Tag: Bank

Bank of Japan Ends Eight-Year Negative Rates Regime; Bitcoin Slides to $62.7K

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“The BOJ is now essentially data-dependent, which is a big change in the BOJ reaction function and opens up the scope for greater FX volatility that should discourage a further build-up of yen carry positions at these weaker yen levels. Import inflation is again picking up, and government subsidies that are helping to depress inflation will end on April 30,” Derek Halpenny, head of research, global markets at MUFG Bank, said in a note sent to clients after the rate hike. Original

El Salvador Moves ‘Big Chunk’ of Its BTC to Cold Wallet — President Bukele Says ‘Call It Our First Bitcoin Piggy Bank’

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El Salvador has transferred “a big chunk” of its bitcoin holdings to a cold wallet, President Nayib Bukele has announced. “You can call it our first bitcoin piggy bank,” he said. As of writing, the wallet’s balance totals approximately 5,690 bitcoins. El Salvador Establishes Its First ‘Bitcoin Piggy Bank’ El Salvador’s President Nayib Bukele announced […] Original

Ex-Swiss bank director discusses the future of Bitcoin ETFs after record-breaking trading day

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Bitcoin ETFs shattered records with a 14,261 bitcoin purchase on March 12, as a former Swiss Bank Director shed light on the changing Bitcoin ETF investment scene. On March 12, net spot Bitcoin ETF inflows surpassed $1 billion, with Blackrock’s IBIT product reaching a record $849 million inflow and exceeding 200,000 BTC in assets under management, as per reports. The latest surge in trading activity eclipses the initial enthusiasm seen at the ETFs’ inception and establishes a new market engagement benchmark. In a March 14 interview with Crypto.news, Clive Thompson,…

The Biggest Bank Heist in History Is Coming

This mainstreaming of crypto by traditional financial institutions and regulators is exciting. But these banks are mostly tokenizing on permissioned networks, which regulators are encouraging. In December, while announcing plans to revise its bank capital standard for crypto-assets, the Basel Committee on Banking Supervision stated that since permissionless blockchains “create risks that cannot be sufficiently mitigated at present”, the highest bank capital requirements would be retained for crypto-assets held on permissionless blockchains. The Committee probably concluded this because permissionless blockchains are maintained by thousands of validators that are not subject…

Financial Markets Tense as Inflation Rise Suggests US Central Bank May Keep Rates Steady

The U.S. Consumer Price Index (CPI), experienced a 3.2% increase over the 12 months ending in February, marginally higher by 0.1% compared to January’s CPI. This development is not being well-received by the financial markets, as the U.S. Federal Reserve might postpone any reductions in the benchmark federal funds rate. Persistent Inflation Pressures Fed, Leaving […] Source CryptoX Portal

Economic Intelligence Unit: Nigerian Central Bank Lacks Capacity to Defend Local Currency

The Economic Intelligence Unit has stated that the Central Bank of Nigeria cannot halt the rapid depreciation of the local currency. The continued volatility of the naira is expected to result in erratic regulation, primarily affecting businesses that hold foreign exchange. Nigeria Presses Ahead With Reforms The Economic Intelligence Unit (EIU) has stated that the […] Source BitcoincryptoexchangeExchanges CryptoX Portal

Nigerian Central Bank, Real-World Asset Firm Partner to Revive Struggling CBDC

Gluwa, a platform for real-world assets, announced on March 7 its partnership with the Central Bank of Nigeria. The partnership arrangement aims to improve the functionality of the Nigerian central bank’s digital currency and promote financial innovation through blockchain technology. Improving the CBDC’s Utility Gluwa, a real-world assets platform, has entered into a partnership arrangement […] Source CryptoX Portal

Jerome Powell Clarifies: US Far From Introducing a Central Bank Digital Currency

Federal Reserve Chair Jerome Powell stated before the Senate Committee on Banking, Housing, and Urban Affairs that the United States is far from adopting or even recommending the introduction of a central bank digital currency (CBDC), emphasizing a significant distance from such a possibility. He assured that any potential CBDC would not be designed for […] Source CryptoX Portal