Singapore Gulf Bank adopts @BNYMellon’s 24/7 USD settlement, challenging stablecoins’ edge on always-on transactions. This move could reshape traditional banking’s competitive landscape. #Update #Banking
XRP has dropped 38% in a year, while Bitcoin fell 16%. Finance expert John Vasquez highlights the dollar’s 28% purchasing power decline over a decade. #Update #Crypto $XRP
Patrick Witt, White House Council of Advisors for Digital Assets, argues stablecoins boost US bank deposits via foreign demand, countering fears they’ll drain funds. #Update #Crypto
@Binance has launched direct USD deposits and withdrawals in over 70 countries, utilizing SWIFT, Apple Pay, and Google Pay through BPay Global. This initiative enhances accessibility in the crypto ecosystem. #Update #Crypto $USDT
European rating agency Scope warns of potential US credit rating downgrade due to trade policy uncertainty, outlining scenarios from tariff-light to economic crisis. #Update #Economy Scope Ratings (-4) ↘
Stablecoin trading volumes in Argentina surged 100% after currency controls ended, with buyers driving exchange rates higher by Saturday. #Update #Crypto (+4) ↗
@DeutscheBank warns of risks to the U.S. dollar’s global reserve status due to concerns over the Federal Reserve’s liquidity backstop and dollar swap lines. #Update #Finance (-3) ↘
Redditors on r/bitcoin are divided over selling $BTC at $1 million, weighing financial goals, inflation, and long-term faith in cryptocurrency. #Update #Crypto $BTC (+3) ↗
Central banks are set to print money in early 2025, says @Jamie1Coutts, potentially boosting $BTC as the US dollar index impacts its price. BTC is currently trading at $102,406. #Update #Crypto $BTC (-1) ↘
@jpmorgan predicts the US dollar’s strength may persist as the US economy is set to grow by 2.7% in 2024, outpacing other developed markets, potentially impacting Fed rate cuts. #Update #Economy @jpmorgan (+3) →
