Big Banks Turning Bullish on Bitcoin Should Have You Worried
What an October it was for Bitcoin. The number one cryptocurrency by market cap has seen a 30% rise in its price over the last four weeks, making a 17-month high in the process. Even more impressive is how Bitcoin managed to shrug deteriorating macro-factors to achieve this. Source: BTCUSDT on TradingView.com This is mostly […]
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Daily foreign exchange market volumes have shrunk for the first time in 15 years, according to the Bank for International Settlements (BIS). Banks are increasingly becoming worried as the BIS, which is owned by central banks, warns them of impending financial stability risks. On the other hand, the bitcoin price continues to rise, reaching its highest....
As the Chinese government is turning toward researching and exploring possible applications of blockchain technology, the country’s big banks are increasingly hiring experts and developers to keep up with digitization and a technology-driven landscape. Having included blockchain development in its latest 5-year plan, the Chinese government’s efforts to embrace FinTech also sees the country’s central bank, the People’s Bank of China (PBOC), explore and research the possibility of introducing its own digital currency. The agenda is contrary to the usual notion of central banks being late to....
Christine Lagarde, chief of the International Monetary Fund (IMF) and finance minister under former French president Nicolas Sarkozy, said this week that banks don't have much to fear from bitcoin or the blockchain. The Financial Times reported today that, while speaking at a conference in New York City, Lagarde said attendees worried that the banking industry could be altered or rendered obsolete by the blockchain should "pause for a second". "Many of you have heard about not only bitcoins but blockchains and that unbelievable technology that underlies the bitcoins of this world at the....
Ethereum has been struggling to match the bullish price action seen by Bitcoin as of late, which has led it to consolidate around $380 The past couple of days have been no exception, and the cryptocurrency has yet to gain any bullish momentum despite BTC pushing against $14,000 It remains unclear as to when there will be an impetus for investors to rotate capital away from BTC and into ETH Once this does occur, however, […]
U.S. banks have been taking the plunge into crypto. The rising popularity of the crypto market has seen more demand from banks’ customers for more exposure and although banks are prohibited from directly maintaining self-custody of cryptocurrencies, they are turning to third-party solutions to gain exposure. The latest in the long line of banks rolling […]