DeFI News by Thebittimes.Com

The UK treasury is looking to sell over £5 billion ($6.7 billion) in seized Bitcoin to help reduce the country’s budget deficit, but critics are challenging the ownership of the BTC. That’s according  to a report in the Daily Telegraph , which says Chancellor of the Exchequer Rachel Reeves and the Home Office are working with law enforcement officials to sell the UK’s Bitcoin stash. Ponzi Scheme Victims Want Their BTC Back Police handle seized crypto sales in the UK, but Reeves has reportedly stepped in after the crypto market rallied to boost the value of the government’s holdings. The total amount of Bitcoin the UK government holds is unknown, but contains at least 61,000 BTC that was seized from a Chinese Ponzi scheme in 2018 that was being held in the UK.  Those seized assets alone are worth over $7.2 billion with Bitcoin’s price standing at $118,616 as of 2:28 a.m. EST.  The potential sale of the seized Bitcoin could face co...

As protests in Venezuela (often met with brutal force by the authorities) continue over the re-election of President Nicolás Maduro and his policies, opposition leader María Corina Machado has envisioned Bitcoin (BTC) as a national reserve asset in a future democratic Venezuela. Specifically, Machado was discussing what she called the “violations of financial rights” by Maduro and the former president Hugo Chávez, “a tragedy unfolding over the last two decades,” with Alex Gladstein, the Chief Strategy Officer at the Human Rights Foundation (HRF), in an interview streamed on September 5. Economy in Venezuela under Chávez and Maduro According to her, the “Venezuelan Bolivar, once stable at three to four units per U.S. dollar, has lost 14 zeros under Chávez and Maduro, turning a functional economy into a catastrophic financial crisis, (…) inflation reached an unimaginable 1.7 million percent, with prices doubling every four days” in 2018.” ...

Former Federal Reserve Chairman Ben Bernanke has been awarded a Nobel Prize in Economics. The Nobel Prize committee believes that he “significantly improved our understanding of the role of banks in the economy, particularly during financial crises.” Many people, however, blame Bernanke for getting us “to the brink of collapse and under a mountain of debt with quantitative easing.” Former Fed Chair Ben Bernanke Wins Nobel Prize in Economic Sciences The Royal Swedish Academy of Sciences announced Monday that it has decided to award the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2022 to Ben S. Bernanke, Douglas W. Diamond, and Philip H. Dybvig “for research on banks and financial crises .” The Royal Swedish Academy of Sciences is responsible for selecting Nobel laureates in economic sciences . The announcement details: This year’s laureates in the Economic Sciences, Ben Bernanke, Douglas Diamond and Philip Dy...