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Bloomberg strategist doubles down on $10,000 bitcoin call, but peers say it’s ‘stupid’

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Bloomberg Intelligence senior commodity strategist Mike McGlone, who previously said bitcoin could fall to $10,000, reiterated his call that bitcoin could still fall below that level, a prospect that several market analysts said would require an extreme macroeconomic shock. In an interview with EllioTrades, McGlone said the crypto bear market may not be over and […]

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Stablecoins Will Not Get Any Deposit Insurance Under GENIUS Rules, FDIC Chief Says

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Stablecoin users will not benefit from any government guarantee of their money once the new US law is implemented to regulate these tokens, the Federal Deposit Insurance Corp. said. (FDIC) Chairman Travis Hill. He also specified that the ban would include protections known as “pass-through insurance,” where financial firms obtain government protection on behalf of

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Banking giant Wells Fargo (WFC) is gearing up to move deeper into digital assets

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Wells Fargo (WFC), one of the largest US banks overseeing $1.7 trillion in assets, has filed a trademark application for a new digital asset-focused platform branded as WFUSD, signaling the bank’s push deeper into crypto and blockchain. According to a Tuesday filing with the United States Patent and Trademark Office (USPTO), WFUSD will offer services

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Binance.US is picking a new leader to help it fight for dominance in a crowded market

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Binance.US, the US subsidiary of the world’s largest crypto exchange, named Stephen Gregory as CEO, installing a compliance-focused leader at the helm at a time when competition among US crypto trading platforms is accelerating. Gregory replaced Norman Reed on March 9, the company said in a statement shared with CoinDesk. He was previously the US

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BTC remains modestly lower at $69,500 after inflation data

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US inflation data met expectations on Wednesday, reinforcing expectations that the Federal Reserve will keep interest rates steady not only at its March 18 meeting, but also likely at the bank’s April meeting. The consumer price index (CPI) rose 0.3% in February, according to a report from the Bureau of Labor Statistics. Economists’ forecasts had

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Binance, PayPal and Ripple join Mastercard’s massive new push for blockchain payments

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Mastercard has launched a new Crypto Partner Program, bringing together more than 85 companies from across the digital asset and payments industries, an effort to connect blockchain technology more directly with the infrastructure that supports global commerce. The program includes crypto exchanges, blockchain developers, fintech companies and banks such as Binance, Circle, Ripple, Gemini, PayPal

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BTC Price Stuck Below $70,000 As Investors Play It Safe Ahead Of US Inflation Report: Crypto Daybook Americas

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By Omkar Godbole (All times ET unless otherwise noted) Bitcoin BTC$69,474.46 fell back below $70,000 as war in the Middle East and US inflation data due later today keep investors cautious. The latest failure to build momentum above $70,000 followed reports that Iran was laying mines along the already troubled Strait of Hormuz, a major

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