Month: May 2023

ECB Announces 7th Consecutive Interest Rate Hike of 25 Basis Points after Eurozone Inflation Climbs 7% in April

On Thursday, the ECB increased interest rates for the seventh consecutive time, with the latest figure aligning with analysts’ predictions.   The European Central Bank (ECB) has hiked interest rates for a seventh consecutive time as its war against inflation wages on. Today, the eurozone central bank hiked rates by 25 basis points as expected following its May policy meeting. The latest rate hike decision also sees the main refinancing operations’ interest rate increased to 3.75%. In addition, the rate on the marginal lending facility and the deposit facility also grew…

Anti-CBDC Bill Receives Overwhelming Support in House and Senate – Bitcoin News

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In the wake of Florida Governor Ron DeSantis’ remarks in Jacksonville on Tuesday, both the Florida House of Representatives and Senate have approved the state’s anti-central bank digital currency (CBDC) legislation, dubbed SB 7054. The bill explicitly states that should the U.S. central bank, a federal agency, or a foreign government issue a CBDC, its use as a “digital medium of exchange” will be strictly forbidden in Florida. Florida Aims to Protect Privacy with Ban on Central Bank Digital Currencies On Wednesday, the Florida House of Representatives endorsed the anti-CBDC…

Bitcoin drops with stocks as analyst warns of banking crisis ‘endgame’

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Bitcoin (BTC) slid below $29,000 around the May 4 Wall Street open as United States equities showed jitters over the resurgent banking crisis. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView “Too much all at once” for U.S. banks Data from Cointelegraph Markets Pro and TradingView showed BTC/USD losing ground as the S&P 500 shed 0.7%. The risk asset comedown accompanied more mayhem for U.S. regional bank stocks, withe PacWest Bancorp once again leading the way, falling over 50% on the day. The embattled lender had already seen major losses, and…

Central Bank Digital Currencies (CBDCs) Are Unexpectedly Becoming a U.S. Presidential Election Issue

China is indeed the most visible champion of this technology. While the digital yuan is still far from ubiquitous in China, it still covers 13.6 billion RMB, 260 million wallets and 25 cities, according to Ananya Kumar at the Atlantic Council. It may not be so scary to think of a CBDC as one form of payment, co-existing alongside cash, stablecoins and decentralized cryptocurrencies like bitcoin. But China’s CBDC project is so ambitious that it’s not impossible to conceive of Beijing pulling levers to incentivize citizens to primarily rely on…

9 tips to help crypto companies choose and succeed with a banking partner

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Choosing the right banking partner can be a particularly tricky process for a crypto or blockchain company. While there are many options in the market, only a few will possess the experience, commitment and risk tolerance companies in a young and tech-forward industry need. And simply making a choice won’t seal the deal: Crypto and blockchain entrepreneurs must have the detailed information banks will demand at their fingertips and be ready to reciprocate the transparency they themselves expect from a financial partner. There’s a lot of homework to be done…

ZkLink Raises $10M From Backers Including Coinbase Ventures

“zkLink plays a crucial role in shaping the future of the crypto landscape by leveraging the potential of ZK technology,” co-founder Vince Yang said in an email to CoinDesk. “For newcomers to the field, envision a scenario where DeFi trading delivers comparable user experience, efficiency, and speed as centralized exchanges, but also provides the advantages of being trustless and non-custodial.” Source 10MBackersBitcoinCoinbasecryptoexchangeExchangesIncludingRaisesVenturesZkLink CryptoX Portal