In a significant ruling, a federal judge has dismissed Custodia Bank Inc.’s claim for entitlement to a Federal Reserve master account, marking a setback for the Wyoming-based depository institution. Custodia Bank argued that the Federal Reserve Bank of Kansas City (FRBKC) was legally obliged to grant its application for a master account, a critical financial […]
In a statement released on March 7, the Canadian fintech entity Mogo disclosed its strategy to diversify its portfolio by investing in bitcoin and bitcoin exchange-traded funds (ETFs), earmarking an initial outlay of as much as $ 5 million. Canadian Fintech Mogo Dives Deeper Into Bitcoin The publicly traded Canadian enterprise Mogo (Nasdaq: MOGO) …
The crypto industry has responded to criticism from Hillary Clinton, who said that cryptocurrency can undermine the role of the U.S. dollar as the world’s reserve currency. Galaxy Digital CEO Mike Novogratz argued that the only thing that can undermine the U.S. dollar as a reserve currency is reckless spending by both U.S. political parties. […]
The Federal Reserve terminated its enforcement action against Washington-based Farmington State Bank, previously known as Moonstone Bank and linked to FTX’s Alameda Research. Federal Reserve Terminates Enforcement Action of FTX-Linked Farmington Bank The Federal Reserve Board has officially concluded its enforcement actions against Farmington State Bank and its parent company, FBH Corporation. This termination marks […]
Renowned financial analyst with over 54 years of experience, Richard Bove, has warned that the U.S. dollar is finished as the world’s reserve currency, cautioning that China will overtake the U.S. economy. He warned that the offshoring of American manufacturing poses a significant threat to the financial sector and the U.S. dollar. Richard Bove’s Economic […]