Stablecoin Issuer MakerDAO Proposes Additional $750M U.S. Treasury Purchase
The decentralized autonomous organization behind the DAI coin previously purchased $500 million worth of notes and bonds. Source
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Treasury
Crypto Observers Look to Treasury Yields for Cues as Bitcoin Remains Comatose
The leading cryptocurrency by market value fell from $23,400 to $22,000 on Friday in a delayed reaction to issues at crypto-friendly bank Silvergate. Since then, however, both bulls and bears have refused to lead the price action, leaving the cryptocurrency in a narrow range of $22,150-$22,700, CoinDesk data show. Original Source
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US Treasury and White House to Hold Regular Meetings on CBDCs and Payment Innovations – Bitcoin News
On March 1, 2023, Nellie Liang, undersecretary for domestic finance at the U.S. Treasury, delivered a speech to the Atlantic Council in Washington concerning the subject of central bank digital currencies (CBDCs). Liang detailed during her speech that a CBDC is one of several options for “upgrading the legacy capabilities
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2-year Treasury Yield Attains 17-year High amid Sustained Fed Rate Hikes
The 2-year and 10-year Treasury yields rose following the recent 25-basis-points hike. The 2-year yield hit a high not seen since 2006. On Thursday, the 2-year Treasury yield rose to levels not seen in almost seventeen years as investors pondered further Fed rate hikes. The 10-year Treasury yield also surged today
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Top US Treasury Official Says Leaders ‘Actively Evaluating’ Digital Dollar Question
Setting up a digital dollar, she said, “could help preserve the dollar's global role,” and possibly reduce frictions in cross-border transactions. But even if the U.S. doesn’t issue one, she said government officials are exerting influence with U.S. allies toward “responsible development of CBDCs” in other places, noting that 11
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U.S. Treasury Janet Yellen calls for ‘strong regulatory framework’ for crypto activities
United States Treasury Secretary Janet Yellen stressed the importance of implementing a strong regulatory framework for cryptocurrencies during a G20 meeting on Feb. 25. Speaking to Reuters, Yellen said that it was "critical to put in place a strong regulatory framework." She also noted that the United States is not suggesting
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Lido DAO’s Governance Token LDO Jumps on Treasury Proposal
The proposal was submitted by Lido DAO’s financial unit, Steakhouse Financial, and considers four treasury-related proposals, including whether the DAO should sell or stake the 20,304 ether (worth about $30 million) it holds in its treasury, diversify its stablecoin holdings and sell its protocol surplus of staked eth to finance
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Explaining the Disconnect Between Bitcoin and Treasury Yields Post-US Inflation Data
According to Ardern, investors had bought BTC put options, or bearish bets, in the lead-up to the CPI release, which means market makers sold puts and sold bitcoin in the spot/futures market to hedge against the risk of price slide. So, after prices began to rise post-CPI, market makers had
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Flux Finance Launches Lending Token Collateralized by U.S. Treasury Debt
Decentralized finance (DeFi) protocols like Flux rely on smart contracts instead of middlemen to provide financial services, such as lending and borrowing, to users. On the other hand, yield farming refers to users getting rewarded with a project's tokens for providing liquidity to that project. Source
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UK is ‘likely’ to need digital currency, says BoE and Treasury: Report
The Bank of England (BoE) and Treasury believes the United Kingdom is likely to need to create a central bank digital currency (CBDC) by 2030, according to a Telegraph report on Feb. 4. The "digital pound" roadmap is set to be introduced next week, a government source told the newspaper. Deputy
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