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‘Really Stupid and a Huge Mistake:’ Putin Blasts US Actions Blocking Payments to China; Exporters Turn to Small Banks and Crypto
20.5.2024
Russian President Vladimir Putin charged against the U.S. actions seeking to block Russian payments to China and other countries. During a two-day trip to China, the Russian leader emphasized that this strategy was “really stupid and a huge mistake,” considering that these actions...
Western Banks Face Major Asset Seizure in Russia Amid Gazprom Subsidiary Dispute
19.5.2024
In a significant move against western banks, a St Petersburg court has seized over $763 million of assets from Unicredit, Deutsche Bank, and Commerzbank, following a dispute with a subsidiary of Gazprom. This seizure, one of the largest since Moscow’s invasion of Ukraine, includes $504 million...
Economist Jim Rickards Predicts Gold Price Exceeding $27,000 — Says: ‘It’s Not a Guess. It’s Rigorous Analysis’
19.5.2024
Economist Jim Rickards forecasts that gold prices could surpass $27,000, emphasizing that this projection is not made for attention or shock value. “It’s the result of rigorous analysis,” he clarified. This represents a significant increase from his previous estimate of $15,000 by 2026....
DTCC, Chainlink pilot accelerates fund tokenization with major banks on board; LINK soars 7%
17.5.2024
The Depository Trust and Clearing Corporation (DTCC), recognized as the world’s largest securities settlement system, has successfully completed a pilot project in collaboration with the blockchain oracle Chainlink and multiple major U.S. financial institutions. The term “Smart NAV” given...
Hong Kong digital yuan pilot lacks P2P capabilities
17.5.2024
While Hong Kong residents can sign up for a digital yuan (e-CNY) wallet with a phone number, the CBDC is currently restricted to cross-border transactions and cannot be used for person-to-person transfers within Hong Kong
DTCC, Chainlink complete fund data tokenization pilot with U.S. banks
17.5.2024
The pilot program tested a method of bringing traditional finance fund data onto blockchains with big banks JPMorgan and BNY Mellon also involved
US Senate passes resolution overturning SEC crypto rule on banks
16.5.2024
U.S. President Joe Biden said he intended to veto the joint resolution aimed at overturning an SEC rule requiring banks to keep customers’ digital assets on its balance sheets
Bitcoin Has Best Day in 2 Months as Markets Anticipate a ‘Summer of Easing'
16.5.2024
The net percent of global central banks cutting rates is increasing in a positive sign for risk assets, including cryptocurrencies
SEC custody rule made crypto regulation a ‘political football’ — Rep. Nickel
16.5.2024
The SEC’s proposed crypto custody rule and its “hostility” to the industry isn’t in Joe Biden’s “best interests,” Representative Wiley Nickel told Gary Gensler
Deutsche Bank joins Singapore's asset tokenization project
14.5.2024
Deutsche Bank joined Singapore’s tokenization project soon after reiterating skepticism about transparency about the world’s largest stablecoin, Tether
Chinese Police Arrest Six Suspects in $300 Million Cryptocurrency Money Laundering Case
13.5.2024
The Public Security Bureau of Panshi City in Jilin Province has cracked down on an illegal operation involving underground banks and virtual currencies.
The post Chinese Police Arrest Six Suspects in $300 Million Cryptocurrency Money Laundering Case appeared first on Cryptonews
Chinese workers paid in CBDC are cashing it out for real money: Report
13.5.2024
Some participants of China’s CBDC pilot program are reportedly hesitant to hold onto the digital yuan, citing a range of concerns with using the state-backed digital currency
Billionaire Barry Sternlicht Foresees Banks Failing Every Week in US
12.5.2024
Barry Sternlicht, CEO of Starwood Capital Group, has voiced concerns about the vulnerability of regional and community banks in the U.S. to high interest rates and inflation, particularly amid the commercial real estate downturn. He forecasted frequent failures of these banks, predicting:...
Wells Fargo Banks Has Invested $143 Million In Bitcoin, Filing Reveals
10.5.2024
Wells Fargo has bought Bitcoin after once preventing customers from doing the same many years ago.
The post Wells Fargo Banks Has Invested $143 Million In Bitcoin, Filing Reveals appeared first on Cryptonews
Wells Fargo reports exposure to Grayscale and ProShares Bitcoin ETFs
10.5.2024
The bank reported holding $143,111 worth of shares of the ProShares Bitcoin Strategy ETF, Grayscale Bitcoin Trust and Bitcoin Depot
Stablecoin Issuer Tether Hits Back Deutsche Bank’s Argument Over its Solvency
10.5.2024
Deutsche Bank criticized Tether stablecoin, questioning its solvency and its industry standard for crypto derivatives.
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Tether Counters Deutsche Bank’s Stablecoin Warning, Defends Reserve Transparency
10.5.2024
Tether strongly criticized a Deutsche Bank report that raised concerns about the stability of stablecoins, including Tether’s dollar-pegged token, predicting a potential crisis similar to the 2022 collapse of Terrausd, which erased billions from the market. Deutsche Bank analysts, citing...
Mastercard, Visa, JPMorgan, and Other Major Banks Explore Tokenized Asset Settlements
9.5.2024
Several major financial firms are collaborating to test the benefits of shared-ledger technology for jointly settling tokenized assets like commercial bank money and various securities. The initiative, known as the Regulated Settlement Network, is a proof-of-concept designed to expedite and secure...
ECB’s Joachim Nagel Urges Central Banks to Evolve: ‘We Need to Work on Our Business Model’
8.5.2024
Joachim Nagel, President of the Deutsche Bundesbank and Member of the Governing Council of the European Central Bank (ECB), has raised concerns about central banks’ business model. “If part of your core product is loosening attractiveness then you have to think about another new core...
US Banks and Mastercard Test Ledger Tech for Settling Tokenized Assets – Institutional Adoption on the Rise?
8.5.2024
The largest American banks are jointly experimenting with distributed ledgers to discover the potential of tokenized assets.
The post US Banks and Mastercard Test Ledger Tech for Settling Tokenized Assets – Institutional Adoption on the Rise? appeared first on Cryptonews