News
Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, NFTs, Web3 and crypto regulation.
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Banks News
While one of the goals of cryptocurrencies is to render traditional banking obsolete, banks as a financial institution still play a critical role in the advent and adoption of the emerging crypto economy in two ways.
Firstly, outside of a physical cash exchange for cryptocurrency, banks provide the fiat bridges to cryptocurrency markets. Without them, the influx of capital and interest in the blockchain industry would be nowhere near the magnitude it is today.
Secondly, many of the world’s leading banks are researching and, in some cases, developing their own central bank digital currencies, or CBDCs, which aim to secure hegemony in the digital asset space largely in response to the growth of the crypto economy.
As digital finance evolves before our eyes, banks as a commonplace financial organization may change drastically in their role and purpose in society — even if it leads to obsolescence.
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Morgan Stanley reportedly plans to enable cryptocurrency trading on its E*Trade platform by 2026, marking a deeper push into digital assets amid a shifting US regulatory landscape.
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Crypto projects may ditch the open-source model to protect their ideas, but critics warn that the costs of closed code still outweigh the benefits.
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While the existing financial system is slow and expensive, crypto apps already allow people to send money instantly and cheaply, Eric Trump stated.
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An estimated 65% of European citizens are seeking a single application to manage their banking, savings and cryptocurrency investment, according to Bunq’s research.
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Bitcoin adoption may accelerate after the US Federal Reserve eased restrictions on banks engaging in crypto activities, opening the door for institutional participation.
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The Fed is rescinding its supervisory letter from 2022 that called for notification in advance of planned or ongoing crypto-asset activities.
11305 - Explained
Understand how quantitative easing works, its pros and cons, and its effects on global markets and crypto.
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The Financial Times reports that Tether will fork out $1.5 billion, Softbank Group will add $900 million and Bitfinex will put in $600 million to a new crypto acquisition company, 21 Capital.
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Coinbase confirmed it is considering applying for a US federal bank charter amid moves by crypto firms to integrate with the traditional financial system.
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Major crypto firms, including Circle, BitGo, Coinbase and Paxos, are exploring bank charters amid evolving US stablecoin regulations, according to The Wall Street Journal.
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The Bank for International Settlements warns that crypto and stablecoins may destabilize finance and widen inequality, urging stronger regulation in response.
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The exact nature of the alleged probe remains unclear, though Homeland Security’s El Dorado Task Force primarily targets international money laundering and financial crimes.
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Rising systemic risks and distrust in the Federal Reserve could push investors toward Bitcoin as a safe haven.
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OKX and Standard Chartered launched a pilot letting institutions use crypto and tokenized money market funds as collateral, starting under Dubai’s virtual asset regulations.
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