cdtv

Federal Reserve Chair Jerome Powell testified on Capitol Hill Wednesday, saying "we do see payment stablecoins as a form of money." Powell further underscored the significance of central banks as the "ultimate source of credibility in money" in all advanced economies. He also argued for the need for strong central bank oversight in stablecoin regulations being crafted by lawmakers in the House Financial Services Committee.

21. Juni 2023

The CoinDesk Market Index performance has been mixed this week, with more than half of the 152 assets having positive returns. This comes amid a recent research report from Bernstein estimating the size of the tokenization opportunity to be as much as $5 trillion over the next 5 years, led by stablecoins, CBDCs, private market funds, securities and real estate. CoinDesk's Jennifer Sanasie presents "The Chart of the Day."

21. Juni 2023

The wind-up of crypto exchange FTX is set to be “very expensive by any measure” with professional fees already amounting to over $200 million, a court-appointed examiner said in a filing. "The Hash" panel shares their reactions to the escalating legal fees in FTX's bankruptcy case.

21. Juni 2023

The Monetary Authority of Singapore (MAS) has proposed standards for using digital money, including central bank digital currencies (CBDCs) and tokenized bank deposits, on a distributed ledger. "The Hash" panel breaks down the technical white paper produced by the agency with the International Monetary Fund (IMF) and other financial institutions.

21. Juni 2023

Stablecoins and decentralized finance (DeFi) are likely to become the next targets in the U.S. Securities and Exchange Commission (SEC)'s crackdown on the crypto industry, Berenberg said in a research report. This comes after the SEC said earlier this month that it was suing crypto exchange Binance, its founder Changpeng “CZ” Zhao and the operating company for Binance.US on allegations of violating federal securities laws. A day later it sued rival exchange Coinbase (COIN) on similar charges. The Hash" panel weighs in on the agency's approach to crypto regulation.

21. Juni 2023

In prepared remarks before the House Financial Services committee, Federal Reserve Chair Jerome Powell noted, "nearly all FOMC participants expect that it will be appropriate to raise interest rates somewhat further by the end of the year." The central bank leader also shares his insights on the Fed's plans for decision making in order to return inflation to 2%.

21. Juni 2023

eToro U.S. investment analyst Callie Cox discusses her reactions to traditional finance firms like Invesco, WisdomTree, and BlackRock apply for a spot bitcoin (BTC) exchange-traded fund (ETF) and the "pent-up demand" for crypto from institutions. "Institutional money is where this industry grows," Cox said. "Wall Street still believes in certain parts of crypto."

21. Juni 2023

Investment management company Invesco (IVZ) and asset management firm WisdomTree reapplied for a spot bitcoin (BTC) exchange-traded fund (ETF) in light of BlackRock’s (BLK) recent application. "First Mover" hosts discuss the crypto market's reaction to TradFi players advocating for more crypto products.

21. Juni 2023

Analysts from Berenberg say that the U.S. Securities and Exchange Commission (SEC) could bring DeFi protocols and stablecoins, including tether and USD Coin, into regulatory compliance as the agency continues its crackdown on the crypto industry. CoinDesk Managing Editor of Global Policy and Regulation Nikhilesh De weighs in on the report.

21. Juni 2023

The Uniswap Foundation released its Bridge Assessment Report recently, a major community undertaking that saw the decentralized exchange (DEX) formally examine some of the core infrastructure powering the Uniswap DAO's governance process. Wormhole and Axelar took the top honors after a months-long assessment. Axelar CEO and co-founder Sergey Gorbunov discusses the analysis and the potential vulnerabilities of cross-chain bridges.

21. Juni 2023