Bank of America (BoA) does not expect a recession in the US economy this year and predicts that economic growth will continue at around 1.5% until the end of the year. In a conference call with analysts, Bank CEO Brian Moynihan highlighted the improvement in the market environment in the last quarter, stating that this
Talos, a provider of institutional trading technology, is buying data company Coin Metrics as it looks to widen its services for institutional investors, according to a company press release on Wednesday. The deal adds to a growing list of deals in the crypto M&A space this year. A Talos spokesperson would not confirm the size
In its Beige Book report, compiled by the Boston Fed and released minutes ago, the Fed said the U.S. economy grew slightly from late May to early July. However, the overall economic outlook was assessed as neutral to slightly pessimistic. In the report, only two of the Fed’s 12 districts indicated that they expect an
Boundless, the decentralized zero-knowledge (ZK) compute marketplace powered by RISC Zero, has launched its incentivized testnet (which it is calling “Mainnet Beta”) on Base, Coinbase’s Ethereum layer-2 network. With Boundless’ incentivized testnet, developers can build and test applications in an environment as if the protocol is in fully live format. The network has already landed
Snail Games (SNAL), a publicly-traded video game studio, said on Tuesday that it is mulling the development of its own U.S. dollar stablecoin. The company is evaluating the technical, legal, and financial hurdles to issuing a proprietary stablecoin, according to a press release. To support the effort, Snail retained George Cao, founder of the crypto
José Fernández da Ponte, formerly the head of blockchain at PayPal, has left the fintech giant, where he oversaw the roll-out of digital currencies and stablecoins, to become president and chief growth officer of the Stellar Development Foundation (SDF). The foundation also said it appointed Jason Karsh, a former Block and Blockchain.com executive, as chief
Bank of America (BofA) is preparing to enter the stablecoin market, CEO Brian Moynihan said Wednesday, adding that the bank has already laid the groundwork and expects to act when the time is right. “We feel both the industry and ourselves will have responses,” Moynihan said during the lender’s second quarter investor call. “We’ve done
Crypto asset manager Bitwise said it is improving transparency for its spot bitcoin BTC$119,111.73 and ether (ETH) exchange-traded funds, rolling out third-party proof-of-reserves verifications through U.S. accounting company The Network Firm. The process, which is already live, replaces Bitwise’s prior practice of publicly listing nearly 90 wallet addresses on its websites. Instead, The Network Firm
The U.K. government on Tuesday said it intends to enable the wholesale market to identify the best distributed ledger technology (DLT) use cases as well as roll out tokenization solutions. The country wants DLT – the blockchain technology that underpins crypto – to be utilized across different sectors in wholesale financial markets and create cross
For more than a decade, the crypto industry has championed decentralization, transparency, and self-sovereignty. These principles are noble—and in many ways, essential. But, if we’re honest, they haven’t yet translated into broad, mainstream adoption. The dream of billions of people using blockchain every day is still largely that—a dream. To make it reality, we need