The Bank of England (BOE) governor, Andrew Bailey, has expressed concerns over the rise of banks issuing their own stablecoins. He emphasized the significant systemic risks that these stablecoins pose to the financial system. In an interview with The Sunday Times , Bailey said he “would much rather” prefer tokenized bank deposits over private stablecoins. He said that stablecoins would take “money out of the banking system” and the “credit creation world”. By advocating for tokenized bank deposits, Bailey is promoting a more integrated and regulated digital financial system, aligning with existing banking practices. “I would much rather [banks] go down the tokenized deposit streets and say, how do we digitize our money, particularly in payments,” he noted. His comments come at a time when stablecoin markets have grown from $125 billion less than two years ago to around $255 billion today, according to a latest BIS report . UK Would Not Adopt CBDC, Bailey Disagrees With the US and ECB’s Crypto Take Furthermore, the British central banker stated that England should not adopt a central bank digital currency ( CBDC ), also known as a ‘digital pound.’ He said that it would be “sensible” for the UK to rather work towards digitizing deposits. Andrew Bailey was recently appointed as the new chairman of the Financial Stability Board (FSB), an international financial regulator. Additionally, he openly disagreed with the Trump administration’s backing of stablecoins. “I would say that the US is going towards stablecoins. The European Central Bank is going towards central bank digital currency. Neither of them is going towards tokenising deposits.” Trump Poised for Quick Stablecoin Win The US House Financial Services Committee announced ‘Crypto Week,’ starting Monday, to consider three key crypto bills, including the GENIUS Act for stablecoins. The US lawmakers noted that mid-July will be 'Crypto Week' to create a clear regulatory framework for digital assets and protect financial privacy. #USLawmakers #CryptoWeek #CryptoRegulations https://t.co/yhbiz4tMwr — Cryptonews.com (@cryptonews) July 4, 2025 In June, US Treasury Secretary Scott Bessent said in a speech at the White House Digital Asset Summit that stablecoins would “reinforce dollar supremacy.” Fed Chair Jerome Powell has also emphasized the need for stablecoin regulation , noting the importance of protecting consumers. However, according to BOE’s governor Bailey, stablecoins need to be looked at closely through lens. “Stablecoins are proposed to have the characteristics of money. That money is a medium of exchange. Therefore, they really do have to have the characteristics of money and they have to maintain their nominal value.” He also expressed concerns that the spread of stablecoins would undermine their sovereign control over money. Besides stablecoins, Bailey noted that the extreme volatility of Bitcoin shows that it is “unbacked asset.” “It’s not money, it doesn’t have the function of money, and if you’re going to buy it, please buy it with your eyes open,” he advised users. The post BOE Governor Cites Threats to Financial Stability Over Private Stablecoin Issuance appeared first on Cryptonews .
The crypto market is showing bullish signals today, with the total crypto market cap rising 1%. Bitcoin is up nearly 2.6% over the past 24 hours, currently trading just above $120,900, briefly touching $121,000 to hit a fresh all-time high. Ethereum has continiued its positive momentum today as it trades around $3,040, up 3%. XRP is also on a strong upward trajectory, nearing the $3 mark But what else is happening in crypto news today? Follow our up-to-date live coverage below. The post [LIVE] Crypto News Today: Latest Updates for July 14, 2025 – Bitcoin Hits $120K, XRP Nears $3 as Bullish Momentum Continues appeared first on Cryptonews .
The Ethereum spot ETF demonstrated robust investor confidence, recording a substantial net inflow of $908 million last week. This marks the ninth consecutive week of positive capital inflows, underscoring sustained
xAI blamed an instruction set glitch for Grok’s anti-Semitic tirade, claiming that deprecated instructions made the chatbot mirror extremist content for 16 hours.
Bitcoin’s recent surge to a record $121,800 is driven by a unique combination of tariff-induced trade flows, elevated Treasury yields, and a growing appetite for risk assets. Market dynamics reflect
Satoshi Nakamoto’s Bitcoin holdings have propelled him to the 11th richest person globally, highlighting the immense value locked within the cryptocurrency’s ecosystem. Despite this impressive valuation, Bitcoin’s price must surge
Bitcoin’s record-breaking rally is being fueled by tariff-driven trade flows, high Treasury payouts, and a broader shift toward risk assets.
Bitcoin would need to spike at least 208% and hit $370,000 per token for Satoshi Nakamoto to become richer than the top billionaire on the Forbes billionaires list.
On July 14, the Crypto Fear and Greed Index remained steady at 74, mirroring the previous day’s reading and slightly above last week’s average of 73. This sustained level reflects
Bitcoin soared to a new all-time high above $120,800 on Monday, extending its explosive rally as Crypto Week 2025 kicks off. The sudden breakout has doubled the cryptocurrency’s value in the past year, driven by renewed institutional interest, favorable policy winds and growing excitement around upcoming legislation in the US. It last traded at $120,866 as of press time, and is up over 14% in the last month. Bitcoin just hit $119,000 for the first time. 10 years ago it was trading at $290. That's a 410x increase (+83% annualized). $BTC https://t.co/l5IYmkeySJ pic.twitter.com/nz6NxZlY0k — Charlie Bilello (@charliebilello) July 13, 2025 Over $276M Liquidated as Bitcoin Rally Catches Shorts Off Guard The latest surge sent shockwaves across the crypto market. According to CoinGlass data , more than $276m in leveraged positions were liquidated in the last 24 hours alone. Of that, $183m came from short traders caught off guard by Bitcoin’s sharp climb. Liquidations in Bitcoin totaled $83.85m, followed by $49.54m in Ethereum . Several altcoins, including XRP , XLM and Solana , also faced heavy liquidations as price swings intensified across the market. In the past day, nearly 100,000 traders were wiped out, with the largest single liquidation order taking place on Bybit for the BTC-USDT pair, worth $2.86m. Overall, short sellers bore the brunt, with more than 91% of all liquidated positions skewed to the downside. Markets Watch Closely as US Debates Crypto Regulation at Pivotal Moment Investor optimism has grown in anticipation of Crypto Week, set to begin July 14. Lawmakers in the US House of Representatives will review three major crypto bills — the CLARITY Act, the GENIUS Act and the Anti-CBDC Surveillance State Act. The outcome could reshape the legal foundation of digital assets in the world’s largest economy. Bitcoin Economic Calendar for the week of July 14th ("Crypto Week"): Monday: Start of the Tornado Cash Trial, U.S. House of Representatives meetings to review the "Anti-CBDC Surveillance State" Act, the "Digital Asset Market Clarity" Act of 2025, and the "GENIUS" Act Tuesday:… pic.twitter.com/SARipkbi80 — Ledn (@hodlwithLedn) July 13, 2025 Lawmakers on both sides of the aisle, along with the Trump administration, are backing the push for clearer crypto rules. If the bills pass, they could reshape how digital assets are regulated in the US, with ripple effects on markets, big investors and the country’s role in global finance. Despite some lawmakers pushing back through an “Anti-Crypto Corruption Week” campaign, broader sentiment remains bullish. Rising ETF Interest and Policy Clarity Spark Talk of a New Crypto Cycle The total crypto market capitalization now stands at $3.86 trillion, supported by ETF inflows and Ethereum’s move back above $3,000. Altcoins like ADA and XRP have also shown strength, lifting market confidence. Meanwhile, decentralized finance is gaining fresh momentum. Last week, the total value locked across DeFi protocols jumped by more than $20b. As a result, the sector’s TVL now stands at roughly $176b. This surge reflects growing trust in on-chain financial solutions. Traders are now watching key macro and political developments. Bitcoin’s resilience in the face of new US tariffs has surprised many analysts, who point to a maturing market. With ETF demand rising and legislative clarity in sight, some believe this breakout may mark the start of a longer-term uptrend. The post Bitcoin Hits New All-Time High Above $120K as Crypto Week Buzz Builds appeared first on Cryptonews .