Powell acknowledged that the labor market is cooling and inflation is improving, hinting that a rate cut is possible but remaining noncommittal about the timing. Citigroup expects the Fed to cut interest rates eight times in a row starting in September amid signs of an economic slowdown.
ZeZhengAre cryptocurrencies securities products? The protracted legal battle over cryptocurrency regulation in the United States continues.
JinseFinanceA group of former Citigroup executives, in collaboration with prominent investors, plans to launch Bitcoin-backed securities, avoiding the need for SEC approval. The innovative Bitcoin depositary receipts, introduced by Receipts Depositary Corporation, aim to provide institutional access within the regulated U.S. market. Despite the ongoing anticipation for spot Bitcoin ETF approval, RDC positions its offering as a strategic complement to potential ETFs, with support from key investors. As Bitcoin surpasses $45,000, market attention remains focused on regulatory developments, with insights suggesting the SEC may be seeking further evaluation rather than outright denial.
BerniceXRP is printing a stagnant price performance as a major bank reportedly reevaluates its partnership with a company Ripple purchased earlier this year for $250 million.
dailyhodlThe move marks a strategic shift by Citigroup, which so far has avoided the crypto space.
BeincryptoKech announced his departure from Citi (C) earlier this week on his LinkedIn page adding that he starting a "new exciting challenge in November."
CoindeskThe new head of digital assets at Citi's institutional arm will focus on seeking connections and investments with clients, startups and regulators.
Cointelegraph