As more consumers embrace mobile apps and digital wallets, traditional banking, with its in-person visits and waiting in long lines, is gradually becoming a thing of the past. Over the past few years, we’ve witnessed a fundamental shift in how people manage their money. In 2024, over 60% of banking customers in the U.S. and
Ripple, the blockchain-based payments firm behind XRP XRP/USD, is raising fresh concerns over the UK’s sluggish approach to crypto regulation, arguing that it’s leaving British banks unwilling to engage with digital assets. What Happened: At a policy summit held in London, Cassie Craddock, Ripple’s Managing Director for the UK and Europe, said that the country’s
The Treasury Department took action against a Houthi financial network, imposing sanctions on cryptocurrency wallets used by the Iran-backed militant group to fund its war machine. What Happened: According to a Wednesday press release, the Department of the Treasury’s Office of Foreign Assets Control identified eight digital wallets used by the Yemen-based group to help procure millions worth of
The financial markets experienced a sharp sell-off last Friday as concerns over inflation and trade tensions sent stocks tumbling. Wall Street struggled with renewed inflation pressures, while uncertainty surrounding tariffs contributed to heightened volatility. Stock Market Sell-Off: Key Drivers The Dow Jones Industrial Average fell 1.6%, shedding over 700 points. The S&P 500 dropped 2%,
Following the $1.5 billion Bybit hack—the largest crypto theft to date—the entire crypto industry was forced to take a hard look in the mirror, confronting the critical vulnerabilities it still faces. However, the incident also showed how coordinated the public and private sectors can be—more than $40 million in stolen funds were frozen, with Chainalysis
Digital banking platform, Dave Inc. DAVE has been on a fiery streak in recent months, up 121% since Nov. 2024. However, according to leading Wall Street analysts, the California-based bank is only just getting started, with plenty of growth in the years ahead. What Happened: Analysts see strong upside in the stock, with almost all