In September 2024, stablecoin liquidity hit record highs. Meanwhile, JPMorgan analysts predicted further Bitcoin gains, citing October’s historical “Uptober” trend. The FBI made headlines by charging 18 individuals involved in crypto fraud after setting up a fake crypto operation. Economist Peter Schiff warned of impending financial ruin unless the U.S. allows its “phony economy” to…
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We listen to talk after talk about crypto finally achieving asset-class legitimacy, but truly speaking, the encroachment of Wall Street giants into the blockchain space is a double-edged sword. The following is an opinion editorial written by Karel Kubat, Founder of Union Labs. As blockchain enthusiasts, we’ve long championed decentralization, transparency, and democratized access—the 2008…
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Blockchain firm Partior announced on July 12 that it had closed a $60 million Series B funding round led by Peak XV Partners. The investment will be used to enhance Partior’s capabilities, including intraday foreign exchange swaps, cross-currency repos, and just-in-time multi-bank payments. Partior Aims to Integrate Ten More Currencies JPMorgan and Standard Chartered-backed blockchain…
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In a new analysis, JPMorgan has raised concerns about the potential outflow of funds following the possible conversion of Grayscale Bitcoin Trust (GBTC) into an ETF. The banking giant estimates that the conversion could prompt investors to withdraw at least $2.7 billion. The Grayscale Bitcoin Trust, a pivotal force in the previous bull market, has…
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Source: AdobeStock / monticellllo JPMorgan Chase & Co.’s digital token, JPM Coin, currently handles $1 billion worth of daily transactions, Global Head of Payments, Takis Georgakopoulos revealed. Georgakopoulos revealed in an interview on Bloomberg Television that JPM Coin is currently transacted daily, primarily in US dollars. He further emphasized the bank’s commitment to expanding its…
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Digital asset miners are moving to other business ventures including offering high-powered technology services to artificial intelligence (AI) companies to improve earnings. A new report from JP Morgan shows that crypto-based mining firms are expanding their operations to include high-performance computing, reducing their dependency on core primary operations, cryptocurrency…. Read More: Bitcoin Miners Pivot To…
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Financial giant, JP Morgan believes that an approval of a spot Bitcoin (BTC) ETF by the Securities and Exchange Commission (SEC) will not significantly affect the price and adoption of the asset. In a new report, the bank opined that while the community lauds the remarkable progress made by firms on the cusp of a…
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Two JP Morgan strategists have said the U.S. dollar will retain its dominant position even as it is being challenged by alternative currencies such as the Chinese yuan. According to a report, the yuan currently accounts for just 7% of global foreign exchange trade volumes while the greenback is just “shy of record highs at…
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The South African currency’s exchange rate versus the U.S. dollar plunged to a new all-time low of ZAR19.51:US$1 on May 12. The rand’s latest fall came a day after the U.S. ambassador to South Africa accused the country of secretly supplying weapons to Russia. Banking giant JP Morgan said it now projects South Africa’s gross…
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Warren Buffett is not a big fan of Bitcoin, and this position has cost his investment portfolio at least a 320,000% potential gain. Legendary investor Warren Buffett sees no value in Bitcoin (BTC), infamously calling it “rat poison squared.” But data shows that adding Bitcoin to a so-called “rat poison portfolio,” an equally weighted portfolio…
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