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As of June 20, Circle added $2.2 billion of T-bills to the fund, while repos constituted some 90% of the fund’s $24.7 billion in assets, according to BlackRock’s website. The company held an additional $3.5 billion in bank deposits, the “vast majority, over 90%” stored at the Bank of New
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The platform is undergoing a restructuring that includes breaking up its structure into smaller, autonomous units called SubDAOs and investing in yield-generating, real-world assets to boost protocol revenue at a time when demand for crypto lending is modest. Source
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Data has shown that the US Treasury yields fell as the traders and investors expect the Fed to either increase or postpone a rate hike. US Treasury yields fell on Wednesday as the market anticipates the Federal Reserve’s decision on subsequent interest rate hikes. The 2-year Treasury yield fell to 4.656%,
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Assistant Secretary for Financial Institutions at the US Treasury Graham Steele spoke at a Texas conference about digitizing financial services. He focused on Central Bank Digital Currencies (CBDCs) and discussed their potential and consequences. Steele, who oversees
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Privacy and the ability to transact anonymously should be considerations in the design of a digital dollar, a United States Treasury official has said.On June 13 the Treasury Department’s Assistant Secretary for Financial Institutions Graham Steele spoke at a payments-focused conference in Texas about the Federal Reserve’s controversial FedNow system
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However, Steele also noted the possible risks of a retail CBDC, especially the danger of runs. He said the recent U.S. banking turmoil showed “the technology enabling the movement of deposits only getting faster,” which increases the hazard of high-speed, panic-driven movements of funds. A Treasury-led group examining the possibilities
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Stablecoin issuer Circle has loaded its arsenal to fight the ongoing regulatory crackdown on crypto. By July 1, the role of chief legal officer and head of corporate affairs will be filled by Heath Tarbert, a top attorney with a background in all three branches of the United States government.According
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Amid escalating legal cases against prominent cryptocurrency platforms, Coinbase and Binance, U.S. Treasury Secretary Janet Yellen emphasized the need for stronger regulation to safeguard crypto users and investors. Treasury Secretary Janet Yellen made some remarks on CNBC’s
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IRS official Julie Foerster said in April during CryptoX's Consensus event that she could not say when the agency planned to update and clarify the guidance, and that it was looking into other ways of communicating with the industry so that taxpayers can voluntarily comply with the reporting requirement. Source
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Economists predict the US Treasury’s forthcoming debt issuance will hit $1 trillion and may eventually cause economic stiffness. US President Joe Biden’s assent and signing of the bill suspending the federal debt ceiling will trigger new debt issuance. Already, observers expect the Treasury Department to sell $1 trillion worth of debt. On
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