The Bank for International Settlements (BIS) will heighten focus on experimenting with Central Bank Digital Currencies (CBDCs) this year via its research and development arm and will also launch a new project to monitor stablecoins. On Feb. 7, the Switzerland-based so-called “bank for central banks” announced its Innovation Hub will “increase its focus” on CBDCs in 2023 to improve payment…
Lawyers representing bankrupt crypto broker Voyager Digital have served former FTX CEO Sam Bankman-Fried and other FTX and Alameda Research executives with subpoenas requesting information. The subpoenas have a very wide scope, with Voyager’s lawyers seeking copies of any documents and communication between FTX entities and the Securities and Exchange Commission (SEC) or the Department of Justice (DOJ) according to…
Pacific Investment Management Company (PIMCO) expects the U.S. dollar to “continue to lose its appeal as the safe-haven currency of last resort.” The $1.74 trillion asset management firm added that the USD “is likely to fall further in 2023 as inflation falls, recession risks decline, and other shocks abate.” PIMCO Strategist Warns About USD Pacific Investment Management Company (PIMCO) has…
The United Kingdom is a step closer to launching a Central Bank Digital Currency (CBDC) after releasing a consultation paper explaining the proposed digital pound, which the public has nicknamed “Britcoin.” The 116-page consultation paper was jointly released on Feb. 7 by the Bank of England (BoE) and His Majesty’s Treasury. A technology working paper was also released delving into…
From beer breweries on opposite ends of the globe to aircraft technicians in isolated airports, telecoms infrastructure firm Nokia has been looking for ways to use the metaverse to aid remotely-located workers. Nokia, who many remember as a manufacturer of consumer mobile devices, has since pivoted into developing technology and equipment that “delivers the internet.” Robert Joyce, CTO of Nokia…
When Ordinals launched in January, it caused an uproar in the Bitcoin community as enthusiasts, advocates, and developers argued the merits of putting JPEG on the blockchain. While the heated debate continues, the number of Bitcoin inscriptions using Ordinals has already surpassed 11,000 on Tuesday, according to a Dune report. Ordinals are the latest project aiming to bring NFTs into…
Bank of America is preparing for a possible U.S. debt default, says CEO Brian Moynihan. He is not a fan of eliminating the debt ceiling altogether as some lawmakers have proposed. Meanwhile, Treasury Secretary Janet Yellen says “every responsible member of Congress must agree to raise the debt ceiling.” Bank of America CEO Brian Moynihan on Possible US Debt Default…
The names of two guarantors who signed off on part of Sam Bankman-Fried’s $250 million bail bond will continue to remain a secret for now. A judge has also rejected an agreement that would have permitted Bankman-Fried to use certain messaging apps. Bankman Fried’s lawyers filed an appeal to block the release of the guarantors’ names last-minute on Feb. 7.…
FTX founder Sam Bankman-Fried spent more time lobbying lawmakers in D.C. than any other executive that Blockchain Association executive director Kristin Smith has seen in her 20-year career. So it’s hardly surprising, in the wake of his crypto empire going bust amid claims of fraud and misappropriated funds, that the tone of conversations facilitated by the crypto lobbying group has…
Investment management and advisory firm Goehring & Rozencwajg expects gold to hit record highs this year. “I wouldn’t be surprised to see a $3,000 price this year,” said an executive of the firm. “It’s time for people to want to be bullish on gold.” Gold Heading for ‘Record Highs’ This Year Investment firm Goehring & Rozencwajg’s managing partner, Leigh Goehring,…
