Tether signs MoU to promote crypto freedom in Turkey
Stablecoin giant Tether is eager to learn about the possibilities of introducing new business lines into Turkey’s banking in cooperation with the local crypto firm BTguru. Go to Source
Financial Institutions
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Crypto Voter Backlash: How Biden’s Veto May Have Cost Him the 2024 Election
After a period of intense scrutiny of the cryptocurrency industry, many speculated that the Biden administration had reversed its stance by allowing the U.S. Securities and Exchange Commission (SEC) to approve several spot ethereum exchange-traded funds (ETFs). However, President Joe Biden has vetoed the latest resolution intended to quash the SEC’s crypto asset rules in … Read more
Central banks turn to generative AI for enhanced cybersecurity: BIS
Central banks are increasingly adopting generative AI for cybersecurity, with a BIS report indicating that 71% are already using it and more planning to follow. Go to Source
Over 600 firms reveal billions in combined investment in Bitcoin ETFs
Millennium Management is the largest Bitcoin ETF investor with a $1.9 billion investment. Go to Source
Proposed US Blockchain Integrity Act would ban crypto mixers for 2 years
The bill introduced in the House would impose a fine of up to $100,000 for handling funds from mixers, while the Treasury writes a report. Go to Source
Report Reveals Hundreds of US Banks at Risk of Failure Amid High Interest Rate Environment
Following the dramatic bank failures last year and the recent collapse of Philadelphia’s Republic First Bank last week, an analysis by Klaros Group indicates that hundreds of U.S. banks are at risk of failure. The study reveals that smaller and regional banks are experiencing stress due to burdensome commercial real estate loans and the current … Read more
Nigerian fintechs crack down on crypto, users face account blocks
The Nigerian central bank’s attitude to crypto has been inconsistent in recent years, and the crackdown contradicts a decision taken in 2021 to facilitate crypto account opening. Go to Source
Blockchain will save financial institutions $10B by 2030: Ripple
Among the 300 payment leaders surveyed across 45 countries, 97% believe that blockchain will play a crucial role in faster payment systems within the next three years. Go to Source Powered by WPeMatico
Inflation and Anguish: Outraged Lebanese Depositors Continue to Riot Against Financial Institutions
Amid Lebanon’s financial crisis, significant demonstrations have erupted in Beirut targeting financial institutions. Outraged Lebanese depositors, witnessing their savings vanish, have resorted to smashing bank windows, setting fires, and engaging in riots. Simultaneously, leaders of Lebanon’s central bank face grave allegations of fraud, embezzlement, and political corruption. Lebanese Citizens Left Penniless as Financial Institutions Crumble … Read more
US Banking Industry in Turmoil: A Comprehensive Look at the ‘Great Consolidation’ and Largest Bank Failures of 2023
2023 has been a rollercoaster ride for the U.S. banking industry. The collapse of three major banks has sent shockwaves through the financial world, with their combined assets surpassing the top 25 banks that crumbled in 2008. The following is a closer look at what has triggered a ‘great consolidation’ in the banking sector, a … Read more