses, this week will face further selling pressure from trend-following algorithmic funds. The S&P 500 has broken through a short-term trigger point, prompting commodity trading advisors (CTAs) to sell stocks. Goldman Sachs expects these systematic strategies, which track stock market movements rather than fundamental factors, to remain net sellers in the coming week, regardless of market direction. Goldman Sachs stated that if the stock market falls again, it could trigger approximately $33 billion in selling this week. If market pressure persists and the S&P 500 falls below 6707 points, there could be as much as $80 billion in systemic selling over the next month. In a stable market environment, CTAs are expected to sell approximately $15.4 billion in U.S. stocks this week, and even if the stock market rises, these funds are still expected to sell approximately $8.7 billion.February 9th - Goldman Sachs trading arm stated that after a rebound in U.S. stocks last Friday, almost recovering the weeks brutal losses, this week will face further selling pressure from trend-following algorithmic funds. The S&P 500 has broken through a short-term trigger point, prompting commodity trading advisors (CTAs) to sell stocks. Goldman Sachs expects these systematic strategies, which track stock market movements rather than fundamental factors, to remain net sellers in the coming week, regardless of market direction. Goldman Sachs stated that if the stock market falls again, it could trigger approximately $33 billion in selling this week. If market pressure persists and the S&P 500 falls below 6707 points, there could be as much as $80 billion in systemic selling over the next month. In a stable market environment, CTAs are expected to sell approximately $15.4 billion in U.S. stocks this week, and even if the stock market rises, these funds are still expected to sell approximately $8.7 billion.US President Trump: The US election is full of fraud and theft, and has become a laughing stock around the world.Market news: Multiple explosions were heard in Kyiv, the capital of Ukraine.

Binance and Mastercard to Launch Prepaid Card in Inflation Battered Argentina

Jimmy Khan

Aug 05, 2022 14:50

On August 4, Binance announced a partnership with Mastercard (MA) to launch the "Binance Card" in the economically troubled country of Argentina.


The prepaid card aims to bridge the gap between cryptocurrencies and conventional transactions, claims the statement. It was also mentioned that Argentina was the first country in Latin America (LATAM) to receive the items.


Binance Card is the company's most recent effort to broaden the use of bitcoin and electronic payments, but it is still under development.

Worldwide Payments Using Crypto Cards

Everyone in the country who has a valid national ID card may conduct bitcoin transactions and pay bills using the Credencial Payments credit card. More than 90 million physical and online Mastercard companies will accept the card globally.


The retailer will get a real-time fiat conversion of the bitcoin balance on the card. Additionally, cardholders may get up to 8% in bitcoin cashback on certain purchases, as well as 0% ATM withdrawal costs. Users may see and manage transactions and payments via the Binance website and mobile app.


According to Walter Pimenta, Executive Vice President of Products and Innovation at Mastercard Latin America, the company's "operation with digital currencies builds on our robust basis to give choice and peace of mind when clients buy and pay."


Payments are one of the first and most obvious uses for cryptocurrencies, but Maximiliano Hinz, general director of Binance in Latin America, said that adoption still has a lot of room to grow.


As Argentinians deal with increasing inflation and increased living costs, the decision was reached. 


According to Trading Economics, the country's astonishing 64 percent inflation rate in June was among the highest in the whole world. 90 percent is predicted to be reached by year's end.


Many people have already begun to hold dollar-pegged stablecoins like Tether (USDT) and Circle's USDC in order to hedge against the Peso's fast devaluation. Since this time last year, the Peso's value against the US dollar has decreased by more than a third. As a result of increased demand, stablecoins are more costly on Argentine exchanges.


The president of Argentina has swore in three new economics ministers in the last month. Sergio Massa has pledged to stop the excessive money creation that fuels inflation.

Markets for cryptocurrencies grow

The cryptocurrency markets have stayed steady over the last 24 hours, with a little dip in total capitalization to $1.1 trillion. Since their seven-week and weekend highs, the market has lost over $50 billion.


In response to the announcement, the BNB token on Binance performed strongly, bucking the daily fall with a gain of 2.5 percent and climbing back to levels above $300. BNB has fared considerably better than its rivals during the crypto storm, having "only" lost 55 percent of its value from its peak in May 2021.

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