Tag Archives: federal reserve

Peter Thiel – Co-Founder of PayPal and Palantir Technologies – believes the high price of bitcoin indicates that inflation has started shaking the financial network. He opined that investors should not rush to buy BTC when the USD value for a single token is more than $60,000. The Fed Is in a State of ‘Epistemic Closure’ The coronavirus pandemic and the catastrophic economic issues, which it brought became a reason for many governments to initiate controversial financial...

It’s been a very productive week in the cryptocurrency market, but it’s safe to say that most of it was due to the volatile price action during just one of the days – Friday, October 1st. Going back, last Friday, the BTC price was hovering around $43,500, and, in fact, it stayed there for quite some time. This wasn’t so bad, given the overall regulatory scrutiny towards the market and yet another wave of FUD coming from China. The country said that it’s banning the trading of...

Jerome Powell – the active chair of the Federal Reserve – says they have begun studying whether to launch their own digital currency and will soon be releasing a paper on the matter. Possible Digital Currency for the United States Powell confirmed that investigations were underway in an interview with CNBC this Wednesday. “We are working proactively to evaluate whether to issue a CBDC,” said the chairman, “and if so– in what form.” Jerome Powell. Source: TimeHe follows with...

The President of the Federal Reserve Bank of Minneapolis – Neel Kashkari – opined quite negatively on the crypto industry and especially bitcoin. He referred to many digital assets as “garbage” and claimed they are “complete Ponzi schemes.” Kashkari’s Hostile Stance on Crypto During an appearance at the Pacific NorthWest Economic Region annual summit in Big Sky, Mont., the President of the Federal Reserve Bank of Minneapolis – Neel Kashkari – heavily criticized bitcoin and...

The Chairman of the Federal Reserve of the United States, Jerome Powell, said today that the country is working on a publisher’s report on digital currencies. The Fed Chair said that the incoming report would focus on digital payments “broadly.” Per his words, this also includes stablecoins, crypto-assets, and central bank digital currencies (CBDCs). We’re going to address digital payments broadly. It means stablecoins, it means crypto-assets, it means a CBDC. That whole...

Coinbase executives continue to move among the big names in the financial landscape. This month, it was the turn of none other than U.S. Federal Reserve Chairman Jerome Powell. According to Powell’s working schedule for May, the head of the Fed had a face-to-face meeting with the head of the cryptocurrency exchange Coinbase Global Inc. on May 11. Paul Ryan, a former Speaker of the U.S. House of Representatives, was also invited to the event. The meeting lasted half an hour,...

New York Federal Reserve Bank President – John Williams – opined that the rapid development of virtual assets challenges the central banks’ desire to launch their own CBDCs. He advised policymakers to consider how cryptocurrencies would work efficiently alongside physical cash. Crypto Raises Questions for Central Banks John Williams – the president and CEO of the Federal Reserve Bank of New York – reacted to the recent presentation of the former Bank of England governor Mark...

Brett Heath – precious metal company Metalla Royalty & Streaming CEO – opined that crypto ”will lead the charge in the next financial crisis.” Furthermore, he compared the industry to the tech crash of the early 2000s alongside the mortgage collapse in 2008. Crypto Will Cause The Next Crash The head of Metalla Royalty & Streaming warned in an interview for the financial newspaper Kitco News that global cryptocurrency adoption will have a damaging impact on the...

James Bullard – the President of the Federal Reserve Bank of St. Louis – advised that investors should be extra cautious when investing in digital assets. The US banker went further, labeling most of them as ”worthless.” Nonetheless, he revealed that the Fed is looking into launching its own digital coins. Most of The Assets Are Useless In a recent interview with Yahoo Finance, James Bullard – CEO and President of the Federal Reserve Bank of St. Louis – shared his thoughts...

The Chairman of the Federal Reserve outlined that the US will not haste its own digital currency project despite China’s rapid advancements. He revealed that the CBDC approach undertaken by the Asian country will not be effective in the USA. China’s CBDC Won’t Work in the US With the rapidly expanding topic of central bank digital currencies (CBDCs) in countless countries, the world’s largest economy is yet to provide a definitive stance. Although the US dollar remains the...