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Gold Prices Poised to Skyrocket as Expert Predicts Fourfold Increase in Demand
22.5.2023
Although gold has been trading below the $2K range since May 16, 2023, Rick Rule, the founder of Rule Investment Media, is confident that the struggling U.S. economy will cause demand for precious metals like gold to skyrocket. In an interview published on May 18, Rule emphasized that...
Banks Will Likely Consolidate Further Into Bigger Giants: Fed's Yellen
22.5.2023
US Treasury Secretary Janet Yellen has weighed in as more banks close shop amid the ongoing banking crisis.
The severe winter that hit the banking industry has sent many banks packing while those still standing battle liquidation issues and crashing stock prices.
During a discussion with finance...
Crypto Biz: Tether flees from banks, Ledger’s backdoor for seed phrases and more
20.5.2023
This week’s Crypto Biz explores Tether’s first quarter audit, Ripple’s partial victory against the SEC, Worldcoin fundraising and Ledger’s controversial recovery service
Bank of Russia Expects Significant Growth in Digital Assets Market
20.5.2023
The Central Bank of Russia predicts an increase in the issuance of digital assets, citing some of their advantages. The monetary authority has published a report presenting the progress made by the growing industry and assessing the prospects for its further development. Russia’s Central Bank...
Study: 40% of Surveyed African Banks See Fintech and Telcos as ‘High Threats’
20.5.2023
About 40% of 153 African banks surveyed by the latest African Banker annual report said they regard “fintechs and telcos as high threats,” while 69% see artificial intelligence as the “most important technology shaping the industry in the near future.” According to...
Banks Not Getting Anticipated Benefits From Rate Hikes, ECB Executive Admits
19.5.2023
Eurozone banks are profitable but the benefits from higher interest rates may be smaller than expected, according to the deputy head of the single currency area’s monetary authority. The official noted that while most of the tightening has been done already, more rate increases are to come. Euro...
Ripple Starts Platform for Central Banks to Issue Their CBDCs
18.5.2023
The firm will also showcase a real estate tokenization product as part of Hong Kong Monetary Authority's e-HKD pilot
There's a growing case for allowing crypto firms to bypass banks
18.5.2023
Making the European Central Bank accessible to payment companies other than traditional banks would allow users to redeem their stablecoins directly for cash
FDIC Chair Criticizes Signature Bank's Lack of Understanding on Crypto Risks
16.5.2023
Amid crashing stock prices, the Federal Deposit Insurance Corporation (FDIC) points fingers at crypto and poor management for Signature Bank’s demise.
Remarking at a US House of Reps hearing, FDIC chair, Martin Gruenberg, attributed Signature’s failure to ignorance of the risks associated with...
Signature Bank failed to understand risks associated with crypto: FDIC chair
16.5.2023
A related report penned down by FDIC Chief Risk Officer cited poor management as “the root cause of Signature Bank’s failure.”
Tether boasts of its financial stability after strong profits, money moved out of banks
15.5.2023
Tether Holdings wants to make sure the world is aware of its positive first-quarter attestation in the face of rumors and criticism
Musk on ‘Massive Incentive’ to Get Money Out of Banks, Dave Ramsey Dismisses De-Dollarization Fears, BTC Network Congestion Eases, and More — Week in Review
14.5.2023
Twitter CEO Elon Musk has shared what he calls a “massive incentive” to get money out of bank accounts, noting “bank depositor flight will accelerate to extreme levels, even for banks that are ‘too big to fail.’” Personal finance coach and author Dave Ramsey, for his part, thinks...
SEC beyond crypto: HSBC and Scotia hit with fines over WhatsApp use
12.5.2023
Both HSBC and Scotiabank have not been very supportive of the cryptocurrency industry's adoption in recent years
‘It’s going to get worse for banks’ — JPMorgan CEO on overregulation
12.5.2023
JPMorgan CEO says the Fed should be less focused on adding more rules and regulations for banks and more on fixing the banking crisis
Federal Reserve's FedNow will integrate with Metal Blockchain
11.5.2023
The integration will allow users to instantly convert cash to stablecoin for use in DeFi protocols
GAO cites exposure to digital assets in exploring collapse of Signature Bank
11.5.2023
Michael Clements said the GAO had reviewed “large deposits from the digital asset space” in considering whether crypto had contributed to Signature’s failure
Economist Peter Schiff Says ‘Nobody’s Money Is Safe in Any Bank’ — Warns of Financial Crises, Depressions
11.5.2023
Economist Peter Schiff expects a lot more banks to fail, warning that “nobody’s money is safe in any bank.” He stressed: “When the Fed sets interest rates too low and prints a lot of money … it unleashes massive inflation, creates tremendous economic imbalances that result in financial crises...
S&P Global attempts to assess crypto assets’ susceptibility to macroeconomics
10.5.2023
The ratings agency looked at five areas of interconnectedness between the crypto ecosystem and traditional finance; its lack of firm conclusions may be telling
Bitcoin trading up 80% at DBS Bank due to crypto crashes in 2022, says exec
10.5.2023
DBS Bank’s crypto trading platform has been attracting more institutional investors due to crypto exchanges that collapsed last year
Hong Kong to Have Tight Crypto Regulations, Head of Monetary Authority Says
10.5.2023
Companies attracted by the plan to turn Hong Kong into a hub for digital assets should expect strict regulations, the region has indicated. Authorities are preparing new licensing rules for service providers working with cryptocurrencies and guidelines for banks interacting with crypto firms....