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The Federal Reserve’s upcoming interest rate decisions: what to expect

meeting-fed-2024-november

September Fed meeting will be crucial for the markets: here’s the outlook for investors.

The Federal Reserve is preparing to discuss interest rates again at the Federal Open Market Committee (FOMC) meeting on 17 and 18 September. Currently, federal funds rates are between 5.25% and 5.50% after a series of hikes to curb inflation. However, experts and markets expect a 25 basis point cut, bringing rates between 5.00% and 5.25%. But what factors are driving this expected decision?

Economic indicators influencing Fed decisions

Decisions on interest rates are always complex: the Federal Reserve has to consider several economic indicators to assess whether it is the right time to raise, lower or maintain rates. Some of the key indicators the Fed looks at include:

  • Inflation (CPI and Core CPI): Inflation is one of the main targets of the Fed’s monetary policy. When prices rise too fast, the Fed tends to raise rates to curb demand and stabilise prices. In August, the consumer price index (CPI) increased by 0.2%, with an annual rate expected at 2.6%, down from 2.9% in July. This drop in inflation brings the economy closer to the Fed’s targets, facilitating the possibility of a rate cut.
  • Labour market: Employment also plays an important role in the Fed’s decisions. There is less pressure to cut rates when the labour market is strong, with low unemployment levels. However, recent reports show a cooling of the labour market. The US added only 142,000 new jobs in August, a number below economists’ expectations, signalling a slowdown.
  • Economic growth: Gross Domestic Product (GDP) is another indicator. If the economy is growing too fast, there could be a risk of inflation, while weak growth could suggest the need for economic stimulus, such as rate cuts. Currently, US economic growth is slowing, making Fed intervention to avoid a recession more likely.

Who is affected by changes in interest rates?

The Fed’s interest rate decisions directly impact many sectors of the economy, and consumers, investors and businesses can feel the effects. Here are some examples:

  • Mortgages and loans: one of the first tangible effects of changes in interest rates concerns mortgages. If the Fed cuts rates, those with variable-rate mortgages might see a decrease in their monthly payments, while new home buyers might get loans with more favourable terms. However, many mortgage rates already reflect market expectations of a Fed rate cut, so a 25 basis point cut may make little difference in short-term mortgages.
  • Investment and financial markets: when the Fed cuts rates, financing costs for companies decrease, making it cheaper to invest and borrow. However, the stock market may react in a mixed way: while rate cuts stimulate some companies, other sectors, such as technology, maybe more cautious. Recently, the Nasdaq fell 2.6%, due to concerns about the economy and the slowdown of the artificial intelligence boom.
  • Savings: an essential aspect for savers concerns Certificates of Deposit (CDs), which offer favourable interest rates. CD yields could also fall if the Fed cuts rates, so the time could be right to lock in advantageous rates before they fall further.

The current economic environment and the upcoming rate cut

The overall picture shows declining inflation and a cooling but still strong labour market. With inflation approaching the 2% target, the Federal Reserve can cut rates without risking an uncontrolled inflation increase. At the same time, slower economic growth and concerns about a possible recession further push for an easing of monetary policy.

The long-term effects of interest rate cuts

Although interest rate cuts immediately affect mortgages, loans and financial markets, the long-term impacts may be more complex. When interest rates are lower, credit becomes more accessible, stimulating consumption and investment. This can boost economic growth in the short term, but if rates stay low for too long, there are some risks to consider:

  • Future inflation risk: if the Fed cuts rates too much or keeps them too low for a prolonged period, the economy could overheat, leading to a new inflation cycle. Even if inflation is under control today, a prolonged stimulus period could fuel renewed price growth, especially if the economy recovers quickly.
  • Debt growth: Low interest rates make debt cheaper for consumers and businesses, possibly encouraging higher debt levels. However, excessive debt may become unsustainable in future crises or a sudden rise in interest rates.
  • Impact on savers: In the long run, low rates penalise savers, who see diminishing returns on their low-risk investments, such as savings accounts and certificates of deposit. This can be a problem for pensioners or those living on savings income. Conversely, this becomes a more favourable scenario for risk-averse investors, prompting them to seek riskier investments for higher returns.
  • Higher bills for public debt: another long-term consequence of low rates is the potential increase in public debt. If the government goes into debt more easily to finance projects, it may accumulate debt that will be difficult to manage, especially if rates rise again.

It was a decisive moment for the economy and politics

The economic issue is one of the most vibrant among American voters, and the debate over the future of interest rates plays a crucial role in the political debate in the presidential election. As the November elections approach, the Federal Reserve’s choices will inevitably become one of the central points of confrontation between the candidates.

Tonight, Tuesday, 10 September, there will be a decisive debate between Donald Trump and Vice-President Kamala Harris, hosted by ABC News. This meeting, which represents the first ‘vis à vis’ between the two candidates, will be decisive in defining their positions on economic issues, one of the hottest topics of the election campaign. Voters will be particularly attentive to how the candidates intend to address the issue of economic growth, jobs and inflation, especially in a context where many Americans face higher debt costs and an uncertain job market.

Donald Trump, on the strength of a platform that has focused on tax cuts and deregulation in the past, might push for an aggressive rate cut to stimulate the economy further. On the other hand, Kamala Harris might emphasise the importance of prudent monetary policy management to avoid the economy’s overheating and uncontrolled debt growth.

Tonight’s debate will be crucial in understanding which economic view may prevail. The Fed’s decisions on interest rates are a key element in the future of US economic policy.

How should investors move in the context of a rate cut?

When the Federal Reserve cuts interest rates, investors must adopt different strategies to adapt to the new economic conditions. In general, lower interest rates mean that the cost of money falls, making it cheaper for companies to borrow and invest but reducing returns on safe investments such as savings accounts and certificates of deposit. Here are some strategies investors can consider:

  • Diversifying the portfolio: With falling interest rates, safe investments such as bonds and savings accounts tend to offer lower returns. This may push investors to seek higher returns in riskier assets such as stocks, cryptocurrencies, or mutual funds. In particular, sectors such as technology or renewable energy could benefit from a low-rate environment, as companies can more easily invest in growth projects.
  • Consider long-term investments: even if rates are low, there may be opportunities to lock in profitable returns over the long term. This can protect capital from yield erosion over time.
  • Evaluate stocks of companies that benefit from low rates: sectors such as real estate and utilities, which typically require large amounts of financing, may benefit from lower rates as the cost of debt decreases. Investors might consider buying shares in these sectors, which could have sustained growth in the new economic environment.
  • Monitor inflation: Although low rates stimulate the economy, investors should be alert to possible signs of future inflation. More conservative investments, such as bonds and fixed-rate government securities, could lose value if inflation picks up. Therefore, investors should keep an eye on future Fed policies to see if there will be a return to higher rates in the medium term.

In summary, a rate-cutting environment offers opportunities but also risks. Investors must be agile and ready to review their strategies, balancing risks and returns in a constantly changing economic landscape. To explore new opportunities, sign up for free on Young Platform.

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What, indeed, are the risks of artificial intelligence?

What are the risks of artificial intelligence?

What are the risks of artificial intelligence? From privacy to security, from ethical dilemmas to work dislocation

Artificial intelligence and machine learning are incredible technologies with enormous potential and an ocean of use cases we have only explored. Like any invention that has the potential to disrupt the world, the introduction of artificial intelligence into our daily lives also carries risks. This aspect of AI started to emerge in 2022 after the launch of ChatGPT, one of the first AI models to go mainstream.

From job displacement—a phenomenon that describes the future disappearance of certain jobs—to concerns about privacy and security and ethical and social dilemmas that, to date, have only been partially addressed, let us see what the main risks of artificial intelligence are.

The risks of artificial intelligence: machine learning vs deep learning

Before addressing the risks of artificial intelligence in detail, it may be useful to define the concept by specifying the main differences between the various models. First, we can start by defining the goal of artificial intelligence, which is to develop ‘machines’ with machine learning and adaptive capabilities inspired by human learning models.

However, the term artificial intelligence (AI) is often associated with concepts such as deep learning and machine learning (ML), which are considered synonymous even though they actually differ. Machine learning is a sub-area of AI that focuses on developing algorithms that allow computers to learn from data and improve their performance over time without being explicitly programmed for each specific task. ML uses statistics to enable machines to ‘learn’ from data, identifying patterns and making decisions based on past examples. 

Deep Learning, on the other hand, is a more specific subset of machine learning that uses neural networks to learn from data. ChatGPT and Gemini (Google’s AI), are good examples of working deep learning models, albeit still embryonic when considering the potential of this technology.

Finally, before addressing the risks associated with artificial intelligence, we can define the main theories related to it, which are very useful in distinguishing the two most widespread types of AI:

  • Artificial solid intelligence: theory according to which machines will be able to develop self-awareness and thus replicate human intelligence;
  • Weak Artificial Intelligence: theory according to which it is possible to develop machines capable of solving specific problems without being aware of the activities performed.

Artificial intelligence has also found new applications in the cryptocurrency sector in recent years, with numerous innovative projects created to combine the best of these two cutting-edge technologies. On our exchange, you will find a selection of AI cryptos and a Custom Money Box that allows you to buy the four most promising ones in this segment regularly.

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The risks of artificial intelligence

Now that we have more precisely defined the concepts that make up AI, we can dive headlong into the central topic of this article, answering the question: What are the risks associated with artificial intelligence? It will be necessary to summarise, although each paragraph in this article should be explored in greater depth in a dedicated article. 

  1. Privacy issues

AI technologies and most social media collect and analyse large amounts of personal data, making privacy an ever-present issue. This issue became even more relevant after the arrest of Telegram CEO Pavel Durov. 

Artificial intelligence is also involved in these concerns. However, privacy management varies greatly depending on the legal jurisdiction. For example, European regulations are much stricter than those in the United States and place greater emphasis on the protection of personal data and the rights of individuals.

  1. Ethical and Moral Dilemmas

The discourse on the ethics of AI systems, especially in decision-making contexts that can have significant consequences, is very complex and convoluted. The main difficulty here lies in translating ethical principles, often subjective and culturally variable, into rules and algorithms that can guide machine behaviour. 

Researchers and developers must give the highest priority to the ethical implications of this technology, not only to prevent potential harm but also to ensure that AI operates in a manner consistent with society’s fundamental values. This requires a constant effort to balance technological innovation and social responsibility.

  1. Safety Risks

In recent years, after artificial intelligence has become mainstream, the security risks associated with its use have risen sharply. Hackers and other malicious actors can exploit AI models to conduct increasingly sophisticated cyber attacks, circumvent existing security measures and exploit system vulnerabilities, putting critical infrastructure and sensitive data at risk.

To mitigate these risks, governments and organisations must develop rigorous best practices for the secure implementation of AI. These concerns not only the adoption of advanced security measures but also the promotion of international cooperation to establish global standards and regulations, which is necessary for many experts in the field. In short, only through a coordinated and proactive approach will it be possible to effectively protect society from security threats arising from the misuse of AI.

  1. Labour displacement

Another risk attributed to artificial intelligence is job displacement, which has the potential to cause significant job losses in several sectors, particularly affecting less skilled workers. Although, according to various research, artificial intelligence and other emerging technologies will be able to create more jobs than they eliminate, the transition will only be difficult. As AI technologies continue to develop and become more efficient, it becomes crucial for the workforce to adapt quickly to these changes.

To remain competitive in a changing landscape, workers need to acquire new skills, with a particular focus on digital and technological skills. This is particularly important for lower-skilled workers, who risk being more vulnerable to dislocation caused by automation. Therefore, retraining and lifelong learning become essential to ensure that the workforce can integrate with, rather than be replaced by, new technologies. Public policies and educational initiatives must support this transition process, providing the necessary tools for workers to adapt and thrive in the AI era.

  1. Disinformation and fake news

Finally, the last risk of artificial intelligence we address in this article concerns fake content generated by this technology, such as deepfakes. Creating this content will make it increasingly easy to deceive even experienced observers, fuelling misinformation and undermining trust in information sources. Combating AI-generated disinformation is essential to preserve the integrity of information in the digital age and to protect the democratic fabric of societies.

A Stanford University study highlighted the urgent dangers of AI in this context, stating that “AI systems are being used in the service of disinformation on the Internet, with the potential to become a threat to democracy and a tool for fascism.” Tools such as deep fake videos and online bots, which manipulate public discourse by simulating consensus and spreading fake news, can harm society in various ways.

These are just some of the risks associated with artificial intelligence and its growing impact on our daily lives, but there are many more to consider. For example, there is a concentration of power in the hands of a few large companies and an increasing dependence on tools based on this technology. Without bordering on science fiction, these problems require attention and concrete solutions. However, it is worth pointing out that AI’s opportunities are sufficiently promising to justify continued investment and development, making the balance between costs and benefits positive overall.

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Top 10 Richest OnlyFans Creators in 2024

Top 10 Richest OnlyFans Creators

Quali sono gli onflyfanser più ricchi al mondo? La classifica dei 10 che guadagnano di più

OnlyFans has grown into a highly lucrative platform where content creators from various industries can generate substantial incomes by offering exclusive content to paying subscribers. While it has a strong presence in the adult entertainment space, many creators from diverse fields, including music, fitness, and fashion, have found immense success. In this article, we explore the top 10 richest OnlyFans creators in 2024, whose earnings rival those of celebrities and business leaders alike.

Note: The figures provided here are based on estimates and may not reflect exact earnings.

1. Bella Thorne – $11 Million per Month

Former Disney star Bella Thorne became the talk of OnlyFans when she made $1 million in the first 24 hours of joining the platform. With exclusive content ranging from behind-the-scenes looks to more provocative material, Thorne remains the highest-earning creator on the platform.

2. Cardi B – $9.5 Million per Month

The globally renowned rapper Cardi B has leveraged her massive fan base to create a successful presence on OnlyFans. While her content is limited, focusing on personal updates and behind-the-scenes material, her star power alone has led to impressive monthly earnings.

3. Iggy Azalea – $9.2 Million per Month

Australian rapper Iggy Azalea has built a significant following on OnlyFans, sharing music-related content, photoshoots, and exclusive insights into her life. Her popularity on the platform has led to monthly earnings just over $9 million.

4. Coco Austin – $9 Million per Month

Television personality and model Coco Austin earns millions on OnlyFans by offering sultry photoshoots and personalized content. Her substantial social media following has easily translated into a highly successful OnlyFans account.

5. Mia Khalifa – $6.5 Million per Month

Former adult film star Mia Khalifa has successfully reinvented herself as a popular influencer. On OnlyFans, she shares a mix of personal content and exclusive behind-the-scenes material, earning her millions monthly.

6. Erica Mena – $4.5 Million per Month

Reality TV star Erica Mena of “Love & Hip Hop” fame has capitalized on her public profile to become a high-earning OnlyFans creator. Her success has made her one of the top earners on the platform.

7. Bhad Bhabie – $4.33 Million per Month

Rapper and social media star Bhad Bhabie, also known as Danielle Bregoli, shot to fame after her appearance on Dr. Phil. Since joining OnlyFans, she has amassed a large following, earning over $4 million per month.

8. Tana Mongeau – $3 Million per Month

YouTuber and influencer Tana Mongeau is known for her controversial and engaging content, which has helped her become one of the top creators on OnlyFans. Her fanbase eagerly consumes her exclusive material, leading to significant monthly earnings.

9. Gemma McCourt – $2.3 Million per Month

Digital entrepreneur Gemma McCourt has turned her creativity into a highly successful OnlyFans account. With exclusive content priced at $30 per month, McCourt consistently earns in the millions.

10. Pia Mia – $2 Million per Month

Singer and model Pia Mia Perez rounds out the top 10. With a strong presence on social media and a music career, Pia Mia has successfully monetized her platform through OnlyFans, where she offers exclusive content to her dedicated fanbase.

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The 5 Most Popular Crypto Trading Strategies

Bitcoin price forecast

Looking for the best crypto trading strategy to maximise your portfolio’s performance? Much like the recipe for Big Mac sauce, no one truly knows it. However, here are five of the top-performing strategies from the past!

There are countless unanswered questions in the world. What is the real name of street artist Banksy? What’s the recipe for Big Mac’s secret sauce? How much money did Pablo Escobar hide in the hills surrounding Medellin? How were the Egyptian pyramids built? But none compares to the one that haunts crypto trading strategy enthusiasts daily: What’s the perfect strategy? What does the ultimate, unbeatable portfolio look like? Which cryptocurrencies does it hold, and in what proportions?

Since it’s impossible to pinpoint a definitive answer, we’ve reviewed several popular crypto trading strategies to find the ones that have delivered the best returns with a manageable risk over time. Discover the top five strategies in this article! P.S. All these strategies outperformed the S&P 500, with at least double its percentage increase.

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1. Market Cap Weighted – Allocating by Market Capitalization

Why not start with its decentralised counterpart when looking for crypto trading strategies that have beaten the S&P 500? A “cap-weighted” portfolio is created by distributing your investment among the top 20 cryptocurrencies by market capitalisation, excluding stablecoins. This means the percentage invested in each currency corresponds to its market value. As of the time of writing, this strategy would see 56% invested in Bitcoin, 14% in Ethereum, 3.7% in BNB, 3% in Solana (SOL), and so on.

From January 2023 to August 2024, this crypto trading strategy saw a 144% increase, and during Bitcoin’s peak at $74,000 in March, it hit nearly 200%.

2. The Classic Combo: 80% Bitcoin, 20% Ethereum

This is the most popular crypto trading strategy, recommended by many long-time investors in the space. However, you should keep this one a secret from Bitcoin maximalists, as they believe BTC is the only legitimate cryptocurrency. Regardless, the 80% Bitcoin and 20% Ethereum duo have proven highly effective over the last 20 months, with a notable gain of over 190%.

3. Bitcoin Maximalist: All-In on the King

Bitcoin remains the most well-known cryptocurrency; for many, it’s the only one that truly matters. Over the past year, Bitcoin’s strong returns and relative stability compared to other cryptocurrencies have reinforced this belief. From January 2023 to August 2024, Bitcoin saw a price increase of 226%, and during the March peak, it surged to 350%.

4. Buy the Dip – “Catching a Falling Knife”

This strategy is the most complex in this article, but it’s worth discussing as it’s widely used by crypto trading strategy enthusiasts—sometimes without fully understanding its nuances. It requires an active approach to trading, unlike simpler “buy and hold” strategies. Success depends on timing and buying during market dips.

Suppose you started with a budget of $5,000 in BTC and $5,000 in stablecoins, intending to buy more BTC whenever its price dropped by more than 10%. If executed perfectly, this strategy could have turned that $10,000 into $48,000 by the end of the year.

However, this is easier said than done. Buying during market downturns is tough, both mentally and emotionally. It requires nerves of steel, patience, and a solid understanding of market trends. If you’re not experienced, a more straightforward recurring purchase strategy might be a better fit.

5. The Creative Combo: 60% Bitcoin, 20% Ethereum, 20% Solana

Finally, look at the most successful crypto trading strategy from the last few months. This portfolio comprises 60% Bitcoin, 20% Ethereum, and 20% Solana (SOL). While 20% may seem like a modest allocation, this portion has propelled this strategy to incredible heights. Since January 2023, this portfolio has seen an impressive 620% gain.

While we can’t definitively answer which strategy is the best for crypto trading, these five strategies have performed exceptionally well with a reasonable level of risk. More exotic portfolios may have delivered even higher returns, but these are often unsustainable in the long run. You can find most of the mentioned cryptocurrencies on platforms like Coinbase or Binance, so dive in and start your journey into crypto investing!

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Club Benefit: Free Internet Anywhere in the World, Thanks to Saily!

Free eSIM Thanks to Saily and Young Platform Clubs

The crypto world knows no borders. Thanks to Saily and the Young Platform Clubs, you can break down barriers and browse for free wherever you are.


There are countless crypto hubs worldwide: the United States, Hong Kong, Singapore, Lisbon, and Lugano. On its long journey towards adoption, the money of the future shares a characteristic with the generation that uses it most: it is global. For this reason, those working in this sector and those driven by passion might travel far and wide to attend events, summits, conferences, or hackathons.

However, there’s a slight problem: crypto and blockchain require an internet connection to function and be used. But don’t worry, if you’re part of the Young Platform Clubs, we’re here to help with a solution offered in partnership with Saily.

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What is Saily, and how does it work?

Saily is an international eSIM service created by Nord Security, which developed NordVPN. Although these two services—VPNs and eSIMs—may seem very different, they share the same goal: to allow users to browse the internet reliably, even when far from home. Saily offers hundreds of flexible data plans for travelling in over 150 countries, a quick setup procedure, and 24/7 chat support.

The data plans offered by Saily vary, and the features that differ depending on the chosen solution are twofold:

  • The duration: the number of days the eSIM remains active after activation.
  • The amount of GB the plan provides: 1, 3, 5, 10, and 20 GB.

When you choose an eSIM on Saily, you can’t change the duration, as it is automatically associated with the amount of GB. Solutions that include 1 GB of mobile data often have a duration of 7 days, while if you opt for a 3 GB plan or higher, you can use the eSIM for 30 days.

Thanks to some key features, Saily is establishing itself as a leading brand in this young sector. Firstly, its affordability. The price of Saily’s eSIMs is approximately 15% lower than that of its main competitors. 

Additionally, thanks to the Top-Up function, Saily doesn’t require downloading a new eSIM whenever you change countries or run out of GB. Instead, you can add a new data plan from the same or another country to the SIM you already have. This feature is incredibly convenient for those embarking on a road trip. 

How does the benefit work?

This time, we haven’t just offered you discounts; if you’re part of our Clubs, you can activate an eSIM utterly free of charge! Here’s a detailed look at the type of eSIM you can activate at no additional cost, depending on your Club membership.

  • Bronze: 1GB plan (7 days) free;
  • Silver: 1GB plan (7 days) free;
  • Gold: 3GB plan (30 days) free;
  • Platinum: 5GB plan (30 days) free.

How to apply the code?

First of all, join a Club or upgrade to the most advantageous one using the Young Platform app.

  • Go to the Saily website.
  • Select the country where you want to browse and the data plan that best suits your needs. NB: The promo code will only apply correctly if you select the exact plan offered as a gift. So, if you need more GB, make two separate purchases to add more GB on top of those provided.
  • Click on “Proceed to Payment.”
  • Click on “Have a promo code?”
  • Enter the code received via email.
  • Check that the code has been accepted. By entering the promo code, no payment will be requested, and the purchase will be automatically completed.

The promo codes have no expiration date. However, once the code is redeemed during the eSIM purchase process, you have 30 days to activate it.

Additionally, the purchase will be visible on your account through the Saily app. Simply log in with the same account you used during the purchase.

For any questions or concerns, you can refer to their official website: support.saily.com

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Best Cryptocurrency to Buy Today: Top Picks for September 2024

Best Cryptocurrency to Buy Today: September 2024 Rankings

Discover the best cryptocurrencies to buy in September 2024. Stay updated with the latest trends and market shifts in the ever-evolving world of crypto.

Gli equilibri nel mondo delle criptovalute cambiano in maniera rapida e spesso imprevedibile. Per questo motivo è importante, soprattutto se stai scegliendo quale criptovaluta comprare oggi, conoscere gli ultimi sviluppi del mercato e le novità introdotte dai progetti “sulla cresta dell’onda”. Ogni mese, nuove tecnologie e cambiamenti regolamentari possono influenzare il valore, le gerarchie e la classifica delle crypto per capitalizzazione di mercato. 

Grazie a questa analisi mensile, puoi reperire informazioni su quale criptovaluta comprare attraverso una una classifica delle cinque più promettenti, da noi stilata basandoci sui dati più recenti e sugli eventi significativi che stanno plasmando il settore. 

As the cryptocurrency market evolves rapidly, staying informed about the latest developments is crucial, especially considering which cryptocurrency is the best to buy today. September 2024 brings new opportunities and challenges, making it essential to review the most promising cryptos to add to your portfolio. In this article, we’ll provide a monthly analysis that ranks the top five cryptocurrencies to buy based on recent data and significant events shaping the market.

1. Aave (AAVE)

Aave (AAVE) stands out as a leading contender when considering which cryptocurrency to buy today. As the foremost decentralised application for borrowing and lending crypto, Aave has maintained its dominance in the decentralised finance (DeFi) sector despite the rise of numerous competitors.

In late August, Aave set a new record for weekly active borrowers, underscoring its popularity among users. Financially, the project also impressed, with Q2 2024 earnings reaching approximately $20 million, nearly double that of the previous quarter. The Total Value Locked (TVL) on Aave’s platform, a critical metric in DeFi, recently hit $12 billion.

AAVE’s price has responded positively to increased activity on its platform, experiencing nine consecutive daily gains and a peak surge of +38%. Currently, AAVE is hovering around the $130 resistance level. If it breaks through this, the following targets could be $150 and eventually $240, fueled by the ongoing growth of its user base.

  • 30-day price increase: +40% (from $100 on 07/26/2024 to $140 today)
  • 1-year price increase: +87% (from $100 on 08/26/2023 to $187 today)

2. Sui (SUI)

Sui (SUI) is another intriguing option for those wondering which cryptocurrency to buy today. Created by former Meta developers, SUI has emerged as one of the top performers in the market over the past month, driven in part by the introduction of the Grayscale Sui Trust. This new financial product has bolstered SUI’s standing, potentially setting it up for continued success in September.

SUI experienced a massive +130% surge following the market crash on August 5th. Even more recently, SUI has shown significant growth, with a +100% increase and an additional +16% gain in the past week.

  • 30-day price increase: +26% (from $100 on 07/26/2024 to $126 today)
  • 1-year price increase: +53% (from $100 on 08/26/2023 to $153 today)

Buy SUI

3. Fantom (FTM)

Fantom (FTM) has gained attention recently, thanks to the announcement that Andre Cronje, a leading figure in DeFi, will return as Sonic Labs’ Chief Technology Officer (CTO). Cronje’s involvement in developing Sonic, particularly its native bridge technology, “Sonic Gateway,” could significantly enhance Fantom’s ecosystem.

Sonic’s L1 network, which uses asynchronous Byzantine Fault Tolerance (aBFT) consensus, promises near-instant transaction finality with a single confirmation. This development is likely to boost investor confidence in Fantom’s future growth.

  • 30-day price increase: +8% (from $100 on 07/26/2024 to $108 today)
  • 1-year price increase: +95% (from $100 on 08/26/2023 to $195 today)

4. Bittensor (TAO)

Bittensor (TAO) is closing out an exciting August, having benefited from Grayscale’s involvement. TAO is featured in two of Grayscale’s financial products, including a Trust dedicated entirely to this promising cryptocurrency. TAO has seen a dramatic rise from $200 to nearly $800 earlier in the year, although it later corrected back to its starting point.

Following the August 5th crash, TAO has regained momentum, doubling its value in three weeks. If it can surpass the $360 resistance level, TAO could see significant gains in September.

  1. 30-day price increase: +2% (from $100 on 07/26/2024 to $102 today)
  2. 1-year price increase: +296% (from $100 on 08/26/2023 to $296 today)

5. Ethereum (ETH)

Finally, Ethereum (ETH) rounds out our list of the best cryptocurrencies to buy in September 2024. Despite facing challenges and failing to break the $2,800 resistance level, Ethereum remains a strong contender due to its robust fundamentals.

Ethereum’s blockchain continues to operate smoothly, demonstrating unmatched security and efficiency. The network recently set a new record with over 34 million ETH staked, and the team has rolled out significant upgrades such as The Merge, Shanghai, Dencun, and Proto-Danksharding, ensuring Ethereum remains at the forefront of blockchain innovation.

  • 30-day price decrease: -14% (from $100 on 07/26/2024 to $86 today)
  • 1-year price increase: +44% (from $100 on 08/26/2023 to $144 today)

Conclusion

Choosing the best cryptocurrency to buy today requires a keen understanding of market dynamics and emerging trends. Aave, Sui, Fantom, Bittensor, and Ethereum each offer unique opportunities this September. However, remember that the crypto market is highly volatile, and thorough research is essential before making investment decisions.

Disclaimer

This information is provided solely for informational and educational purposes and does not constitute a recommendation to buy or sell any specific digital asset or investment strategy. Young Platform S.p.a. makes no warranties regarding the accuracy, suitability, or validity of the information provided or any particular asset. Prices are illustrative and may vary. The data may reflect assets traded on the Young Platform S.p.a. platform and other selected cryptocurrency exchange platforms. Please note that cryptocurrencies are highly volatile, and purchasing them involves a risk of loss.

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What is the Poorest Country in the World? Ranking of the Poorest Countries in 2024

The Poorest Countries in the World: Updated Ranking

Discover the ranking of the poorest countries in the world for 2024 based on GDP per capita. Explore the challenges and conditions these nations face.

One of the most common metrics used to examine the poorest countries in the world is GDP (Gross Domestic Product) per capita. This figure represents the average economic output per person in a given country and is a crucial indicator of financial health. 

A low GDP per capita often correlates with challenging living conditions characterised by fragile economies, high unemployment rates, and inadequate infrastructure. Moreover, these nations frequently grapple with internal conflicts and political instability, further hindering their development.

However, GDP per capita alone does not fully capture the economic well-being of a country’s citizens, as it overlooks disparities in the cost of living. GDP,  combined with issues such as low education levels, endemic diseases, and limited access to healthcare, these factors create environments where economic development is nearly impossible, leading to harsh living conditions. Below, we delve into the poorest countries in the world as of 2024 and the primary issues they face.

You might be interested in The Richest Countries in the World

The poorest countries in the world: 2024 ranking

Per stimare quali sono i paesi più poveri del mondo di solito ci si basa sui dati forniti dal Fondo Monetario Internazionale (FMI).

Nella maggior parte degli stati che trovi in questo articolo è molto difficile accedere ai servizi finanziari, anche a quelli standard come l’apertura di un conto bancario. Per questo motivo sono sempre di più i cittadini che si affidano a Bitcoin o ad altre criptovalute. Questa tecnologia coincide con un modo nuovo, e per molti l’unico, di gestire il proprio denaro e salutare per sempre lo status di unbanked. Se ti interessa questo tema e vuoi saperne di più puoi scaricare la nostra app.

The following ranking of the poorest countries is based on data from the International Monetary Fund (IMF). In many of these countries, access to essential financial services is minimal, with many citizens turning to cryptocurrencies like Bitcoin as a new way to manage their money, often as their only viable option.

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1. Sudan del Sud

GDP per Capita: ~$450

South Sudan, the world’s poorest country, gained independence in 2011 but has been plagued by civil conflicts that have hindered economic and social development. Despite its vast oil reserves, South Sudan suffers from the “resource curse,” where wealth in natural resources leads to corruption, division, and conflict instead of prosperity.

2. Burundi

GDP per Capita: ~$900

Unlike South Sudan, Burundi lacks significant natural resources. The civil war that ended in 2005 left the country in dire straits, with most of its population dependent on subsistence agriculture. Less than 5% of the population has access to electricity, and inflation (an average of 14%, but it touched 30% in 2023) remains a significant issue, contributing to the erosion of living standards.

3. Central African Republic (CAR)

GDP per Capita: ~$500

The CAR is rich in natural resources like gold, oil, uranium, and diamonds, yet its people remain among the poorest globally. Since its first democratic election in 2016, the country has seen some growth, driven by timber, agriculture, and the diamond trade. However, much of the nation remains under the control of armed groups, hindering development. Growth in recent years has shown a moderate recovery, driven by the lumber industry, recovery in the agricultural sector, and partial recovery in the diamond trade.

4. Democratic Republic of Congo (DRC) 

GDP per Capita: ~$1,500

Since gaining independence from Belgium in 1960, the DRC has experienced political instability and violence. Despite its vast mineral wealth and potential to become one of Africa’s wealthiest countries, about 65% of the population lives on less than $2.15 a day. The country has a population of 100 million, with the average per capita income hovering around $1,500 annually. However, according to the World Bank, the DRC has the resources and potential to become one of Africa’s richest countries and a growth engine for the entire continent. It is currently the world’s largest producer of cobalt and the leading copper exporter in Africa, two essential elements for the electric vehicle market.

5. Mozambique

GDP per Capita: ~$1,200

While rich in resources and strategically located, Mozambique continues to face poverty due to political instability and adverse climatic conditions. Despite these challenges, the IMF projects strong economic growth driven by the energy sector. To make matters worse, the gas-rich northern part of the country has been hit by attacks by Islamic insurgent groups since 2017. Despite this, according to the IMF, the economy remains booming: it is projected to grow by 5% in 2024 and 2025, with prospects for double-digit growth in the second half of the 2020s.

6. Niger

GDP per Capita: ~$500

Niger is heavily threatened by desertification, with 80% of its territory covered by the Sahara Desert. The rapid population growth outpaces agricultural production, worsening food insecurity. Additionally, ongoing conflicts with Boko Haram exacerbate the nation’s instability.

In 2021, with the election of the new president Mohamed Bazoum, a former teacher and interior minister, Niger experienced its first democratic transition of power and seemed poised for significant change. However, in the summer of 2023, Bazoum was captured by some members of his presidential guard, and since then, a military junta has ruled the country.

7. Malawi

GDP per Capita: ~$600

Malawi is seventh on the list of the poorest countries in the world. Its economy, heavily dependent on agriculture, is vulnerable to climate change and food insecurity. The government faces a severe economic crisis marked by fuel shortages, rising food prices, and currency devaluation.

8. Liberia

GDP per Capita: ~$600

Liberia, Africa’s oldest republic, has been among the world’s poorest nations for years. However, Joseph Boakai’s election in 2023 offers some hope for economic recovery, with growth projected to reach 5.3% in 2024.

9. Madagascar

GDP per Capita: ~$450

Since gaining independence from France in 1960, Madagascar has experienced political instability, contested elections, and slow economic growth. Despite high poverty rates and an inflation rate of nearly 8%, the current government under Andry Rajoelina, reelected in 2023, continues to struggle with widespread poverty.

How limited mobility hinders economic growth in Africa’s poorest countries

Limited mobility has a profound impact on economic growth, particularly for African countries that already struggle with poverty. According to research by Prof. Mehari Taddele Maru, African nations top the list of Schengen visa rejections, with around 30% of African applicants being denied compared to just 10% worldwide. 

This stark disparity highlights how restricted access to international travel further marginalizes the poorest countries, making it harder for individuals to seek better opportunities, engage in global trade, or even gain exposure to new skills and ideas. 

The high rejection rates are particularly pronounced in the poorest African countries, creating a vicious cycle where limited mobility exacerbates economic stagnation. With the ability to move freely, these nations can overcome significant barriers to growth, as their citizens can participate in the global economy, seek education abroad, or build international business connections.

You might be interested in The Most Powerful Passport: 2024 Global Rankings.

Conclusion

The ranking of the poorest countries in the world highlights the severe economic challenges many nations face. However, despite these difficulties, there is potential for future growth in these countries, with natural and human resources that, if properly harnessed, could significantly improve living conditions. Stay tuned for more insights if you’re interested in learning more about these countries’ global economic challenges and development efforts.

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Avon Files for Bankruptcy Amid Talcum Powder Lawsuit Crisis

Avon's bankruptcy and Johnson & Johnson's legal challenges

Learn about Avon’s bankruptcy due to talcum powder lawsuits and the parallels with Johnson & Johnson’s legal challenges. How will these companies navigate the crisis?

The beauty industry, once synonymous with innovation and prosperity, is currently grappling with one of its most significant challenges. A striking example of this turmoil is Avon’s recent bankruptcy filing, a dramatic turn of events signalling deep-rooted issues within the sector. In mid-August 2024, Avon officially filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the District of Delaware. This marked the culmination of years of financial and legal struggles primarily linked to asbestos-contaminated talcum powder lawsuits.

The Avon Bankruptcy

Avon’s decision to file for bankruptcy directly responds to the overwhelming legal pressure from 386 ongoing lawsuits. These cases allege that the company’s talcum powder products were contaminated with asbestos, a known carcinogen, leading to serious health concerns, including cancer. Despite Avon’s consistent denial of asbestos presence in their products, the company has faced significant financial setbacks due to adverse legal judgments.

One of the most severe blows came in 2020 when Avon was ordered to pay $46 million in damages. More recently, in July 2024, another hefty compensation of $24.5 million was imposed, further depleting the company’s already strained financial reserves. These mounting legal costs have left Avon with no viable option but to seek bankruptcy protection to manage its debts and restructure its business.

Parallels with Johnson & Johnson

Avon’s situation resembles the legal challenges faced by another industry giant, Johnson & Johnson (J&J). J&J has also been embroiled in lawsuits over asbestos-contaminated talcum powder, leading to thousands of claims and substantial financial penalties. However, J&J’s response to the crisis has notably differed due to its significant financial resources.

Like Avon, J&J strategically filed for bankruptcy for one of its subsidiaries, a manoeuvre designed to consolidate and manage the numerous lawsuits while working on debt restructuring. This “strategic bankruptcy” allows J&J to freeze ongoing litigation and focus on negotiating settlements, thereby limiting further financial damage.

However, despite the similarities, the two cases differ significantly in their potential outcomes. J&J’s global presence and robust financial standing have enabled it to withstand the legal onslaught. At the same time, Avon was weakened by years of decline and a tarnished brand image. J&J’s diversified portfolio and vast resources have provided a buffer against the crisis, a luxury Avon lacks.

The Fall of a Giant

For Avon, bankruptcy is the last resort after a series of challenges that have eroded its prestige and financial stability. The company has already paid out $225 million in settlements, yet the legal battles continue, straining its liquidity and threatening its survival after more than a century in the cosmetics industry.

Avon’s bankruptcy raises critical questions about its future and the beauty industry. The sector has become increasingly competitive, with new brands capturing the attention of more demanding and informed consumers than ever before. In this evolving market, sustainability, transparency, and innovation are crucial for survival, leaving little room for companies that cannot adapt swiftly to changing dynamics.

One potential lifeline for the industry could lie in blockchain technology, which promises enhanced transparency and traceability. With consumers increasingly favouring brands that can provide a “digital identity” for their products, detailing every ingredient’s origin and processing, blockchain could solve the challenges companies like Avon’s face.

Conclusion

While Johnson & Johnson may weather the storm due to its financial strength and crisis management capabilities, Avon’s future remains uncertain. The company’s bankruptcy could either signal the end of an era or catalyse a radical restructuring that might lead to a resurgence. Only time will tell whether Avon can rise from the ashes or become another example of how even industry giants can fall.

Discover how blockchain technology transforms the beauty industry by offering unprecedented transparency and traceability. Explore our industry insights on Young Platform. 

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Cryptocurrencies: 10 big companies already accepting Bitcoin

Cryptomonnaies : 10 grandes entreprises acceptent déjà le Bitcoin: 10 big companies already accepting Bitcoin

Cryptocurrencies are not the future but the present. Here are the major companies that accept Bitcoin payments.

Mass adoption? It’s getting closer and closer. Don’t just take our word for it; just look at how many companies, multinationals, and simple shops are gearing up to accept cryptocurrency payments. Even though many countries still do not fully regulate them, the crypto phenomenon is too big to be ignored. That’s why companies are keen to innovate and push for the spread of crypto payments. And it’s not just about specific niches, but very popular brands and services that are part of our daily lives.

Here is a list of ten companies that accept Bitcoin and cryptocurrencies as a method of payment.

  1. Mastercard

Mastercard has been allowing cryptocurrency payments through its platform for some time now, thanks to collaborations with major players such as Metamask and MoonPay. The company has recognised the usefulness of crypto as real currency. “With the interest [in crypto] coming from various sectors, the real-world applications of cryptocurrencies are surpassing pure speculation,” said Rama Sidhar, vice president for New Digital Payments at Mastercard. During the last months of 2022, the leading payment network company partnered with eight Web3 startups to make crypto more accessible. Among them is the mobile banking app Hi, with which it will launch the first customisable debit card featuring personal NFTs.

  1. Visa

Mastercard’s competitor has also dedicated its energies to cryptocurrency projects in recent years. Since 2020, Visa has been collaborating with various exchanges to offer users the ability to pay in Bitcoin and other cryptos via Visa-enabled debit cards.

  1. Gucci

Dream of buying luxury clothing with your satoshis? At Gucci’s US stores, since August 2022, it’s possible to pay in various cryptos. Specifically, they accept Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Dogecoin, Shiba Inu, ApeCoin (the Bored Apes Yacht Club token), and five stablecoins.

  1. Microsoft

Microsoft, which has accepted Bitcoin payments since 2014, is among the early adopters of blockchain technology. The cryptocurrency can be used for Microsoft services like Skype or Xbox Live.

  1. Tesla

Elon Musk, CEO of Tesla, was among the first entrepreneurs to show interest in Bitcoin. For a while, it was possible to buy electric cars using crypto. Then he changed his mind, temporarily halting Bitcoin payments until mining operations are completely powered by renewable sources.

Despite this, buying some Tesla accessories in Dogecoin (DOGE) is still possible.

  1. Amazon

Although paying directly with crypto on the world’s largest e-commerce platform is currently impossible, Amazon is seeking blockchain experts to join its team. Will we see this new feature soon? We can still shop with crypto through various debit cards or convert our cryptocurrencies into Amazon vouchers through third-party sites. Handy, isn’t it?

  1. PayPal

The payment giant introduced the ability to buy, sell, and hold some cryptocurrencies directly from its app in 2021. However, the feature remained exclusive to US users. In December 2022, there was a breakthrough: the announcement of a partnership between PayPal and Metamask. Thanks to this collaboration, it will be possible to log into your dedicated PayPal area with your Metamask wallet and buy crypto directly from your PayPal account in one step.

  1. Twitch

Twitch, the world’s most used streaming platform, also accepts Bitcoin and other cryptocurrencies for donations and subscriptions. You can support your favourite creators monthly through subscriptions or subs, paying with various cryptos, from Bitcoin to Ethereum, Dogecoin to Litecoin.

  1. McDonald’s

You can buy your Crispy McBacon with Bitcoin and the stablecoin Tether (USDT) at McDonald’s in Lugano. These payments are part of the “Plan B” initiative, which involved the capital of the Ticino canton in October 2022. This project aims to increase the adoption of cryptocurrency in the Swiss city. Payments at McDonald’s in Lugano are processed on Bitcoin’s Layer-2 blockchain, the Lightning Network.

  1. Starbucks

We close the list of 10 companies that allow Bitcoin payments as we would end a meal – with a good coffee, paid strictly in crypto. At American Starbucks cafes, you can buy espressos and frappuccinos in cryptocurrencies directly from the app, thanks to the partnership with Bakkt.

Stores where you can pay with Bitcoin

The companies on this list are not the only ones accepting Bitcoin and cryptocurrencies as payment methods, but they are probably the best known globally. Year after year, many other businesses of various sizes and operating in the most diverse sectors have adopted crypto.

Among these are physical stores located in crypto-friendly countries. Some practical examples? Certain Burger King stores in Venezuela, the US teams Miami Dolphins and Dallas Mavericks, and Coca-Cola vending machines in Australia and New Zealand.

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The Most Powerful Passport: 2024 Global Rankings

most powerful passport 2024

What does it mean to have the most powerful passport in the world?

In 2024, the title of “most powerful passport” is more than just a badge of honour—it’s a gateway to unparalleled freedom and opportunities. But what exactly makes a passport powerful? In this deep dive, we’ll explore the concept of passport power, the global rankings for 2024, and what it means for citizens who hold these prestigious documents.

What is a “powerful” passport?

Imagine travelling freely, crossing borders without hassle, and exploring new cultures without facing bureaucratic obstacles. This is the privilege of having the “most powerful passport in the world.” A powerful passport allows entry into many countries without a visa or with a visa on arrival, granting its holders tremendous freedom of movement.

Advantages and Privileges

Holding a powerful passport comes with several key benefits:

  • Freedom of movement: Travel to numerous countries without needing a visa.
  • Economic opportunities: Easier access to global markets and the ability to relocate for work.
  • Quality of life: The ability to choose from various destinations for living, studying, or working, enhancing overall quality of life.

How the ranking of the most powerful passports changes

The ranking of the most powerful passports in the world is constantly evolving. Changes can be driven by various factors, including:

  • Geopolitics: Tensions or agreements between countries can influence the number of visa-free destinations.
  • International Agreements: New treaties or partnerships can alter entry conditions for citizens of certain nations.
  • Global Crises: Events like the COVID-19 pandemic have significantly impacted global travel possibilities.

Measuring the most powerful passport in the world

Each year, several organisations publish rankings of the most powerful passports based on the freedom of travel they offer. Among the most influential is the Henley Passport Index, which evaluates passports based on the number of countries their holders can visit without a visa.

This ranking compares 199 passports against 227 possible destinations. A passport’s “score” depends on the number of visa-free countries it grants access to, with data from the International Air Transport Association (IATA).

The most powerful passports in the world: 2024 rankings

  1. The new number one: Singapore

In 2024, Singapore has claimed the top spot, surpassing other countries that usually compete for the number one position. Singaporean citizens can now travel to 195 countries visa-free, setting a new record. This achievement cements Singapore’s position as a global leader, thanks to its strong diplomatic relations and economic stability.

As we will explore further, the freedom of movement for individuals is closely linked to capital mobility and, consequently, to a country’s wealth. It is no surprise, then, that Singapore is one of the world’s most “crypto-friendly” countries. Singapore has been striving to establish a regulatory balance for cryptocurrencies and attract the industry within its borders for some time. If you’re interested in following the crypto market, you might want to consider using this:

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  1. Second Place: Europe and Japan

While Singapore has taken the lead, many European and Asian countries share second place, with visa-free access to 192 destinations. France, Germany, Italy, Japan, and Spain are among these countries, highlighting the importance of stability and diplomatic relations in securing travel freedom.

  1. Third Place: a European and Asia dominance

In third place, we find an unprecedented group of seven countries, each with access to 191 visa-free destinations. These include Austria, Finland, Ireland, Luxembourg, the Netherlands, South Korea, and Sweden, emphasising the continued dominance of Europe and Asia in the global passport rankings.

  1. United Kingdom and United States: former powers in decline

The United Kingdom clings to 4th place, sharing the rank with Belgium, Denmark, New Zealand, Norway, and Switzerland, scoring 190 destinations. Although slightly lower than previous years, it remains a significant position. The United States continues to slide in the rankings, landing in 8th place with access to 186 countries visa-free. Both the UK and the US, which held the top spot in 2014, have seen a decline in their passport power over the past decade, reflecting a gradual loss of political and diplomatic influence.

The world’s weakest passports

At the opposite end of the spectrum, Afghanistan remains at the bottom of the list, ranking 199th as the weakest passport in the world. Over the past six months, the Afghan passport has lost access to another destination, leaving its citizens visa-free entry to only 26 countries—the lowest score ever recorded in the index’s history.

The biggest climbers and fallers in the rankings

United Arab Emirates: A Remarkable Ascent

One of the biggest success stories in 2024 is the United Arab Emirates (UAE), which has entered the Top 10 for the first time. The UAE has added 152 destinations since 2006, achieving a score of 185. This leap from 62nd to 9th place results from a targeted government strategy to make the UAE a global hub for business, tourism, and investment.

China and Ukraine: rapid climbers

China and Ukraine have made significant strides in the rankings over the past decade. Since 2014, China has climbed 24 positions, from 83rd to 59th, and Ukraine has moved from 53rd to 30th. Both countries allow their citizens visa-free travel to 148 countries. This improvement reflects the political and economic changes in these countries.

The most significant loser: Venezuela

Venezuela has seen the most significant drop, falling 17 positions from 25th to 42nd place over the past decade. This decline is due to severe economic and political crises, which have forced over seven million Venezuelans to leave. Yemen, Nigeria, and Syria have also seen significant losses, dropping 15, 13, and 13 positions, respectively, due to conflicts and instability that limit their citizens’ mobility.

The Impact of Travel Freedom on Economic Prosperity

In 2024, freedom to travel has become a crucial indicator of economic prosperity. According to the Henley Global Mobility Report, the ability to travel visa-free or to relocate businesses to favourable cities has become a key factor in wealth and international legacy. Passport rankings also connect with the rankings of the world’s richest and poorest countries.

Fastest-growing cities for millionaires

Among the fastest-growing cities for millionaires, Shenzhen and Hangzhou in China have seen impressive growth, with 140% and 125% increases, respectively. Other rapidly growing cities include Bengaluru in India, Austin and Scottsdale in the United States, Ho Chi Minh City in Vietnam, and Sharjah in the UAE, demonstrating how global mobility and visa-free access have become essential tools for expanding wealth. Also, look at the ranking of the richest men in the world.

Conclusion

In 2024, holding the most powerful passport in the world is synonymous with freedom, opportunity, and prestige. It’s not just a travel document—it’s a symbol of global openness. As the ranking of the most powerful passports continues to evolve, reflecting global dynamics, one thing is certain: having a powerful passport means having the world at your fingertips.