Fidelity’s director of global macro, Jurrien Timmer, claimed that Bitcoin (BTC) could be “cheaper than it appears,”. Timmer told his 126,000 Twitter followers that while Bitcoin’s price has gone back to 2020 levels. Its price-to-network ratio has plummeted to 2013 and 2017 levels, indicating that it is undervalued. The price-to-network ratio is a crypto-version of
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The Depository Trust & Clearing Corporation (DTCC), one of the leading financial service providers in the United States, has announced “Project Lithium,” a pilot program to test infrastructure in support of a digital currency based on blockchain technology in the United States. The DTCC stated in a statement on Tuesday that Project Lithium is based
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Australia’s ANZ Bank has become the country’s first major financial institution to produce and accept payment of a stablecoin tied to the country’s currency. ANZ announced on Wednesday that it had successfully produced $30 million worth of its bank-backed A$DC stablecoin using an Ethereum Virtual Machine (EVM) compliant smart contract deployed through the Fireblocks platform.
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The Federal Reserve, the United States’ central bank, released a new whitepaper on the central bank digital currency (CBDC) or Digital Dollar on Tuesday, January 20. Given that other developed economies have already taken the lead in exploring CBDC initiatives, this is a positive trend. Fed Chairman Jerome Powell said in a statement on Tuesday:
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The US Federal Reserve is deferring to Congress on whether or not to introduce a central bank digital currency (CBDC). That’s, according to Lael Brainard, who spoke before the Senate Banking Committee on Thursday. Senator Cynthia Lummis, a Republican, asked if the vice chair nominee thought the digital dollar. Which is, China’s upcoming digital yuan,
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The Reserve Bank of New Zealand (RBNZ) has released an issue paper on central bank digital currencies (CBDC). The Statements of The Reserve Bank The article explains the CBDC’s goals, designs, and the possible advantages and dangers that come with them. The proposed paper will be open for public feedback until December 6th. The proposal
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