Bank of America (BoA) experienced a widespread technical glitch on Oct. 2, affecting thousands of online banking customers. Issues reported included customers unable to access their accounts, online accounts showing zero balances, and problems with online banking, mobile apps, and some ATMs. Where is My Money? Angry customers flocked to social media to complain about...Read More
Leading U.S. investment platforms Meryll Lynch and Wells Fargo are now offering clients access to Bitcoin spot ETFs despite initially hesitating on the move. As reported by Bloomberg, the firms are offering the ETFs to certain wealth management clients who specifically request the product, which allows clients to directly invest in BTC through an ETF...Read More
Bitcoin has shown tremendous resilience this year, surging past $30,000, raking in over 80% in YTD gains. But data suggests that there could be more room for growth. The flagship cryptocurrency surpassed major asset classes in an impressive turnaround from the market-wide rout just a year ago. Bitcoin Outflows to Personal Wallets Bank of America...Read More
Two-thirds of the polled American investors, aged between 21 and 42, believe it is impossible to achieve above-average returns relying only on traditional finance. Instead, they see cryptocurrencies as appropriate tools for the job. Numerous previous researches have shown that younger generations are much more inclined toward the digital asset sector than older individuals. At...Read More
Many investors are already talking about how long this crypto winter could last. Still, according to Bank of America, most retailers are waiting for the ideal time to buy cryptocurrencies as soon as this year. A survey of 1,000 people conducted in early June by Bank of America (BAC) found that 90% of respondents were...Read More
Brian T. Moynihan – the CEO of Bank of America – recently confirmed that the company will not be offering crypto-related services in the near future. Though he acknowledged the importance of digital payments in today’s economy, he claimed that regulatory roadblocks prevent the bank from foraying deeper into the industry. A Hostile Regulatory Climate...Read More
An executives team from the Bank of America will run a development unit for Cooper Technologies as the latter wants to build prime brokerage platforms focusing on digital assets, citing enhanced demand from institutional investors. As reported by Bloomberg, the London-based digital asset custodian hired the former BofA executives to meet the growing demand from...Read More
Chainlink – a blockchain oracle service provider – now has over $60 billion deposited into smart contracts. A recent analysis from Bank of America claims that the network will drive blockchain adoption across the gaming, gambling, and insurance industries, among others. Chainlink Driving Defi Growth According to a research report released on Wednesday, the firm...Read More
Although US authorities continue to dabble with the idea of issuing their own central bank digital currency, the Bank of America believes such a product is “inevitable.” Additionally, researchers from the large banking organization see stablecoins continue to flourish and take a massive role in the monetary system. Inevitable US CBDC? CBDCs are a growing...Read More
Alkesh Shah – analyst at Bank of America – predicted Solana could continue to steal some of Ethereum’s market share as it’s easy to use and has significantly lower transaction fees. The strategist further asserted that Solana could become “the Visa” of the cryptocurrency industry. High Hopes for Solana Solana has been one of the...Read More
Bank of America has published its report “Digital Assets Primer: Only the first inning,” led by Alkesh Shah, head of Global Cryptocurrency and Digital Asset Strategy, providing an in-depth analysis of the current state of the blockchain industry from cryptocurrencies to DeFi and NFTs. The report says that the industries of cryptocurrencies and decentralized finance...Read More
After years of bashing Bitcoin, one of America’s largest banking establishments – Bank of America – seems to have completed its 180-turn. The organization has purportedly approved the trading of BTC futures. Citing two sources familiar with the matter, CoinDesk reported that the Wall Street behemoth will enable some of its customers to trade BTC...Read More
Just a few months after bashing bitcoin for its enhanced volatility and supposed impracticality, Bank of America has reportedly set up a new designated research team to look into digital assets. Citing an internal memo, Bloomberg reported earlier that the giant US multinational investment bank is the next in line to join the cryptocurrency bandwagon....Read More
Trading above $35,000, Bitcoin continues to pass milestone after milestone as reports show that the cryptocurrency received the most capital inflow this month compared to tech stocks and traditional investments. Long Bitcoin Wins Most Crowded Trade A recent survey conducted by the Bank of America on fund managers with over $500 billion in AUM reveals...Read More
Recently surfaced FinCEN documents revealed that some giant banks have knowingly transmitted trillions of dollars in suspicious transactions from Ponzi schemes and terrorist organizations. Names such as HSBC, Standard Chartered, Bank of America, JPMorgan Chase, and more, have been collecting significant fees while flying under the radar for years. FinCEN Documents Reveal Big Banks’ Actions...Read More
The S&P 500 lost over 30% in March in a few days of trading. The drop was primarily attributed to the spread of the novel coronavirus (COVID-19) and the effect it had on economies. The index has since recovered and gained more than 500 basis points but is still a long way to go. Now,...Read More
Bank of America (BofA) has a bullish view on gold and expects the prices of the precious metal to hit the $3,000 mark per ounce within the next 18 months, according to the bank’s latest report titled “The Fed can’t print gold.” Per the report, gold is the “ultimate store of value,” and the prices...Read More
As the trade war between the U.S. and China continues to rage, US stocks including the Dow Jones, Nasdaq and the S&P 500 are currently taking a hit affecting retail stocks with no current hope for recuperation. The fires heating up the trade war between U.S. and China which has been going on for quite...Read More
The vast cash hoard of Warren Buffett’s company, Berkshire Hathaway Inc., has been vaster only once before – just before the worst financial crisis since the Great Depression. Warren Buffett’s big pile of cash could act as a warning to other investors that stock market is becoming overvalued and that its crash is pretty near....Read More
Bank of America is creeping into the crypto space and has filed a patent application for a blockchain crypto wallet. | Source: Shutterstock By CCN Markets: Bank of America (BofA) continues its steady creep into the crypto world, filing another blockchain-related patent application. This new one is particularly interesting because it’s for a crypto wallet....Read More
Noah Kerner, the CEO of Acorns, anticipates converting niche savings app into bank option utilized by about 100 million users, while celebrities are opting for Acorns to invest in. Jennifer Lopez and Alex Rodriguez, former baseball player, are the latest dual celebrities to invest in the fintech firm Acorns Grow Inc, according to the Wall...Read More
The Cryptocurrency vs RBI case resumed the hearing today i.e on 20/8/2019 in Supreme Court, Court No. 5. According to a series of tweets by Crypto Kanoon, the counsel for IAMAI, Ashim Sood, started the session by explaining examples of various countries and states and how they went about regulating cryptocurrency. He also explained the...Read More
Bank of America is seeking to patent a “partitioned” security system for digital currency wallets that gives different users different levels of access to the stored funds. The second-largest U.S. bank, based in Charlotte, N.C., filed an application entitled “Multi-Tiered Digital Wallet Security” with the United States Patent and Trademark Office (USPTO) in February 2018. The...Read More
