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Federal Reserve Chair Jerome Powell has made a major statement that could reshape the relationship between traditional banks and the cryptocurrency sector. Speaking before the House Financial Services Committee, Powell addressed concerns about the increasing interaction between cryptocurrency and the traditional banking system.  While acknowledging crypto’s volatility and speculative nature, he stated that the Fed does not intend to prevent banks from serving legal crypto customers as long as they understand and manage the associated risks. Picks for you U.S. tariffs are at the highest levels since the Great Depression; Here's why it matters 2 hours ago Bitcoin rainbow chart predicts BTC price for February 28 ...

Deutsche Bank is set to offer customers cryptocurrency custody options through a partnership with cryptocurrency infrastructure platform Taurus. The German bank was one of a handful of company’s to invest in a $65 million, series B fundraising round for Taurus in Feb. 2023. The company offers enterprise-grade infrastructure to issue, manage custody and trade crypto currencies, tokenized assets, nonfungible tokens (NFTs) and other digital assets. According to Taurus co-founder Lamine Brahimi, the partnership underwent a "thorough and very detailed" due diligence process before the German bank decided to use its infrastructure services: "It started, end of 2021 and ended somewhere in 2022. We won the deal a couple of quarters ago." As Cointelegraph previously reported, Deutsche Bank has been brewing plans to offer cryptocurrency custody and trading services to its clients over the past three years. The bank most recently applied for a digital asset custody license ...

The price of Bitcoin has bounced upwards as First Republic Bank deposit slump sparks fresh banking crisis fears in the United States. The price of Bitcoin (BTC) spiked more than 3% in the last 24 hours as fears were sparked of another possible imminent bank failure as First Republic Bank (FRC) shares closed down more than 50% on April 25. According to the Head of Research at Australian crypto education platform Collective Shift, the price of Bitcoin rallied immediately following Fox News Business Reporter Charles Gasperino breaking the news that bankers working with First Republic Bank expect the institution to go into government receivership. # Bitcoin $BTC is up 2.4% in the last 90 minutes after @CGasparino breaks the news that bankers working with First Republic Bank $FRB "expect eventual govt receivership." Price was $27,500 at the time of the tweet and is now $28,150. pic.twitter.com/aSjzFXiip6 — Matt Willemsen (@matt_willemsen) April 25, 2023 Receivership is a t...

Balaji Srinivasan has predicted Bitcoin will reach $1 million within 90 days as a consequence of hyperinflation in the United States. Former Coinbase chief technology officer Balaji Srinivasan has made a millionaire bet on Bitcoin's (BTC) price over the next 90 days, predicting the cryptocurrency price will reach $1 million by June 17.  The wager was initiated on March 17, when pseudonymous Twitter user James Medlock offered to bet anyone $1 million that the United States would not experience hyperinflation. A few hours later, the former Coinbase CTO accepted the bet. Sir, I believe we have ourselves a deal https://t.co/9JYaLNo9Eq — James Medlock (@jdcmedlock) March 18, 2023 Under the proposed terms, if Bitcoin's price fails to reach $1 million by June 17, Medlock will win $1 million worth of the dollar-pegged stablecoin USD Coin (USDC) and the 1 BTC. The same way, if Bitcoin is worth at least $1 million by the date, then Balaji can keep the 1 BTC and the $1 million in USD...