Tag: Markets

Treasury Secretary hints at regulatory framework to address potential risks in digital asset markets

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United States Treasury Secretary Janet Yellen listed stablecoins as one of the major policy concerns in the digital asset space for regulators, currently subject to “inconsistent and fragmented oversight.” Speaking to attendees at American University in Washington, D.C. on Thursday, Yellen said the Treasury Department was working with Congress to advance legislation to help ensure that “stablecoins are resilient to risks” for consumers and the U.S. financial system. According to the Treasury Secretary, while stablecoins raised “policy concerns” and issues around the coins’ reserve assets, many parts of the digital…

A Look at the First Quarter’s Top Performing Cryptocurrencies in 2022 – Markets and Prices Bitcoin News

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The first quarter of 2022 has come to an end and specific digital currency markets have seen a lot of action during the last three months. Out of the top ten digital currencies, terra (LUNA) saw the biggest gains, jumping more than 43% higher against the U.S. dollar in Q1. Out of the top 30 crypto assets, unus sed leo (LEO) spiked 58% higher in value against the dollar over the last three months. Q1 2022: Terra, Unus Sed Leo, Ethereum Classic Gain Big — Solana, Algorand, Uniswap Shed Deep…

FTX Takes Stake in Stock Exchange IEX to Strengthen Crypto Markets

“With this investment, we’re aligned with one of the most trusted and innovative companies in equities markets,” FTX CEO Sam Bankman-Fried said in the statement. He added the two companies will “collaborate on the further establishment of crypto market structure and work closely with regulators, allowing institutions around the world to enter the marketplace seamlessly.” Source

NFT Sales Increased by 34% This Week, Azuki Takes Top Sales, NFT Interest Remains Low – Markets and Prices Bitcoin News

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Jamie Redman Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today. Original

JPMorgan Sees Limited Upside for Crypto Markets – Markets and Prices Bitcoin News

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JPMorgan Chase & Co. has warned that any upside for crypto markets from here would likely be more limited. Basing their prediction on the relationship between stablecoins and the rest of the crypto market, the bank’s analyst explained that stablecoins’ share of the total crypto market cap “no longer looks excessive.” JPMorgan’s Crypto Outlook Global investment bank JPMorgan reportedly warned about cryptocurrency markets having limited upside in a note published last week. JPMorgan sees stablecoins’ share of the total cryptocurrency market value as an indicator of potential for rallies or…

Low Smartphone Penetration Working Against Plan to Launch CBDC – Emerging Markets Bitcoin News

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According to Patrick Njoroge, the governor of the Kenyan central bank, the significant number of non-smartphones that are in use in Kenya means launching a central bank digital currency (CBDC) now may be premature and could lead to many citizens being financially excluded. Central Bank Mulls Delaying CBDC Rollout The governor of the Central Bank of Kenya (CBK), Patrick Njoroge, has suggested the lack of access to smartphones of more than half of Kenya’s mobile phone users is working against its plan to launch a CBDC. He warned the central…

US Bond Markets Signal Economic Downturn, Trend Forecaster Says if War Ensues ‘Odds of Recession Increase’ – Economics Bitcoin News

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As Americans continue to deal with rising inflation, on Tuesday the spread between 2-year and 10-year Treasury yields inverted, signaling the U.S. economy may be headed for a recession. This week, a myriad of financial reports have noted that the U.S. dollar’s reserve currency status could be undermined. Moreover, there’s also the possibility of crude oil prices reaching upwards of $250 per barrel, according to a top hedge fund manager. Ominous Inverted Yield Curve Sends Recession Signals, While the Dollar’s Reserve Currency Status Is Questioned On March 29, a closely…

Financial markets are ‘not quite ready’ for Bitcoin bonds

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MicroStrategy CEO and Bitcoin permabull, Michael Saylor believes that traditional financial markets aren’t quite ready for Bitcoin-backed bonds.  Saylor told Bloomberg on Tuesday, that he’d love to see the day come where Bitcoin-backed bonds are sold like mortgage-backed securities, but warned that, “the market is not quite ready for that right now. The next best idea was a term loan from a major bank.” MacroStrategy, a subsidiary of @MicroStrategy, has closed a $205 million bitcoin-collateralized loan with Silvergate Bank to purchase #bitcoin. $MSTR $SIhttps://t.co/QYw2ZgeE3U — Michael Saylor⚡️ (@saylor) March 29,…

CFTC Chief Says FTX Plan Could Make Crypto Markets ‘More Efficient’

“This proposal could end up leading to more efficient trading execution, less risk in the system,” Behnam said, adding that he’s required to cultivate “responsible innovation,” and the idea isn’t necessarily prohibited or in violation of commodities laws. Still, he considered the question worth a significant ongoing public-comment period. “As we are considering and contemplating the FTX proposal, we’re doing it cautiously,” he said. Source

Bitcoin Trades at Discount in Japanese Yen Markets

Thus, the absence of premium in the BTC/JPY market is not surprising – more so as the yen is a G-7 currency and a far stronger unit than Ukraine’s hryvnia, considering it is backed by forex reserves of $1.38 trillion, the second largest in the world. Further, according to Kobayashi, crypto forms a small portion of an average Japanese investor’s portfolio. Source