USD Coin (USDC) issuer Circle has partnered with New York Community Bancorp in a deal that will see the bank’s subsidiary, New York Community Bank, become a custodian for the stablecoin’s reserves, Circle announced June 28. This collaboration marks a significant milestone for NYCB, which has become the first community bank to hold USDC reserves….
👋 Want to work with us? CryptoSlate is hiring for a handful of positions! As the crypto winter prolongs, its effects are rippling into different areas of the crypto ecosystem and forcing difficult decisions. Several crypto companies face liquidation risks, cutting their workforce and pausing user activities on their platforms to stay afloat. The latest…
👋 Want to work with us? CryptoSlate is hiring for a handful of positions! The Federal Open Market Committee has raised interest rates by 75 basis points, increasing the primary credit rate to 1.75%. The crypto markets remained largely stable following the news as the rate hike had been hinted at in media reports. BTC/U.S…
👋 Want to work with us? CryptoSlate is hiring for a handful of positions! Tether has released a statement to counter reports making rounds about its commercial paper portfolio. The rumors claimed that Chinese or Asian commercial papers made up 85% of the firm’s commercial paper portfolio and were being traded at a 30% discount….
👋 Want to work with us? CryptoSlate is hiring for a handful of positions! According to a report from Barron’s, Goldman Sachs is discussing with leading crypto exchange FTX to add some of its derivatives business into its operation. Per the report, Goldman Sachs wants FTX to integrate some aspects of their derivatives businesses, such…
👋 Want to work with us? CryptoSlate is hiring for a handful of positions! Crypto traders withdrew around $10 billion from Tether USDT in the last two weeks as talks of increased regulatory scrutiny for stablecoins continue to grow. CryptoSlate data shows that the circulating supply of USDT dropped to $73.3 billion on Monday from…
👋 Want to work with us? CryptoSlate is hiring for a handful of positions! French banking giant BNP Paribas has joined U.S.-based J.P. Morgan’s blockchain platform Onyx Digital Assets to use tokenized versions of fixed income assets for short-term trades, according to a Financial Times report. After the 2008 financial crisis, banks are required to…
Analysts at banking behemoth Goldman Sachs believe the recent crypto crash will have little impact on U.S. households. Michael S. Derby, a special reporter from Wall Street Journal, shared this information through a Twitter screenshot on May 19. The bank’s analysts, led by Jan Hatzius, estimated that U.S. households hold approximately one-third of the global…
The South African Reserve Bank is mulling the issuance of a digital rand, Reuters reported on May 18, citing the central bank’s Deputy Governor Kuben Naidoo. Naidoo said a digital rand could significantly cut the cost of cross-border payments for banks. However, he added that the central bank is still years away from introducing the…
El Salvador President Nayib Bukele announced a meeting of 32 central banks and 12 financial authorities from 44 countries on Twitter late Sunday night. On Monday, May 16, this meeting will take place to discuss financial inclusion, the digital economy, banking the unbanked, and El Salvador’s Bitcoin (BTC) rollout and benefits. President Bukele tweeted on…