A landmark project to tokenize 250 million pounds ($330 million) in U.K. retail bank deposits has been delayed as Monument Bank scrambles to resolve an institutional custody bottleneck. Monument Bank founder Mintoo Bhandari said the London-based firm’s plan to tokenize client deposits on the privacy-focused Midnight blockchain had fallen several months behind schedule due to
Today, the eagerly awaited Producer Price Index (PPI) data was released in the US ahead of tomorrow’s Consumer Price Index (CPI) data. The PPI accelerated on an annual basis, further increasing the likelihood of a Fed interest rate hike in September. Prior to the data release, the Fed WatchTool data indicated a 62.2% probability of
Happy Thursday, advisors! In today’s newsletter, Michael Zhao from Grayscale Research on how Hyperliquid moved exchange-level trading onchain, and why its prices are starting to matter beyond it. Then, in “Ask an Expert,” Kim Klemballa answers questions about the HYPE token: staking, fees, governance and the ETFs now tracking it. Happy reading. – Sarah Morton
The bankruptcy of the cryptocurrency ATM sector’s largest provider has opened the door for smaller firms to snap up their defunct kiosks for pennies on the dollar. Bitcoin Depot (BTM) filed for Chapter 11 bankruptcy protection in May following a 49% collapse in first-quarter revenue compared to a year earlier and a swing from $12.2
Recent rapid advancements in quantum computing technology have brought the quantum threat back to the forefront of security concerns for cryptocurrencies, particularly Bitcoin. The possibility that sufficiently powerful quantum computers could break the current cryptographic systems of cryptocurrencies raises concerns about the long-term security of digital assets. Therefore, transitioning to quantum-resistant technologies and preparing existing
European financial and crypto industry groups urged lawmakers to scrap limits on tokenized securities platforms or set a ceiling of at least 1.5 trillion euros ($1.74 trillion), arguing that a proposed 100 billion-euro cap would constrain growth. The request came in a letter addressed to the European Council and European Parliament with signatories including French
The US election process, closely followed by the Bitcoin and altcoin markets, has resumed. As the US gradually prepares for the November 3rd congressional elections, President Donald Trump launched his campaign yesterday in Texas. Trump made a bold start to his election campaign, announcing that adult US citizens would receive a $5,000 payment if the
The U.S. 10-year Treasury yield climbed to 4.856% on Wednesday, its highest level since October 2023, despite the Treasury Department’s announcement that it would repurchase $6 billion of long-dated government debt. The buyback, which targets Treasuries maturing in 10 to 20 years, is intended to improve market liquidity and ease upward pressure on long-term borrowing
The rapid rise in artificial intelligence (AI) technology investment could pose financial-stability risks if companies fail to generate the returns investors expect, Pablo Hernandez, the head of the Bank for International Settlements (BIS) said on Thursday. Hernandez’s said the largest AI companies’ capital spending is increasingly outpacing their cash flows and being financed through debt
Fnality has named former Bank of England deputy governor Jon Cunliffe to chair its UK board as the blockchain settlement company develops euro and US dollar payment systems. The company said Thursday that Jochen Metzger, a former Deutsche Bundesbank director general for payments and settlement systems, had joined its European subsidiary’s supervisory board and was