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Former Signature Bank Chairman Said the Bank Cut Back on Digital Asset Deposits in Wake of Volatility

16.5.2023
Crypto-friendly Signature Bank “significantly’ cut back on digital asset deposits in the wake of increased volatility and regulators' concerns at the end of last year, said the former chairman and co-founder of the now-shuttered bank. “Unfortunately, a series of truly extraordinary...

Inflation and Anguish: Outraged Lebanese Depositors Continue to Riot Against Financial Institutions

15.5.2023
Amid Lebanon’s financial crisis, significant demonstrations have erupted in Beirut targeting financial institutions. Outraged Lebanese depositors, witnessing their savings vanish, have resorted to smashing bank windows, setting fires, and engaging in riots. Simultaneously, leaders...

Today in Crypto: Samsung Reportedly Partners with Bank of Korea on Offline CBDC Payments, G7 Discussing Crypto, China to Train 500,000 Blockchain Professionals

15.5.2023
Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________... Read More: Today in Crypto: Samsung Reportedly Partners with Bank of Korea on Offline CBDC Payments, G7 Discussing Crypto, China...

In US bank instability, traders are turning to Bitcoin & DigiToads for big gains

15.5.2023
In its recent report, the US Federal Reserve has shared its concerns about the financial stability of the country’s banking sector. Even though inflation eased in the past year, mid-size banks in the US have ended up on the radar of the US central bank over issues like funding liquidity...

MUFG Bank strikes exclusive collaboration with TBT Lab

15.5.2023
MUFG Bank has taken over JPY 600m in the form of shares belonging to JP Universe, as well as LOGSYS. Both of these entities are affiliates of TNT Lab, which is basically a lab engaged in business development and has its eyes on Web3, along with the metaverse. MUFG Bank intends to forge a capital...

Zimbabwe sells millions of gold-backed crypto tokens despite IMF warning

15.5.2023
The Reserve Bank of Zimbabwe’s first gold-backed cryptocurrency sale has been a success

Hedge Fund Mogul Stanley Druckenmiller Warns of ‘Hard Landing’ for US Economy

15.5.2023
Billionaire hedge fund manager Stanley Druckenmiller has a dire prediction for the U.S. economy: a recession is looming, and it’s likely set to hit this June. Druckenmiller’s forecast comes as American consumer spending remains low, and is largely driven by credit card usage. Druckenmiller,...

Biden Appoints New Fed Vice Chair as Fedwatch Tool Shows Slim Chance of Rate Hike at June Meeting

14.5.2023
Investors believe it is highly likely that the target rate will remain unchanged at the June 14 Federal Open Market Committee (FOMC) meeting, following the U.S. Federal Reserve’s decision to increase the federal funds rate by 25 basis points on May 3. As the battle against inflation in...

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...

CBDCs Banned in Florida as Governor Ron DeSantis Signs New Bill

13.5.2023
Florida Governor Ron DeSantis has signed a new bill banning central bank digital currencies (CBDCs) in the state. The bill, dubbed SB-7054, bans the use of a CBDC as money within the state of Florida. It also prohibits the use of CBDCs issued by other governments and calls on other states to...

Inflation in China Down to Lowest Number in More Than Two Years; Analyst Proposes Giving Cash Handouts to Avoid Deflation

13.5.2023
Inflation in China registered an increase of 0.1% year-over-year in April, according to numbers from the National Bureau of Statistics of the country, falling below expectations. Some analysts are already warning about the dangers of deflation, even calling on the Chinese government to deliver cash...

Governor Ron DeSantis Signs Bill Prohibiting Use of Central Bank Digital Currencies in Florida

13.5.2023
On Friday Florida’s governor Ron DeSantis signed legislation that bans the use of a central bank digital currency (CBDC) in the state. Following the bill SB 7054 being signed into law, Florida’s Uniform Commercial Code (UCC) now explicitly forbids the use of a federally adopted CBDC as money....

Job Cuts at Silvergate as Crypto-Friendly Bank Winds Down After FTX Collapse

12.5.2023
Silvergate Capital, the parent company of now-defunct crypto-friendly bank Silvergate Bank, has announced another major layoff that would impact 230 employees. In a recent filing with the Securities and Exchange Commission (SEC), the company said it would have just 80 employees left by the end...

Inflation Expectations of Eurozone Consumers ‘Increased Significantly,’ ECB Says

12.5.2023
Consumers in the euro area have sharply raised their expectations about inflation in the coming months, the European Central Bank revealed. Survey data showing this comes after the monetary authority slowed the pace of its rate hikes last week while indicating that it’s still early for a pause....

European Banking Authority May Veto Large Stablecoins During MiCA Approval Process

12.5.2023
The chair of the European Banking Authority (EBA), José Manuel Campa, has argued that central banks should veto stablecoins if they have fears the private, permissionless blockchains and crypto projects could threaten monetary policy. "Central banks should have the power to veto the widespread...