Crypto News
Fed Chair Jerome Powell Says No US CBDC Under His Watch
Powell confirmed in a Senate Hearing on Tuesday that the U.S. won't issue a central bank digital currency or CBDC while he's in charge.Source link
Fed ‘Struck’ by De-Banking Surge—Powell Promises a Fresh Look
Federal Reserve Chair Jerome Powell has admitted a rise in de-banking cases, stating he is “struck” by the trend and pledging a “fresh look” at the issue. Powell Admits Growing Cases of De-Banking—Will the Fed Finally Take Action? Federal Reserve Chair Jerome Powell testified before the Senate Banking Committee on Feb. 11, where Senator CynthiaSource link
Ether Poised for a Rebound to $3K From Oversold Levels: Analysts
Ether (ETH), the second largest cryptocurrency by market capitalization, recently sunk to its weakest price compared to bitcoin (BTC) since late 2020 in a trade war-fueled panic crash, but a relief bounce might be on the horizon."ETH looks to be trying to establish some bullish momentum and could be looking to finally make a recovery back above $3,000," LMAX strategist Joel Kruger said in a Tuesday morning report. "Sentiment towards the world’s second largest crypto asset has been back on the rise with many medium and longer-term players stepping in to take advantage of the recent dip," he added."ETH looks to be trying to establish some bullish momentum and could be looking to finally make a recovery back above $3,000,"...
Former Supreme Court Star Has Bail Revoked as Feds Uncover Crypto Trail
Federal prosecutors claimed that he posed an "urgent risk of flight," given his connections to "wealthy individuals."Source link
Fed’s Powell Says He’s Also Worried About Debanking That Strained U.S. Crypto
When confronted by members of the Senate Banking Committee about concerns over the "debanking" trend plaguing the crypto industry, Federal Reserve Chairman Jerome Powell said he's also worried about it and is already tweaking internal supervision policies at the Fed."I too, am troubled by the quantity of these reports," Powell said in routine testimony before the Senate Banking Committee on Tuesday. He offered that "one theory is that banks are just very risk averse" about money-laundering rules and aggressive supervision under which they're unwilling to welcome customers that may stretch their compliance demands."We're determined to take a fresh look at that," said Powell, who added that he'd been "struck by the growing number of cases of what appears to be...