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First Mover: Even Bank of America Acknowledges China Winning Digital-Currency Race
7.7.2020
BoA researchers anticipate that China's digital yuan might make a dent in the greenback’s global hegemony
Smoke and Mirrors as Mainstream Banks Discourage Clients From Crypto
19.5.2020
A data-based approach to cryptocurrency investment shows promise, so why are investment advisors at top firms still pushing clients away?
JPMorgan, Bank of America, Wells Fargo Sued Over Trump’s Paycheck Protection Program
22.4.2020
Class action lawsuits have been filed against JPMorgan Chase, Bank of America, Wells Fargo, and U.S. Bank for their alleged unlawful and fraudulent practices in the Paycheck Protection Program. This program is part of President Trump’s $2.2 trillion stimulus package to help small businesses...
Americans Purchase $1,200 Worth of Bitcoin, While 7 Banks Fumble With Stimulus Payments
20.4.2020
For years now, bitcoiners and cryptocurrency proponents have said the antiquated banking system will not continue to survive for very long and the financial system is showing massive cracks these days. The recent stimulus check fiasco is a prime example of the issue, as customers from PNC, JPMorgan...
Largest US Banks Expect Billions in Loan Losses, Profits Plunge
19.4.2020
Several of the largest U.S. banks have set aside billions of dollars in reserves as they expect massive losses from loan defaults, sending their profits nosediving. Wells Fargo’s first-quarter earnings fell a whopping 90% while JPMorgan Chase’s profit dropped 70%. Bank of America...
JPMorgan, Bank of America, Deutsche Bank Predict Major Recession
11.4.2020
Big banks are predicting a major recession, the deepest one in the post-war era. JPMorgan Chase CEO Jamie Dimon said his bank cannot be immune to the resulting financial stress while Bank of America expects the U.S. economy to “collapse” and Deutsche Bank has forecasted a severe global...
World’s Largest Banks Losing Stock Value During Weeks Marked by Pandemic
25.3.2020
The spreading coronavirus infection is taking a toll on the global economy and traditional financial institutions are already hurting. The world’s largest banks have seen their stocks losing value over the past weeks and months while facing cash withdrawal pressure and preparing to deal with...
The Multi Trillion-Dollar Stimulus Package: These Are the US Corporations Begging for Bailouts
23.3.2020
The coronavirus outbreak has caused considerable damage to the global economy and this week the U.S. is facing the onslaught of the scare. As Republicans and Democrats battle in congress over a 2020 stimulus plan, corporate industries are leaping at the chance to get a bailout. While the Fed tosses...
US Cash Crisis: Withdrawal Limits Spark Bank Run Fear
18.3.2020
The entire world has been focused on the economy as the coronavirus outbreak has devastated global markets. While stocks, commodities, and barrels of oil plunge in value, there’s been considerable demand for cold hard cash in certain countries. According to reports, Wall Street’s elite...
Bitcoin Gained 8.9 Million Percent Over the Last Decade
27.12.2019
2020 is fast approaching and the last decade will be behind us. Throughout the last ten years, the biggest unicorn firms were born like Uber and Airbnb. However, even though Bitcoin isn’t a company, the best investment of the decade belongs to the decentralized cryptocurrency Satoshi created....
Ex-DOJ, Capital One Exec to Lead Compliance at Crypto Payments Startup Celo Labs
26.11.2019
C Labs, the company working on Celo, is bringing on former DOJ official Jai Ramaswamy to head compliance
Cryptoworld Votes BTC after Bank of America Axes Ex PayPal CFO Account
18.11.2019
Source: iStock/E_Y_E
Always hungry for more proofs that Bitcoin (BTC) is better than traditional, centralized banking, the Cryptoverse just found more examples in the U.S. and Lebanon.
First, the U.S.-headquartered banking giant Bank of America (BoA) froze the accounts of ex PayPal Chief...
Bank of America Shuts Account of Former PayPal CFO, Without Any Explanation
18.11.2019
In a quite shocking event, Bank of America, one of the leading commercial banks in the world, closed an account of former PayPal CFO and Sequoia Capital partner Roelof Botha, and that too, without giving any explanation. While this comes as a surprise to many, there have been similar instances...
Bank of America Ices Ex-PayPal CFO’s Account, ‘Did You Buy Any Bitcoin?’
18.11.2019
Karma? Ex-PayPal CFO has his bank account arbitrarily closed, crypto community thinks it is because of buying BTC
IBM Teams Up With Bank of America to Create Cloud Technology for Financial Services
6.11.2019
In a development that is surely going to have far-reaching ramifications for the banking and financial services industry, International Business Machines (IBM) announced today that it had created a financial services centric cloud technology in partnership with Bank of America. It is a significant...
Blockchain-Shy Bank of America Quietly Pilots Ripple Technology
17.10.2019
Bank of America, the second-largest U.S. bank, has discreetly tested out Ripple’s distributed ledger technology – and may be planning to do more with it
Bank of America Is Now Hiring in Blockchain, Not Just Filing Patents
11.10.2019
Bank of America has begun hiring for blockchain positions, the first indicator that the bank plans to do much else with the tech besides filing patents
Bank of America’s Job Posting Hints It Hired a Dedicated Ripple Specialist
10.10.2019
Bank of America’s job posting suggests Ripple hook-up incoming
Trump Pressures Fed for More Rate Cuts as Mega Banks Drain the Balance Sheet
2.10.2019
U.S. President Donald Trump is pressuring the central bank to cut interest rates even further as a spike in oil prices has offset the Federal Reserve’s ‘normalization’ tactics like rate-cutting and overnight repos. Additionally, the mega bank JP Morgan Chase (JPM) is being blamed...
Bank of America Joins R3’s Marco Polo Blockchain Global Trade Network
20.9.2019
Bank of America follows in the footsteps of Mastercard to join the Marco Polo blockchain network