The New Jersey Crypto News
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Dogecoin
    • All Alt Coin
  • Learn
    • Learn

      How to Trade Futures Contracts on Changelly PRO

      11/14/2021

      Learn

      EtherLite (ETL) Cryptocurrency Price Prediction

      11/12/2021

      Learn

      How to Trade Bitcoin Futures

      11/12/2021

      Learn

      How to Start Trading Cryptocurrency

      10/21/2021

      Learn

      How to Create Your Own Cryptocurrency

      10/13/2021

  • Analysis
    • Analysis

      Bitcoin is Struggling, But It’s Too Early to Say Bulls Have Given Up

      12/29/2021

      Analysis

      Sushi Up 17% Amid DeFi 2.0 Rescue Rumors

      12/29/2021

      Analysis

      Ethereum Recovery Could Soon Fade If ETH Fails To Surpass $4k

      12/28/2021

      Analysis

      Charles Hoskinson Shares Cardano Plans for 2022

      12/28/2021

      Analysis

      Bitcoin Prints Bullish Pattern, Why BTC Could Surge To $50K

      12/27/2021

  • Blockchain
    • Blockchain

      Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

      12/29/2021

      Blockchain

      Italian Sports Car Maker Ferrari Inks Multi-Year Deal With Blockchain Firm Velas Network AG…

      12/29/2021

      Blockchain

      ProShares Files for New Metaverse ETF With U.S. SEC

      12/28/2021

      Blockchain

      Ozzy Osbourne Reveals Cryptobatz NFT Project Paying Tribute to His Iconic Bat Bite –…

      12/28/2021

      Blockchain

      Binance Trading Platform Licenses in Bahrain, Canada

      12/28/2021

  • Market Cap
Ripple

Bitcoin, Ethereum, And XRP Slide As Bank Of America Establishes Its Own Dedicated Crypto Research Team ⋆ TCNW

by Miki 07/19/2021
by Miki 07/19/2021 0 comment

Bitcoin, Ethereum, And XRP Slide As Bank Of America Establishes Its Own Dedicated Crypto Research Team

Advertisement

&

&

Bank of America, the second-largest bank in the U.S., is delving further into the crypto industry. The bank has created a research team in a bid to capitalize on investors’ growing interest in digital currencies, a report by Bloomberg reveals.

It was a sea of blood on the crypto markets on Thursday. The bitcoin price is holding at about 5.51% decline, trading at $32,809.57. The cryptocurrency fell from around $35,077 on Wednesday to the $32,000 zone. At the time of publication, BTC looks poised to retest $30,000 as sellers remain firmly in control.

BTCUSD Chart By TradingView

The world’s second-largest cryptocurrency, Ethereum, is also considerably down having incurred a 9.43% drop during Thursday trading. Further down the top 20, cryptocurrencies suffered significant hits with Ripple’s XRP down by over 6.54% while Polkadot (DOT) scrapped 11.02% of its value on a 24-hour adjusted time frame.

BoA Reportedly Sets Up Crypto Research Team

An internal memo exclusively seen by Bloomberg indicates that BoA has already created a cryptocurrency research team led by Alkesh Shah, a founding member of the bank’s data and innovation strategy group. The team will also research technologies related to cryptocurrencies and report back to Michael Maras, head of the bank’s global fixed-income, currencies, and commodities research team.

Bank of America’s head of global research, Candace Browning, said in the memo that cryptocurrencies are now “one of the fastest-growing emerging technology ecosystems.”

Advertisement

&

&

“We are uniquely positioned to provide thought leadership due to our strong industry research analysis, market-leading global payments platform and our blockchain expertise,” Browning added.

A spokeswoman from the multinational bank confirmed the news but did not divulge more details about the cryptocurrency research project.

Are Things Changing At B of A?

Bank of America has toyed with blockchain — the technology underpinning bitcoin — for years now. The bank has filed multiple blockchain-related patents as well as hiring for a growing number of blockchain positions.

Even so, BoA has continued to dismiss cryptocurrencies. In March, the bank published a paper describing bitcoin as “too volatile and impractical”, adding that the flagship cryptocurrency has completely failed as a store of value. 

Moreover, the bank’s CEO Brian Moynihan reaffirmed during a congressional grilling in May that the ban on cryptocurrency transactions is still intact. “Currently, we do not lend against cryptocurrencies and do not bank companies whose primary business is cryptocurrency or the facilitation of cryptocurrency trading and investment,” he said at the time. 

Now, however, Bank of America appears to be on a path to dive deeper into crypto, albeit rather slowly. Its Wall Street peers Goldman Sachs, Morgan Stanley, and JPMorgan have recently expanded their cryptocurrency ambitions. 

Bank of America’s new team devoted entirely to researching cryptocurrencies suggests that the megabank could be experiencing a radical change of heart.

Source link

Views: 0
AmericaBankBitcoinCryptoDedicatedEstablishesEthereumResearchSlideTCNWTeamXRP
Share
0
FacebookTwitterPinterestEmail
previous post
This Mega-Whale Purchased Around 30,000 Bitcoins (BTC) Over the Last Weekend
next post
Ethereum DeFi Ecosystem Has Hit 3 Million Users

Related Posts

Why Solana, Dogecoin, XRP, Shiba Inu, and Cardano...

12/28/2021

Garlinghouse Shakes Off SEC’s “Antics” Towards Ripple and...

12/24/2021

Will ‘Dogefather’ Elon Musk Look In The Direction...

12/22/2021

XRP Creator Chris Larsen Proposes Strategy To Incentivize...

12/20/2021

Why Former SEC Chair Clayton Refused To Comment...

12/18/2021

More Wins For XRP and Ripple? SEC Reportedly...

12/16/2021

Ripple And XRP Prone To More Wins As...

12/14/2021

Ripple’s Co-Founder Comes Up With A Genius Way...

12/12/2021

Ether Next To Be On SEC’s Purview If...

12/08/2021

SEC vs. Ripple – Kevin O’Leary Reveals Why...

12/02/2021

Leave a Comment Cancel Reply

Save my name, email, and website in this browser for the next time I comment.

For security, use of Google's reCAPTCHA service is required which is subject to the Google Privacy Policy and Terms of Use.

I agree to these terms.

Recent Posts

  • Are Solana’s bulls really strong enough to halt further decline

    12/29/2021
  • Elon Musk thinks this individual could be the potential Bitcoin (BTC) creator Satoshi

    12/29/2021
  • Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

    12/29/2021
  • Bitcoin is Struggling, But It’s Too Early to Say Bulls Have Given Up

    12/29/2021
  • Sushi Up 17% Amid DeFi 2.0 Rescue Rumors

    12/29/2021

Categories

  • All Alt Coin (2,280)
  • Analysis (312)
  • Bitcoin (1,302)
  • Blockchain (1,068)
  • Dogecoin (700)
  • Ethereum (304)
  • Learn (139)
  • Ripple (149)

About Us

About Us

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, blockchain, Market, and more.

Featured Posts

  • Ethereum Outperforms Bitcoin, What Could Extend Gains Above $4K

  • Binance Registers Massive 14,550.78 Bitcoin Inflow, Will BTC Price Dip Below $30k?

  • Uniswap V3 deploying on Polygon has this impact on UNI prices

Recent Posts

  • Are Solana’s bulls really strong enough to halt further decline

  • Elon Musk thinks this individual could be the potential Bitcoin (BTC) creator Satoshi

  • Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

Categories

  • All Alt Coin (2,280)
  • Analysis (312)
  • Bitcoin (1,302)
  • Blockchain (1,068)
  • Dogecoin (700)
  • Ethereum (304)
  • Learn (139)
  • Ripple (149)
  • Facebook
  • Instagram
  • Linkedin
  • Contact
  • Privacy Policy
  • Terms & Conditions

@2021 -thecryptonewsweb.com - All Right Reserved.

The New Jersey Crypto News
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Dogecoin
    • All Alt Coin
  • Learn
    • Learn

      How to Trade Futures Contracts on Changelly PRO

      11/14/2021

      Learn

      EtherLite (ETL) Cryptocurrency Price Prediction

      11/12/2021

      Learn

      How to Trade Bitcoin Futures

      11/12/2021

      Learn

      How to Start Trading Cryptocurrency

      10/21/2021

      Learn

      How to Create Your Own Cryptocurrency

      10/13/2021

  • Analysis
    • Analysis

      Bitcoin is Struggling, But It’s Too Early to Say Bulls Have Given Up

      12/29/2021

      Analysis

      Sushi Up 17% Amid DeFi 2.0 Rescue Rumors

      12/29/2021

      Analysis

      Ethereum Recovery Could Soon Fade If ETH Fails To Surpass $4k

      12/28/2021

      Analysis

      Charles Hoskinson Shares Cardano Plans for 2022

      12/28/2021

      Analysis

      Bitcoin Prints Bullish Pattern, Why BTC Could Surge To $50K

      12/27/2021

  • Blockchain
    • Blockchain

      Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

      12/29/2021

      Blockchain

      Italian Sports Car Maker Ferrari Inks Multi-Year Deal With Blockchain Firm Velas Network AG…

      12/29/2021

      Blockchain

      ProShares Files for New Metaverse ETF With U.S. SEC

      12/28/2021

      Blockchain

      Ozzy Osbourne Reveals Cryptobatz NFT Project Paying Tribute to His Iconic Bat Bite –…

      12/28/2021

      Blockchain

      Binance Trading Platform Licenses in Bahrain, Canada

      12/28/2021

  • Market Cap
  • RelevantRelevant(REL)$0.825.35%
  • Heart NumberHeart Number(HTN)$0.000553-30.47%
  • TadpoleTadpole(TAD)$7.32-1.76%
  • SEENSEEN(SEEN)$2.05-2.27%
  • EvedoEvedo(EVED)$0.082301-0.80%
  • MarginswapMarginswap(MFI)$0.184214-2.17%
  • SakeTokenSakeToken(SAKE)$0.0127234.37%
  • WTF TokenWTF Token(WTF)$0.0113500.16%
  • BNSD FinanceBNSD Finance(BNSD)$0.005460-5.83%
  • RobotinaRobotina(ROX)$0.00266138.50%
  • CageCage(C4G3)$0.005010-3.67%
  • YAM v2YAM v2(YAMV2)$4.70-1.41%
  • PolkaBridgePolkaBridge(PBR)$0.439876-7.02%
  • DSLA ProtocolDSLA Protocol(DSLA)$0.003681-6.85%
  • lympoLympo(LYM)$0.004392-4.43%
  • Falcon ProjectFalcon Project(FNT)$0.000366-2.23%
  • DYORDYOR(DYOR)$0.00002020.53%
  • TICOEX TokenTICOEX Token(TICO)$0.0013640.52%
  • MMS Cash TokenMMS Cash Token(MCASH)$1.000.00%
  • bitcoinBitcoin(BTC)$30,166.000.73%
  • ethereumEthereum(ETH)$2,050.46-0.23%
  • tetherTether(USDT)$1.000.13%
  • usd-coinUSD Coin(USDC)$1.000.09%
  • binancecoinBNB(BNB)$300.041.51%
  • rippleXRP(XRP)$0.424058-0.18%
  • cardanoCardano(ADA)$0.585.83%
  • SolanaSolana(SOL)$54.934.88%
  • Binance USDBinance USD(BUSD)$1.010.04%
  • polkadotPolkadot(DOT)$11.07-0.13%
  • dogecoinDogecoin(DOGE)$0.088850-0.22%
  • AvalancheAvalanche(AVAX)$33.35-2.62%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$30,056.000.76%
  • Lido Staked EtherLido Staked Ether(STETH)$2,011.510.06%
  • tronTRON(TRX)$0.0694790.69%
  • Shiba InuShiba Inu(SHIB)$0.000012-1.58%
  • VectoriumVectorium(VECT)$425.81-3.49%
  • daiDai(DAI)$1.000.02%
  • Power CashPower Cash(PRCH)$0.017570881.24%
  • AlexAlex(ALEX)$0.068435-0.04%
  • CronosCronos(CRO)$0.1920391.78%
  • litecoinLitecoin(LTC)$67.60-1.77%
  • LADZLADZ(LADZ)$0.0686894.36%
  • matic-networkPolygon(MATIC)$0.691.49%
  • NEAR ProtocolNEAR Protocol(NEAR)$6.770.70%
  • leo-tokenLEO Token(LEO)$4.94-0.60%
  • FTX TokenFTX Token(FTT)$31.770.83%
  • HederaHedera(HBAR)$0.389473-3.44%
  • bitcoin-cashBitcoin Cash(BCH)$203.03-3.14%
  • RareRare(RARE)$0.0461220.00%
  • chainlinkChainlink(LINK)$7.482.83%