News
CBDCs threaten more central bank control over money, including potential expiry dates on personal savings, Bitcoin Policy UK’s CEO said.
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Central Bank News
A central bank is the main entity responsible for a region’s money system. Some of the world’s prominent central banks include the eurozone’s European Central Bank, the United States Federal Reserve, the Bank of Japan, the Bank of England, the Reserve Bank of India and the People’s Bank of China. Central banks supervise a number of economic aspects regarding their respective regions, including money supply management.
A central bank digital currency, or CBDC, serves as a digital form of a region’s currency. A CBDC could possibly be called a central bank cryptocurrency, although because a CBCD is essentially a digital form of fiat currency, such assets are not decentralized and are not the same as the crypto assets native to the cryptocurrency industry.
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Bitcoin accounts for an ever-greater share of global money as central banks continue to print currency and reduce purchasing power.
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Bitcoin fell below $113,000 as investors braced for Jerome Powell’s Jackson Hole speech that could set the US Fed’s path on interest rate cuts.
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The Federal Reserve vice chair for supervision, Michelle Bowman, said the central bank should roll back its restrictions that ban staff from buying crypto.
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A savvy trader turned a $125,000 investment into almost $43 million at its peak, before locking in almost $7 million of profit after the market downturn decreased their long positions.
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Amdax is launching a Bitcoin treasury company, aiming for a Euronext listing as more European companies join the growing corporate Bitcoin adoption wave.
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Military Bank, a Vietnamese state-controlled lender, has partnered with the parent company of South Korea’s Upbit exchange, Dunamu, to develop a cryptocurrency exchange.
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Bitcoin fell below $119,000 on Thursday after US Treasury Secretary Scott Bessent said the government will not make new BTC purchases to fund a Bitcoin reserve.
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The ballooning US deficit may lead to an increase in the money supply through quantitative easing, lining up a $132,000 Bitcoin price top in 2025.
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The new whale’s investments came amid record-breaking Ether ETF inflows, which may help Ether recapture its old all-time high, market watchers told Coinpectra.
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Bitcoin’s corporate adoption is increasingly resembling the “nationalization path” of gold leading up to 1971, presenting a new centralization concern, according to Willy Woo.
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Standard Chartered’s Hong Kong arm and Animoca Brands have launched a joint venture, Anchorpoint Financial, to develop a licensed Hong Kong dollar stablecoin.
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CrediX recovered $4.5 million in stolen crypto after reaching a deal with the exploiter. Affected users will be refunded within 48 hours, the team said.
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ECB Executive Board member Piero Cipollone said that a digital euro will not replace physical money but complement it to preserve payment autonomy.
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Bitcoin’s range expansion chose the downside, but data suggest the larger breakout is still brewing.
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