News list for "Kansas City"
Although Kansas City Federal Reserve President Schmid supported a rate cut in September, his hesitation to follow through on easing policy highlights the difficulty in reaching consensus on the Fed's interest rate decision. Click to view...
A Kansas City grand jury indicted North Korean national Lim Jung-hyuk, accusing him of participating in a ransomware attack plot targeting U.S. hospitals and medical facilities. The group laundered cryptocurrency proceeds and used the funds to further cyber-intrusion into defense, technology, and government entities around the world. The ransomware attack disrupted patient care and was part of the broader "Andariel" hacking group linked to North Korea's Reconnaissance General Administration...
The Federal Reserve Bank of Kansas City study found that stablecoin insurance costs are higher than bank deposit insurance. The average annual insurance cost for the four unnamed stablecoins has been 3.2% since 2019, but has dropped below 1% over the past year, compared to bank FDIC insurance costs of 2.5 to 42 basis points. Stablecoins are more volatile in price and issuance, and have a smaller capital buffer, averaging just 0.9%. Nonetheless, the insurance costs can be covered by stablecoin re...
