Cryptocurrency Daily Thefoxposts.com

Major US banks are secretly working together on a crypto stablecoin project that could reshape the entire digital payments landscape. Right now, JPMorgan Chase, Bank of America, Citigroup, and Wells Fargo are exploring whether to team up and issue a joint stablecoin, marking a dramatic shift from their previously cautious stance toward cryptocurrency markets. Discussions on merging have been held in private via the Zelle system by Early Warning Services and The Clearing House’s real-time payment network. Work toward the agreement is still exploratory and its content may shift as time passes. Also Read: US Stocks, Bonds Sink as Debt Fears Caused by Trump Persist How US Banks Address Crypto Stablecoin Risks and Market Volatility Source: Linkedin / JP Morgan Regulatory Framework Creates New Opportunities It isn’t by chance that this banking project comes now and it links straight to recent changes in banking regulations. The GENIUS Act is moving forward in Congress, as the Senate has just...

Donald Trump is currently battling a wide range of administrative issues. His current priority is to be robust in the US economic aspects, and for that to happen, Trump has already proposed an international tariff strategy, the one that can help the US gain the upper hand and help make the US economy prosper in the long run. However, on a larger scale, Trump would need another policy hack, a simplification tool to solve a plethora of US economic woes, including quelling the fears of stagflation and inflation. As many great patrons have said, the complete way out always includes a crash first. Will the US consider the possibility of recession to end its economic woes at once? One portal thinks so. Also Read: FIFA Signs Partnership With Avalanche (AVAX) to Build Its Own Blockchain Does Trump Want a Recession? Source: Reuters Recession is always described as a temporary economic decline, a period of low productivity, as trade and economic activities are reduced during the time. The US’s t...

Despite JPMorgan’s role in BlackRock’s SEC-approved Bitcoin ETF, its CEO, Jamie Dimon, remains resolute in his anti-crypto rhetoric and BTC skepticism. Bitcoin (BTC) holds little utility outside of serving as a channel for hundreds of billions in illicit wealth from fraud, money laundering, tax avoidance, and sex trafficking, said JPMorgan Chase CEO Jamie Dimon. Speaking with CNBC at the 2024 World Economic Forum in Davos, Dimon commented on the spot BTC ETFs approved by Gary Gensler’s Securities and Exchange Commission (SEC) on Jan. 10, noting that blockchain’s value exists in tokenization of real-world assets like real estate and not in cryptocurrencies like Bitcoin. Blockchain is real and it’s a technology. We at JPMorgan use it. It’s going to move money, data, and it’s efficient. We’ve talked about it for 12 years now. Bitcoin on the other hand is the pet rock. Jamie Dimon, JPMorgan CEO Dimon, whose banking giant is an authorized participant in BlackRock’s iShares Bitcoin Tr...