NFT News Today TheBittimes.com

Europe experienced a 50% fall in fintech investments in the first half of 2023. In the midst of the global fintech market downturn, the crypto and blockchain sector managed to become a leader in investments in a number of major European markets.  According to the report “State of European FinTech”, released by the Amsterdam-based fintech venture fund Finch Capital, Europe, Middle East and Africa (EMEA) region experienced a 50% drop in fintech investments in the first half of 2023. The total amount of funding fell from $27.3 billion in H1 2022 to $11.2 billion in H1 2023. However, crypto businesses stand out in the overall picture, gaining a leading position in investments attracted across several large markets. In the United Kingdom, the blockchain and crypto sector grabbed a 28% share of all the deals, struck in fintech in H1 2023. This number is even higher in the Netherlands — 35% of all deals. In Germany and France, the crypto’s share constitutes 27% and 29% respectively. Re...

While the US is witnessing a drop in its inflation numbers, Europe is having a much harder time. The eurozone’s export-based economy currently stands on shaky legs. Consumers and businesses are borrowing less, and higher borrowing costs mean that there is more struggle ahead. Inflation in the US for the month of July was 3.2%, while GDP (Gross Domestic Product) grew 2.1% year-on-year in Q2 2023. On the other hand, the eurozone inflation rate for July was 5.3%, while GDP growth was 0.6%. The figures clearly show the contrast between US Fed Chair Jerome Powell’s and European Central Bank President Christine Lagarde’s fortunes. The US Fed’s rate hikes seem to be working. However, on the other side of the Atlantic, the same tactic does not seem to be paying off. Moreover, the eurozone narrowly escaped entering a recession, defined as two consecutive quarters of negative growth. The bloc recorded zero percent growth in the first quarter of this year. Source:...