Altcoin News Official TheBitTimes.com

US Treasury Secretary Bessent says that the Federal Reserve should not launch a central bank digital currency (CBDC) in the U.S. “A central bank digital currency is a sign of weakness,” the secretary said on Monday. “I would not be in favor of the Fed issuing digital currency.” Bessent testified on Monday ahead of a House oversight subcommittee on the White House’s 2026 budget requests. While testifying, the Treasury Secretary doubled down on his opposition to the Fed creating a CBDC. “We believe that digital assets belong in the private sector,” Bessent added. The Trump administration was actively against the concept upon its return to the White House. Now, months into Trump’s second tenure in office, his team remains adamant that the US doesn’t need a central bank digital currency. CBDCs Back in the Spotlight A central bank digital currency has been on the table for discussion amongst officials as digital assets and cryptocurrencies beco...

Cardano (ADA) continues to make headlines as a key player in the crypto space. With consistent development and strong backing from its founder Charles Hoskinson, Cardano has proven itself a stable platform, maintaining positive momentum despite market fluctuations. The upcoming meeting between Hoskinson and Argentina’s President Javier Milei at the Tech Forum Argentina in October 2024 is generating further excitement, especially given Milei’s pro-crypto stance. ADA Key Statistics  Current Price: $0.38 Market Cap: $13.35 billion Trading Volume (24h): $357.15 million Circulating Supply: 35 billion ADA Total Supply: 45 billion ADA CoinMarketCap Ranking : #10 ADA’s price movement over the past 30 and 7 days exhibits fluctuation. The cryptocurrency has retreated 3.04% from its 30-day peak and advanced 4.52% from its 7-day high. Encouragingly, ADA has demonstrated significant recovery from its recent lows, surging 25.37% and 16.38% over the corresponding p...

Decentralization enables programmability — and that allows stablecoins to wield a key advantage over central bank digital currencies. When it comes to providing stable value, stablecoins and central bank digital currencies (CBDCs) appear to serve two sides of the same proverbial coin. Crypto stable assets, however, can provide entirely different use cases — and CBDCs simply cannot compete.  The key is programmability — smart contracts that automate and add new features to money. Programmability allows for asset backing and decentralization that is not possible under current CBDC designs. Developers should be taking advantage of the programmable opportunities that stable assets offer rather than trying to compete with CBDCs. Stable-asset issuers articulate that they can make the current monetary system better — primarily in three ways. First, stable assets can help reduce the costs of traditional financial activity, such as decentralized borrowing/lending via decentralized finance (DeF...