Tag: Bank

BTC price gains 6% as First Republic Bank drama delights Bitcoin bulls

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Bitcoin (BTC) headed toward $29,000 on April 26 after overnight gains marked a solid rebound. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin short squeeze risk on the rise Data from Cointelegraph Markets Pro and TradingView showed BTC/USD advancing swiftly during Asia trading to deliver 6.5% upside versus its local lows. The pair had begun its comeback after the April 25 Wall Street open amid fresh concerns over United States bank stability. These came as First Republic Bank reported a dramatic fall in deposits, its share price tanking 50% on…

Bitcoin price jumps in the wake of First Republic Bank crash

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The price of Bitcoin (BTC) spiked more than 3% in the last 24 hours as fears were sparked of another possible imminent bank failure as First Republic Bank (FRC) shares closed down more than 50% on April 25. According to the Head of Research at Australian crypto education platform Collective Shift, the price of Bitcoin rallied immediately following Fox News Business Reporter Charles Gasperino breaking the news that bankers working with First Republic Bank expect the institution to go into government receivership. #Bitcoin $BTC is up 2.4% in the last…

Zimbabwe’s Central Bank Says Upcoming Gold-Backed Digital Currency to Help Reduce Demand for US Dollar – Africa Bitcoin News

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The governor of the Zimbabwean central bank, John Mangudya, recently revealed that his institution is planning to introduce a gold-backed digital currency. According to the governor, the soon-to-be-introduced gold-backed digital currency is expected to help diminish local residents’ demand for the U.S. dollar. Taming High Demand for the US Dollar The Zimbabwean central bank has said it will introduce a gold-backed digital currency that will be used both as an alternative medium of exchange and a store of value. According to a report in the Sunday Mail, this gold-backed version…

Indonesia Is Following BRICS De-Dollarization Lead, Says Central Bank Governor – Economics Bitcoin News

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Indonesia is following the BRICS’ lead in de-dollarization and shifting away from the U.S. dollar in trade settlements and financial transactions, according to the country’s central bank governor. The BRICS nations are working on creating a common currency to reduce their USD reliance. Indonesia’s De-Dollarization Efforts Bank of Indonesia Governor Perry Warjiyo said Friday that Jakarta is following the lead of the BRICS bloc to shift away from using the U.S. dollar in trade and financial transactions, Sindonews reported Friday. The BRICS nations (Brazil, Russia, India, China, and South Africa)…

Bitcoin (BTC) May Hit $100K by Year-End, Standard Chartered Bank Says

“Against this backdrop, bitcoin has benefited from its status as a branded safe haven, a perceived relative store of value and a means of remittance,” analyst Geoff Kendrick wrote. Bitcoin has gained 65% since the start of the year. It rose above $30,000 last week for the first time in almost a year. It was recently trading at $27,328, down 1.2% in the past 24 hours. Source

Bank of Korea given right to investigate local crypto firms: Report

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The central bank of South Korea has been given the green light to ramp up its scrutiny of cryptocurrency service operators and issuers amid further discussions on virtual asset legislation in the country. On April 20, local media outlet The Korea Herald reported the Bank of Korea (BoK) will be given the right to investigate operators of cryptocurrency-related businesses. The South Korean central bank has been competing with the country’s financial regulator, the Financial Services Commission (FSC), over crypto jurisdiction. However, the FSC will have the final say in governing…

Zimbabwe’s central bank to issue gold-backed digital currency: Report

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The Reserve Bank of Zimbabwe is set to introduce a gold-backed digital currency to serve as a legal tender in the country. The move is a government initiative to stabilize the local currency from its depreciation against the United States dollar.  According to a report from local media Sunday Mail, the move will allow small amounts of Zimbabwe dollars to be exchanged to the digital gold token, enabling more Zimbabweans to hedge against the currency volatility. Central bank governor John Mangudya said the plan intends to “leave no one and…

New York regulator and Danish central bank governor discussed crypto regulation

New York State Department of Financial Services (NYDFS) superintendent, Adrienne Harris, met with a delegation led by Danmarks Nationalbank governor, Signe Krogstrup, earlier in the week. According to a tweet by the NYDFS, Adrienne Harris met with Danish central bank governor Signe Krogstrup to discuss global financial stability and ongoing coordination regarding virtual currency regulation. Not much was divulged about the content of the meeting, but it comes in the wake of the European Parliament passing the Markets in Cryptoassets (MiCA) regulations expected to govern cryptocurrencies and associated technologies and…