Gold Bug Schiff Says ‘The Months of Declining Inflation Are in the Review Mirror,’ AI Crypto Assets Surge, and More — Week in Review – The Weekly Bitcoin News

Economist and gold enthusiast Peter Schiff said the US Fed may have to fight a “total economic collapse” and be faced with more worries than the current battle with inflation. In other news, artificial intelligence (AI) crypto assets have seen a surge recently, and SEC Chairman Gary Gensler has given his two cents on why he views all crypto tokens other than bitcoin as securities. This and more, is below in the latest Bitcoin.com News Week Review.

Economist Peter Schiff Warns Fed Could Fight ‘Complete Economic Crash’

Economist Peter Schiff has predicted that the US Federal Reserve will eventually give up its inflation fight to face “something it fears even more, namely a complete economic collapse, another financial crisis, or a sovereign debt crisis.” He emphasized, “The months of falling inflation are in the review mirror,” stressing that now “we are going to see inflation accelerate.”

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SEC Chairman Explains Why He Views All Crypto Tokens Apart from Bitcoin as Securities

US Securities and Exchange Commission (SEC) chairman Gary Gensler has detailed why he considers all crypto tokens other than bitcoin to be securities. While acknowledging that crypto tokens may have different arrangements, he emphasized that “at their core, these tokens are securities.”

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Brazilian Digital Real Passes Public Blockchain Pilot Test With Flying Colors

The tokenized version of digital real, Brazil’s central bank digital currency (CBDC), has successfully passed public blockchain trials. Tests conducted by Mercado Bitcoin, a local exchange, using the Stellar network, demonstrated that real digital tokens can be used on public blockchains following all compliance rules set by Brazilian legislation.

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Artificial Intelligence Crypto Asset Continues to Soar, Calculating a Market Value of $4 Billion

Following a brief dip in mid-February 2023, the artificial intelligence (AI) crypto asset has been steadily increasing over the last 30 days. Currently, out of 74 AI-focused cryptocurrencies, the net value of all these tokens has increased to over $4 billion, which accounts for 0.37% of the entire crypto-economy value.

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What do you think of this week’s story? Let us know in the comments section below.

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