We have to be in the crypto space, Mastercard CEO says

Traditional card networks are vying to ensure their services remain at the center of new developments in digital assets, whether they be central bank digital currencies or private sector stablecoins. In an earnings call on July 29, Mastercard CEO Michael Miebach discussed recent developments in crypto and CBDCs, making the pitch that the company was well-positioned to remain a linchpin of intra- and international value flows: “What we believe we do is bring a perspective to the market as a multi-rail payment provider. We have to be in this space because…

Vontobel’s wealthy clients are interested in crypto, says CEO

Zeno Staub, CEO of Swiss private banking and investment management giant Vontobel, has revealed that some of the company’s wealthy clients have crypto exposure. Speaking to Bloomberg on Tuesday, Staub stated that Vontobel’s clients have an interest in cryptocurrencies. According to Staub, blockchain technology will have a profound impact on global finance. As part of the interview, the Vontobel CEO described the novel tech as the “Logic consequence of the general trend securitization because it is the only available technology that can create trust without a central counterparty.” Commenting on the bank’s…

Nuggets News CEO under fire over alleged unpaid loans and investment funds

Alex Saunders, the popular crypto influencer behind Nuggets News, is facing a slew of claims he failed to repay crypto loans, along with allegations that funds invested in a new project had been redirected to a crypto exchange. Saunders is one of the most highly regarded Australian crypto educators. He provides a paid service and he has 140,000 subscribers on YouTube. Over recent days, crypto Twitter has been ablaze with allegations that Saunders has run out of capital. Numerous individuals including YouTuber Bitboy claim that Saunders personally owes them multiple…

Binance will ‘work with regulators’ as it expands, says CEO

Changpeng Zhao, the chief executive officer of Binance, has said he wants the major cryptocurrency exchange to work with local regulators as it establishes regional headquarters. According to a Tuesday report from Reuters, Zhao, also known as CZ, hinted Binance would depart from its decentralized approach to finance and coordinate with regulators as the company expands. “We want to be licensed everywhere,” said CZ. Zhao also reiterated that he would be willing to step down as CEO should someone “with a strong regulatory background” be available. Last week at a…

Cryptocurrency is ‘pure trading instrument,’ hedge fund CEO says

Not all hedge fund managers are sold on crypto as Man Group CEO Luke Ellis has compared cryptocurrencies to tulip bulbs. Speaking to the Financial Times, Ellis remarked that the utility of crypto comes from its volatility, thus presenting the asset class as a viable trading opportunity. According to the CEO of the world’s largest publicly-traded hedge fund: “If you look at cryptocurrencies as a whole, it is a pure trading instrument. There is no inherent worth in it whatsoever. It is a tulip bulb.” Despite being an outmoded comparison,…

Crypto is an ‘untested asset category,’ says UBS CEO Ralph Hamers

Ralph Hamers, CEO of Swiss bank UBS, has said he does not fear missing out on crypto. Speaking to Bloomberg on Tuesday, Hamers said, “Clients are looking at different alternatives, and they hear about crypto, and there is a bit of a fear of missing out as well. They read it in the papers, but they also see the volatility.” Commenting on the bank’s approach to providing exposure to crypto for its wealth management clients, the UBS CEO stated: “We don’t offer it actively […] We feel that crypto itself…

Osprey Funds CEO says US will approve Bitcoin ETF in 2022 ‘at earliest’

The CEO of Osprey Funds — the issuer of over-the-counter Bitcoin trust OBTC —isn’t holding his breath for a Bitcoin (BTC) exchange-traded fund (ETF) approval in the United States this year. Speaking to Yahoo Finance’s Jared Blikre and Seana Smith on July 19, Greg King said he believes that the U.S. Securities and Exchange Commission (SEC) under the leadership of Gary Gensler has so many things on its plate in 2021 that a BTC ETF approval is unlikely to make the cut. King recalled the hype in the crypto industry surrounding…

Grayscale ‘100% committed’ to turning GBTC into Bitcoin ETF — CEO

The head of crypto investment giant Grayscale believes that only a “couple of maturation points” separate the United States from its first Bitcoin (BTC) exchange-traded fund (ETF). Speaking to CNBC on July 19, Michael Sonnenshein reiterated that a U.S. ETF is a matter of “not ‘if,’ but ‘when.’” Sonnenshein: “If, not when” for U.S. Bitcoin ETF  Regulators currently have 13 ETF applications under consideration, and the U.S. lags behind neighboring Canada when it comes to giving them the green light. Years of applications and rejections have gone by, and some…

Crypto offers more freedom, Coinbase CEO responds to DOGE creator

Brian Armstrong, a co-founder and CEO of Nasdaq-listed cryptocurrency exchange Coinbase, took to Twitter to respond to a recent attack on crypto by Dogecoin (DOGE) co-creator Jackson Palmer. In a Twitter thread on Thursday, Armstrong pointed out some of the biggest benefits of cryptocurrencies like Bitcoin (BTC), stressing that crypto is “simply providing an alternative for people who want more freedom.” The CEO emphasized that one’s stance on the crypto industry depends on a perspective, elaborating that people who want more control from financial regulators are free to enjoy the…

DoubleLine CEO sees Bitcoin buy moment at $23K, predicts US dollar will drop ‘pretty substantially’

Jeffrey Gundlach, the CEO of investment management firm DoubleLine, implied that Bitcoin could see more favorable activity in the long term than that of the U.S. dollar. In a Wednesday interview on CNBC’s Halftime Report, Gundlach said he believed people would be able to purchase Bitcoin (BTC) for under $23,000 soon given the likelihood of the crypto asset forming a head-and-shoulders trading pattern. He was seemingly referring to a “head” when the BTC price peaked at more than $64,000 on April 13 and the shoulders as the early January surge…