JPMorgan Talks about Possible Outcome between El Salvador and IMF Following Crypto-Legalization 0 36

When it comes to the adoption of cryptocurrencies by an institutional financial body, there is nobody that comes close to JPMorgan. There used to be a time when JPMorgan was right beside the Bank of America and other major financial institutions in opposing cryptocurrencies.

As time changed as well as the situation around cryptocurrencies, JPMorgan turned soft and flexible around cryptocurrencies. It soon became a cryptocurrency proponent and since then, any statement it has released is in favor of the crypto-verse.

Even when the overall crypto-verse is facing the worst time, where Bitcoin (BTC) is in the worst situation, it finds the full backing of JPMorgan. Despite the current bearish trend being observed by Bitcoin (BTC), JPMorgan is sticking to its $146k per BTC prediction by the end of 2021.

As JPMorgan is a financial banking giant as well as a security provider to its cryptocurrency investors, it is expected of JPMorgan to pay very close attention to cryptocurrency markets.

Being a proponent for cryptocurrencies and Bitcoin (BTC), JPMorgan has earned the right to have its fair share of advice and remarks over global adoptions of cryptocurrencies.

Since the last week, the hottest topic in the cryptocurrency industry as well as globally is none other than El Salvador’s legal tender for cryptocurrencies. On June 9, 2021, El Salvador Parliament voted with the vast majority in favor of legalizing cryptocurrencies in the country.

This caused a huge ripple in the entire crypto-verse as well as the entire real-world as other Latin American countries are also boarding the crypto-ship. Countries such as Brazil, Panama, and Mexico are also looking to legalize cryptocurrencies to benefit from the industry on a large scale.

Now that El Salvador has expedited the process of adopting cryptocurrencies, the IMF has jumped in and shared its concerns over the matter. The IMF has claimed that the recent move made by El Salvador may end up raising many legal and financial concerns.

Therefore, JPMorgan has commented on the recent developments and the recent statement made by IMF’s spokesperson Gerry Rice.

JPMorgan stated that the recent move made by El Salvador is not to bring stability to the economy, it is to bring growth to it. The country has shifted its orientation from stabilizing its economy to growing it and cryptocurrencies are a vital step towards this movement.

The banking giant has stated that it is not just the President of El Salvador who is after economic growth. It is the entire regulatory and federal structure of the country that wants it and the recent passing of the bill is very demonstration of that.

The bill received a historic approval rate from the parliament of El Salvador, which was 62 votes out of total of 84 votes in favor of the bill.

However, the IMFT may not see it the way El Salvador sees it and this may result in hampering the negotiations between IMF and El Salvador.

El Salvador is reportedly in talks with IMF over a $1 billion loans to deal with the potential budget deficit of $3.2 billion it is expecting to face in 2021.

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Mila Kunis Sold NFTs of Her Animated Series “Stoner Cats”, Sales Collect Over $8 Million 0 5

Mila Kunis, an American producer, and actress has successfully sold her NFTs for millions of dollars. The NFTs comprise teaser of the upcoming animated series of Kunis namely “Stoner Cats”. Only the purchasers of Stoner Cats NFTs will exclusively enjoy the privilege of watching the series, which is currently in the final phase of its completion at Orchard Farm Productions.

The global crypto community nowadays is going gaga about the Non-Fungible Tokens (NFTs) created by Mila Kunis.

Kunis is an acclaimed producer and appeared in various roles in the movies as a lead actress. Her most admired lead role was played by the actress-cum-producer in the movie titled “Black Swan”. She is married to co-star, Ashton Kutcher and both, individually and collectively, own multiple businesses. One of the businesses that Kunis runs is the production house called “Orchard Farm Productions”.

One of the latest upcoming projects of Kunis’s production house is a fully entertaining animated series called the “Stoner Cats”. The series has been co-created by Kunis along with her husband, Kutcher. Prior to the completion of the upcoming project, and before its onscreen playing, Kunis decided to issue a teaser in the most unique fashion. She eventually decided to launch the teaser by containing it in the Non-Fungible Tokens (NFTs).

It was reported that celebrities such as Seth MacFarlane, Chris Rock, and Jane Fonda are playing roles in the Stoner Cats series. Apart from the actors, even a role has been assigned to Vitalik Buterin i.e. the co-founder of Ethereum. It was told that Buterin was playing the role of a character in the series as “Lord Catsington”.

As regards the storyline of the series, it was told that the story revolves around a woman named “Ms. Stoner” who is suffering from Alzheimer’s. Ms. Stoner happens to have various cats living in her house and she is very fond of them. However, to keep her health in order, Ms. Stoner starts taking medicines made up of marijuana. Somehow the cats living in her house were accidentally exposed to marijuana smoke which led them to talk like insane.

A 27-seconds long video clip of the upcoming series has been made available on the website of Stoner Cats. The video gives a glimpse of the story to the viewers. However, the full video content in the series would not be available to view by everyone. In fact, only those will be allowed to watch the full content who have purchased the NFTs.

Reportedly, Kunis has managed to sell approximately 10,000 NFTs of the upcoming Stoner Cats series. Surprisingly, all the 10K NFTs were sold in only 35 minutes since the initiation of the sales. Each NFT was sold against 0.35 ETH i.e. equivalent to US$ 800/- each. It was informed that the total sale of NFTs collected sale proceeds to the tune of US$ 8.4 Million approximately.

Chris Larsen Ripple Chairman Shows Concern over Dogecoin and Issues Warning to Holders 0 10

Larson now joins the list of some of the world’s most renowned crypto scholars who have revealed their concerns about Dogecoin and told investors to think twice about over-investing in Dogecoin. Ripple Chairman informed investors about the risks associated with investing in Dogecoin. He compared it to gambling and said that most people who gamble end up on the losing side.

Since the Wall Street Bets movement broke out earlier this year, several prominent figures in the encryption field, including Charles Hoskinson and Barry Silbert, have issued similar warnings. However, as of this writing, Dogecoin remains the world’s top-10 cryptocurrency. Although people are now trying to ignore Elon Musk, Larson pointed out that a large part of Dogecoin’s success is due to the head of Tesla. But when he “ditched” Bitcoin, Larson thought he could abandon Dogecoin too.

During his critique, Larson also opened up about Dogecoin’s supply overflow and currency algorithm. He said that company’s algorithm is not environmentally friendly at all. He also questioned the overall mechanism by saying that it is far away from the market’s required quality.

To invest in some sort of memes-oriented company and Musk is nothing short of gambling. Seasoned and mature investors would never likely go for this option it’s rigidly off the cards. Investing in Dogecoin while eying the moon or space is nothing less than nonsense.  Despite the fact that Dogecoin was down to 74% three months ago. But since then, Dogecoin has remained stable and now its price is stable at a flat rate.

However, over the past week the currency being trade tightly between $0.19098 – $0.22888. In the past ten weeks, its momentum has been firmly entrenched in the lower half of the RSI chart. It seems that RSI is beginning to bend downward again. Even though it’s a massive ask for Dogecoin to rise above $1 mark in the coming three to four months but still investors are getting advantage of the low-price range and pilling up Dogecoin in their digital assets’ platform. The active hunters of Dogecoin do have their perspective of long-term investment, as some of the crypto scholars have labeled Dogecoin as a future long-term investment.

Despite facing staunch criticism from the critic’s Dogecoin is among the top 10 digital currencies. Traders have divided points of view about the funny nature of Dogecoins as currency is often mentioned as memes powered one. Those who showed their support for Dogecoin argued that despite the funny nature of the currency, Dogecoin has outperformed some of the renowned cryptocurrencies in terms of performance.  The unnecessary criticism could be a sign of danger or self-obsession towards Dogecoin.

 

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