Another week has gone by in the world of cryptocurrency and finance, bringing a number of important developments and news stories. One significant event was the anniversary of the last known emails from Bitcoin creator Satoshi Nakamoto, who disappeared over a decade ago. In these emails, Nakamoto revealed that he had moved on to other things and expressed confidence that the project was in good hands.
Another big story of the week was economist Peter St Onge’s warning of a catastrophic fall in the American standard of living due to the weaponization of the US dollar, with Tesla and Twitter CEO Elon Musk weighing in on the issue of de-dollarization. Meanwhile, the banking industry continues to struggle, with First Republic Bank experiencing a massive outflow of customer withdrawals last month and investors fleeing the bank as its shares plummeted by over 30%.
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Gold bug Peter Schiff also issued a warning that the US dollar is set to lose its global reserve currency status in the current financial crisis, which he says is larger in scale and more impactful than the 2008 crisis.
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