The US government is considering the creation of a central bank for cryptocurrencies and “encourages” the Federal Reserve to continue looking into the possibility, the White House said in a statement. The administration led by Democrat Joe Biden will also launch an interagency working group
With the lack of any significant trading volume and volatility, it’s no wonder that bitcoin and most cryptocurrencies are pretty stagnant today. After bitcoin missed the coveted $20,000 mark over the weekend, the asset has remained slightly below it while trading volume has been declining.
Sam Bankman-Fried, founder and CEO of cryptocurrency exchange FTX, revealed that he could donate up to $1 billion to help influence US presidential election campaigns in 2024. “I would say over $100 million. As for how much more of it, I don’t know. It really
Sumitomo Mitsui Trust, one of Japan’s leading banking institutions, will enter the cryptocurrency custody business. The company announced that it will launch a company in partnership with Tokyo-based exchange Bitbank. Being 15% owned by Sumitomo Mitsui Trust and 85% by Bitbank, the company was named
As cryptocurrency markets face possibly another “crypto winter”, some of the industry’s most famous critics have taken the opportunity to add fuel to the fire. One of them is the president of the European Central Bank (ECB). Speaking on the Dutch show “College Tour” on
The Swedish Central Bank argues that cryptocurrencies lack sufficient stability to function as a store of value, medium of exchange or unit of account. Following the many monetary authorities who have been dismissing bitcoin’s potential as cash, the Riksbank, the Central Bank of Sweden, explained
US exchange Coinbase said in a document sent to the US Securities and Exchange Commission that if the exchange goes bankrupt, users could lose all funds and will be treated as “unsecured creditors”. In an earnings report published Tuesday, Coinbase says it holds $256 billion
The International Monetary Fund (IMF) criticized the Central African Republic’s decision to adopt bitcoin as its official currency, as El Salvador did. The IMF insists that adoption poses legal economic challenges not just for the country but also for the region. The IMF said the
The Central Bank of Argentina banned this Thursday night (5) the offer of crypto-assets, including Bitcoin, by financial institutions in the country. The Argentine BC published a statement entitled “BCRA discourages the offer of crypto-assets by the financial system”, but the body of the text
Gucci will start accepting cryptocurrency payments at five American stores later this month, the cities that will receive the initial tests are New York, Los Angeles, Miami, Atlanta and Las Vegas. The brand also plans to extend the move to all of its North American