Bitcoin mining still has a bad reputation among politicians and in the mainstream media due to its large energy consumption. However, the Bitcoin Mining Council, initiated by Michael Saylor, tries to ...
Tag: Banks
Bradesco, One of Brazil’s Largest Banks, Launches Tokenized Credit Notes in Blockchain Pilot – Finance Bitcoin News
Bradesco, one of the largest banks in Brazil and the third biggest in all of Latam, has entered the cryptocurrency world by issuing its first tokenized credit notes. The operation, carried out in part...
Bank of Thailand To Legalize Virtual Banks by 2025 To Boost Economy
By the end of 2023, applications will be ready for virtual banks to get licensed. By the year 2024, the Bank of Thailand plans to have issued three distinct licenses. The Bank of Thailand has announce...
First Virtual Banks By 2025 From Bank Of Thailand
The announcement that the Bank of Thailand intends to initiate the very first transaction in the country via virtual banking was made by the institution. According to the findings of a research conduc...
Why central banks should not go down the path of…
Central bank digital currencies (CBDCs) are not worth the work and resources required to implement them, says former senior advisor to the Bank of England. In a Financial Times article published today...
Bank of Thailand to allow first virtual banks by 2025
Bank of Thailand (BOT) has disclosed plans to allow virtual banks to operate in the country for the first time. Financial firms will be able to provide services by 2025, a Bloomberg report shows. The...
90% of central banks are working on CBDC projects, thus it should be based on XRPL, according to Ripple
Join Our Telegram channel to stay up to date on breaking news coverage 90% of Central Banks, according to Ripple, are currently actively creating their own CBDCs. The company thinks XRPLedger can prov...
Bank for Central Banks Floats Ways to Contain Crypto, Including Ban
After a series of blowups in the crypto industry, the Bank of International Settlements is exploring de-risking policies for central banks, with a ban on crypto activity one potential option. Economis...
Big banks set aside $4 billion for a recession. Investors are more optimistic: Morning Brief
This article first appeared in the Morning Brief. Get the Morning Brief sent directly to your inbox by signing up here. Saturday, January 14, 2022 Today’s newsletter is by Myles Udland, Head of ...
US Banks See Customers Demanding Higher Yields on Deposits
(Bloomberg) — The country’s two largest banks just put rivals on notice: they’re finally prepared to pay out more to savers demanding higher yields on their deposits. Most Read from Bloomberg Af...
Take profits on Starbucks after its huge run, and check out these 3 other stocks
In Friday’s “Morning Meeting,” we dug into our inbox and found an excellent question raised by a member of the Investing Club. Starbucks – like Halliburton – has had a nice run latel...
Ignoring digital assets would be like sticking with paper over computers, BNY Mellon CEO says
BNY Mellon is committed to continue exploring the digital asset space, albeit cautiously. CEO Robin Vince said on an earnings call today that digital assets are the bank’s “longest-t...
Thailand Open Doors for Virtual Banks to Operate by 2025
BOT plans to allow the nation’s first virtual banks to provide services by 2025. Thailand issued the ‘Consultation Paper on Virtual Bank Licensing Framework.’ BOT had already laid down the licensing f...
Citigroup’s fourth-quarter profit declines by 21% as bank sets aside more money for credit losses
Citigroup said it had identified the cause of the flash crash and corrected the error “within minutes.” Jim Dyson | Getty Images News | Getty Images Citigroup said fourth-quarter net incom...
Bank of America (BAC) Q4 earnings 2022
Brian Moynihan, CEO, Bank of America Scott Mlyn | CNBC Bank of America reported fourth-quarter results on Friday that showed higher interest rates helped the Wall Street giant make up for a sharp slow...
JPMorgan Reports Earnings Friday. Here’s What to Expect.
JPMorgan Chase will be one of the first big banks to report fourth-quarter 2022 financial results on Friday, and Wall Street expects a mixed bag. Revenue at the bank is forecast to swell to $34.5 bill...
Cryptocurrency Exchanges Still Fighting Private Banks for Right to Open Bank Accounts in Chile – Regulation Bitcoin News
The conflict between banks and cryptocurrency exchanges in Chile is still developing, as some banks are reticent to serve this kind of institution. A new report prepared by exchanges reports that most...
Citigroup Reports Earnings Friday. Here’s What Wall Street Expects.
Citigroup is in the midst of a yearslong turnaround. On Friday, Wall Street will see how successful the bank’s efforts have been. Like most of its peers, Citigroup (ticker: C) is expected to post a dr...
JPMorgan Chase (JPM) earnings 4Q 2022
Jamie Dimon, CEO of JPMorgan Chase, testifies during the Senate Banking, Housing, and Urban Affairs Committee hearing titled Annual Oversight of the Nations Largest Banks, in Hart Building on Thursday...
Bank of America Posts Earnings Friday. What Wall Street Expects.
Higher interest rates are expected to drive up Bank of America ‘s fourth-quarter revenue, even as the bank is projected to see a drop in profits. Bank of America (ticker: BAC) is forecast to post reve...
JPMorgan Chase shutters student financial aid website Frank
Dimon said in June that he was preparing the bank for an economic “hurricane” caused by the Federal Reserve and Russia’s war in Ukraine. Al Drago | Bloomberg | Getty Images JPMorgan ...
Crypto Banks Are Most In Debt To Themselves
Join Our Telegram channel to stay up to date on breaking news coverage The collapse of several crypto firms in the last year because of the plummeting digital asset prices has posed a challenge to the...
Powell reiterates Fed is not going to become a ‘climate policymaker’
Chair of the Board of Governors of the Federal Reserve System Jerome H. Powell participates in a panel during a Central Bank Symposium at the Grand Hotel in Stockholm, Sweden, January 10, 2023. Claudi...
Wells Fargo, once the No. 1 player in mortgages, is stepping back from the housing market
Charles Scharf, chief executive officer of Wells Fargo & Co., listens during a House Financial Services Committee hearing in Washington, D.C., U.S., on Tuesday, March 10, 2020. Andrew Harrer | Blo...
up to 3,200 employees laid off this week
People enter the Goldman Sachs headquarters building in New York, U.S., on Monday, June 14, 2021. Michael Nagle | Bloomberg | Getty Images Goldman Sachs is laying off fewer employees than feared, but ...
Metropolitan Commercial Bank to close crypto vertical
Metropolitan Commercial Bank’s holding company will exit its crypto asset vertical, pointing to the shifting regulatory environment for banks involved in crypto, developments in the industry and busin...
Top 4 US banks reporting quarterly earnings this week
The 2023 earnings season starts with four major US banks reporting quarterly earnings this week. In light of the Federal Reserve’s tightening of financial conditions, it is interesting to see the impa...
The Stock Market Had a Great Start to 2023. Earnings Season Could Be a Problem.
Text size This coming Friday marks the start of fourth-quarter earnings season, with Jamie Dimon’s JPMorgan Chase helping to kick off the festivities. Ting Shen/Bloomberg Investors got their Goldilock...
What is institutional DeFi, and how can banks benefit?
Financial services institutions and banks have increasingly engaged with Web3 since 2020. This is also true within institutional decentralized finance (DeFi), as several potential use cases have emerg...