Tag: finance

China to Expand Digital Yuan Testing in Pilot Cities to Provincial Level – Finance Bitcoin News

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China’s central bank intends to enlarge the area covered by trials of its digital yuan currency in four regions of the country. A top representative of the monetary authority announced the move while highlighting that the People’s Bank has been stepping up digitalization efforts this year. Government to Increase Digital Yuan Coverage in 4 Provinces of China Chinese authorities are going to expand the digital yuan’s area of application in four of the first pilot cities in the project to the rest of their respective provinces. These are Shenzhen in…

Analysts who called $20k Bitcoin say this is the new low, $2,400 gold to hit by 2023

▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io Patrick Karim and Kevin Wadsworth, technical analysts of Northstar & Badcharts discuss the next price targets for Bitcoin and gold with David Lin, Anchor for Kitco News. 0:00 – Bitcoin price performance 3:00 – Bitcoin price projection 11:15 – Equities 18:22 – Gold #gold #Bitcoin #stocks __________________________________________________________________ Kitco News is the world’s #1 source of metals market information. Our videos feature interviews with prominent industry figures to bring you market-affecting insights, with the goal of helping people make informed investment decisions. Subscribe…

India’s finance minister sees 46% growth in blockchain technology use in next few years

While India’s central bank has adopted a hostile stance towards cryptocurrency, the South Asian nation has recognized the potential for blockchain technology.  See related article: Women in India start to plug into cryptocurrency trading Fast facts Use of blockchain technology is going to rise by about 46% in the next few years, India’s finance minister Nirmala Sitharaman said on Tuesday at an event.  Subhash Chandra Garg, India’s former finance secretary, had told Forkast in an interview in August that the potential of blockchain…

US Treasury Seeks Public Comments on Crypto-Related Illicit Finance and National Security Risks – Regulation Bitcoin News

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The U.S. Department of the Treasury is seeking public input on “digital-asset-related illicit finance and national security risks.” The department warned: “The growing use of digital assets in financial activity heightens risks of crimes such as money laundering, terrorist and proliferation financing, fraud and theft schemes, and corruption.” US Treasury Wants Public Comments on Crypto-Related Illicit Finance The U.S. Department of the Treasury published a notice Tuesday inviting “interested members of the public to provide input pursuant to The Executive Order of March 9, 2022, ‘Ensuring Responsible Development of Digital…

AMC down 40%, stock market plunge to continue, no new highs for 10 years – Gareth Soloway

▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io Gareth Soloway, Chief Market Strategist of InTheMoneyStocks.com, discusses the long-term outlook for stocks, Bitcoin, and gold with David Lin, Anchor for Kitco News. Follow David Lin on Twitter: @davidlin_TV ( Follow Kitco News on Twitter: @KitcoNewsNOW ( Follow Gareth Soloway on Twitter: @GarethSoloway ( 0:00 – Bed Bath & Beyond 5:00 – AMC 8:28 – Bitcoin 12:44 – Ethereum Merge 16:00 – S&P 500 17:00 – U.S. dollar 19:45 – Gold 22:30 – Long-term stock market outlook 24:20 – Asset allocation 26:00…

Nasdaq Establishes Crypto Unit — Sees Increased Demand for Digital Assets Among Institutional Investors – Finance Bitcoin News

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Nasdaq has announced the launch of “Nasdaq Digital Assets” citing increased demand for digital assets among institutional investors in recent years. Initially, the new crypto unit will offer custody solutions for bitcoin and ether to institutional investors. Nasdaq Establishes Crypto Unit Nasdaq (Nasdaq: NDAQ), the world’s second-largest stock exchange, announced Tuesday the launch of a new business called “Nasdaq Digital Assets.” Initially, Nasdaq Digital Assets will develop an institutional-grade custody solution, the announcement details, adding: Nasdaq’s custody solution will bring together the best attributes of hot and cold crypto wallets.…

Maple Finance launches $300M lending pool for Bitcoin mining firms

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On Tuesday, institutional crypto lending protocol Maple Finance and its delegate Icebreaker Finance announced that they would provide up to $300 million worth of secured debt financing to public and private bitcoin mining firms. Qualified entities meeting treasury management and power strategies management standards located throughout North America, as well as those in Australia, can apply for funding. On the other hand, the venture seeks to deliver risk-adjusted returns in the low teen percentages (up to 13% per annum) to investors and capital allocators. The pool is only open to…

DeFi Platform Maple Finance Aims to Help Struggling Bitcoin Miners With $300M Lending Pool

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“Recent market headwinds have caused lenders to pull back, while traditional financing vehicles have been slower to engage this sector,” said Sidney Powell, CEO and co-founder of Maple in a press release on Tuesday. “Miners play an essential role in growing the crypto ecosystem and local economies, and we are proud to extend a new financing vehicle to direct capital where it is needed the most,” he added. Original

HSBC Undertakes Blockchain-based Trade Finance Transacntion for Automotive Sector in the Middle East

Through the Contour platform, HSBC conducted a blockchain-based trade finance transaction between SAIC Motor, a Chinese car manufacturer and Taajeer Group, the exclusive agent for MG cars in Saudi Arabia.  With the help of blockchain technology, it would significantly increase the speed of dealing with paperwork. HSBC noted that by using distributed ledger technology has the potential to revamp the trade finance sector by slashing transaction times to less than 24 hours from the present five to ten days. Per the announcement: “The Contour platform enabled end-to-end digitisation of the…