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The New York Federal Reserve has published new rules for counterparties looking to use its money market balancer, casting uncertainty over intentions by stablecoin issuer Circle to use the Fed’s systems.In an April 25 statement, the New York Fed announced adjustments to its guidelines to determine which parties are eligible
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Funds structured as stablecoin issuer Circle’s Blackrock-managed USDC reserve fund “generally will be deemed ineligible” for the New York Federal Reserve’s reverse repurchase program under the new rules. Source
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Binance.US is reportedly closer to acquiring Voyager assets after the UCC secured a deal with the US federal government. Voyager Digital Holdings sees its $1 billion deal with Binance.US move closer to actualization following an agreement with the US government. Yesterday, the bankrupt crypto lender sealed a deal with the federal
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United States Federal Reserve Board governor Michelle Bowman spoke at Georgetown University on April 18 to “offer a perspective” on central bank digital currency (CBDC). The Fed plays an important role in the conversation about CBDC, Bowman said. Her examination of the problems a CBDC might solve and the design
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The researchers also stated that ChatGPT could beat the commonly used models from Google, dubbed BERT along with the classifications based on dictionaries. OpenAI’s popular chatbot system ChatGPT hasn’t failed to surprise people across the world, and once again, it’s out to show its AI prowess. Earlier this month, two new
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The U.S. state of Wyoming has requested to intervene in the case between Custodia Bank and the Federal Reserve System, seeking to defend its framework allowing certain crypto firms to qualify as state-chartered banks.In an April 10 court filing, Wyoming Attorney General Bridget Hill filed a motion to “intervene in
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Investment bank MPS Capital Services has warned that the U.S. economy will be in a recession by year-end. The firm’s strategist predicts that the Federal Reserve will raise interest rates by an additional 25 basis points, warning that the central bank’s monetary tightening “will drag down on the economy.” Strategist’s Recession
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After the March rate hike by the Federal Reserve, economists believe that the recent move by Saudi Arabia and several members of the Organization of the Petroleum Exporting Countries (OPEC) to cut oil production could complicate the central bank’s mission. Additionally, the majority of the market is pricing in another
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Bitcoin (BTC) showed little interest in moving higher at the April 7 Wall Street open as fresh United States macro data boosted bets on further interest rate hikes.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewAnalyst: Fed will keep hiking "until something breaks"Data from Cryptox Markets Pro and TradingView followed BTC/USD as
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Bitcoin (BTC) might have shown strength after successfully defending the $28,000 support amid unfounded rumors regarding Binance, but an interesting development to note is BTC is becoming less correlated to traditional markets after the U.S. Federal Reserve elected to provide emergency liquidity to banks. This change in attitude from the central
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