The mood across the cryptocurrency ecosystem is noticeably brighter on July 22 after a week of gains helped traders put the events of the past two months behind them and look toward a positive future. Data from Cointelegraph Markets Pro and TradingView shows that the price of Bitcoin (BTC) has been oscillating around support at
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China’s Tencent Holdings plans to shut down its non-fungible token (NFT) platform Huanhe only a year after its launch. The social media giant has reportedly made the decision because of the strict ban on the resale of NFTs imposed by the authorities in Beijing. Huanhe to Close Down a Year After Launch as China Curbs
Traders work on the floor of the New York Stock Exchange (NYSE) on June 10, 2022 in New York City. Spencer Platt | Getty Images There’s a head-spinning amount of news for markets to navigate in the week ahead, the biggest of which will be the Federal Reserve’s mid-week meeting. The two largest U.S. companies
Experienced crypto traders know that bull markets are for selling and bear markets are for accumulation, but the latter can be difficult amid a backdrop of surging inflation that saps the purchasing power of fiat currencies. As the crypto market heads deeper into crypto winter, with prices in the gutter and developers focused on creating
Marivi Wright’s “vacation from hell” began when Air France’s computer systems went down and staff had to check in passengers on her flight from New York to Europe by hand. She missed two connecting flights as she flew through Paris to Spain to visit her 83-year-old mother, landing in Malaga 12 hours late. Her luggage
The U.S. House of Representatives Natural Resources Committee passed a binding plebiscite on Puerto Rico’s status Wednesday but immediately faced opposition by some United States-based diaspora groups. The bill would offer Puerto Rico voters three options: statehood, independence, or sovereignty in free association with the United States. The current status — remaining a territory —
The dismissal of Arizona Gov. Doug Ducey’s lawsuit to block the Treasury Department from clawing back some pandemic relief money highlights both the complexities of state compliance with federal guidance and the antagonism that exists between certain states and the Biden administration. But while Ducey was unable to make his case in federal court this
In a downtrend, when markets do not respond negatively to bearish news, it is a sign that the selling may have reached exhaustion. Reports of electric vehicle maker Tesla dumping 75% of its Bitcoin (BTC) holdings in the second quarter only caused a minor blip as lower levels attracted strong buying from the bulls. Tesla
Investors will be greeted Monday with the smallest new-issue calendar year-to-date ahead of the Federal Open Market Committee’s July meeting where rates are anticipated to be hiked at least three-quarters of a point. To end the week, munis were firmer, underperforming the extended U.S. Treasuries rally where yields again fell double-digit basis points. Equities ended
It has been a volatile yet positive week for cryptocurrencies, as traders ignored the warnings from crypto winter veterans that there was more downside in store and jumped back into the market at the first sign of rising prices. Evidence for the reversal in sentiment can be found in the Crypto Fear & Greed Index,
The U.S. Securities and Exchange Commission (SEC) has announced insider trading charges against a former Coinbase manager, who has been arrested and is also facing criminal charges. The regulator has identified nine crypto tokens as securities in the complaint. U.S. Attorney Damian Williams says it is “the first-ever insider trading case involving cryptocurrency markets.” SEC
Russia’s central bank has cut interest rates in a surprise move that it said was in response to a slowdown in inflation and an improved GDP forecast. The decision to cut rates to 8 per cent on Friday, from 9.5 per cent in June, suggests that the central bank believes Russia is weathering the storm
A clash over tax and economic policy has dominated the early tussles between former chancellor Rishi Sunak and foreign secretary Liz Truss in their bids to become Conservative leader and the next UK prime minister. As the second phase of the leadership contest got under way this week, with two candidates facing a vote by
As the U.S. airline industry appears to shake off the lingering effects of the pandemic, experts expect a rapid return to profitability and previously predicted growth. After a staggering 96% drop in the volume of domestic air travel shortly after the adoption of travel restrictions in March of 2020, passenger flight rates have rebounded to
In this article MAT VZ STX SNAP AXP Signage for Snap Inc., parent company of Snapchat, adorns the front of the New York Stock Exchange, March 2, 2017 in New York City. Getty Images Check out the companies making headlines in midday trading. American Express — Shares of the credit card company climbed 2.9% as
The U.S. dollar has been the world’s dominant currency for three-quarters of a century, and though it may not be apparent to inflation-wracked Americans, the currency maintains more purchasing power than most of its major rivals. That’s helpful to U.S. consumers, though it comes at a cost. Inflation is diminishing the value of the euro,
Michigan drew an upgrade from Fitch Ratings over analysts’ view that a rebuilding of reserves and cash balances along with flush tax collections and conservative budgeting strengthens the state’s edge in weathering a future downtown. The upgrade to AA-plus from AA impacts $1 billion of outstanding general obligation debt and the Michigan School Bond Qualification
Volkswagen’s chief executive Herbert Diess, the architect of the German carmaker’s multibillion-euro push into electric vehicles, will leave the company within weeks after being forced out by union leaders and shareholders. The 63-year-old, who took over in the years following the VW emissions scandal, will be replaced by Porsche boss and former VW manager Oliver
The ancient Greeks pioneered a range of innovations to cool their houses during the summer, planting trees to provide natural shade and designing buildings to limit which spaces felt the full blast of the sun’s rays. Thousands of years later, their descendants are drawing upon the same kind of ideas to cool down the city
There is an irritating predictability to the way in which Elon Musk’s unsolicited bid for Twitter is unravelling. Some users might have been excited by the idea but tech commentators and investors in Twitter were sceptical from the start. Why wouldn’t they be? For the second time, Musk appeared to insert a 420 internet weed