U.S. State Banking Groups Plan Nationwide Blockchain Network by 2027

·44 views

A coalition of U.S. state banking associations is working to establish a blockchain network called the BankChain Alliance. The initiative is targeting a 2027 launch date. The network is designed to support stablecoins, payments, and tokenized deposits within the existing banking regulatory framework. The goal is to bring these digital financial tools under the oversight of established banking institutions rather than outside them.

Read the full story at CoinDesk

This is an AI-generated summary. ShortSingh links to the original source for the complete article.

Discussion (0)

Fink Says Data Center Construction Pause Could Trigger US Recession

BlackRock CEO Larry Fink has warned that a moratorium on data center construction in the United States could push the economy into recession. He also raised concerns about the country's national debt, which he noted has surpassed $40 trillion. The comments highlight how heavily the economy now relies on data center investment. The source article does not provide further details on the timing or specifics of any proposed moratorium.

0 comments Read more at CoinDesk

Crypto & Web3CoinDesk ·

Nearly $1 Billion in Crypto Bets Liquidated as Bitcoin, Ether and XRP Fall

Roughly $1 billion in leveraged cryptocurrency positions were forced to close as bitcoin, ether and XRP prices declined. Ether made up nearly 60% of these forced liquidations across the two largest cryptocurrencies. The ether price dropped about twice as sharply as bitcoin during the slide. Forced closures occur when traders' leveraged positions fall below required margin levels, amplifying market moves. The article does not specify the exact date or the precise size of each asset's decline.

0 comments Read more at CoinDesk

Crypto & Web3CoinDesk ·

Binance Pool Shutting Down After Bitcoin Hashrate Falls 65%

Binance Pool, which once handled about 2.3% of the Bitcoin network's computing power, is shutting down. Its hashrate has dropped from roughly 26 EH/s in December to about 9 EH/s. Remaining miners must move to another mining provider before the November 10 deadline.

0 comments Read more at CoinDesk

Crypto & Web3CoinDesk ·

Bitcoin slips as Fed rate uncertainty weighs; Kospi drops 8%

Bitcoin declined as investors grew uneasy about the Federal Reserve's interest rate path. Following Wednesday's inflation report, market bets on an October Fed rate hike briefly climbed to nearly 50%. Those expectations have since eased back. The article also notes an 8% plunge in South Korea's Kospi index. The report provides no further detail on the specific drivers behind the Kospi decline.

0 comments Read more at CoinDesk