Search Results for: lending

SEC, DOJ Investigate FTX — Regulators Suspect Crypto Exchange Mishandles Customer Funds

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The U.S. Securities and Exchange Commission (SEC) and the Department of Justice (DOJ) are reportedly investigating cryptocurrency exchange FTX. The crypto firm is suspected of mishandling customer funds and breaking securities laws. Regulatory probes are among the key reasons why Binance…

Bank of England Hikes Repo Rate by 75bps — UK’s 30-Year Fixed Mortgage Rate Jumps to 7%

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On Nov. 3, 2022, the Bank of England followed the U.S. Federal Reserve by codifying the eighth consecutive benchmark bank rate hike by 75 basis points (bps). The increase brings the United Kingdom’s main lending rate to 3%, after a majority…

The Fed Codifies Fourth Consecutive 75bps Rate Hike — Stocks, Bitcoin, and Metals Rise

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The U.S. Federal Reserve introduced another jumbo rate hike on Wednesday, Nov. 2, 2022, by hiking the federal funds rate (FFR) by 75 basis points (bps). The American central bank said on Wednesday that the hike aims to curb inflation and…

Singapore Seeks to Reduce Risks for Retail Crypto Investors With Restrictive Rules

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Financial authorities in Singapore have proposed new regulations designed to protect consumers from risks associated with cryptocurrency investment and trading. The measures, which also aim to expand regulations for stablecoins, will be discussed with the industry before their adoption. Singapore Prepares…

JPMorgan Hires Former Executive of Bankrupt Crypto Firm as Head of Digital Assets Regulatory Policy

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JPMorgan Chase & Co. has hired bankrupt crypto lender Celsius Network’s former head of policy and regulatory affairs as its new head of digital assets regulatory policy. The move followed JPMorgan CEO Jamie Dimon telling U.S. Congress that crypto tokens, like…

Fed’s Inflation Nowcasting Data Shows Future CPI Increases, US Gross National Debt Hits $31 Trillion

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A recently published forecast stemming from the Federal Reserve Bank of Cleveland’s Inflation Nowcasting data indicates upcoming U.S. consumer price index (CPI) metrics will likely be elevated. The newly predicted CPI levels were recorded the same day America’s gross national debt…

Basel Study Shows World’s Largest Banks Are Exposed to $9 Billion in Crypto Assets

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A first-of-its-kind study published by the Basel Committee on Banking Supervision details that the world’s largest financial institutions are exposed to roughly €9.4 billion (US$9 billion) in crypto assets. The research paper authored by the Basel Committee’s secretariat Renzo Corrias further…

More Than a Half Dozen US Securities Regulators File Actions Against Crypto Lender Nexo

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Crypto lender Nexo is having issues with state authorities from California, New York, Washington, Kentucky, Vermont, South Carolina, and Maryland. The enforcement actions from multiple state securities regulators detail that Nexo’s Earn Interest Product (EIP) may be in violation of securities…

Singapore Seeks Detailed Information From Crypto Firms Ahead of New Regulations, Report Unveils

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Financial authorities in Singapore are taking steps toward increased oversight in the crypto space with the city-state’s central bank reportedly asking companies to provide additional information about their activities and assets. Ahead of a possible broadening of the applicable rules, the…