Tag Archives: federal reserve

Both parties look forward to partnering on opportunities that support their visions and promote a thriving digital asset ecosystem. Banking corporation Standard Chartered plans to launch digital asset custody services in the Dubai International Financial Centre (DIFC). While the plans are still subject to regulatory approval, Standard Chartered said the new digital asset custody services in Dubai will focus on institutional investors. Also, one of the banking corporation subsidiaries,...

Palantir also revealed that it closed the quarter with $1.62 billion in US Treasury securities. Software company Palantir Technologies (NYSE: PLTR) has sold all the gold bars it acquired in August 2021. The company invested $50.9 million to buy 100-ounce precious metal, which it said will be initially kept in a secure third-party facility in the northeastern United States. At a time when many companies put their money in Bitcoin and other digital assets, Palantir said the gold bars...

Despite the fall off of the US stock futures, there is no doubt that the fight against inflation is yielding a relatively positive fruit in the United States. The US stock futures are seeing a very concerning slump today following the release of the latest inflation figure for the month of April. According to the data from the Bureau of Labor Statistics (BLS), the Consumer Price Index (CPI) for the month of April increased by 0.4% when seasonally adjusted, and by 4.9% over the last 12...

Amid the broader banking crisis, investors are still concerned about the next move of the government in terms of Federal Reserve policy. United States Treasury yields spiked earlier today after fluctuations experienced on Thursday. The yield on the 10-year Treasury went up by almost 5 basis points or 3.407% while that of the 2-year Treasury jumped by 9 basis points or 3.823%. The percentage surge covered up some of the losses encountered in the previous trading day. The Treasury yield...

Amid the unfolding banking crisis and interest rate hikes, Bitcoin has been showing strong resilience attempting another breakout above $30,000. On Wednesday, May 3, the US Federal Reserve announced another 25 basis points rate hike taking the US funds rate to more than 5% for the first time since 2007. In hours after the Fed announced the rate hike, Bitcoin (BTC) made a quick surge of more than 2% taking the price above $29,000. This Bitcoin price surge amid the recovery in the broader...

While inflation may be slowing, Americans are groaning under the direct and indirect impact of the Fed increasing the interest rate. The US Federal Reserve (Fed) has continued raising the interest rate and on Wednesday increased the rate by another 0.25 percentage point, causing worry about the potential impact. The apex agency has been trying to stem a stubborn rise in inflation and has been increasing the rate consistently. The recent increase is the 10th in about a year and is the...

The Federal Reserve announced another small increase to its benchmark rate on Wednesday, bringing it between 5% and 5.25%.  Bitcoin’s price remained relatively flat on the announcement, fluctuating between $28,000 and $28,500.  The increase was largely in line with expectations, with the market only pricing in an 11.8% chance that the Federal Open Markets Committee (FOMC) would keep its rate flat, per the CME FedWatch tool.  The central bank has been increasing its interest...

Bitcoin gained traction not too long ago even though the Federal Reserve announced it was hiking rates another 0.25 basis points. Bitcoin Remains Strong This is proof that many people have restored their faith in the world’s number one digital currency by market cap and are shirking both Federal Reserve and banking concerns to the side. The American economy and the banking crisis the country is enduring at the time of writing would likely cause many standard traders and...

Bitcoin has shown the world just how resilient it can be. Not long ago, the Federal Reserve decided to raise interest rates by another 0.25 basis points. Under normal circumstances, the price of bitcoin would fall, and this time around was no exception as the world’s number one digital currency by market cap dropped from $28K to $26K. Bitcoin Is Still Alive and Kicking However, things didn’t stay there long, and just a day or so later, BTC was back at $28,000 per unit,...

The US Commerce Department’s recent shows that economic growth and GDP have slowed even as Bitcoin struggles to regain $30,000. The price of Bitcoin (BTC) has remained relatively stagnant for about a week as the US gross domestic product (GDP) is slowing. Currently trading at $28,870 according to CoinMarketCap data, BTC has been unable to hit $30,000, last seen briefly on the 19th of April, and not seen in the first quarter of the year. This trend follows the GDP’s slowing in the same...