Economy


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First Mover: Federal Reserve Does What It Wants to Do as Bitcoin Hits $11K

This week's Fed meeting ushered in a new regime for U.S. monetary policy, offering a reminder of just how frequently top officials change the rules.

Federal Reserve Chair Jerome Powell dons reading glasses prior to Wednesday's press conference. (Federal Reserve, modified by CoinDesk)

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Governments vs. Networks: The Battle for the Soul of Finance

Governments have significant discretion over economics and finance today, but decentralized network-driven alternatives threaten that control.

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Federal Reserve Now Targets Inflation Above 2%, Bitcoin Breaks $11K

Federal Reserve officials said Wednesday they would hold U.S. interest rates at close to zero and work to push inflation above 2% "for some time."

Federal Reserve Chair Jerome Powell speaking at virtual press conference on Wednesday. (Federal Reserve, modified by CoinDesk)

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First Mover: Binance's CZ Doesn't Even Dispute That DeFi Might Be Inevitable

Big crypto exchanges like Binance, Huobi and OKEx are rushing out DeFi platforms to cash in on the fast-growing industry and stanch user defections.

Binance CEO Changpeng "CZ" Zhao says the centralized exchange's BNB tokens might benefit from the decentralization trend.

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The Decade of the Living Dead: How Zombie Companies Are Robbing Tomorrow’s Economy

The percentage of companies that can’t afford to pay the interest on their debt has reached a new all-time high in the wake of central bank intervention.

(VectorPocket/Getty Images)

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First Mover: Bitcoin Investors the Sane Ones as Federal Reserve Cheers Inflation, Price Nears $11K

Cryptocurrencies' 2020 gains are the truth gauge as markets react to the Federal Reserve's inflation goal, where Zimbabwe is the model of success.

Crypto investors inverting the gold-price scale is starting to seem like the sane thing to do. (Pixabay, modified by CoinDesk)

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The Business of Geopolitical Competition

As Oracle wins a bid for TikTok US, a look at how tech competition, culture competition and currency competition shape the business of geopolitics.

(Trifonenko/Getty Images)

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Is Being the ‘Saudi Arabia of Money’ Good for America?

A reading of “How to Diagnose Your Own Dutch Disease,” a look at the problems of America’s dollar trade.

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The Raw, Savage Capitalism of Open-Source Protocols

Recapping the biggest stories of the week, including Joe Biden’s China plan, a market holding pattern and, of course, the strange competitive saga of SUSHI.

(nuvolanevicata/Getty Images)

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‘As Toppy as It Gets’: Metals, Bitcoin and Fiat’s Race to the Bottom, Feat. Tavi Costa

The Crescat Capital portfolio manager gives his take on the flashing macro warning signals and why it is an explosive moment for gold, silver and (potentially) bitcoin.

(vDraw/Getty Images)