Search results: federal reserve

Cryptocurrencies have won credit for their role in Ukraine’s war, showing utility that will drive them beyond the battlefield, says Amber Group’s Michael Wu.

Capital control limiting outflows may be less of an issue in the future with e-CNY being a ‘controllable currency,’ experts say.

Bitcoin and most of the top cryptocurrencies by market capitalization landed in the green on Thursday after the U.S. Federal Reserve raised interest rates on Wednesday. See related article: Is Bitcoin really a hedge against inflation? Fast facts The U.S. central bank hiked its benchmark interest rate by 0.25 basis points, for the first time […]

Russia’s war on Ukraine is battering crypto prices, but what does the more distant future hold for BTC and ETH? Fintech experts offer predictions.

Bitcoin’s recent slumps have been coupled with macroeconomic activities, bringing its status as an inflation hedge into question.

Investor relief at last week’s slight market rebound gave way to concerns over military tensions in Ukraine, sending crypto and traditional markets reeling.

President Biden’s executive order directing agencies to devise a comprehensive strategy to regulate cryptocurrencies and other digital assets and examine a digital dollar may be issued next week, according to Yahoo! Finance. Fast facts The order, expected weeks ago, was delayed by a disagreement between the White House and the Treasury over its scope, Bloomberg […]

Top blockchain and crypto news: Super Bowl score for digital asset exchanges. CryptoPunks holders face copyright conundrum. Hong Kong warns of NFT risks.

As Bitcoin’s price movement began to mirror that of traditional markets, some likened it to tech stocks. Its recent price action shows otherwise.

As more countries announce plans for central bank digital currencies, will that break crypto’s promise as the future of money?

After a poor start to the year, the market needed some good news. Industry watchers urge caution.

Meta (formerly Facebook)-backed stablecoin project Diem’s intellectual property and assets have been sold to cryptocurrency bank Silvergate Capital Corporation for US$182 million, both entities confirmed on Monday. Fast facts “[W]e identified a need for a U.S. dollar-backed stablecoin that is regulated and highly scalable to further enable them to move money without barriers,” said Silvergate […]

The Bank of Japan’s (BOJ) chief called on the U.S. and Europe to cooperate on creating a global technical standard for a central bank digital currency (CBDC), Reuters reported on Friday.  Fast facts The central bank has not made a decision on the issuance of a CBDC, but has conducted experiments while deliberating on the […]

CBDCs can increase financial inclusion and prevent crime, according to blockchain expert Tiana Laurence. What’s not to like about state-backed digital money?

The global cryptocurrency market rose along with smaller gains in the broader equity and bond markets in the aftermath of a Federal Reserve Open Market Committee statement Wednesday afternoon that it would leave interest rates untouched at near zero but expects to raise them soon. As the market digested the latest report, prices began trending […]

Bitcoin and Ethereum fall below psychologically important levels as rising uncertainty clouds markets. Is the Fed also depressing crypto’s prospects?

Though the world’s most powerful central bank does not stake a position, its discussion paper is a big step toward supporting a future US digital currency.

The U.S. Federal Reserve’s report on central bank digital currencies (CBDCs) released on Thursday did not contain policy recommendations or decisions on digital dollar issuance. Fast facts The paper acknowledged that the Fed will not proceed in creating a digital dollar without clear support from lawmakers, ideally through a specific authorizing law. The Fed said […]

The U.S. Federal Reserve is deferring to Congress to decide whether to introduce a central bank digital currency (CBDC), Lael Brainard told the Senate banking committee Thursday at her Fed vice chair nomination hearing. Fast facts Republican Senator Cynthia Lummis asked whether the vice chair nominee believed that the digital dollar should be available to […]

Internet blackouts are partially restored but access remains unpredictable to support full crypto mining, industry players say.

The 2022 crypto market has had a tough start as Bitcoin and Ethereum dipped below significant price points. But crypto experts say it’s not all doom and gloom.

Federal Reserve Chairman Jerome Powell will reiterate his pledge to prevent entrenched inflation, in testimony released before his Senate nomination hearing on Tuesday.  Fast facts “We will use our tools to support the economy and a strong labor market and to prevent higher inflation from becoming entrenched,” he said in a statement prepared for delivery. […]

Kazakh riots hit miners, meanwhile Fed hits crypto market

The crypto market leaders are trading sideways so far in the new year. But NFT trading volume has exploded, with strong Q1 performance expected.

2021 was a big year for crypto. As we enter a new year, Forkast.News asks market watchers what might be in store for the next 12 months.

Bitcoin’s current price is not indicative of the crypto’s future prospects, says Mark Yusko, who looks forward to the tokenization of everything.

Federal regulators have turned their sights on stablecoins. But is the attempt to tame this digital currency too late?

For the second weekend in a row, markets were hit with a massive shock due to external factors. Market watchers weigh in on price movements and what to expect.

As the market recovers from a weekend sell-off, Terra and Shiba Inu tokens shine bright while Ethereum eyes new price heights. What’s behind their rally?

Fed chairman Jerome Powell signaled that tighter monetary policy may be coming, which sent Bitcoin price’s down slightly.

The Federal Reserve Bank of New York has joined hands with the Bank for International Settlements (BIS) to launch an innovation hub in New York— dubbed the New York Innovation Center (NYIC) — to explore and build financial technology products for the central bank community. Fast facts The NYIC will focus on five areas — […]

U.S. Federal Reserve officials are exploring raising interest rates and pulling back on economic help extended during the pandemic if inflation continues to rise, minutes from a meeting held in early November show. Fast facts The meeting, held on Nov. 2 and Nov. 3, included the Federal Open Market Committee and the Board of Governors […]

Top blockchain and crypto news: Fed nominations suggest no sudden moves. El Salvador’s Bitcoin lava affair. Dodgy dealings in China’s digital yuan.

Three U.S. agencies released a joint statement outlining a plan to fast-track crypto-asset regulation in 2022.

The digital print of the U.S. Constitution grew an estimated 35% in value by the time Ken Griffin made the winning bid, surely ushering in more NFT interest.

The US Infrastructure Act has provisions that should make crypto advocates shudder, writes Alex Shipp of Offshift. Who will stand up for crypto’s core values?

Within minutes of reports showing U.S. consumer prices rising and weekly wages falling, Bitcoin surged on inflation fears.

The Central American nation is the first to adopt Bitcoin as legal tender. As many countries face similar issues of large unbanked population and high remittance fees, will others follow suit?

Blockchain technology company Huobi Group is celebrating its 8th-year anniversary with a slew of events and giveaways — including a space trip “to the outer perimeters of Earth” — and a focus on expanding its global footprint, according to a company announcement. Fast facts Founded in 2013 in China, Huobi has made global expansion a priority […]

In a special Q&A, CEO Louis Liu describes the hoops FOMO Pay jumped through to win Singapore’s first crypto license and calls its regulator a ‘collaborator.’

Top blockchain and crypto news: Big money heads for Bitcoin. How fishy are Squid Game NFTs? China mothballs mining.

  Jerome Powell’s remarks on Sept. 30 following his testimony about the financial hardships of the pandemic caught the attention of crypto enthusiasts. Taking questions from the House Committee on Financial Services, Chairman Powell said the Federal Reserve would not seek a ban on crypto but reiterated that stablecoins should be regulated.  Bitcoin jumped by […]

The U.S. Securities and Exchange Commission has no plans to ban cryptocurrencies, chair Gary Gensler said during a congressional hearing on Tuesday. He added that any decision to ban crypto is “up to Congress.” Fast facts Gensler responded to Rep. Ted Budd’s question about whether the U.S. plans to ban crypto along the lines of […]

Bitcoin investment products saw inflows of US$69 million last week amid improving investor sentiment, according to digital assets fund manager CoinShares. Fast facts “We believe this decisive turnaround in sentiment is due to growing confidence in the asset class amongst investors and more accommodative statements from the U.S. Securities [and] Exchange Commission and the Federal […]

While a US digital dollar is stuck at pole position, China’s digital yuan is nearing the finish line. Michael B. Greenwald of Tiedemann Advisors explains why it matters to the future global economy.  

Ahead of the U.S. Banking Committee’s hearing on the “Oversight of the U.S. Securities and Exchange Commission” today, SEC Chairman Gary Gensler reiterated his call for crypto platforms and projects that have securities to register with the agency. Fast facts In prepared remarks, Gensler emphasized the concerns he sees over the lack of investor protection […]

It’s hard to move forward on a CBDC when those in charge can’t agree. Is time running out for an American digital dollar?

Bitcoin’s price dropped following a quick ascent past US$50K, but analysts say the rally is set to continue. Meanwhile, Solana again defied the overall market to post a new price high.

Circle, issuer of the world’s second-largest stablecoin USDC, has announced plans to be 100% backed by cash and short-term U.S. Treasuries by September. The company’s most recent attestation showed USDC’s US$22.2 billion supply was backed by only 61% “cash and cash equivalents.” Fast facts Circle had indicated earlier in the month that it wishes to […]

U.S. Treasury Secretary Janet Yellen says that the United States needs “to act quickly to ensure there is an appropriate U.S. regulatory framework in place” for stablecoins. Fast facts Yellen made her comments at a Meeting of the President’s Working Group on Financial Markets, held on July 19. According to a readout of the meeting, […]

The price of gold is rising with inflation. Then why is ‘digital gold’ Bitcoin’s price stagnant — and public interest in BTC falling to a new low?

Soaring BTC and altcoin prices earlier this year drew in new investors, who now worry about the current slump. Will crypto prices rise again, or are modest valuations here to stay?

Being a ‘crypto native’ involves much more than using Bitcoin and DeFi, writes Alvin Lee of DeGate DAO. It’s sharing core values like freedom and inclusion.

El Salvador recently became the first country to recognize Bitcoin as legal tender, and it seems unlikely to be the last. Samson Mow, chief strategy officer of Bitcoin technology company Blockstream, looks forward to a future in which Bitcoin edges out fiat currency.

In the last installment of a 3-part series on blockchain in Asia, Forkast.News examines: Everyone knows money has value. But does it also have ‘values’?

Bitcoin was recovered by the FBI from the Colonial Pipeline ransomware cyber criminals DarkSide, sparking privacy concerns around cryptocurrencies.

Bitcoin sheds 4% but BTC’s share of the total crypto market grows after US Fed projects higher inflation and plans interest hikes earlier than expected.

Top blockchain and crypto news: Bitcoin finds fresh favor in Global South. Why would hackers demand a Bitcoin ransom? Chinese miners eye Yunnan probe.

Top blockchain and crypto news: El Salvador bets on Bitcoin as national currency. ETH gains ground on BTC. Beijing dishes out digital yuan in latest trials.

Now that Salvadoran President Nayib Bukele’s Bitcoin-as-legal-tender bill is almost reality, what will it mean for BTC investors around the world?

El Salvador is proposing a bill to adopt Bitcoin as legal tender in the Central American nation. In a videotaped announcement shown at the Bitcoin 2021 Conference in Miami, President Nayib Bukele said he would submit the bill this week.

Other top blockchain and crypto news: Thailand’s SEC tries to rein in DeFi via regulation. Will China’s future DCEP digital yuan offer smart contracts?

The U.S. dollar reigns supreme as the current world reserve currency. Could the USD’s status change with the rise of CBDCs like China’s DCEP digital yuan?

Former CFTC chairman Chris Giancarlo and Accenture’s David Treat are not in a CBDC race, but a ‘contest’ to develop money that reflects societal values.

Fund managers have reacted swiftly to the latest price volatility in the cryptocurrency market triggered by recent Elon Musk tweets that have raised doubts over Tesla’s future relationship with Bitcoin, the Financial Times reports. Fast Facts: T Rowe Price President and Head of Investments Rob Sharps recognized the impact of cryptocurrencies across capital markets, but […]

Global US dollar reserves touched a 25-year low in Q4 2020, according to a new IMF report. Will a digital euro and e-RMB muscle in?

Dogecoin’s price is now at an all-time high of 69 cents, and the joke crypto is now bigger than Ford and Nintendo. Are DOGE investors high on Gemini?

The private sector-led Digital Dollar Project is planning CBDC pilots for the US. How are central bank digital currency efforts and progress different in Asia?

Changpeng Zhao, Binance CEO, has cautioned on the challenges that cryptocurrencies like Bitcoin could face upon the launch of the digital dollar. He made these comments during an interview. Zhao explained that the central bank digital currency (CBDC) would lack properties like “freedom of use” and “limited supply” that make cryptocurrencies unique. He added that […]

When Diem launches and central banks roll out digital currencies, what role will each play? Here is a look at the world’s financial and payments future.

One year after China unveiled a digital currency via testing, its potential for displacing dollar diplomacy is becoming more understood. Is the US worried yet?

Court ruling favoring Ripple executives and slapping down SEC catapults XRP — now the world’s 4th most popular crypto — to its highest prices in 3 years.