Tag: Bank

Bank Consolidation Threatens Freedom, Makes Case for Bitcoin

The core issue is not that people’s deposits are at risk from there being too little federal insurance or bailout money to go around, though the problem that there’s a natural limit to that important backstop is another argument for bitcoin. It’s the concentration of banking power that fearful depositors are now enabling by pulling their funds out of small regional banks and funneling them into a few behemoths: Citibank, JPMorgan Chase, Bank of America, Wells Fargo, et al. Source BankBitcoinCaseConsolidationFreedomThreatens CryptoX Portal

BTC price centers on $28K as Deutsche Bank shares follow Credit Suisse

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Bitcoin (BTC) diced with $28,000 at the March 24 Wall Street open as fresh banking woes failed to provide a further boost to crypto. BTC/USD 1-hour candle chart (Binance). Source: TradingView Traders stay optimistic on BTC long-term trend Data from Cointelegraph Markets Pro and TradingView showed BTC/USD losing momentum to hit daily lows of $28,001 on Binance. The pair was attempting to cement support after a classic comeback the day prior erased panic on the back of the latest United States economic policy moves. The Federal Reserve hiked baseline interest…

California Leads the Way as U.S. Federal, State Agencies Consider Blockchain’s Applications: Bank of America

The project is seen as a first step with the potential for additional functionality, the note said. These may include the ability to record repairs within the NFT, to use stablecoins as the payment leg for “atomic title transfers” and allow vehicle-licensing agencies from other states to join the platform so they can benefit from the same efficiencies as well as producing incremental efficiencies related to cross-state vehicle sales. Source

Bank profits at risk from potential CBDC transformation of global economy: Moody’s

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Emerging central bank digital currency (CBDC) cross-border transaction technology could transform the global economy by providing faster, cheaper and safer services for many of its players. But banks may not fare as well in that new economy, Moody’s Investor Service said in a report dated March 21. Many proposals for the domestic use of CBDCs foresee a crucial intermediating role for banks in their operations, but cross-border CBDC transactions would depend on entirely new infrastructure that reduced the role of banks more severely, Moody’s pointed out. Banks would see benefits…

UAE central bank signs deal for CBDC strategy

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The Central Bank of the United Arab Emirates (CBUAE) is inching closer to fully launching its central bank digital currency (CBDC) — the digital dirham — for domestic and cross-border payments. According to an announcement on March 23, the CBUAE signed an agreement with Abu Dhabi’s G42 Cloud and digital finance services provider R3 to be the infrastructure and technology providers of the CBDC implementation. In addition to addressing the challenges of domestic and cross-border payments, the central bank says it will also help boost financial inclusion as the country looks to…

Ethereum Usage Will Drop if the Blockchain Doesn’t Increase Its Throughput: Bank of America

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Swiss National Bank Raises Interest Rate by 50 Basis Points amid Banking Crisis

According to the Swiss National Bank, additional interest rate hikes should not be ruled out in the mid to long term. The apex bank of Switzerland, the Swiss National Bank (SNB) has announced its latest interest rate hike by 50 basis points or 0.5%. According to the press release published by the SNB earlier today, the benchmark interest rate is now pegged at 1.5% in what the regulator tagged as its attempt to stem the soaring inflation rate. “The SNB is tightening its monetary policy further and is raising the…

Next Evolution of BlockChain Software Has Only Just Started: Bank of America

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated. The leader in news and information on cryptocurrency, digital assets and the future of money, CryptoX is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CryptoX is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CryptoX employees, including editorial employees, may receive exposure to DCG equity…

Next Evolution of Blockchain Software Has Only Just Begun: Bank of America

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated. The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity…