Week 13, wrapping up with the Pen team, with a new twist of the weekly pen format. Giving you the most happening, trending, and impacting news of all things global economy, crypto, payments, finance, investment, politics, tech, and much more, related to the realms in which Penning operates and the world in which we all live. This week offered a range of mixed news, confusing the market more, and painting a rather colorful picture for the future, with trillion-dollar future market predictions giving a clearer path for the road to redemption. Without further ado, have a good read.
China's cities are buried in debt, but they keep shoveling it on.
Elon Musk sounds the alarms about the U.S. dollar.
Elon Musk seeks to end $258 billion dogecoin lawsuit.
Goldman Sachs predicts 300 million jobs will be lost or degraded by artificial intelligence.
Banks lean harder on Fed’s emergency lending program.
El Salvador removes all taxes related to tech innovation for economic growth.
Preparing for a multipolar currency world.
Designed to ditch the US dollar coming from BRICS nations according to a new report.
Pentagon should mine bitcoin to stay as a superpower, says Space Force major
JPMorgan chief Jamie Dimon to be interviewed under oath in Jeffrey Epstein lawsuits
Saudi Arabia enters a trade alliance with China, Russia, India, Pakistan, and four central Asian nations.
US regulator sues top crypto exchange Binance, CEO for ’willful evasion’.
US Judge says, governance tokens might carry legal liability.
Kraken got sued by the SEC and was forced to shut down its staking services.
Biden calls for tougher bank rules but omits calls for legislation.
Democrats focus on capital rules after bank failures.
Chinese officials call for stronger global regulation of crypto.
Yellen says the US must address vulnerabilities in ’shadow banking'.
Google founder, former Disney exec to get subpoenas in JPMorgan Epstein lawsuit.
U.S. Futures Watchdog Issues Compliance Rule for Crypto Activities Among Members
Terra co-founder Daniel Shin’s arrest was denied by the court, citing low flight risk.
TikTok Ban in the U.S. could affect the crypto industry.
Bitcoin is poised to blow up Africa's $ 86 billion banking system.
Jim Cramer out with a special message for crypto exchange and CZ responded.
Former FTX CEO seeks $10M insurance fund for legal defense, a request opposed by FTX debtors and unsecured creditors.
Looming $300 trillion crypto ’quantum leap’ revealed amid huge bitcoin and Ethereum price pump.
SBF’s legal defense is being funded with Alameda money he gifted his father.
JPMorgan says, crypto participants becoming more reliant on stablecoins following Silvergate Bank closure.
Coinbase calls for efforts to create inflation-proof stablecoins.
FYX EU Ltd. launched a website for customers to request withdrawals.
TUSD Stablecoin Daily Trading Volume Surpasses $1B After Binance Boost.
Shiba Inu's Testnet 'Puppynet' Sees Rising Activity Ahead of Shibarium Mainnet.
Crypto Exchange Bittrex to Wind Down U.S. Operations Next Month.
More than 3,600 Bitcoin ATMs went offline to record the largest monthly decline.
New fintech startups unveil the world’s first time-traveling cryptocurrency.
Billion dollar industry in Paris begins accepting SHIB as payment.
China makes advances in ditching the US Dollar for settlements – Inks Deal with Brazil and completes First Yuan LNG purchase.
Mastercard and Visa eye $ 1 billion deal for Brazil’s Pismo.
JPMorgan going after the $6T biometric payments opportunity.
First Citizens enters an agreement to buy Silicon Valley Bridge Bank.
UBS brings back former CEO Sergio Ermotti after Credit Suisse deal.
Credit Suisse bankers and clients courted by Swiss rivals.
Banks in France face more than $ 1.1 billion in fines after raids.
After the signature bank was sold, U.S. regulators said its crypto business must be shut down.
The future of banking has no banks, Berstein says.
Investors pour money into crypto investment for 4th straight month.
Andreessen Horowitz is now openly courting capital from Saudi Arabia, despite U.S. strains.
Depositors yank another $126 billion from US banks.
Elon Musk revives old Banking Dream in pursuing $ 250 billion Twitter valuation.
Wall Street bonuses tumbled 26% last year amid a dealmaking slump.
Fidelity’s latest valuation markdowns of companies like Stripe and Instacart paint a grim picture for late-stage startups.
Michael Burry says he was wrong to tell investors to sell.
BlackRock issues stark Fed warning after huge bitcoin and Ethereum boom.
Citi says mass adoption of crypto will be driven CBDC's and tokenization.
Money market funds swell by more than $286bn amid deposit flight.
European stocks log gains of over 7% for the 1st quarter despite turmoil in the banking sector.
U.S. cities are filling up with luxury apartments despite ’ the housing recession.
SVB collapse complicates banks’ efforts to unload over $ 25 billion of Junk Debt.
Nasdaq records the best quarter since 2020 after a volatile start to the year.
MicroStrategy repays the $250M silver gate loan and adds 6,455 BTC.
Cathie Wood's ARK funds snap up block after short-seller report.
Elon Musk expects about a $ 20 billion loss on Twitter investment.
Bets against signature bank stock paid off, but only on paper.
Citi says tokenized securities market could reach $ 4 trillion by 2030.
Silicon Valley Bank stock responded with some wild swings after reopening for trading.
Major energy companies are trading tokenized emissions credits.
AI gives an answer to what Satoshi Nakamoto looks like.
Argentinian Airline issues every ticket as an NFT.
Disney Eliminates its metaverse division as part of the company’s Layoff plan.
TraderJoe is the fastest-growing dex after the shift to Uniswap v3-Like model.
Aribitrum airdrop is helping smaller DAOs survive the bear market.
Metaverse visions are vanishing as consumers gravitate to the digitally connected economy.
European DeFi startups saw a 120% increase in VC funding in 2022.
- Till we yield again
*Disclaimer: This article is not financial or investment advice, nor should it be perceived as such. Penning Group and the author shall not be held accountable for any misinterpreted information by the reader. If you are interested in learning more about investing in the DeFi space and in general, please get in touch with us.