Banks cautious about crypto ahead of COVID-19 testimony before US Senate

Major Wall Street bank executives will appear before the United States Senate Banking Committee on Wednesday to discuss the role of their financial institutions in the recovery of the American economy.

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‘Long Bitcoin’ chosen as most crowded trade in latest BofA survey

Despite the ongoing sideways trend in the cryptocurrency markets, Bitcoin (BTC) still remains a crowded trade. According to a new survey from Bank of America, this could indicate that the current bull cycle’s market top is still to come.

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Bank of America partnership with Paxos will allow same-day trade settlements

The second-largest bank in the United States is now reportedly using blockchain technology for settling stock trades.
According to a Bloomberg report on Monday, Bank of America has joined Paxos Settlement Service, a platform capable of same-day settlement of stock trades using blockchain technology.

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Second-Biggest US Bank Joins Paxos’s Blockchain Stock Settlement Network – BeInCrypto

Bank of America (BoA) has joined with Paxos Blockchain Stock Settlement Network in the latest sign that Wall Street is inching closer to crypto. 
It was announced Monday that Bank of America has joined with Paxos, a blockchain-based settlement network for U.S. equities.

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Bank of America to Settle Stock Trades on Paxos Network | Crypto Briefing

Key Takeaways

Bank of America is set to join Paxos Network to settle stock trades.
The move will enable transaction settlements in minutes rather than days, Paxos says.
Bank of America is the latest of several major banks to adopt blockchain technology to improve its operations.

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Nearly 75% of professional investors see Bitcoin as bubble: survey

Bank of America released a new survey that found that the majority of professional investors are not very optimistic about the world’s largest cryptocurrency.
Nearly 75% of respondents in the April BofA Fund Manager Survey said that they see Bitcoin as a “bubble,” CNBC reported.

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Bitcoin overtakes tech as most crowded trade, says Bank of America survey

In another throwback to the 2017 bull market, a major United States bank fund manager survey, or FMS, has put Bitcoin at the pinnacle of positive investor sentiment.
According to Reuters, 36% of respondents identified a long Bitcoin bet as the most crowded trade ahead of long tech in a Jan.

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Bitcoin rally could be “mother of all bubbles” Says BofA – BeInCrypto

Michael Hartnett, Chief Investment Strategist at BofA, recently suggested this latest Bitcoin rally could be leading into “the mother of all bubbles”.

Over the Christmas season Bitcoin more than doubled in value. It saw new all-time-highs after attracting a swath of institutional investment.

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