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JPMorgan loses 3 executives to crypto industry jobs
Several top executives of traditional firms have left their jobs for web3 projects.
Oluwapelumi Adejumo 2 min read Banking News
Follow crypto banking news, de-risking, stablecoin rails, fintech partnerships, and how traditional finance is adapting to digital assets.
Coverage footprint 2.7%
7D News sentiment 50 /100
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Oluwapelumi Adejumo 2 min read 
Banking
The case for Bitcoin strengthens as Chinese bank depositors riot over frozen accounts
Angry crowds gathered in Zhengzhou demanding access to their bank deposits. Some say self custody of Bitcoin is the answer.
Payments
Banking Circle adds USDC payments and fiat conversion
Banking Circle announced that it will allow payments in USDC as well as conversion of USDC to fiat currencies.
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Banks’ exposure to risky cryptocurrencies should be limited to 1%, Basel Committee proposes
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Circle inks custody deal with New York Community Bancorp
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Lending
Babel Finance suspends withdrawals due to “unusual liquidity pressures”
The crypto finance provider is pausing withdrawals and redemptions in response to harsh market conditions.
Price Watch
Fed hikes interest rate by 75 basis points; Bitcoin continues to trade above $20,000
Crypto market remained stable following the US Federal Reserve's decision to raise interest rates will be raised by 75 basis points.
Banking
Tether claps back at rumors surrounding its commercial paper portfolio
Tether stated that commercial papers constitute less than 25% of USDT’s backing, adding that it does not have lending exposures to Celsius and Three Arrows Capital.
Adoption
FTX and Goldman Sachs reportedly in talks over derivatives trading
FTX.US president Brett Harrison says major futures commission merchants are open to the exchange’s proposal.
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Stablecoins
Tether remains unshaken despite $10 billion withdrawals in 2 weeks
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BNP Paribas joins JP Morgan’s blockchain to trade tokenized bonds
Banking
Goldman Sachs says the crypto crash will have a small impact on the U.S.
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