COST Financial News

The Securities and Exchange Commission’s plan to ban a range of controversial activities by private-fund managers marks a major change in the agency’s approach and likely will face industry challenges, experts say.

The latest U.S. January inflation data came in like a «punch in the stomach» for the Federal Reserve, which raises the possibility for an aggressive 50 basis points rate hike in March, the global chief economist of Citi Research said.

Moelis & Co has hiked pay by 63% and plans to hire more senior bankers, as boutique investment banks continue to unveil record years amid an unprecedented deal boom.

Disclaimer: The text below is a press release that was not written by Cryptonews.com. 

Americans are paying about twice as much for gasoline now as they were early in the Covid-19 pandemic. And the high price of fuel is costing consumers away from the gas pump, too, contributing to decades-high inflation on a range of goods and services.

The average U.S. household is spending an additional $250 a month because of inflation that is rising at its fastest rate in nearly 40 years, a new economic analysis showed.

Credit Suisse slumped to a CHF2bn ($2.2bn) loss in the fourth quarter as successive crises rocked the Swiss bank in 2021 — capping a torrid year that led to an exodus of talent, a strategic overhaul and a flurry of executive exits.

Moelis & Co has hiked pay by 63% and plans to hire more senior bankers, as boutique investment banks continue to unveil record years amid an unprecedented deal boom.

Tax season is underway — and the IRS is warning of a likely increase in scams targeting taxpayers.

Disclaimer: The text below is an advertorial article that was not written by Cryptonews.com journalists.

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In the cryptocurrency world, news about skyrocketing prices and valuations mostly elicits shrugs. But Ripple’s rise has raised hackles and disbelief. 

Call it the ripple effect of news. (See also: How Do I Buy Ripple (XRP) Cryptocurrency?)

Different institutions across the globe have expressed interest in joining the crypto-train. On 7 February, DriveWealth, the SoftBank-backed start-up entered the cryptocurrency industry by launching two subsidiaries. However, with the rise in institutions offering crypto services, this doesn’t come as a total surprise. But, here’s how this could prove to be an important development.

LONDON—For developing countries, the Federal Reserve’s battle to squelch U.S. inflation with a series of rate increases this year stirs a mix of hope and anxiety.

Many see government's announcement as an acknowledgment of crypto industry as emerging asset class

The Federal Reserve is poised this week to release a paper soliciting public comment about central bank digital currencies (CBDCs), according to a report in The Wall Street Journal.The paper was scheduled to be released earlier in the summer but was delayed. It represents the central bank's first concrete step forward in exploring the use of digital currencies in the U.S. economy and could pave the way for a Fed-backed digital dollar.

The Federal Reserve Board (FRB) released a discussion paper on Jan. 20, 2022, that looks into the pros and cons of creating a central bank digital currency (CBDC) for the United States. The paper invites comment from the public and does not favor any particular policy outcome. The Fed indicates that the paper is simply an initial step in determining whether and how a CBDC could improve the domestic payments system while keeping it safe and effective.

Besides their seemingly enormous potential for profit by everyday investors, cryptocurrencies and blockchain networks also have a seedier appeal as well. The anonymity provided by decentralized networks has enticed criminals of various sorts; some currencies and exchanges have been plagued by hacks and other nefarious activity. Now, a report by Cointelegraph suggests that a study from Germany's Goethe and Aachen Universities has unearthed eight files that show or link to sexual content, hidden within the blockchain for bitcoin, the world's largest cryptocurrency. There have been allegations that some of these image might link to child pornography, but Bitcoin Core developer Peter Todd told Cointelegraph that any links to child porn sites were found to be dead links.

The Office of the Comptroller of the Currency (OCC) has issued an interpretive letter allowing federally chartered banks to use stablecoins, or cryptocurrencies with relatively stable prices, for standard banking transactions like payment activities. The letter further states that banks can participate in validating stablecoin transactions or Independent Node Verification Networks (INVN) in a blockchain.

The revolutionary technology blockchain began with cryptocurrencies like bitcoin but has since expanded beyond the worlds of finance and banking. With a slew of new businesses and applications built on the technology, these industries now represent a mass decentralization that will soon impact the whole world. Blockchain helps distribute the cost of running a platform to its various participants, but rewards them for it in equal measure.