Tag Archives: United States

The past seven days were marked by considerable declines throughout the entire cryptocurrency market. Almost everything is in the red, with the total capitalization sliding beneath $2 trillion. There’s no other way of putting this – the past week was bad for bitcoin’s price. It was almost all downhill. The cryptocurrency was trading in the range between $61 and $63K last Friday, but things went south quickly as the weekend started. Sunday marked the first big drop where the...

The number of US-based financial institutions looking into launching cryptocurrency services continues to grow, and the latest to join the ranks is Charles Schwab. Nevertheless, giant founded in 1971 expects clearer regulations on digital assets before opening such products to the 32 million brokerage accounts employing its services. Charles Schwab to Get in Crypto? Headquartered in Texas, Charles Schwab is an American multinational financial services firm with over $3...

Brian Brooks, the acting head of the Office of the Comptroller of the Currency (OCC) under Donald Trump’s administration, noted in a Wall Street Journal report today that he would be working as Binance US CEO on May 1, 2021.  Brooks’ Career at the OCC During his tenure as acting head at the OCC, Brooks was friendly toward cryptocurrencies despite Trump’s public dislike for the asset class, especially Bitcoin.  The regulator’s support for crypto assets earned him the title...

With Bitcoin (BTC) gaining widespread adoption globally, the United States government is reportedly in the early stages of developing regulatory guidelines for the popular cryptocurrency and the entire crypto industry. Sources familiar with the matter told FOX Business’ Charlie Gasparino that the upcoming regulation, which will focus on crypto infrastructure and taxation, is being led by the Treasury Department Secretary, Janet Yellen, and her deputy, Wally Adeyemo.  Upcoming...

The exponential growth of bitcoin and the entire cryptocurrency sector has caught the attention of global regulators, noted Kraken’s CEO, Jesse Powell. Speaking to CNBC, the executive warned of potential crackdowns, especially after the threats coming from the US government. Regulatory Crackdowns on the Crypto Industry? The cryptocurrency industry has been on a roll since mid-2020. Led by bitcoin’s massive increase, the explosion of NFTs, the growth of DeFi, and many more,...

Mike Novogratz, a veteran investor, and a huge Bitcoin supporter noted the U.S. is currently in a good economic position. Still, the nation can face a major competitive disadvantage unless it engineers a digital dollar soon. The Importance Of An E-Dollar Novogratz, chief executive of digital merchant bank Galaxy Digital GLXY, underlined the value that a digital dollar could bring to the US. In a Friday interview with MarketWatch, he stated: ”To me it is an existential crisis,...

Shortly after the oldest US-based bank entered the cryptocurrency space, so has done the second-oldest – State Street Corporation. The banking giant with $3 trillion in assets under management will allow the London-based Puremarkets to use its Currenex platform for digital asset trading.  Launched by Puremarkets Ltd., Pure Digital is advertised as an “interbank marketplace for cryptocurrency price discovery and exchange of wholesale risk.”   According to an announcement from...

As nations are dabbling with establishing legislative frameworks on the cryptocurrency industry, several giants have formed a coalition to lobby policy makers and conduct researches to ensure the proper implementation of such rules.  According to a Wall Street Journal coverage from today, the prominent names to participate in the new initiative are the mutual fund behemoth Fidelity Investments, the financial service provider Square, the crypto-focused investment company...

This week was undoubtedly bullish for the entire cryptocurrency market, which came inches away from $2 trillion. This happened as Bitcoin looks to reclaim $60K, Ethereum surged above $2,000, and BNB saw a brand new all-time high. In retrospect, it was up only for the entire market during the last seven days. Bitcoin started trading at around $54K and progressed slowly but steadily through the week. On Monday, the price skyrocketed to above $58K before another leg up Tuesday,...

This week was tough across the board as both cryptocurrencies and legacy markets took a beating. Bitcoin was rejected at $60K and dropped all the way down to $50K, but, fortunately, it found support and is now attempting a recovery.The cryptocurrency started the week trading at around $59K and took a shot at the coveted $60,000 mark but failed. It was all downhill from there as BTC retraced all the way down to $50,000 before finding serious support and bouncing back to where it’s currently...