In crypto news this week, the long-awaited Shapella upgrade of the Ethereum network went into effect, unlocking the ether staked. In the broader financial world, economist Harry Dent has predicted a massive crash in mid-June, bank lending plunging by a record $105 billion in two weeks, and the ability of the USD to hold its value even in the short term has changed again. been put in doubt. All this and more below, in Bitcoin.com News Week in Review.
Ethereum Shapella Update Unlocks Ether Stake, Over 860K ETH Ready for pickup, price increases 6%
On Wednesday, April 12, 2023, at 6:30 PM ET, Ethereum’s Shapella update was successfully deployed, allowing validators to withdraw staked ether. The data reveals that more than 860,000 ether are ready to be unlocked and 77,000 ether are expected to be withdrawn on Thursday. The Ether price has seen a 6% rise against the US dollar in the last 24 hours.
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Economist Harry Dent expects the biggest crash of our lifetime to happen between now and mid-June.
Harry Dent, an economist and author of several best-selling books, has warned that the biggest crash of our lifetimes “will come between now and mid-June.” He emphasized: “People are going to know that this is not a big correction, it’s a major accident, one you haven’t seen…in your life.”
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US bank loans fall by a record $105bn in two weeks, trillions move to money market accounts, Elon Musk warns ‘trend will accelerate’
The banking industry in the United States is still struggling after the collapse of three major banks. According to statistics, bank lending in the US dropped by close to $105 billion in the last two weeks of March, which is the biggest drop on record. In addition, Elon Musk, a Tesla executive and owner of Twitter, recently commented on the withdrawal of trillions of dollars from banks to money market funds, insisting that the “trend will accelerate.”
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US dollar could lose most of its value in 5 years, investment manager warns
Investment manager Larry Lepard has warned that the US dollar could lose most of its value within five to 10 years. After the start of the war between Russia and Ukraine, “USA. The US did something that I perceived to be very stupid, which is to say, it seized $600 billion of Russian foreign exchange reserves and sent the message to every other country in the world that ‘Hey, if the US doesn’t like what you are doing, they can take your money’”, described the executive.
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