RFK Jr on China and Global Economic Battles; 88,200 Millionaires Got Rich With Crypto, Says Report — Week in Review
The first full week of September is in the bag, and there’s nary a shortage of crypto and economic news from across the globe. In this edition of the Bitcoin.com News Week in Review, RFK Jr. says China doesn’t want a war, but the government wants to “bury” the United States economically. In other news, a recent report reveals that 88,200 millionaires built their wealth through crypto, and JPMorgan expects the United States Securities and Exchange Commission (SEC) to approve multiple spot bitcoin exchange-traded funds (ETFs) at once.
Robert Kennedy Jr: China Doesn’t Want War With US — They Want to ‘Bury’ Us Economically
U.S. presidential candidate Robert F. Kennedy Jr. (RFK Jr.) has explained that China does not want a war with the U.S. However, he warned that China wants to “bury” the U.S. economically. “I’m not afraid of the United States competing with China head to head and countries around the world. I think that’s good for us. I think we win that competition,” the presidential hopeful stated.
Peter Schiff Says US Can’t Afford to Decouple From China — Warns of Dollar Collapse
Economist Peter Schiff has warned that the U.S. cannot afford to decouple from China. “Our entire standard of living rests on the support of China,” he stressed, adding that “If we lose that support, it’s going to collapse.” He also predicted the collapse of the U.S. dollar as the USD loses its world’s reserve currency status.
Report Reveals 88,200 Millionaires Built Wealth Through Cryptocurrency
A study by Henley & Partners, an investment migration consultancy in London, reveals an interesting insight: of the world’s 56.1 million millionaires, a notable 88,200 have earned their fortunes in cryptocurrency.
JPMorgan Expects SEC to Approve Multiple Spot Bitcoin ETFs at Once
Global investment bank JPMorgan expects the U.S. Securities and Exchange Commission (SEC) to approve multiple spot bitcoin exchange-traded funds (ETFs) at once, instead of giving one company the advantage of being the first. The bank’s analyst explained that if the securities regulator wants to defend its denial of Grayscale’s bitcoin ETF conversion proposal, it would have to retroactively withdraw its previous approval of bitcoin futures ETFs. “Such a retroactive withdrawal would be very disruptive and embarrassing for the SEC,” he cautioned.
Do you know anyone who built their wealth through crypto? Be sure to weigh in on this week’s stories in the comments section below.
