The Art of making Bitcoin & Cryptocurrency
Record low and negative interest rates have put commercial banks in a difficult spot. Across Europe, they have been passing the burden to their clients. Some have introduced fees for those with large account balances, while others are punishing everybody equally. In any case, some bankers fear this could lead to withdrawal of large amounts […]
The post Passing the Burden of Negative Rates to Bank Clients Opens Door for Cryptocurrencies appeared first on Bitcoin News.
Unlike the unfounded narrative that cryptocurrency enables crime, big banks are more than happy to serve unsavory clients if it is lucrative enough for them. The latest example of this is a report that Jeffrey Epstein was apparently using his bank accounts to fund sex trafficking and possibly other crimes. Also Read: Deutsche Bank Collapse […]
The post Big Banks Enabled Jeffrey Epstein’s Sex Trafficking Crimes appeared first on Bitcoin News.
Banking giants are in trouble and it’s starting to show. Key players in the industry have already announced massive job cuts and executives with hefty salaries have been dismissed. HSBC, the largest bank in Europe, has revealed it plans to lay off over 4,000 employees and Citigroup is preparing to shrink its trading staff slashing […]
The post Big Banks, Big Troubles: HSBC, Deutsche, Societe, and Citi Lay Off Thousands Worldwide appeared first on Bitcoin News.
With the recent Union Bank of Switzerland (UBS) announcement that even more customers will be charged to hold money in their banks, people are scrambling to find ways to preserve their wealth, while USB and others scramble to dam the losses resulting from national negative interest rate policy (NIRP). The relatively recent experiments with NIRP […]
The post Owning Fiat Just Got More Expensive – NIRP Strikes Again appeared first on Bitcoin News.
Shenzhen issued nearly 6 million blockchain invoices with a total value of $553 million since inception in August 2018
As peer-to-peer cash, it only seems logical that cryptocurrency should be deployed for P2P lending. While that application has taken time to materialize, bitcoin and other crypto assets are now increasingly fulfilling that purpose. Across the BTC, BCH and ETH networks, credit is being supplied to ordinary citizens while bypassing its traditional gatekeepers, usurping the […]
The post P2P Crypto Lending Is on the Rise appeared first on Bitcoin News.
Although it has its peculiarities, the Chinese banking sector now faces similar challenges to the west’s financial system. Dozens of small banks have been experiencing liquidity difficulties in the past few months. Observers believe the expanding problem has the potential to trigger a financial crisis that could grow into a new global meltdown. Chinese state-owned […]
The post Liquidity Difficulties in China: Second Bank Bail-Out Now Reality appeared first on Bitcoin News.
When we think of the unbanked, we envisage citizens of developing nations who lack the means and documentation to obtain access. But you don’t have to be a Mongolian goat herder to find yourself financially excluded. In the West, relatively affluent citizens are having their banking services withdrawn suddenly and without warning. Their ‘crime’? Buying […]
The post Unbanked for Buying Bitcoin: How the Financial System Criminalizes Crypto appeared first on Bitcoin News.
Will correspondent banking be phased out in favor of more instantaneous blockchain-based cross-border payment systems?
The recent seizure of a cargo ship owned by JP Morgan, a vessel loaded with 20 tons of cocaine according to latest accounts, highlighted the risks of banks’ involvement in illicit activities, inadvertent or otherwise. And although U.S. authorities released the MSC Gayane after the owner, JP Morgan’s asset management arm, and the operator, Mediterranean […]
The post Money Laundering Fines Worth Billions Help Bankers Avoid Prosecution and Unpleasant Labels appeared first on Bitcoin News.