Tag: banks

Despite the so-called FUD, Changpeng Zhao said in reality, the crypto industry has scored a number of massive wins in recent weeks. Binance co-founder and CEO Changpeng “CZ” Zhao has hosed down recent rumors against his firm, assuring its balance sheet and employee retention remain robust despite the recent market uncertainty. In a Sept. 7…

The Coinbase earnings report shows that services and subscriptions are the exchange’s core revenue streams. Is this a positive or a negative? Coinbase, a leading U.S. cryptocurrency exchange, shared its second-quarter results on Aug. 3. Despite showing a net loss, some positives emerged, like a 13% cut in operating expenses from the last quarter and…

Among the 300 finance professionals surveyed across 45 countries, 97% believe that blockchain will play a crucial role in faster payment systems within the next three years. Blockchain has the potential to save financial institutions approximately $10 billion in cross-border payment costs by the year 2030, according to a recent report. Published by digital payment network…

PacWest shares crashed 27% before recovering on a rescue acquisition by the smaller Banc of California. Shares in PacWest bank flash crashed by 27% on July 25 only to quickly recover in after-hours trading on the news it had merged with the Banc of California. PacWest Bancorp (PACW) stock slumped from $10.33 to $7.50 in…

Several top banks around the world are already collaborating with Chainlink to explore applications for the Cross-Chain Interoperability Protocol. The development firm behind the Chainlink protocol and its native token has gone live with its cross-chain protocol, aimed at providing interoperability between traditional financial firms and both public and private blockchains. In a July 17 post on…

SEBA Bank exec Nasha Afshar believes that the question of institutions getting into crypto has shifted from “if” to “when,“ indicating growing confidence in the industry. As more institutions go from only showing their interest in the crypto space into actually investing in Web3 projects, getting into crypto turns into a question of “when” rather…