The CEO of Circle, the company behind the popular stablecoin USD Coin, Jeremy Allaire, is optimistic about the future of stablecoin regulation in the United States. With a $135.3 billion market, stablecoins have become an integral part of the cryptocurrency industry. However, unlike other jurisdictions around the world, the United States has yet to pass
Global Finance
The recent approval of 11 spot bitcoin exchange-traded funds (ETFs) by the Securities and Exchange Commission (SEC) signifies a potential turning point for cryptocurrency investing. Led by industry veteran Cathie Wood, these new ETFs aim to promote the democratization of bitcoin access and provide more opportunities for investors. Wood, the CEO and Chief Investment Officer
Wells Fargo, one of the largest banks in the United States, reported a rise in fourth-quarter profit from a year ago. However, despite the positive news, the bank’s shares fell more than 1% before the market opened on Friday. The reason behind this decline was the bank’s warning about the potential for significantly lower net
The annual inflation rate saw a slight uptick in December, ending a two-month decline. While some might find this concerning, economists argue that the reversal is not necessarily a cause for alarm and could even be misleading. According to Sarah House, a senior economist at Wells Fargo Economics, the country is still making progress in
The fintech industry experienced a significant decline in investment in 2023, indicating a challenging year for the sector. The global figures shared exclusively with CNBC by Innovate Finance, a financial technology industry body, reveal a 48% decrease in investment, with a total of $51.2 billion invested, compared to $99 billion in 2022. Alongside this decline,
Federal Reserve Governor Michelle Bowman, once a staunch advocate for tight monetary policy, has recently shifted her stance on interest rate hikes. In a speech delivered at a private event in South Carolina, Bowman suggested that rate hikes are likely over, but she is not ready to implement cuts just yet. This article delves into
Gift cards have become one of the most popular presents during the holiday season. However, a significant number of individuals end up with unused gift cards sitting in their drawers, gathering dust. According to a 2023 Bankrate survey, 47% of U.S. adults have at least one unused gift card, totaling a staggering $23 billion worth
Crypto investors worldwide are anxiously awaiting a long-awaited ruling from the U.S. Securities and Exchange Commission (SEC) that could finally approve the trading of a spot bitcoin exchange-traded fund (ETF). This decision comes more than a decade after initial attempts to introduce a bitcoin ETF were rejected by the SEC. This time, however, things seem
The predicted rise of the benchmark 10-year Treasury note yield to its highest level since May 2001 has brought forth mixed opinions from experts. Wall Street forecaster Jim Bianco is at the forefront of this prediction, forecasting that the yield will reach 5.5% this year. This level has not been seen since the time of
The Federal Reserve officials have concluded that interest rate cuts are on the horizon for 2024, as stated in the minutes released from their December meeting. However, little clarity was provided regarding the timing of these potential cuts. During the meeting, the rate-setting Federal Open Market Committee decided to maintain its benchmark rate within a
Richmond Federal Reserve President Thomas Barkin recently addressed the state of the economy, expressing confidence in its trajectory towards a soft landing. However, he also emphasized the need for caution among policymakers, recognizing the challenges that lie ahead. Despite progress in managing inflation and sustaining economic growth, Barkin indicated that interest rate hikes are still
BYD, the Chinese electric car company, announced on Monday that it has produced over 3 million new energy vehicles in 2023. This puts BYD on track to surpass Tesla’s production for the second consecutive year. While Tesla has not yet released its full-year figures, it stated that it produced 1.35 million cars during the first