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Bitcoin
JPMorgan Chase Assumes Control of First Republic Bank Following Seizure by California Regulators
On May 1, 2023, the California Department of Financial Protection and Innovation (DFPI) seized First Republic Bank, placing it into Federal Deposit Insurance Corporation (FDIC) receivership. According to reports, this move came after the…
Bitcoin, Ethereum Technical Analysis: BTC, ETH Start Week Lower, Ahead of Key Economic Events
Bitcoin started the week trading in the red, as markets prepared for an important week of U.S. economic events. On Wednesday, the Federal Reserve is expected to increase rates by 25 basis points, with nonfarm payrolls for April being…
Top Indian Banker Says US Dollar Has ‘Disproportionate Power’ as Reserve Currency; Retracts ‘Biggest…
Uday Kotak, the CEO of Kotak Mahindra Bank, a financial institution based in India, recently expressed his view on the dominance of the U.S. dollar in global financial markets. Kotak stated that the U.S. dollar has “disproportionate…
Jack Dorsey-Backed Bitcoin Legal Defense Fund Supports Open Source Developers in Lawsuit With Craig…
Bitcoin Legal Defense Fund (BLDF) recently delivered on its promise to fund the legal costs of 11 Bitcoin developers that are the target of the self-proclaimed Bitcoin inventor Craig Wright’s lawsuit. According to Alex Morcos, the…
Latam Insights — Steve Hanke Advocates Dollarization in Argentina, Bitcoin City Plans Unclear in El…
Welcome to Latam Insights, a compendium of the most relevant crypto and economic development news from Latin America during the last week. In this issue, economist Steve Hanke calls to dollarize Argentina, Bitcoin City plans are still not…
BRICS to Promote National Currencies Before Issuing Common One
The BRICS bloc is now focused on expanding the use of the currencies of its members, according to the representative of one of them. The establishment of a single currency for the group is not an immediate task at this point in time, the…
‘Evil Crypto’ Can Be Used in Foreign Trade, Russia’s Deputy Finance Minister Says
Cryptocurrency may be bad for investors but it can be useful in international settlements, according to a top government official in Moscow. Russian authorities intend to set up a special committee that would issue permits to operators…
First Mover Asia: Bitcoin, Ether Open Asia’s Trading Week Flat
ALSO: Five CoinDesk journalists offer their takeaways from Consensus 2023. They found an industry still filled with optimism but also realistic about the challenges ahead, most notably, regulatory uncertainty.
US Central Bank Expected to Raise Lending Rate by 25bps: Experts Predict Final Hike of 2023
After the most recent increase in the federal funds rate, the U.S. Federal Reserve is set to raise the lending rate by 25 basis points (bps) to 5.25% in three days, according to expectations. A recent poll of 105 economists revealed that 94…
Ethereum’s Liquid Staking Protocols Attract 400,000 Ether After Shapella Upgrade
Just over two weeks have passed since Ethereum’s Shapella upgrade on April 12, 2023, which occurred at block height 6,209,536, enabling stakers to withdraw for the first time. At the time of the upgrade, slightly over 8 million…