Currency
How Argentines Cope With Inflation That’s 64% and Rising
As countries across the world try to cope with rising prices, there is perhaps no major economy that understands how to live with inflation better than Argentina. The country has struggled with rapidly rising prices for much of the past 50 years. During a chaotic stretch in the late 1980s, inflation hit a nearly unbelievable […]
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Global Central Banks Ramp Up Inflation Fight
Central bankers around the world are lifting interest rates at an aggressive clip as rapid inflation persists and seeps into a broad array of goods and services, setting the global economy up for a lurch toward more expensive credit, lower stock and bond values and — potentially — a sharp pullback in economic activity. It’s […]
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Euro Hits Parity With U.S. Dollar for First Time in 20 Years
Take a look: €1 = $1. With a war on the eurozone’s border, an uncertain energy supply from Russia and a growing risk of recession, the pressures bearing down on the euro finally grew so strong that on Wednesday it briefly dipped below parity with the U.S. dollar — a one-to-one exchange rate. It was […]
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Crypto Crash Widens Divide Between Rich and Amateur Traders
ENGLEWOOD, Colo. — The cryptocurrency market was in ruins. But Tyler and Cameron Winklevoss were jamming. The billionaire twins, best known for their supporting role in the creation of Facebook, twirled and shimmied across the stage with their new cover band, Mars Junction, at a concert venue outside Denver last week, the latest stop on […]
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Bitcoin Plummets Below $20,000 for First Time Since Late 2020
Square, another payments company, bought $50 million of Bitcoin and changed its name to Block, in part to signify its work with blockchain technology. Tesla bought $1.5 billion of it. The venture capital firm Andreessen Horowitz raised $4.5 billion for a fourth cryptocurrency-focused fund, doubling its previous one. Excitement hit a peak in April last […]
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Tether: The Coin That Could Wreck Crypto
Even by crypto’s often-surreal standards, Tether has a peculiar history. The company was founded in 2014 by Brock Pierce, a cryptocurrency evangelist who, as a child actor, starred in the “Mighty Ducks” movies. He and his partner, Reeve Collins, later handed control of the firm to a former plastic surgeon named Giancarlo Devasini, who has […]
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How Influencers Hype Crypto, Without Disclosing Their Financial Ties
Some of the projects that Mr. Armstrong promoted were small-time, experimental crypto ventures that eventually encountered problems. In those cases, he said, he considered himself a victim, too. “They’re preying on the novice crypto influencer who just got popular and is trying to figure out what they should and shouldn’t be doing,” he said. “It’s […]
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Japan’s Economy Shrank 1 Percent as Consumers Fled Covid
TOKYO — Last December, after two years of stop-and-go growth, Japan’s economic engine seemed like it might finally be revving up. Covid cases were practically nonexistent. Consumers were back on the town, shopping, eating out, traveling. The year 2021 ended on a high note, with the country’s economy expanding on an annual basis for the […]
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Western Sanctions Aim to Isolate Putin by Undermining the Ruble
By targeting Russia’s central bank with sanctions, experts said, American and European leaders have taken aim at what could be one of President Vladimir V. Putin’s greatest weaknesses: the country’s currency. In Russian cities, anxious customers started lining up on Sunday in front of A.T.M.’s, hoping to withdraw the money they had deposited in banks, […]
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