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By Michael S. Derby, Ann Saphir NEW YORK (Reuters) -Federal Reserve Chair Jerome Powell said on Wednesday the U.S. central bank has no desire to be involved in any government effort to stockpile large amounts of bitcoin. “We’re not allowed to own bitcoin,” Powell said at a press conference following the Fed’s latest two-day policy meeting, in which policymakers cut rates as expected while signaling a less certain path for monetary policy in the months ahead. In terms of the legal issues around holding bitcoin, “that’s the kind of thing for Congress to consider, but we are not looking for a law change at the Fed,” Powell said. The Fed chief was addressing the prospect of central bank involvement in the idea of the government building a so-called Strategic Bitcoin Reserve once President-elect Donald Trump takes office. Powell’s comments dented the value of bitcoin, which has rallied sharply along with other crypto assets since Trump’s victory in the Nov. 5 election on the prospect of a more hands-off government approach to a class of assets that rarely functions as actual money, but is instead largely used as a vehicle for speculation. Trump has suggested he will create a U.S. bitcoin strategic reserve. But the incoming president has not provided details on what such a reserve would entail, beyond saying its initial holdings could include bitcoin seized from criminals, a stockpile of about 200,000 tokens worth about $21 billion at current prices. Bitcoin has more than doubled this year to more than $100,000 on optimism over Trump’s pro-crypto stance. The asset has proven volatile in its 15 years of existence, which analysts say reduces its utility as a store of value or a unit of exchange, key attributes of a reserve currency. Republican Senator Cynthia Lummis has introduced a bill to create such a reserve, under which the U.S. Treasury would buy 200,000 bitcoins annually until the stockpile reaches one million tokens. The purchases would be funded by Fed bank deposits and gold holdings. Funding a strategic bitcoin reserve would likely require the approval of Congress and the issuance of new Treasury debt, according to an analysis published this week by Barclays. Given the likely ways such a reserve could be created, “we suspect such a plan would face stiff resistance from the Fed,” Barclays analysts said. More broadly, Fed officials have been skeptical of securities like bitcoin as they have also backed away from their own efforts to create a fully digital dollar in favor of allowing the private sector to innovate payments technologies. The Fed’s main role regarding cryptocurrencies appears to center on how those assets might affect consumer and banking sector safety. “We regulate and supervise banks and we would want the interaction between the crypto business and the banks ... not to threaten the health and well-being of the banks,” Powell said on Dec. 4. But he also noted at that time that when it comes to crypto assets, “we don’t regulate it directly.” Trump plans to appoint former PayPal executive David Sacks to the newly-created position of White House AI and Crypto Czar, and pro-crypto consultant Paul Atkins to lead the Securities and Exchange Commission. (Reporting by Michael S. Derby; Editing by Andrea Ricci and Paul Simao) Disclaimer: This report is auto generated from the Reuters news service. ThePrint holds no responsibility for its content. var ytflag = 0;var myListener = function() {document.removeEventListener('mousemove', myListener, false);lazyloadmyframes();};document.addEventListener('mousemove', myListener, false);window.addEventListener('scroll', function() {if (ytflag == 0) {lazyloadmyframes();ytflag = 1;}});function lazyloadmyframes() {var ytv = document.getElementsByClassName("klazyiframe");for (var i = 0; i < ytv.length; i++) {ytv[i].src = ytv[i].getAttribute('data-src');}} Save my name, email, and website in this browser for the next time I comment. Δ document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() );
India Test and ODI Captain Rohit Sharma was spotted hugging his wife, Ritika Sajdeh, at Mumbai Airport before departing to Australia for the upcoming second Test match in Adelaide. Earlier, the veteran cricketer missed the first Test in Perth against Australia after he and his wife Ritika, were blessed with a baby boy. Rohit decided to stay back with his family. Sharma is expected to join the Indian squad on Sunday and could also play a two-day warm-up match against Prime Minister XI from November 30 ahead of the IND vs AUS second Pink Ball Test 2024. Rohit Sharma Spotted At Mumbai Airport As He Leaves For Australia to Join Team India Squad Ahead of IND vs AUS 2nd Test 2024 at Adelaide (Watch Video) . Rohit Sharma Hugs His Wife Ritika Sajdeh Before departing for the Australia, Rohit Sharma hugs his wife Ritika and greets his admirers pic.twitter.com/aj1Gs5HKlZ — ICT Fan (@Delphy06) November 23, 2024 (SocialLY brings you all the latest breaking news, viral trends and information from social media world, including Twitter, Instagram and Youtube. The above post is embeded directly from the user's social media account and LatestLY Staff may not have modified or edited the content body. The views and facts appearing in the social media post do not reflect the opinions of LatestLY, also LatestLY does not assume any responsibility or liability for the same.)
Overall, the Central Political Bureau Meeting provided valuable insights into the economic priorities and strategies of China in 2025. By focusing on technological innovation, sustainability, international cooperation, and inclusive growth, the country aims to navigate the complexities of the global economy and position itself as a leader in the new era of economic development. With strong leadership, strategic planning, and a commitment to reform and openness, China is well poised to achieve its economic goals and create a more prosperous future for its citizens.The news of Terho's return to training has sparked excitement among Bayern fans, who have been eagerly awaiting his comeback. Many supporters have taken to social media to express their joy at seeing the talented forward back in action and are hopeful that he will be able to make a significant impact on the team's performance in the upcoming matches.As the night progressed, the energy in the market only seemed to intensify. Traders who had bet on the upward trend found themselves reaping handsome rewards, while those who had been hesitant to join the party now looked on with a mix of awe and regret.
Amidst the buzz surrounding "life-saving straw," some questions and concerns linger. Is this new technology truly as revolutionary as it seems, or is it just a temporary trend? How will the traditional corn-growing regions adapt to this potential shift in farming practices? What regulatory hurdles and ethical considerations must be addressed before widespread adoption can take place?Critics of Trump's approach argue that his tactics are divisive and counterproductive, undermining the unity and solidarity that NATO was founded upon. They warn that a fractured NATO could embolden aggressive actors on the world stage and weaken the overall security of the transatlantic region.
While it is not uncommon for public figures to face scrutiny over their clothing choices, the criticism directed at Zelensky has struck a nerve with many, who argue that a leader's worth should be measured by their actions and policies rather than their wardrobe. Others have pointed out the hypocrisy of focusing on attire when there are pressing issues at hand that demand attention and action.The gunman, a term often used to describe a prolific goalscorer, is looking to bolster his team's midfield firepower by bringing in a player who can provide creativity, vision, and goal-scoring ability from the center of the pitch. And the Brazilian star in question fits the bill perfectly.
Harbin Engineering University (HEU), known for its strong engineering programs and innovative approaches, recently made headlines with a stunning display of patriotism and creativity. Over 1600 students and faculty members from HEU came together to create a massive snow sculpture in the shape of an aircraft carrier, aptly named the "Snowy Aircraft Carrier." This incredible feat not only demonstrated the students' artistic talents but also showcased their deep love for their country.One of the key priorities in the process of power transfer is to ensure that essential services continue to be provided to the people of Syria without interruption. This includes access to healthcare, education, electricity, and other basic needs that are essential for the well-being of the population. By coordinating the transfer of power effectively, the government aims to minimize disruptions and ensure that the transition is as seamless as possible.
As the dust settles on the tumultuous ride of Chinese concept stocks, it is important for investors to take stock of the lessons learned from this episode. Heightened regulatory scrutiny, macroeconomic headwinds, and corporate governance concerns have highlighted the inherent risks in investing in Chinese concept stocks. Moving forward, investors should exercise caution, conduct thorough due diligence, and diversify their portfolios to mitigate the risks associated with investing in this volatile sector.
ST. SIMONS ISLAND, Ga. — PGA Tour rookie Patrick Fishburn played bogey-free for an 8-under 64 for his first lead after any round. Joel Dahmen was 10 shots behind and had a bigger cause for celebration Friday in the RSM Classic. Dahmen made a 5-foot par putt on his final hole for a 2-under 68 in tough conditions brought on by the wind and cold, allowing him to make the cut on the number and get two more days to secure his PGA Tour card for next year. He is No. 124 in the FedEx Cup. "I still got more to write this weekend for sure," said Dahmen, who recently had said his story is not yet over. "But without having the opportunity to play this weekend, my story would be a lot shorter this year." Fishburn took advantage of being on the easier Plantation course, with trees blocking the brunt of the wind and two additional par 5s. He also was helped by Maverick McNealy, who opened with a 62 on the tougher Seaside course, making two bogeys late in his round and having to settle for a 70. Fishburn, who already has locked up his card for next year, was at 11-under 131 and led McNealy and Lee Hodges (63) going into the weekend. Michael Thorbjornsen had a 69 and was the only player who had to face Seaside on Friday who was among the top five. What mattered on this day, however, was far down the leaderboard. The RSM Classic is the final tournament of the PGA Tour season, and only the top 125 in the FedEx Cup have full status in 2025. That's more critical than ever with the tour only taking the top 100 for full cards after next season. Players like Dahmen will need full status to get as many playing opportunities as they can. That explains why he felt so much pressure on a Friday. He didn't make a bogey after his opening hole and was battling temperatures in the low 50s that felt even colder with the wind ripping off the Atlantic waters of St. Simons Sound. He made a key birdie on the 14th, hitting a 4-iron for his second shot on the 424-yard hole. Dahmen also hit wedge to 2 feet on the 16th that put him on the cut line, and from the 18th fairway, he was safely on the green some 40 feet away. But he lagged woefully short, leaving himself a testy 5-footer with his job on the line. "It was a great putt. I was very nervous," Dahmen said. "But there's still work to do. It wasn't the game-winner, it was like the half-court shot to get us to halftime. But without that, and the way I played today, I wouldn't have anything this weekend." His playing partners weren't so fortunate. The tour put three in danger of losing their cards in the same group — Zac Blair (No. 123), Dahmen and Wesley Bryan (No. 125). The cut was at 1-under 141. Blair and Bryan came to the 18th hole needing birdie to be assured of making the cut and both narrowly missed. Now they have to wait to see if anyone passes them, which is typically the case. Thorbjornsen in a tie for fourth and Daniel Berger (66 at Plantation) in a tie for 17th both were projected to move into the top 125. Dahmen, indeed, still has work to do. Fishburn gets a weekend to see if he can end his rookie year with a win. "I've had a lot of experience playing in cold growing up in Utah, playing this time of year, kind of get used to playing when the body's not moving very well and you've got to move your hands," said Fishburn, who played college golf at BYU. "Just pretty happy with how I played." Ludvig Aberg, the defending champion and No. 5 player in the world competing for the first time in more than two months because of knee surgery, bounced back with a 64 on Plantation and was back in the mix. Aberg played with Luke Clanton, the Florida State sophomore who looks like he belongs each week. Clanton, the No. 1 player in the world amateur ranking who received a sponsor exemption, had a 65 at Plantation and was two shots off the lead. Clanton already has a runner-up and two other top 10s since June. "Playing with him, it's pretty awesome to watch," Clanton said. "We were kind of fanboying a little it. I know he's a really good dude but to be playing with him and to see what he's done over the last couple years, it's pretty inspirational." Get local news delivered to your inbox!
Joel Dahmen's 'half-court' putt keeps PGA Tour status alive
Title: Google's Willow Achieves a "Quantum Leap" in Quantum Error Correction Field by Completing Traditional Supercomputer's 10^25 Year Computation in Just 5 MinutesNvidia's Jensen Huang caught on the wrong foot? Report says the 10th richest man is using legal loopholes to allegedly avoid $8 billion in taxes
The midfielder also discussed the team’s ambitions in the Champions League, where Inter Milan aims to make a mark and compete against Europe’s elite clubs. Parolo expressed confidence in the team’s ability to perform well in the Champions League, highlighting their strong mentality and determination to succeed on the big stage.
Arch Manning pitched as LSU’s Bryce Underwood backup plan for Tigers head football coach Brian Kelly to avoid firing | Sporting NewsThe involvement of all relevant stakeholders in the transition process, including government officials, opposition leaders, and civil society representatives, will be essential in ensuring transparency and accountability throughout the transfer of power. Open communication, mutual respect, and a spirit of cooperation will be critical in navigating the complexities of the transition process.
Jeremy Olson Column: Let's strive to be thankful all year long2024 – A milestone in climate history?
Mysterious 16th century Tower of London prisoner’s graffiti solved for the first timeThe potential shift in monetary policy orientation underscores the dynamic nature of economic policymaking in response to evolving market conditions. Central banks are likely to adopt a forward-looking approach, carefully balancing the need to support economic recovery with the imperative of safeguarding financial stability. As interest rates navigate uncharted territory, policymakers will need to demonstrate flexibility and responsiveness to effectively navigate the complexities of a post-pandemic economy.
During his speech, Jack Ma emphasized the importance of embracing AI technologies to unleash new opportunities for businesses and individuals. He highlighted the significant impact that AI is already having on traditional industries, such as retail, finance, and healthcare. According to Ma, AI has the potential to drive innovation, improve efficiency, and create new business models that were previously unimaginable.Lin Zhiling, a renowned Taiwanese singer and actor, has always been a household name for his charming persona and talent. However, in recent years, it's his son Kimi who has been making waves in the entertainment industry with his striking looks and undeniable charisma. At just 15 years old, Kimi has captured the hearts of fans with his remarkable resemblance to his father, particularly in his mesmerizing eyes that seem to have been copy-pasted from Lin Zhiling himself.The Government has announced it is doubling funds to support workers and businesses affected by job losses at a giant Tata steel plant. Ministers said an extra £15 million will be made available for supply chain businesses and workers affected by changes at Tata’s Port Talbot site in south Wales. Welsh Secretary Jo Stevens said the move means a fund to support businesses across Wales heavily reliant on Tata steel will be increased to £30 million. She also announced that more businesses will be able to apply for the funds, and the value of individual grants is increasing to up to £250,000 for businesses to invest in equipment, property, technology. The Government said there has been “significant demand” on the existing funding, with almost 40 businesses employing 2,000 people having begun the application process. Grants worth millions of pounds are expected to be released in the new year. The increase in funding is in anticipation of more people leaving Tata in early 2025 through the company’s voluntary redundancy scheme. Ms Stevens said: “This Government is acting decisively to support workers and businesses in Port Talbot. “We are doubling the funding available to businesses and workers and widening access to grants to ensure we support as many people as possible. “In just four months we have announced more than £40 million in investment. We said we would back workers and businesses affected by the transition at Port Talbot and we are doing exactly that. “While this remains a very difficult time for Tata workers, their families and the community, we are determined to support workers and businesses in our Welsh steel industry, whatever happens.”
