New Fidelity report flags ‘stark contrast’ between Bitcoin and fiat currencies
Bitcoin’s (BTC) future may “stand in stark contrast to the rest of the world,” asset manager Fidelity Investments predicts. In a recent research piece, “The Rising Dollar and Bitcoin,” released Oct. 10, Fidelity Digital Assets, the firm’s crypto subsidiary, drew a line between Bitcoin and other currencies. Bitcoin “does not correspond to another person’s liability:” […]
Is it Bitcoin’s time to shine? British Pound drops to all-time low against the dollar
On Sept. 26 the British Pound hit a record low against the U.S. dollar following the announcement of tax cuts and further debt increase to curb the impact of a possible economic recession. The volatility simply reflects investors’ doubts about the government’s capacity to withstand the growing costs of living across the region. The U.S. […]
Sri Lanka central bank reiterates crypto warning following protestors seizing president's residence
Amid economic and political turmoil, the Central Bank of Sri Lanka, or CBSL, has warned the public against crypto purchases due to the lack of regulatory oversight. In a Tuesday notice, the CBSL said it has not authorized or licensed any company in Sri Lanka to offer crypto-related services, including exchanges, initial coin offerings and […]
Tether reports 17% decrease in commercial paper holdings over Q1 2022
USDT Stablecoin issuer Tether has reported it cut its reserves allocation to commercial paper investments and increased that of United States treasury bills over the first quarter of 2022. In a Thursday blog post, Tether reported its reserves were “fully backed,” seemingly in an effort to assuage many users’ fears around USDT briefly depegging from […]
'One currency change every generation,' how monetary skepticism spearheaded cryptocurrency adoption in Czechia
Czechia, a country of 10.7 million people in Central Europe, is known for its beautiful capital (Prague), rich history and good beer. Within the last decade, however, one can now add cryptocurrency adoption to that list. In fact, the Trezor wallet, the first cryptocurrency hardware wallet in the world, was invented here in 2014 and […]
Mexico's president rules out accepting crypto as legal tender
President of Mexico Andrés Manuel López Obrador said the country was unlikely to follow in El Salvador’s footsteps by adopting cryptocurrencies like Bitcoin as legal tender alongside fiat. In an Oct. 14 press conference, Obrador, also known as AMLO, said Mexico “must maintain orthodoxy” in its financial management and would not be changing its position […]
Search for fiat alternative ‘perfectly reasonable,’ says StanChart CEO
Bitcoin (BTC) and other cryptocurrencies have a permanent role in financial markets, but other digital assets like central bank digital currencies (CBDCs) or nonfungible tokens (NFTs) could likely outperform crypto, according to Standard Chartered CEO Bill Winters Speaking at a Standard Chartered conference call, Winters echoed the “crypto is here to stay” narrative and said […]