“The Australian Treasury’s token mapping exercise is one of the most detailed and thoughtful papers we have seen on the topic, and it sets a strong foundation for their forthcoming draft rules for cry...
Tag: Reserve
Federal Reserve To Pause Interest Rate Hikes This Month, Forecasts Banking Giant Goldman Sachs: Report
US financial titan Goldman Sachs reportedly believes that the Federal Reserve will not raise interest rates this month following the high-profile collapses in the banking sector. Goldman Sachs’ chief ...
Federal Reserve will re-examine its own oversight of Silicon Valley Bank
Ad The Federal Reserve Board announced that it will lead a review of its own supervision of Silicon Valley Bank (SVB), according to a statement on March 13. Fed will look into its own regulation Vice ...
Silicon Valley Bank’s troubles put Circle’s $3.3b USDC reserve at risk
Circle’s USDC, the second-largest stablecoin with a market capitalization of $43b, has been hit by the collapse of Silicon Valley Bank (SVB). On Friday, regulators in California placed the bank under ...
Circle’s USDC Reserve Exposure and Potential Risks
Circle is one of the largest issuers of stablecoins, with USDC being the second-largest stablecoin in circulation. As of January 31, 2022, the circulating supply of USDC was $42 billion. Stablecoins a...
Circle’s USDC Reserve Mishap Leads to Massive Sell-off
In May 2021, Circle, a fintech company that offers payment and trading solutions, revealed that it had discovered a massive discrepancy in its USDC reserves. Silicon Valley Bank, which was responsible...
US Federal Reserve to Create Cryptocurrency Team Amid Concerns Over Unregulated Stablecoins
The US Federal Reserve is taking steps to address the fast-evolving cryptocurrency industry. The central bank has announced that it is creating a specialized team of experts to monitor developments in...
U.S. Federal Reserve Creating ‘Specialized Team of Experts’ on Crypto, According to Vice Chair
The top regulatory official of the Federal Reserve says that while crypto assets can potentially transform the financial system, the technology still requires appropriate guardrails. In his speech at ...
Federal Reserve Setting Up New Squad of Crypto Specialists
“While crypto assets are hyped as decentralized, there has been an emergence of new, quite centralized intermediaries that are either not subject to or not compliant with appropriate regulation and su...
Federal Reserve Takes Bold Move to Protect Banks from Crypto with Enhanced Guidance and Supervision
In recent years, the rise of cryptocurrency has caused a lot of excitement and controversy in the financial world. While some see it as the future of money, others warn of its potential dangers, parti...
Regulator Warns Crypto Investors Against “Proof Of Reserve” Reports, Says Can’t Be Trusted
While the intervention of regulators in the crypto industry could sometime seem unnecessary or frightening, it is worth noting that not all regulators are villains, some are just keen on consumer prot...
BlackRock Says Federal Reserve May Continue Hiking Rates
The next Federal Reserve meeting slated to take place between March 21-22. The world’s largest asset manager, BlackRock, has weighed in on the subject of interest rate hikes by the US federal reserve....
Regulators Caution Crypto Investors on “Proof of Reserve” Reports
The Public Company Accounting Oversight Board (PCAOB) has cautioned investors about relying on “proof of reserve” reports. The PCAOB emphasized these reports are not audits and do not follow any speci...
Crypto Sector’s Reserve Reports Can’t Be Trusted, Says U.S. Audit Watchdog
These verifications of assets take a simple snapshot and “do not address the crypto entity’s liabilities, the rights and obligations of the digital asset holders, or whether the assets have been borro...
Judge signs off on Voyager agreement to reserve $445 million after Alameda suit
A federal judge approved a stipulation between Voyager Digital and FTX, which includes an agreement that Voyager will set aside $445 million after an FTX entity sued it for loan repayments. The...
Proof of Reserve – Easing the Cryptocurrency Businesses
Proof of reserves (PoR) is an open auditing procedure for cryptocurrency businesses that offers a frank assessment of the assets held in reserve by the businesses. To ensure the custodian of these ass...
Bitcoin Slips to 3-Week Low as Market Sees Federal Reserve Lifting Rates to 5.65%
If that’s not enough, the market now sees a 70% probability of the Fed raising rates by 50 basis points later this month, a reacceleration of tightening after a brief step down 25 bps in Februar...
BlackRock says the Federal Reserve could hike interest rates to a peak of 6%
Rick Rieder, managing director and chief investment officer of fundamental fixed income for BlackRock Inc., speaks during the Institute of International Finance Annual Membership Meeting in Washington...
Reserve Bank of Australia Unveils Proposed CBDC Use Cases – Featured Bitcoin News
The Reserve Bank of Australia said on March 3 that it has selected 14 digital currency proposed use cases from a large number of submissions obtained from industry participants. An assistant governor ...
Australia’s Reserve Bank launches CBDC pilot.
Central Bank Digital Currencies (CBDCs) continue to grow. The Reserve Bank of Australia (RBA) is the latest entrant to delve into CBDCs’ real-life utility. Central banks worldwide have explored the p...
Voyager agrees to reserve $445m after suit from Alameda Research
Legal • February 27, 2023, 6:06PM EST Published 1 hour and 30 minutes earlier on Defunct crypto lender Voyager Digital agreed to reserve $445 million after the firm was sued by bankrupt trading firm A...
Immutable Reduces Staffs To Prolong Cash Reserve
Join Our Telegram channel to stay up to date on breaking news coverage What – The blockchain firm Immutable is the latest in the industry to dismiss some employees. Why – The negative events within th...
US Regulators and Federal Reserve Issue Joint Warning About Crypto Liquidity Risks – Regulation Bitcoin News
U.S. regulators and the Federal Reserve have issued a joint warning about key liquidity risks associated with crypto assets. However, the regulators clarified that banks “are neither prohibited nor di...
The Federal Reserve System against crypto
The US Federal Reserve System recently issued a warning to banks to be vigilant about the liquidity risk of crypto assets. In recent years, the rise of cryptocurrencies has brought about a significant...
US Federal Reserve denies Custodia Bank’s request for Fed supervision
The United States Federal Reserve has denied a request from cryptocurrency bank Custodia Bank to reconsider its membership application to the Federal Reserve System, while a district court has allowed...
Federal Reserve warns banks about crypto – Here is what to know – Cryptopolitan
The Board of Governors of the Federal Reserve System (Federal Reserve), the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC) have issued a statemen...
Bitcoin Dips Following New Federal Reserve Fears
Bitcoin incurred a bit of a fall at the end of January after it was revealed that the Federal Reserve was going to potentially enforce another small rate hike. Everyone was on edge after the ongoing d...
Caitlin Long’s Custodia Bank receives second rejection from Federal Reserve
The U.S. Federal Reserve announced on Feb. 23 that it had denied a request through which Custodia Bank sought supervision from the government agency. Custodia asked the Federal Reserve to reconsider a...
Federal Reserve Frets $31 Trillion Time Bomb Along With Asia
As the deadline for raising the federal debt limit approaches, Kevin McCarthy (R-CA) said he would lead his caucus in opposition to President Joe Biden’s legislative agenda. Chip Somodevilla/Get...
Banks Are Still Allowed to Service the Crypto Industry, Clarifies Federal Reserve
America’s 3 federal bank regulators had a clarifying message for banking organizations on Thursday: servicing the crypto industry is neither illegal nor discouraged. That said, the institutions – inc...
Jamie Dimon says the Federal Reserve has ‘lost a little bit of control of inflation’
JPMorgan Chase CEO Jamie Dimon said Thursday that the Federal Reserve has lost some control of inflation, but noted the U.S. economy continues to show signs of strength. “I have all the respect ...
Binance Introduces Semi-Automated Reserve Token Management
The company has switched to a “semi-automated” process to govern the reserves that back the tokens it issues. In late January, it was discovered that Binance stored token collateral with user funds in...