Regulations governing tokenized deposits and crypto assets are likely to become effective on Jan. 1, 2025, a senior fintech analyst at the South African central bank has revealed. However, according to the analyst, regulators are still trying to understand or learn the risks that come with using distributed ledger technology. Central Bank Considers Appropriateness of Retail CBDC Gerhard van Deventer,…
American venture capital investor and entrepreneur Tim Draper advised founders to keep at least two payrolls worth of cash in Bitcoin (BTC) or alternative cryptocurrencies,in response to the uncertainty created by the collapse of Silicon Valley Bank (SVB). In a March 25 report directed at business founders, Tim Draper stated that Bitcoin is a hedge against a “domino run” on…
Billionaire Barry Sternlicht, chairman and CEO of Starwood Capital Group, has warned that the U.S. economy is going to implode, emphasizing that interest rates have to fall. He further stressed that the economy “will have a hard landing.” Barry Sternlicht on Hard Landing, Economic Implosion The chairman and CEO of Starwood Capital Group, billionaire Barry Sternlicht, discussed the state of…
United States authorities are reportedly deliberating on extending an emergency credit line for banks, “in ways” which may provide First Republic Bank with a time buffer to address its balance sheet concerns, according to people with knowledge of the situation. In a March 26 Bloomberg report citing unnamed sources, it was reported that U.S. officials have not decided on what…
Billionaire Bill Ackman has warned that the U.S. economy is “heading for a train wreck” if the government allows the current banking crisis to continue. “Trust and confidence are earned over many years, but can be wiped out in a few days,” he said. “Hopefully, our regulators will get this right.” Bill Ackman’s Warning Billionaire Bill Ackman, CEO and portfolio…
The famous author of the best-selling book Rich Dad Poor Dad, Robert Kiyosaki, has warned that the Federal Reserve’s continued rate hikes will crash stocks, bonds, real estate, as well as the U.S. dollar. He expects the next crash to be the “$1 quadrillion derivatives market.” Robert Kiyosaki on Interest Rate Hikes, Market Crashes The author of Rich Dad Poor…
Top Stories This Week Coinbase could face SEC enforcement action for ‘potential violations of securities law’ Crypto exchange Coinbase received a Wells notice from the United States Securities and Exchange Commission (SEC) suggesting an upcoming enforcement action. According to Coinbase, the “legal threat” could potentially target its staking program, listed digital assets, wallet or Coinbase Prime services. The exchange’s chief…
Switzerland’s troubled Credit Suisse and its rescuer, USB, are subject to an investigation into whether bankers helped Russian oligarchs evade Western sanctions, according to a media report. Some major U.S. banking institutions are also under scrutiny within the probe initiated by the Justice Department, sources say. Credit Suisse, US Banks Investigated for Suspected Sanctions Violations Favoring Russia’s Rich Switzerland-based global…
The hacker behind the $196 million exploit on lending protocol Euler Finance has returned the majority of the stolen assets, according to on-chain data. In a transaction on March 25, the exploiter returned 51,000 Ether (ETH) worth around $88 million at the time of writing. A second transfer of 7,737 ETH was made on the same day, worth over $13…
This week in coins. Illustration by Mitchell Preffer for Decrypt. Last week’s crypto mega rally slowed this week. Still, many leading coins still posted double-digit gains over the last seven days. The upward price action was escalated by the crisis hitting Credit Suisse, which last Wednesday needed a $54 billion loan from Swiss National Bank to shore up liquidity. By…
