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Nifty News: Metaverse bank robberies, Trump NFT biz prefers crypto over cash, and more

17.7.2023
The Bank of America’s metaverse trains staff on resolving customer disputes or helps them relax by riding a virtual unicorn

Bank of America Faces Scrutiny After Coinbase User Alleges the Bank Closed His Account Over Bitcoin Transactions

15.7.2023
Bank of America has come under scrutiny after a Coinbase user claimed that the bank closed his account over Bitcoin transactions. Coinbase CEO Brian Armstrong quickly addressed the issue, asking other users if they have encountered the same problem with Bank of America. Coinbase’s CEO Raises...

Coinbase CEO Brian Armstrong Asks Twitter Followers if Their BofA Accounts Were Closed Because of Crypto Transactions

13.7.2023
The Coinbase CEO created a Twitter poll posing the question, and a whopping 9% of respondents said “yes.”

The High Rate Environment — Bank of America Faces Paper Losses Exceeding $100 Billion

4.7.2023
Following the aftermath of the United States’ three major bank collapses, several market observers argue that the banking crisis in the country persists. Bank of America has recently garnered significant attention, with the Federal Deposit Insurance Corporation (FDIC) reporting that...

Nigeria Currency Presently Undervalued Says Bank of America Analysts

4.7.2023
According to Bank of America analysts, the Nigerian currency is currently undervalued and will likely end the year trading at around NGN680 per dollar. The analysts assert that higher oil revenues and a liberalized import regime will likely see Nigeria record current account surpluses in the medium...

Bank of America Forecasts Transformative Role of Tokenization in Finance

2.7.2023
According to a recent research report by Bank of America (BofA), tokenization can revolutionize financial and non-financial infrastructure and financial markets in the next five to 15 years. The report highlights the transformative power of tokenization and its wide-ranging implications...

Tokenization Is Likely to Transform Infrastructure and Financial Markets: Bank of America

29.6.2023
Implementation of blockchain technology will accelerate as the opportunity cost of uncaptured efficiencies increases, the report said

Crypto Market Regulatory Uncertainty Overshadows Blockchain Development: Bank of America

19.6.2023
The bank said it expects blockchain infrastructure and tokenization to transform financial and non-financing infrastructure and markets over the next five to 10 years

Bank of America Predicts Milds Recession After Fed’s Tightening Action

6.6.2023
Bank of America is predicting a mild recession will happen during the last two quarters of 2023. Brian Moynihan, CEO of Bank of America stated that this recession will be the consequence of the U.S. Federal Reserve tightening actions in order to fight inflation, and how this will increase...

Nigerian Central Bank Blasts Naira Devaluation Report — Publication Stands by Its Story

2.6.2023
The Central Bank of Nigeria (CBN) said on June 1 that the report claiming it had devalued the local currency to N631 per dollar “is replete with outright falsehoods and destabilising innuendos.” The Nigerian publication Daily Trust has said it stands by its story and called on...

Silver Set to Shine: Citigroup Analysts Forecast $30 Value in Next 6-12 Months

25.5.2023
Citigroup analysts foresee a significant increase in silver’s value, potentially hitting $30 per unit within the next 6-12 months, according to the multinational bank’s latest silver assessment. The experts at Citi predict an ongoing decline of the U.S. dollar and anticipate a decrease...

Crypto Market Near-Term Upside Is Likely Capped: Bank of America

23.5.2023
The bank expects digital asset trading volumes to remain subdued, with retail investors remaining on the sidelines

Investors Seek Refuge in Cash as Recession Fears Mount, BOFA Survey Reveals

18.5.2023
Investors, plagued by mounting pessimism, have sought refuge in cash, according to a recent survey conducted by Bank of America. The survey highlights a notable 5.6% increase in cash reserves during May, as apprehensive investors brace themselves for a potential credit crunch and a recession....

Bank of America: Threats to US Dollar’s Dominance Largely Domestic — Not BRICS Currency or Chinese Yuan

9.5.2023
Bank of America has warned that the key threats to the U.S. dollar’s dominance are largely domestic, as opposed to competition from other currencies, including a BRICS currency. “U.S. fiscal brinkmanship, with risks for government shutdown, or even worse a default, keeps coming up during debt...

US Central Bank Expected to Raise Lending Rate by 25bps: Experts Predict Final Hike of 2023

30.4.2023
After the most recent increase in the federal funds rate, the U.S. Federal Reserve is set to raise the lending rate by 25 basis points (bps) to 5.25% in three days, according to expectations. A recent poll of 105 economists revealed that 94 of them predict a 25bps rate hike will occur during...

Bank of America Strategist Predicts Gold Could Reach $2,500 per Ounce in 2023

28.4.2023
A Bank of America (BOFA) commodity strategist has postulated that gold, should it continue to flourish in 2023, could pave the way for a climb to $2,500 per ounce. Presently priced at $1,983 per unit, the precious metal remains just shy of the $2,000 threshold. However, if it were to achieve...