BITCOIN

Bank of America says “digital currencies appear inevitable,” adding that central bank digital currencies (CBDCs) and stablecoins are “a natural evolution of today’s monetary and payment systems.” The bank expects “private sector beneficiaries to emerge in all phases of CBDC implementation.” Bank of America on Future of Money and Payments Bank of America (BOA)’s global research team published a report on global cryptocurrencies, digital assets, and central bank digital currencies (CBDCs) earlier this week. The bank wrote: Digital currencies appear inevitable. We view distributed ledgers and digital currencies, such as CBDCs and stablecoins, as a natural evolution of today’s monetary and payment systems. “Our view is CBDCs that leverage distributed ledger technology have the potential to revolutionize global financial systems and may be the most significant technological advancement in the history of money,” BOA described. The report explains that there are currently 114 central

The host of Mad Money, Jim Cramer, has thanked Securities and Exchange Commission (SEC) Chairman Gary Gensler for standing up to the “crypto bullies” who want the regulator to approve a spot bitcoin exchange-traded fund (ETF). Cramer has repeatedly warned about the SEC cracking down on uncompliant crypto firms, urging investors to get out of the asset class now. Jim Cramer Praises SEC Chairman Gary Gensler The host of CNBC’s Mad Money show, Jim Cramer, has thanked the chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, for not approving a spot bitcoin exchange-traded fund (ETF). Cramer is a former hedge fund manager who co-founded Thestreet.com, a financial news and literacy website. The Mad Money host tweeted Friday: Thank you, SEC Chief Gary Gensler for standing up to the crypto bullies who wanted an ETF. They could have been blown to kingdom come by Genesis Global, now filing for bankruptcy. Crypto lender Genesis Global Capital LLC is part of a subs

Morgan Stanley CEO James Gorman says two changes have happened recently that “really matter” to the economy. The executive explained that inflation has clearly peaked and China has made a “major, major pivot” economically. Morgan Stanley’s CEO on U.S. Economy and Inflation The chairman and CEO of global investment bank Morgan Stanley, James Gorman, discussed the U.S. economy and China’s relationship with the U.S. in an interview with CNBC Thursday in Davos, Switzerland. “Two things have changed recently that really matter,” he began, noting that the first concerns inflation while the second concerns China’s recent pivot economically. “The inflation numbers are better,” the Morgan Stanley chief said, emphasizing: Clearly, inflation peaked. That’s no longer a question. It’s a fact. He added that the question is can the Federal Reserve get to its 2% inflation target and “how hard will they try to get to 2% vs. stabilizing around 3%, 4%.” Regarding the Fed hiking interest rates,