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While it is no secret that Robert Kiyosaki, a popular investor and author of the best-selling personal finance book ‘Rich Dad Poor Dad,’ is a strong critic of the current financial authorities in the United States, his most recent words of caution are particularly alarming. Indeed, the entrepreneur has discussed red flags in the US economy, including the implications of central bank digital currencies (CBDCs) and the banking system’s vulnerabilities, with macroeconomic expert George Gammon in an episode of Kiyosaki’s The Rich Dad Channel podcast streamed on July 10. Banksters’ liabilities Firstly, the ‘Rich Dad’ author touched upon last year’s bailout of the crashed Silicon Valley Bank (SVB), which, in his view, collapsed due to banks taking clients’ money and buying “another type of asset to make sure they can pay you the interest on your savings.” Picks for you ...

US Federal Reserve unveils Novel Activities Supervision program to oversee banks ’ crypto -related activities, emphasizing stablecoin safeguards. The initiative‘s main goal will be to supervise the banks’ activities related to cryptocurrencies, such as custody, lending, trading, and the issuance or distribution of digital assets. The institution will guide the banks before engaging in activities related to cryptocurrency. The Fed said that the goal of the law is to foster the benefits of financial innovation while recognizing the risks of working with crypto currency. The program will be subject to the existing supervisory processes of the US Federal Reserve. The new initiative launched by the Fed does not add to or modify the current rules for banks dealing with cryptocurrency in the US.  You might also like: New York Federal Reserve, major U.S. banks successfully complete private test using DLT Stablecoins supervision The institution also issued info...

On this week’s episode of The Market Report, Cointelegraph’s resident expert explains why Bitcoin is rising and why banks are collapsing. This week on The Market Report, our beloved host, Joe Hall, and insightful expert, Sam Bourgi, unfortunately, could not make it, but don’t worry because Marcel Pechman is here to discuss why he thinks Bitcoin’s (BTC) price is rising amid collapsing banks . We kick things off with this week’s first article: UBS Group agrees to $3.25B “emergency rescue” of Credit Suisse UBS Group agreed to buy its ailing competitor Credit Suisse for $3.25 billion on March 19 as part of an “emergency ordinance” to prevent financial market instability. To close the deal, Swiss authorities agreed to change the country’s regulations to bypass a shareholder vote and announce the deal over the weekend ahead of the market opening. Was this move actually legal? After this move, will Switzerland still have a reputation for being the securest financial market? Pechman has muc...