Bitcoin Custodia crypto bank sues the U.S. Federal Reserve
Cryptocurrency bank Custodia is suing the Federal Reserve Board and the Federal Reserve Bank of Kansas City in today’s federal court action. They have brought charges against them for allegedly “unlawfully” delaying action on the company’s application for a Federal Reserve Master Account. Caitlin Long established the Cheyenne-based business in 2020 under the name Avanti […]
US Federal Reserve increases interest rates causing Bitcoin worries
TL;DR Breakdown: The Federal Reserve increases interest rates for the first time since 2018. Interest rates will increase by 0.25% with a further hike in projection. Increasin rates could drive investors out of risk assets like crypto. The US Federal Reserve is raising interest rates for the first time in the last 4 years. The […]
Ripple ISO 20022 format adopted by FED Reserve
TL;DR Breakdown The Federal Reserve has now planned to adopt the ISO 20022 format for payments. This model is identical to the payment format used by Ripple Labs. The Fed banks will integrate the ISO 20022 format with the Fedwire Funds Service or the FFS. In an intriguing announcement on Monday, the United States Federal […]
Bitcoin now more liquid than global reserve currency
Bitcoin is now more liquid than global reserve currency. The currency has more base money supply than the United Kingdom and Russia combined. Bitcoins have an M1 ( cash, cheques, money you can withdraw in banks) of $300 billion market cap. Bitcoin is more liquid than the global reserve Bitcoin is more liquid than the […]
Federal Reserve Chair looking into the benefits of digital currencies
U.S. Federal Reserve Chair Jerome Powell has indicated a willingness for the Federal Reserve to start issuing digital currencies. Powell indicated that the Federal Bank issuance of the digital currency was a work in progress, indicating that they had already taken initial steps into researching the project and how it would impact the US economy. […]
Digital US Dollar on its way, says Federal Reserve
Crypto fans have long hailed a digital US dollar as the panacea for all the current economic ills. It looks like the United States Federal Reserve has answered the prayers and researching on a digital US dollar. The Federal Reserve Board of Governors is working towards a virtual greenback. A proposal has outlined that US […]
Cleveland Fed president revealed research in potential CBDC
Cleveland Fed president announced that Fed is exploring CBDCs Fed is also exploring various DLT-based technologies and platforms For time being, Fed’s focus is on the functioning of payment system During the session of the 20th Anniversary Chicago Payments Symposium, Cleveland president of the Federal Reserve Bank, Loretta Mester, revealed that they have ongoing research […]
Monumental shift in US Fed inflation policy to benefit crypto, says Ripple CEO
The newly announced US Fed inflation policy will ultimately benefit the crypto industry as per Ripple CEO Brad Garlinghouse. In his latest speech, the Fed Chairman Jerome Powell has said that inflation rising beyond 2 percent is certainly a comfortable scenario. After years of low-interest rates, such a rise can have a profound impact on […]
Bitcoin is just gambling, not real money; investor Jim Rogers
Veteran investor Jim Rogers says that the government will put an end to Bitcoin before it becomes real money and that virtual currencies are just sources of gambling and speculations, Forbes reported today. Bitcoin is no stranger to harsh critics. From Wall Street veteran Warren Buffett to famous Bitcoin critic and gold supporter Peter Schiff, […]
What would happen if people spend $300bn stimulus money on Bitcoin?
According to Kraken if the $300 billion stimulus money were to be spent on buying Bitcoin, Bitcoin would have been the most promising investment asset existing today. Following months of lockdowns, business closures, loss of hundreds of thousands of jobs, and weeks of fierce protests against police brutality, the US economy is finally getting back […]
Stock market is booming despite crisis at home, why the disconnect?
The stock market is not equivalent to the economy, but rarely have we seen a glaring disconnect between the two. The year 2020, however, is an exception, and American entrepreneur and investor, Anthony “Pomp” Pompliano, explains why in his latest episode of Lunch Money. America is in turmoil. Just when everyone thought that the year […]
USD 8 trillion coronavirus fiscal stimulus: Crypto surge triggered
In the wake of the global pandemic, which has led to the coronavirus fiscal stimulus, the US economy is contracting at a rate not seen since the Great Depression of the 1930s since the first quarter of 2020. In just six weeks, a total of 30 million Americans filed for unemployment claims. Meant to soften […]
Bitcoin saving, gold, silver better than Dollar saving – Robert Kiyosaki
Multilevel marketing guru and author of evergreen Rich dad Poor dad published in 1997, Robert Kiyosaki has come out to say that Bitcoin saving, gold, silver is the best way to preserve wealth as against saving American dollars, which is quite common. Making this claim via a Twitter post, the business mogul took a jibe […]
