NFT News by Thebittimes.Com

The potential exists, yet the challenges of attaining financial inclusivity are frequently underestimated, as indicated by a study conducted by the Bank of Canada. A commonly made argument in favor of the adoption of central bank digital currency ( CBDC ) is that it has the potential to enhance financial inclusion . However, the specifics of how to achieve this objective, or even what “financial inclusion ” truly entails, remain largely unexplored, according to a discussion paper from the Bank of Canada. The paper concludes that central banks will confront a series of unfamiliar and nontraditional hurdles in the pursuit of an inclusive CBDC . By “identifying tangible barriers and shedding light on the underlying disparities that often go unnoticed in aggregate statistics,” the authors of the paper identify three dimensions of inclusivity crucial for a universally accessible payment method: financial inclusion , digital inclusion , and practical accessibility...

Despite the so-called FUD, Changpeng Zhao said in reality, the crypto industry has scored a number of massive wins in recent weeks. Binance co-founder and CEO Changpeng ‘CZ’ Zhao has hosed down recent rumors against his firm, assuring its balance sheet and employee retention remain robust, despite the recent market uncertainty. The Binance boss blamed negative news, rumors, bank runs, lawsuits, the closing of fiat channels, product wind-downs and employee turnovers for creating an environment of FUD (fear, uncertainty, doubt) in a Sept. 7 post on X (Twitter).  Saw some debates in the community. When you do the right thing, and there is FUD, you don't have to do anything. The community defends you. Let me summarize. There have been a lot of negative news/rumors, bank runs, lawsuits, closing of fiat channels, product wind downs,… — CZ Binance (@cz_binance) September 7, 2023 He then used the opportunity to clarify Binance’s current financial position: “Guess what we don't have...

Tether’s reported new partnership with Britannia Bank makes it the third Bahamas-based bank to join forces with the stablecoin issuer. Tether, the stablecoin issuer behind USDT, has reportedly added Britannia Bank & Trust, a private bank based in The Bahamas to process dollar transfers on its platform. It is understood Tether has instructed clients to send money to Britannia’s bank account over the last few months, according to an Aug. 29 report by Bloomberg, citing people familiar with the matter. However, it isn’t clear when Tether’s banking relationship with Britannia Bank started, but its other reported banking partners include Deltec Bank and Capital Union Bank. In recent months, United States- based cryptocurrency firms have had to increasingly look offshore for banking partners amid increased scrutiny by U.S. regulators following the shock collapse of FTX in November. Tether’s unwillingness to publicly disclose the full extent of its balance sheet and banking relationsh...

Simon Callaghan said that efforts need to start on social media and telecommunication channels where most cryptocurrency scams originate. Blockchain Australia’s new CEO, Simon Callaghan, is urging Australia’s banks, the government and the crypto industry to come together to combat rising cryptocurrency scams. Speaking on the final day of Australian Block chain Week in Melbourne on June 30, Callaghan announced the association will now be focused on helping prevent scams that involve crypto , among its other efforts . Simon Callaghan speaking at Australian Blockchain Week on June 30. Source: Cointelegraph “We're going to have to work with the banking sector. We're going to have to work with the government,” the CEO said, stressing the need to protect consumers. Callaghan however noted that scams often originate on social media or through telecommunication channels — noting that policing efforts need to start from the point of first contact: “Crypto is either an exit point or m...

Cathie Wood thinks Bitcoin and Ether are acting as “risk-off” assets and as a “flight to safety” for investors amid macroeconomic uncertainty. Recent turmoil in the banking sector has shown that Bitcoin (BTC) and Ether (ETH) can withstand a shaky economy, outperform other asset classes and function like gold, says ARK Invest chief executive Cathie Wood — though one long-time investor still isn’t sold. Wood explained in an April 15 interview that Bitcoin’s resilience throughout the most recent banking crisis has been “the most remarkable” of all indicators her tech-focused investment management firm is monitoring. Bitcoin and Ether are now acting as “risk-off” assets and as a “flight to safety” for investors amid macroeconomic uncertainty, she claimed: “They’re going to disrupt the traditional world order. What are Bitcoin and Ether doing? I mean by the very fact that they’re being considered flight to safety like gold, that’s really interesting and suggests much broader-based adoption...

Join us as we discuss the problems faced by the banks and the Federal Reserve and whether they will translate into problems for the crypto market. In this week’s episode of Market Talks, Cointelegraph welcomes Dave Weisberger, CEO and co-founder of CoinRoutes. Weisberger has over 35 years of experience in market structure, quantitative finance and trading automation. He started his career at Morgan Stanley where he built its first program and electronic trading systems. Weisberger is a strong economic freedom advocate and digital asset believer. We start things off with our main topic for today: the banks and the United States Federal Reserve and the problems they are currently facing. Crypto seems to be unaffected by this at the moment, but is there a possibility that their problems could translate into problems for the crypto space? For those of you who are still a bit confused about what happened with Silvergate, Silicon Valley Bank and others, we ask Weisberger to break it all dow...