Markets

Stablecoins Could Lure $1 Trillion in Deposits Away From Banks: Analysts

In brief Standard Chartered analysts predict stablecoins could draw $1 trillion in deposits from banks in emerging markets over the next three years. That represents 2% of aggregate deposits in high-vulnerability countries including Egypt, Pakistan, Bangladesh, Sri Lanka, Turkey, India, and Kenya. Depositors in these emerging markets are expected to adopt stablecoins even without yield…

Coins

What Next for the UK’s $7 Billion in Seized Bitcoin?

In brief The UK government is seeking to keep most of the 61,000 BTC it seized in 2018, amid civil recovery proceedings. Some figures within the British crypto industry believe any retained BTC should be kept in a strategic reserve, while others argue that the long-term holding of seized assets is at odds with UK…

Artificial Intelligence

AI Hasn’t Taken a Lot of Jobs Yet, Despite Apocalyptic Predictions: Yale Study

In brief Yale and Brookings researchers found no evidence of mass AI-driven unemployment 33 months after ChatGPT’s release. Occupational shifts rose about one percentage point above early 2000s levels, but matched typical tech transitions. High AI-exposure jobs—law, finance, customer service—showed no displacement in federal data. Three years after ChatGPT burst onto the scene, American workers…

Markets

Ethereum Briefly Hits Two-Week High of $4,500: What’s Next?

In brief Ethereum hit a two-week high of $4,500, defying recent bearish sentiment in traditional markets. Options data show a short-term bullish shift for October, but longer-term sentiment remains cautious. Analysts anticipate a bullish breakout in the fourth quarter if institutional treasuries resume their buying spree. Ethereum briefly climbed to a two-week high of $4,500…

Coins

Bitcoin Could Reach $135,000 Soon: Standard Chartered

In brief Standard Chartered’s Global Head of Digital Assets Research has argued in a research note that Bitcoin could soon reach a new all-time high, and keep climbing to $135,000. Analyst Geoff Kendrick said Bitcoin has deviated from a pattern that previously saw prices fall 18 months after the halving. Kendrick added that he expects…