Fed governor Randal Quarles resigned his position effective as of the end of December, while Richard Clarida is expected to leave in January 2022, leaving three vacancies in the group of seven serving at the Federal Reserve.
Bitcoin (BTC) is pulling back as investor excitement regarding the Taproot blockchain upgrade is starting to fade. Still, analysts expect buyers to remain active on dips as the cryptocurrency remains in a bull market.
Bitcoin (BTC) is stabilizing near the $50K support level, which is around its 200-day moving average. It appears that selling pressure is slowing after a near-20% price drop over the weekend. Resistance is near $55K-$60K.
This blockchain-enabled innovation has the potential to change the global financial system by stripping transaction costs and stepping up the fight for next-level efficiency and speed. What’s more, the whole point of DeFi is that it bypasses the need for centralized licensed custodians of money: aka, incumbent banks. What this means is that DeFi isn’t merely yet another unwelcome disruption for incumbent banks, it’s an existential threat. How could the banks address this existential threat? Are there any ways for collaboration between banks and startups? How could banks implement these technological changes? How banks are planning to address the demand of their customers?