Financial Markets and Money Warfare... More banks show fear of the economic downturn and unregulated crypto as gold and silver paper prices diverge further from the physical metal prices... Rumors of Ripple settlement echoes across social media...
75% of retailers eyeing crypto payments within 24 months: Deloitte... Three-quarters of United States retailers plan to accept crypto or stablecoin payments within the next two years, according to a new survey published by Deloitte.
Globally connected Central Bank Digital Currencies (CBDCs) – a pipe dream or the future of international payments?... The Payments Association Insights Webinar
Why Elon Musk welcomes a US recession: ‘Bankruptcies need to happen’... Elon Musk believes it would be beneficial for the US economy to go into a recession and that “some bankruptcies need to happen.”
Jamaica Becomes First Country to Make a CBDC Legal Tender... Jamaica’s central bank has officially recognized the “Jam-Dex” central bank digital currency (CBDC) as legal tender, becoming the first country to do so.
Crypto’s 'trial of the century': Ripple case could be decided over just a few words from former SEC official... Following 16 months of intense pre-trial litigation, countless hours in court and over 600,000 documents reviewed by both sides, the case that’s being billed as "the cryptocurrency trial of the century" could all come down to one speech made by a former Securities and Exchange Commission official four years ago.
Jewel Bank granted Bermuda banking and digital asset business licence... Jewel Bank, the global banking platform for the digital asset economy, has received approval from the Bermuda Monetary Authority (BMA) for its combined full bank license and digital asset business (DABA) license. Jewel Bank is Bermuda's first new bank in over twenty years and first digital asset bank. Jewel's services address the core banking, payments, and settlement needs of many of the world's largest global digital asset firms and exchanges, via API or web. As a full license Bermudian bank, Jewel Bank will service digital asset firms (B2B) around the world in any non-sanctioned jurisdiction, as well as the US.
JP Morgan CEO Says More Pain Ahead For Bitcoin, Ethereum, Cardano Investors... The decline of the crypto market has been expected, especially for top digital assets such as Bitcoin, Ethereum, and Cardano. The fall has hit the market hard, especially with the collapse of one of the leading DeFi protocols, the Terra network. However, JP Morgan CEO, Jamie Dimon, believes that it is only beginning. Despite the market is more than 50% down from its all-time high, the bank executive says there are worse roads ahead. JP Morgan CEO Says Brace For Impact Jamie Dimon has not been the best supporter of cryptocurrencies. Nevertheless, the bank which he heads as CEO, JP Morgan, has been easing its stance towards digital assets and has moved forward with various plans to provide its customers with cryptocurrency trading options. With the crypto market and given that there is now exposure to the market to a certain degree, Dimon has come forward to explain that the bank is expecting more decline.
Citadel Securities, Virtu Build Crypto Plan With Brokerages... Citadel Securities and Virtu Financial Inc. are building a cryptocurrency trading platform along with retail brokerages Fidelity Investments and Charles Schwab Corp. The market makers are developing a crypto offering with help from Fidelity and Schwab that would increase access to digital assets, according to people familiar with the matter, who asked not to be identified discussing the private plans. The product, still in its early development, could be available late this year or early next, the people said.
RippleNet Is Actively Used By Curacao’s Top Bank... Top Curacao bank Vidanova has recently revealed on its official website that it actively uses RippleNet in order to message, clear, and settle financial transactions in record time. The bank goes on to explain the full set of use cases that Ripple can provide such as connecting banks, payment providers, and other large financial institutions using its global decentralized network.
Ripple and Lunu partner to enable luxury retailers to accept cryptocurrency payments... Today, Ripple, the leader in enterprise blockchain and crypto solutions, has announced a partnership with Lunu to support the Berlin-based company’s luxury retailers in accepting cryptocurrency as a form of payment in-store and online using Ripple’s Liquidity Hub. Lunu enables high-end and luxury retailers in the UK and Europe to accept crypto payments in-store via Lunu’s point of sale (POS) terminal and online widget. Lunu currently works with customers including Farfetch, Off-White, Browns and Steven Stone. Liquidity Hub will enable Lunu’s customers to accelerate the acceptance of crypto payments by optimising the exchange of crypto assets to fiat in one place at competitive prices.
I was wrong': Treasury Secretary Janet Yellen concedes she misread threat of inflation... The Biden administration acknowledged Tuesday that it was wrong to downplay the threat of rising inflation last year as the White House works to combat rising consumer prices that have hampered Joe Biden's presidency.
‘Fully Integrate Into Financial System’—Bitcoin And Crypto Now Braced For A Massive Earthquake That Could Hit The Price Of Ethereum, BNB, Solana, Cardano, XRP, Tron And Avalanche... Bitcoin and cryptocurrency prices have been treading water over the last month after a huge crypto crash (though some high-profile industry insiders are now warning “crypto winter” has returned).
Evergrande is officially in default.... Here it is! EVERGRANDE IS DEFAULT !
DEFAULT - Evergrande bondholder: “I will never see my money again”... As China Evergrande reportedly begins negotiating creative ways to repay billions owed to offshore bondholders, a paying agent of one of the embattled property giant’s USD-denominated bonds has sent a letter to investors officially confirming default.
Crypto crisis means regulation will come sooner rather than later... With cryptocurrency prices plummeting as central banks start to raise interest rates, many are wondering if this is the beginning of the end of the bubble. Perhaps not yet.
New York just passed a bill cracking down on bitcoin mining — here’s everything that’s in it... Following an early morning vote in Albany on Friday, lawmakers in New York passed a bill to ban certain bitcoin mining operations that run on carbon-based power sources. The measure now heads to the desk of Governor Kathy Hochul, who could sign it into law or veto it.
Exclusive-Musk feels 'super bad' about economy, needs to cut 10% of Tesla staff... Tesla CEO Elon Musk has a "super bad feeling" about the economy and needs to cut about 10% of staff at the electric carmaker, he said in an email to executives seen by Reuters.
See more Financial Updates - June 4th Edition