The news in November of the Federal Reserve Bank of New York’s participation in a 12-week digital dollar pilot project with Citigroup, HSBC, Mastercard, and others was overshadowed by the collapse of crypto exchange FTX earlier that month. The latter grabbed all the headlines, triggering a deepening of the bear
The future for central bank digital currencies
Crypto has evolved over the course of a decade into a popular and widespread retail investment and payment method. Central banks have taken note and have started issuing their own regulated digital currencies.