Boston Federal Reserve president Eric Rosengren discussed stablecoins in a recent presentation on June 25. Rosengren stressed that stablecoins could be a “disruptor” to prime money market funds and the Boston Fed president remarked that the exponential growth of stablecoins is concerning. Rosengren: ‘We Should Be a Bit Concerned About Stablecoin Markets Growing Very Rapidly’ …
Author archives: Adam Owen
CME Group’s Micro Bitcoin Futures Reach 1 Million Contracts Traded
CME Group’s(Chicago Mercantile Exchange) micro-bitcoin futures have already traded more than one million contracts. This instrument allows institutions and retail traders to invest in the crypto asset at a lower price point of 0.1 bitcoin. The contract has only been available for seven weeks, and demand shows there is still room for new derivatives in …
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Despite BTC’s Price Drop, Bitcoin Held on Exchanges Is 28% Lower Than Last Year
While the price of bitcoin is more than 40% lower than it was 90 days ago on March 29, the number of bitcoin held on exchanges has also been reduced. Last year on the same day in June, 2.79 million bitcoin was retained on crypto trading platforms and a year later roughly 28.67% of the …
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Abrupt Reversal on Crypto Ban Underway in Tanzania As Central Bank Follows President’s Directive
Tanzania’s central bank may now be on the verge of a crypto ban u-turn after the country’s newly installed president issued orders to embrace the nascent industry. In November 2019, the Bank of Tanzania cited local law as a reason for banning digital assets. Now, the central bank says the ban is poised to be …
El Salvador To Buy an Estimated $135,000,000 Worth of Bitcoin
The Central American nation of El Salvador is preparing to give away as much as $135 million worth of Bitcoin to its citizens. This Thursday, the President of El Salvador, Nayib Bukele announced that adult citizens in El Salvador will receive $30 worth of Bitcoin for free after setting up their account on the government’s …
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UK financial watchdog orders Binance to halt ‘regulated activity’ in the country
Binance, one of the world’s largest cryptocurrency exchanges, has been ordered to cease all regulated activities in the United Kingdom following a review of its operations by the nation’s Financial Conduct Authority, or FCA. “Binance Markets Limited is not permitted to undertake any regulated activity in the UK,” the FCA said in an announcement, adding …
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Top 5 cryptocurrencies to watch this week: BTC, ADA, SOL, MATIC, KLAY
The U.S. core personal consumption expenditure (PCE) price index increased 0.5% in May, below market estimates of 0.6%. However, when compared year-over-year, the PCE index surged to 3.4% recording its largest gain since 1991. While the U.S. Federal Reserve expects inflation to be transitory, analysts at BofA differ in their estimation. The bank anticipates U.S. …
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$158,000,000 Worth of Crypto Seized by UK Police in Alleged Money Laundering Scheme
The United Kingdom’s Metropolitan Police (Met) unveils that it has made the largest cryptocurrency seizure in the country worth hundreds of millions of dollars as part of an ongoing investigation related to money laundering. ADVERTISEMENT In a statement, the law enforcement division says it confiscated $158 million worth of crypto assets after receiving reports about …
No Joke – Dogecoin Creator Jumping Back Into Crypto After Eight-Year Hiatus
Dogecoin creator Billy Markus unveils that he’s getting back into crypto after staying on the sidelines for nearly a decade. Markus tells his 425,900 Twitter followers that he bought the meme cryptocurrency Dogecoin (DOGE) using investing app Robinhood. ADVERTISEMENT “I bought Dogecoin after eight years of vowing never to buy crypto again, an hour …
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CME Micro Bitcoin futures surpass 1M contracts as institutional speculation grows
Institutional exposure to cryptocurrencies via derivatives continued to grow in the second quarter, as CME Group’s newly launched Bitcoin (BTC) micro contract received considerable uptick in its first two months of trading. Since launching on May 3, CME’s Micro Bitcoin futures contract has already surpassed 1 million contracts traded, the Chicago-based derivatives market announced earlier …
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Hype is over: How NFTs and art will benefit from each other moving forward
Due to the past nonfungible token (NFT) boom, the crypto and art communities have been collaborating closely — maybe for the first time in history. In both industries, there is a lot of skepticism and misunderstanding. As we make our way out of the NFT bubble, what is expected to come next? This deep dive …
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Litecoin Price Prediction: LTC/USD Price Dumps in $150 and $100
Litecoin Price Dumps in $150 and $100 – June 27The market trading situation of LTC/USD still shows that the crypto’s price dumps in between the levels of $150 and $100 to trade around the value of $126 as of writing. The market’s percentage rate is at about 0.05 percent. Price Dumps in $150 and $100: …
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Cardano (ADA) adds 50,000 new ‘staking’ addresses in just 3 weeks
According to data aggregation platform PoolTool, Cardano (ADA) added more than 50,000 staking addresses in three weeks’ time, reflecting a substantial 8% growth in less than a month. Cardano’s total staking addresses surpassed the 600,000 milestone in early June as the attention around the platform continues to grow. Recent developments Currently, Cardano has a total …
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Regulators in UK, Japan Issue Warnings on Binance Amid Crackdown on Unauthorized Crypto Exchanges
Top financial regulators in England and Japan have independently issued warnings on Binance for offering crypto exchange services to residents of the two countries without being registered with the regulators as required by law. Japanese Regulator’s Warning Japan’s top financial regulator, the Financial Services Agency (FSA), issued a warning notice to Binance Holdings Ltd. and …
Indian Banks Halting Services to Crypto Industry Post RBI Clarification
Several Indian banks have reportedly halted services to customers dealing in cryptocurrencies despite the central bank, the Reserve Bank of India (RBI), informing them that the banning circular is no longer valid. The latest bank to join the fray is IDFC First Bank. IDFC First Bank has become the latest bank to halt services to …
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