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Citigroup Helping World Governments Build Digital Currencies, CEO Says

Citigroup Helping World Governments Build Digital Currencies, CEO Says

Michael Corbat’s multinational banking giant has been calling digital currency all but inevitable since 2014.

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Binance expects to make between $800 million and $1 billion in profits for 2020, says CEO

Crypto exchange Binance is expected to turn a profit of $800 million to $1 billion this year, according to CEO Changpeng Zhao.

The post Binance expects to make between $800 million and $1 billion in profits for 2020, says CEO appeared first on The Block.

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Chinese city of Suzhou to give away $3 million in digital yuan via lottery

The Chinese city of Suzhou is launching another round of wider trial of China’s digital yuan initiative.

The post Chinese city of Suzhou to give away $3 million in digital yuan via lottery appeared first on The Block.

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Jack Ma’s Ant Group, 3 Other Digital Banks Get OK to Operate in Singapore

The approved digital banks will be able to start operating from Singapore in early 2022.

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Bolivia Essentially Banned Crypto but Blockchain Advocates Are Pushing Back

Bolivia is one of the rare countries that has essentially banned cryptocurrency, but the nation’s blockchain advocates aren’t giving up.

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First Mover: Bitcoin Below $19K and Customers Flee OKEx

OKEx appears to suffer customer outflows after lifting of five-week withdrawal suspension, highlighting the existential threat of operational risk.

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OCC Chief Hints at Coming ‘Good’ Actions on Crypto by End of Trump’s Term

Brooks hinted at a flurry of crypto clarity actions in the next 6 weeks that could drive more institutions into the asset class.

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Bitcoin Price Could Hit $50K in 2021, Bloomberg Analysts Say

“Bitcoin’s macroeconomic, technical and demand vs. supply indicators supportive of $50,000 target resistance,” according to Bloomberg.

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Russia’s Crypto Community Fears Digital Ruble Plan Means ‘Back to USSR’

Russian cryptocurrency and blockchain association warns the Bank of Russia against the excess centralization of the digital ruble

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Ripple CTO Says Majority Vote Would Force the Burning of Billions in XRP

The Ripple exec was responding to a question asking whether a majority vote could force the destruction of XRP held in escrow.

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