China News by Thebittimes.Com

Bitcoin fluctuated around $0.05 to $0.39 price level in 2010 and was mostly ignored by Wall Street and NYSE traders. They called it a passing fad that will have no value in the financial world, labelling it ‘magic internet money’. Not many dared to invest in cryptocurrency back then, as decentralized finance was a novice yet obscure concept. We cannot blame them either, as something new takes time to be accepted, especially if it’s finance-based; it takes longer to gain trust. Also Read: Bitcoin Will Replace USD As Global Reserve: Binance Founder CZ However, those who dared to invest in Bitcoin in 2010 have made millions and enjoy a life of financial freedom. The latecomers gained too, as BTC has soared over the years, making traders who did not take an entry position regret their choices. Post 2020, Wall Street and NYSE traders got into BTC, including trillion-dollar asset managers like BlackRock, VanEck, Fidelity, among others. The cryptocurrency is now a central par...

Jerome Powell’s net worth ranges somewhere between $17.7 million and $55 million, and he’s actually one of the wealthiest Federal Reserve chairs in history, right now. His financial standing comes from a blend of investment banking, private equity work, and also legal expertise before he eventually entered public service. Also Read: Ethereum Pectra Upgrade Price: ETH Surges 18% to $2,200 How Powell Built His Fortune From Private Equity To Fed Power Source: CNBC Wall Street Background Jerome Powell’s net worth was created by his education at Princeton and early life as a finance professional. After graduating back in 1975, he worked in a number of investment houses. This also includes Dillon, Read & Co. as well as Bankers Trust before joining The Carlyle Group in 1997 as a managing director. Federal Reserve Appointment Powell entered the world of public service when he was appointed to the Federal Reserve Board of Governors in 2012. Later in 2017, President Donald Trump appoi...