Fed Dramatically Speeds Up U.S. Payments With ‘FedNow’ Service, but Downplays Any Tie to CBDCs
Some argue it would weaken crypto’s payments use case or form a bridge to a digital dollar.
Federal Reserve
Deadlines for U.S. Spot Bitcoin ETF Approvals Come Into Sight
The clock for the SEC approval process of spot bitcoin exchange-traded fund (ETF) applications will begin Wednesday after all eight applicants, including BlackRock, were listed in the Federal Register.
U.S. Added 209K Jobs in June, Missing Expectations for 230K
The unemployment rate TKTK to 3.X% versus 3.7% in June and against expectations for 3.7%.
Crypto Catalyst Watch: FOMC Minutes, Jobs Numbers Lead Busy Slate of Economic Releases
In addition, the national ISM manufacturing survey, released during the long July 4 weekend, fell to its weakest level since May 2020.
Bitcoin Prices Are Hot, but Here’s What Could Crush the Rally
BTC has proved incredibly resilient to the perils of the past year, including FTX’s demise. But there are some macroeconomic surprises that could erect obstacles to further gains.
Custodia’s Suit Against Fed Over Denial of Master Account Can Proceed, Court Rules
Custodia’s challenge of the Federal Reserve Bank of Kansas City’s decision to deny the crypto-friendly bank access to the Fed banking services can continue, a U.S. district court ruled Thursday, rejecting a Fed motion to dismiss the case. The U.S. District Court of Wyoming, however, did reject Custodia’s request that the Fed be compelled to grant it a so-called master account and membership with the Fed, Instead, Custodia must continue its claims via normal channels.
U.S. Adds 339K Jobs in May, Blowing Through Estimates for 195K; Bitcoin Steady at $27K
Continued strong gains in monthly employment figures have added to the Fed’s case for rate hikes.
The Need for Clarity in Washington – Not Just on Crypto
The recent ambiguous messaging from the Federal Open Market Committee’s meeting, which left markets struggling to interpret signals from the FOMC statement and Chair Jerome Powell’s comments, is typical of the abstruse signals that can be found in central bank policy-setting. But new tools, such as blockchain’s cryptographic verification systems, could guide policymakers’ decisions.
U.S. CPI Inflation Rises 0.1% in March, Slower Than Forecasts for 0.2%
Bitcoin rose/fell to $XX,XXX in the minutes following the report.
U.S. Adds 236K Jobs in March Versus Forecasts for 239K
Bitcoin rose/fell to $XX,XXX in the minutes following the report.