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Thailand's Commercial Bank SCB Terminates Deal to Acquire BitKub Crypto Exchange

Siam Commercial Bank (SCB), the oldest commercial banking institution in Thailand, has announced the effective termination of its proposed deal to acquire the BitKub exchange. According to the press release shared by the banking firm, the plan to terminate the deal was circumstantial and approved by the company’s board of directors.  The deal was first … Continue reading Thailand's Commercial Bank SCB Terminates Deal to Acquire BitKub Crypto Exchange

Digital Euro Would Not be Used for Commercial Purposes: Christine Lagarde

Christine Lagarde, the President of the European Central Bank (ECB), has given her word that the proposed Central Bank Digital Currency (CBDC) for the region dubbed the Digital Euro will not be used for commercial purposes.  Speaking at an event in Frankfurt on Wednesday, Lagarde reiterated that the ECB is not designing the Digital Euro … Continue reading Digital Euro Would Not be Used for Commercial Purposes: Christine Lagarde

Tether Boosts US Treasury Holdings Behind USDT, Further Reducing Commercial Paper

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Tether Eliminates All Commercial Paper Holdings to Zero

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Deposit Coins May Be the Best Blockchain Option for Commercial Banking

JPMorgan Chase and Oliver Wyman, which is a corporation that specializes in consulting, worked together to do research on the potential applications of blockchain technology in commercial banking. The subsequent steps were for the two businesses to publish their findings in a report on February 9th, which was then made available to the entire public. … Continue reading Deposit Coins May Be the Best Blockchain Option for Commercial Banking

MakerDAO Votes to Bring Another Commercial Bank Into Its Ecosystem

The cryptocurrency lending platform MakerDAO is holding a vote on a new proposal to include another commercial bank into its ecosystem. This would improve the relationship between conventional finance and decentralized finance (DeFi). According to the announcement made in the governance forum of MakerDAO, the Florida-based commercial bank Cogent Bank is considering making a contribution … Continue reading MakerDAO Votes to Bring Another Commercial Bank Into Its Ecosystem

Worldcoin Announces Circulating Supply Update and Sales to Trading Firms

In a recent announcement on the Worldcoin blog, it has been revealed that World Assets Ltd., a subsidiary of the Worldcoin Foundation, plans to sell WLD tokens from the World Assets treasury to meet the growing demand for orb-verified World IDs and support the expansion of the Worldcoin network. The majority of the currently circulating … Continue reading Worldcoin Announces Circulating Supply Update and Sales to Trading Firms

Israeli Central Bank Official Embraces CBDC Competition with Banks for Economic Growth

Israeli central bank official, Andrew Abir, sees the introduction of the digital shekel as a catalyst for technological advancements that will drive competition in the banking sector. He acknowledges the ongoing efforts to increase competition in the Israeli banking industry and states that there is still a long way to go. Abir notes that public … Continue reading Israeli Central Bank Official Embraces CBDC Competition with Banks for Economic Growth

Why Facebook's Libra Is Not A Real Cryptocurrency

First of all, the Libra white paper does not mention anything about the United States. There is not a single reference to the dollar, US regulatory system or legal structure. This is ironic because the founding members of Libra come from an American company. In the past, Soros sponsored hedge funds had caused trouble in … Continue reading Why Facebook's Libra Is Not A Real Cryptocurrency

Bitfinex and Tether's Appeal Rejected by New York Judge

Earlier this year, the New York Attorney General’s office has made allegations against Bitfinex of using up Tether’s cash reserves in April 2019. The accusations were made regarding the cryptocurrency exchange of losing $850 million, and thereafter taking funds from Tether’s reserves to cover the loss.  The NYAG office started to investigate iFinex Inc, the … Continue reading Bitfinex and Tether's Appeal Rejected by New York Judge

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