Raymond James says it remains bullish on the firm’s long-term prospects to deliver higher loan growth, operating efficiency and credit metrics, but says the bank’s plan to diversify its business model will likely result in slower growth and net interest margin (NIM) compression. Source
Of course, moving forward with bipartisan, tailored and fit-for-purpose legislation requires a careful reflection on recent events. The picture is clear: The failure of FTX International is defined by centralization, and a complete lack of basic corporate governance, accounting standards and basic morality. It is not a failure of crypto, its technology or approach to consumer finance. Source
Bitcoin is still stuck in a tight range as market sentiment declines from optimistic to bearish and market participants brace for a possible impact. The cryptocurrency was thriving on the possibility of a positive change in the macroeconomic landscape. Did bulls rush into a trap? As of this writing, Bitcoin (BTC) trades at $16,800 with sideways movement in the last 24 hours. In the previous week, the cryptocurrency is holding onto some profits, but there is a chance the bullish trajectory will retrace back to the yearly lows. BTC’s price…
According to a new document published on Dec. 7, South-African auditor Mazars confirmed that cryptocurrency exchange Binance possessed control over 575,742.42 of customers’ Bitcoins (BTC) worth $9.7 billion at the time of publication. Through the process, Mazars stated that “Binance was 101% collateralized.” The scope of the inquiry included customers’ spot, options, margin, futures, funding, loan, and earn accounts for Bitcoin and wrapped Bitcoin (WBTC). Aside from the Bitcoin network, BTC wrapped on Ethereum, BNB Chain, and Binance Smart Chain were also included in the inquiry. As part of its…
Though the collapse of crypto exchange FTX has revealed flaws in accounting and risk management, Panetta said crypto would likely “continue to attract investors looking to gamble” – a risky activity he wants to keep sealed off from traditional finance. Original Source bannedCryptoECBEnergyIntensiveOfficial CryptoX Portal
Fabio Panetta likened the ecosystem to gambling and a Ponzi scheme. Source
The partnership between Uber and Motional will not be the first time the latter startup has inked a similar partnership with other ride-hailing giants such as Lyft and Via Networks. American ride-hailing giant Uber Technologies Inc (NYSE: UBER) has inked a partnership with Motional, a Hyundai-Aptiv joint venture focused on commercializing self-driving technology, to launch a public autonomous ride-hailing service in Las Vegas, Nevada. As reported by TechCrunch, the robotaxi service will feature Motional’s electric IONIQ 5 vehicles and will leverage the existing customer and route network of Uber to…
The Payment Systems Regulator will be looking at what happens if a crypto payment system goes wrong and the measures needed to protect consumers against fraud, Nick Davey, a Payment Specialist, told CoinDesk in an interview. Source
Cryptocurrency mixing services are a divisive subject in the industry. Some advocate for the privacy-enabling features of these protocols while others maintain that they are mainly used for illicit means. For platforms like Tornado Cash, the mainstream verdict is “guilty as charged.” The infamous decentralized mixing protocol was sanctioned by the United States Office of Foreign Assets Control (OFAC) in August 2022, essentially making it illegal for anyone to make use of the service. Tornado Cash continues to be a contentious topic and one of its developers, Alexey Pertsev, controversially remains…
Over the last 100 days or roughly three months, bitcoin’s market dominance among 21,958 different crypto assets worth roughly $850 billion has been under 40%. Bitcoin dominance has been under 40% since Aug. 27, 2022, with a brief instance of rising above the 40% range 52 days ago, on Oct. 15. Bitcoin’s Market Superiority Lost 41% in 35 Months Bitcoin’s market capitalization has been above the $325 billion region since Nov. 29, 2022. At the time of writing, bitcoin’s (BTC) overall market valuation is around $328 billion, which represents around…