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A weaker dollar often becomes a tailwind to risk assets, including bitcoin, as occurred in the second half of 2020 and early 2021. The greenback is a global reserve currency, playing an outsized role in global trade and non-bank borrowing. When the dollar strengthens, it causes financial tightening worldwide, disincentivizing
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Michael Barr, vice chair for Supervision at the Federal Reserve, called for stronger stablecoin policies in the U.S. to protect investors and set up guardrails designed to address pressing issues. Speaking at the 7th Annual D.C. Fintech Week, Barr pointed to strong interest from stakeholders regarding a framework to regulate stablecoins
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Tether Holdings, the issuer of the world’s largest stablecoin by market capitalization, Tether (USDT), is reportedly preparing to update the frequency of releasing its reserve data reports.Paolo Ardoino, Tether’s chief technology officer and incoming CEO, disclosed that the firm plans to publish reserve data in real-time in 2024, Bloomberg reported
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Stablecoin issuer Tether will publish real time data on the reserves backing USDT, the industry's largest dollar-pegged stablecoin, according to a Bloomberg report. Source
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Federal Reserve Governor Michelle Bowman recently expressed skepticism about the unique benefits of a U.S. CBDC over other financial alternatives at a Harvard Law School roundtable discussion. During a recent roundtable discussion at Harvard Law School, Federal Reserve Governor Michelle Bowman voiced her skepticism regarding the practicality of a U.S. central
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Following the September meeting, the 10-year Treasury yield had risen to approximately 4.66% as of October 10, reflecting the expected rate increases that policymakers had indicated earlier. Federal Reserve officials have opted to maintain their cautious approach to monetary policy, leaving interest rates unchanged during their September meeting. Minutes from the
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The Federal Reserve Banks of Boston and New York published a staff report on Sept. 26 comparing stablecoins, such as Tether (USDT) and USD Coin (USDC), to money market funds. Key findings in the report include the observation that stablecoins and money market funds follow similar patterns during runs and
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The pause in rate hikes had been overwhelmingly expected by market participants, who will now begin focusing on the U.S. central bank's next policy meeting in November. Source
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Federal Reserve governor Philip Jefferson has won confirmation from a majority of members of the United States Senate, placing him in position to become the Fed's next vice chair.In a 88-10 vote in the U.S. Senate on Sept. 6, Jefferson won a majority of support needed for his confirmation as
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On-chain data shows the Bitcoin exchange reserve has shot up during the past day, indicating that more drawdown may be coming for
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