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Stock impact report

Bitcoin trades below $40,000 as Fed issues report on digital currencies [FOX Business Network]

Robinhood Markets, Inc. - Class A (HOOD) 
Bitcoin has had a rough week just like equities. The cryptocurrency has traded down for five straight days. Bitcoin fell below $40,000 for the second time this month and is off more than 10% for the month. The Federal Reserve on Thursday released a highly anticipated report on central bank digital currencies that suggested it is leaning toward having banks and other financial firms, rather than the Fed itself, manage digital accounts for customers, according to the Associated Press. A central bank digital currency would differ in some key ways from the online and digital payments that millions of Americans already conduct. Those transactions are funneled through banks, which wouldn't be necessary with a digital dollar. The Fed's paper stressed that no final decisions about a digital currency have been reached. CLICK HERE FOR FOX BUSINESS' REAL-TIME CRYPTOCURRENCY PRICING DATA The Fed characterized the potential introduction of a digital currency as having far-reaching con Show less Read more
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