Bitcoin is a competitor to gold, not the US dollar, reiterates Fed’s Powell

December 5, 2024 Coin Telegraph

US Federal Reserve Chair Jerome Powell also dismissed the idea that people see Bitcoin as a symbol of a lack of faith in the US dollar.

United States Federal Reserve Chair Jerome Powell has reiterated his view that Bitcoin is a direct competitor to gold and isn’t a threat to the US dollar.

“People use Bitcoin as a speculative asset. It’s just like gold, only it’s virtual, it’s digital,” Powell said at The New York Times-hosted DealBook Summit in New York on Dec. 4.

The Federal Reserve Chair has made these comments before, comparing Bitcoin (BTC) to gold during an event hosted by the Bank for International Settlements in March 2021 when Bitcoin was trading at just $58,200.

Cryptocurrencies like Bitcoin are highly speculative, and “they’re not backed by anything,” Powell said at the time.

Crypto Battle Looms at SEC: Trump’s Team Set to Clash With Gensler’s Picks

$1,900,000 To Be Handed To Victims of ‘Free Credit Report’ Scam That Conned 42,849 People

November 28, 2024 The Daily Hodl

Credit

The Federal Trade Commission (FTC) is preparing to send a total of $1.9 million to victims of an alleged free credit report scam. The FTC says 42,849 victims will receive their share of the funds, stemming from a lawsuit that the agency filed against Credit Bureau Center back in 2017. According to the FTC, Credit […]

The post $1,900,000 To Be Handed To Victims of ‘Free Credit Report’ Scam That Conned 42,849 People appeared first on The Daily Hodl.

Crypto Battle Looms at SEC: Trump’s Team Set to Clash With Gensler’s Picks

India Expands Payment Ties With Regional Partners to Strengthen Cross-Border Financial Networks

November 21, 2024 Bitcoin.com

bitcoin.com

India’s expanding payment ties with nations like UAE and Sri Lanka highlight a push for seamless transactions, paired with cautious central bank digital currency (CBDC) advancements. India’s Growing Regional Payment Ties Signal a New Financial Era India is broadening its payment linkages with several nations, including Sri Lanka and the United Arab Emirates (UAE), as […]

Crypto Battle Looms at SEC: Trump’s Team Set to Clash With Gensler’s Picks

Stripe acquires stablecoin platform Bridge for $1.1B: TechCrunch founder

October 21, 2024 Coin Telegraph

Stripe acquires stablecoin platform Bridge for .1B: TechCrunch founder

Acquisition

The deal marks one of crypto’s largest acquisitions, allowing more businesses to deal in stablecoins.

Payment processing giant Stripe has reportedly acquired stablecoin platform Bridge in a $1.1 billion deal, according to TechCrunch founder Michael Arrington.

The deal had been in “advanced stages” from at least Oct. 17, according to reports at the time, which representatives from both organizations did not address.

“This deal is done. $1.1b,” Arrington wrote in an Oct. 20 X post.

Crypto Battle Looms at SEC: Trump’s Team Set to Clash With Gensler’s Picks

Paypal Expands Crypto Reach: 60 Million Venmo Users Now Linked to Moonpay

October 18, 2024 Bitcoin.com

bank

Venmo’s 60 million users can now fund transactions on the Moonpay platform, thanks to a new integration announced by Paypal. U.S. users can use Venmo balances, linked bank accounts, or cards to buy and sell cryptocurrencies through Moonpay, expanding payment flexibility. However, this option is unavailable in New York and Texas, continuing Paypal’s push into […]

Crypto Battle Looms at SEC: Trump’s Team Set to Clash With Gensler’s Picks

Bank Paying $29,500,000 To Americans for Allegedly Bombarding People With Illegal Phone Calls, Demanding Nonexistent Debt Payments

October 15, 2024 The Daily Hodl

bank

One of the largest banks in the US is preparing to hand out $29.5 million to settle accusations that the lender illegally robocalled hundreds of thousands of people. Citibank is accused of making unsolicited, prerecorded calls requesting debt payments to people who don’t even have accounts at the bank. Lead Plaintiff Christine Head claims the […]

The post Bank Paying $29,500,000 To Americans for Allegedly Bombarding People With Illegal Phone Calls, Demanding Nonexistent Debt Payments appeared first on The Daily Hodl.

Crypto Battle Looms at SEC: Trump’s Team Set to Clash With Gensler’s Picks

Cardano hosts first smart contract legally enforceable in Argentina

October 10, 2024 Coin Telegraph

ada

Cardano is host to the first smart contract over which Argentina’s courts have jurisdiction after the country legalized crypto for payments in commercial contracts last December.

Cardano is hosting on its network the first legally enforceable smart contract signed in Argentina and under the jurisdiction of its courts.

The contract is a loan agreement between Cardano ambassadors Mauro Andreoli and Lucas Macchia for 10,000 Cardano (ADA) tokens—worth $3,380—payable in four months at a 10% interest rate.

It’s the first time an Argentine court can enforce full payment in ADA from a Cardano smart contract, Andreoli explained in an Oct. 8 X post.

Crypto Battle Looms at SEC: Trump’s Team Set to Clash With Gensler’s Picks

Russia Pushes for Sustainable BRICS Interbank Networks and Payment Systems

September 24, 2024 Bitcoin.com

bitcoin.com

Russia is pushing to develop independent interbank networks and payment systems within BRICS to boost the bloc’s financial influence. Moscow aims to expand cross-border settlements and the use of national currencies in BRICS trade, as part of a strategy to reduce dependence on Western financial institutions. These efforts have gained attention during Russia’s BRICS presidency, […]

Crypto Battle Looms at SEC: Trump’s Team Set to Clash With Gensler’s Picks

Bank of Russia to Launch Digital Ruble Payment Infrastructure by July 2025

September 16, 2024 Bitcoin.com

Bank of Russia

The Bank of Russia aims to open the payment infrastructure for the Russian central bank digital currency (CBDC), the digital ruble, by July next year. Larger banks will offer digital ruble accounts and services by this deadline, with smaller institutions following later. The initiative seeks to enhance payment efficiency and reduce costs, with retailers also […]

Crypto Battle Looms at SEC: Trump’s Team Set to Clash With Gensler’s Picks

Swift Unveils Plan to Integrate Digital Assets and Currencies Into Global Payment Network

September 15, 2024 Bitcoin.com

bitcoin.com

Swift has unveiled a plan to enable the movement of digital assets and currencies on its global payment network. The initiative aims to integrate regulated digital currencies into Swift’s platform, building on past experiments. “We’re paving the way towards real-world solutions that will enable our members to access and transact with regulated digital assets and […]

payment

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