People familiar with the matter told Bloomberg that Stefan Hoops, the CEO of the division, known as DWS Group, has entered into negotiations to buy a minority stake in Deutsche Digital Assets, a provider of exchange-traded products, as well as trading firm Tradias, which is owned by leading securities trading bank and market maker, Bankhaus Scheich. Source
The United Kingdom is a step closer to launching a Central Bank Digital Currency (CBDC) after releasing a consultation paper explaining the proposed digital pound, which the public has nicknamed “Britcoin.” The 116-page consultation paper was jointly released on Feb. 7 by the Bank of England (BoE) and His Majesty’s Treasury. A technology working paper was also released delving into the technical and economic design considerations. Despite the rise of privately-issued stablecoins in recent years, the paper said CBDCs such as the digital pound can co-exist in what they expect…
Bank of America is preparing for a possible U.S. debt default, says CEO Brian Moynihan. He is not a fan of eliminating the debt ceiling altogether as some lawmakers have proposed. Meanwhile, Treasury Secretary Janet Yellen says “every responsible member of Congress must agree to raise the debt ceiling.” Bank of America CEO Brian Moynihan on Possible US Debt Default The CEO of Bank of America, Brian Moynihan, talked about the prospect of the U.S. defaulting on its debt in an interview with CNN Monday as Congress is in conflict…
A majority of cryptocurrencies are “highly speculative” and have “no intrinsic value,” Cunliffe said, adding that although it is possible some technologies underlying crypto could help develop a digital version of the pound, the bank is considering a range of options. While the central bank has made no decision on using distributed ledger technology (DLT) which is currently used for cryptos, Cunliffe said experimentation with decentralized record-keeping is “important to ensure it is appropriately considered.” Source
“The Bank would place some limits on holdings of digital pounds, at least during its introductory period,” to avoid citizens hoarding their assets in safe central bank money and skirting around the commercial banking system, a consultation published today by the central bank and U.K. Treasury said. “We judge that a limit of between £10,000 and £20,000 per individual is likely to strike an appropriate balance between managing risks and supporting wide usability of the digital pound.” Source
Statistica Capital, an algorithmic trading firm, and Statistica Ltd. claim the bank “had actual knowledge of and substantially facilitated the now-infamous FTX fraud,” according to a filing in the U.S. District Court for the Southern District of New York dated Feb. 6. “In particular, Signature knew of and permitted the commingling of FTX customer funds within its proprietary, blockchain-based payments network, Signet.” Source
The Central Bank of Argentina has announced the issuance of a new 2,000 peso bill, aimed at easing the burden of using cash for payments in the country. The bill, which will have a value of a little more than $5 ‘blue’ dollars (the informal exchange rate), is already being criticized as an insufficient measure. Argentine Central Bank Announces 2,000 Peso Bill The Central Bank of Argentina has taken a new measure in its quest for securing the usability of cash as a means of payment in the country. The…
In addition to resuming its crypto services, the bank has also debuted several new features. Those include support for more than 35 additional cryptocurrencies such as SOL, ADA, SHIB snd DOGE, and the reduction of spreads on new and existing token offerings. The platform now also offers a zero-trading-fee incentive and a rewards program for every dollar traded in non-stablecoin tokens. Source
Global crypto exchange Binance is suspending deposits and withdrawals in U.S. dollars via bank accounts starting Wednesday as more and more banking institutions try to reduce their exposure to the crypto market. “We are working hard to restart service as soon as possible,” Binance said. Binance Suspending USD Deposits and Withdrawals Global cryptocurrency exchange Binance is reportedly suspending withdrawals and deposits in U.S. dollars using bank accounts starting Wednesday. Without providing a reason, a spokesperson for Binance told CNBC: We are temporarily suspending USD bank transfers as of February 8th.…
Binance has announced that it is temporarily suspending bank transfers in United States dollars (USD) beginning Feb. 8. No other trading methods will be affected, the exchange said in a tweet on Feb. 6. The news came with no explanation, although the company, which is the world’s largest cryptocurrency exchange, added in the same tweet that: “We are working hard to restart the service as soon as possible. […] All other methods of buying and selling crypto remain unaffected.” Binance CEO Changpeng Zhao (CZ) said in a separate tweet: “It…