Federal Reserve announces unlimited QE, China continues anti-crypto campaign and Bitcoin in Italy
The Federal Reserve announces no limits to support markets
Monday, the Federal Reserve announced it will launch a program aimed at helping markets function more efficiently amid the coronavirus crisis.
One of the aspects of this initiative is that the Fed continues its asset purchasing program “in the amounts needed to support smooth market functioning and effective transmission of monetary policy to broader financial conditions and the economy.”
It’s a new episode to the chapter of Fed’s “money printing machine” as it commits to keep expanding its balance sheet as necessary.
Unnoticed, this showcases the fundamentals of bitcoin, which is designed during the recession in 2008 when bailouts were the order of the day. Printer go brrrr.
Source: CNBC
Bank of China continues Anti-Crypto narrative on WeChat
China has taken the direction of ‘blockchain, not bitcoin’ some months ago. In the meantime, the Bank of China continues its anti-crypto campaign on WeChat.
“First of all, the amount of fraud transactions with bots is serious. The average turnover rate of the top three overseas crypto currency exchanges is much higher than that of foreign licensed exchanges. Second, market manipulation exists in these exchanges where forced leveraged trading eventually causes the exchanges to explode. Third, money laundering is a big issue.”
They also pointed out that Bitcoin is not a safe haven because it is too volatile. The bank urges people to protect themselves from following the crowd by investing in cryptocurrencies.
Source: Cointelegraph
Red Cross asks Bitcoin donations to fund Medical Equipment
The Italian Red Cross set up an initiative to receive Bitcoin (BTC) donations. Its first goal of €10,000 was surpassed within three days. The charity organization has now set a goal of almost €24,000 to purchase equipment for emergency operations, such as a defibrillator with a vital signs monitor.
At the time of writing, an amount of $21.501 is collected. You could donate at helperbit to reach this goal as well!
The Dutch Red Cross is also accepts BTC donations
Give us a call on +31 85 2250 510 or email us at support@crypto2cash.com. Our members of staff are available between 9.00–18.00 CET to answer any questions you may have, especially in regards to easily selling your crypto for fiat currencies.
