Provident Financial News

Chinese banks will let their customers pay for more wealth management products using the digital yuan, as the nation’s central bank digital currency (CBDC) continues to branch out.

The US Securities and Exchange Commission could take months to decide whether or not to respond to crypto exchange Coinbase’s petition for rulemaking, according to a recent court filing.

The price of Ethereum (ETH) has dropped by 6.5% in the past 24 hours, with its fall to $1,637 coming as the cryptocurrency market continues to suffer losses amid regulatory uncertainty.

Floating Point Group (FPG), a crypto prime brokerage, has suspended all withdrawals, deposits and trading on its platform after suffering from a $15 million cyberattack over the weekend.

The Terra Luna Classic price has fallen by 2% in the past 24 hours, although its drop to $0.00009607 today represents a 13% gain in the past fortnight, as the altcoin compensates for some of the losses caused by the SEC's recent legal actions.

The National Football League is making a big play to increase lending in underrepresented communities.

Digital asset tracking firm, Elliptic, has revealed that losses suffered by users of Atomic Wallet have escalated to more than $100 million.

LONDON — British digital bank Zopa is beefing up its management team with a couple of senior hires, as the company looks to fuel growth and prepare its business for an eventual public listing.

The South Korean crypto lending platform Delio says it is “temporarily” suspending deposits and withdrawals, as financial regulators say they are “investigating” the situation.

In a recent development, a federal judge in Delaware has ruled in favor of Galaxy Digital, the crypto merchant bank led by Mike Novogratz.

Popular culture depicts publicists as soulless spin doctors who will sell their mother if it means landing a feature in The Wall Street Journal. While it’s true that any serious PR pro is ambitious about earning coverage for clients, the idea that we are unshackled by ethics and objectivity is nonsense. PR is about connections, and integrity means lasting relationships with journalists. 

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BEIJING — U.S. Secretary of State Antony Blinken is set to travel to Beijing this weekend in his first trip to China under the Biden administration.

While a final decision on issuing a digital euro has yet to be made, the ECB has been busy investigating options ahead of a potential launch, which would come in 2026 at the earliest.Last year, the central bank began working with five companies - Nexi, CaixaBank, Amazon, Worldline and EPI - to provide front-end prototypes to test different payment use cases.Nexi was chosen for the point-of-sale payments initiated by the payee use case. Updating on the effort, it says that it integration with the existing payment landscape is possible and that a digital euro would work both online and offline, using independent designs, thus increasing the resilience. Roberto Catanzaro, chief business officer, merchant solutions, Nexi, says: "An engaging user and merchant experience is paramount to ensure wide adoption of the digital euro and we have brought our best expertise in both acceptance and mobile payments technologies to set a clear way forward."

The Shiba Inu price has dropped by 4% in the past 24 hours, falling to $0.00000656 as the cryptocurrency market continues to weather the storm caused by the SEC's recent actions against Binance and Coinbase.

The past week saw the forthcoming Markets in Crypto Assets (MiCA) regulation formally published in the EU's official journal, marking a significant milestone for regulation in the crypto space.

BCB Group’s founder and CEO, Oliver von Landsberg-Sadie comments: “Whilst we still believe in the team at Sutor and their innovative platforms, ultimately we recognise that in today’s market, unrecognisable compared to the 2021 market, we can each serve our clients on our own foundations more effectively than via the deal originally agreed.

The Federal Reserve's decision to keep interest rates unchanged and their projection of potential rate hikes later this year have significant implications for the financial markets. 

Circle’s founder Jack Dorsey has decided to inject some $5 million into Bitcoin non-profit Brink, providing the organization with funds to finance its support for independent BTC developers. 

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