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Steve Muchoki

Articles by Steve Muchoki

Crypto Exchanges Huobi and Poloniex Announces Strategic Partnership to Beat Bear Market Constraints

December 1, 2022

The Huobi Advisory Board will evaluate all Poloniex projects on a monthly basis beginning today.Cryptocurrency exchanges Huobi and Poloniex have finally announced an official partnership after denying media rumors. According to the official announcement, the two exchanges have entered into a ‘strategic partnership’ geared towards multiple cooperation. At the top list of priorities for the strategic partnership between the two companies is developing a more robust entity to compete with other leading exchanges.According to aggregate data from Coingecko, Huobi exchange handled a 24-hour volume of approximately $299,821,720.20. Reportedly, The most active trading pair on Huobi in the past 24 hours is BTC/USDT, with a volume of about $59,756,733.98. Poloniex, a Justin Sun-backed exchange, on

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Is CFTC Underfunded to Regulate Cryptocurrency Industry?

October 25, 2022

The CFTC has been working closely with the SEC to help provide crystal clear cryptocurrency regulations.The cryptocurrency market is getting shaped by global geopolitics. In the United States, the Commodity Futures Trading Commission (CFTC), under Chair Rostin Behnam, has been at the forefront of cryptocurrency industry regulations. However, it has been regarded as a friendlier regulator than the Securities and Exchange Commission (SEC).During a panel discussion hosted by law firm Lowenstein Sandler in New York on Monday, Behnam said he gets “very irritated when folks start to talk about the CFTC as a more favorable regulator,” In his opinion, Behnam noted that the CFTC could do much more if it were motivated by funds and working persons.“If we had more funds, if we had more personnel,

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DeFi-focused Hedge Fund Edge Capital Management Raises $66.8M

October 21, 2022

Edge Capital has very little information about its products but markets itself as an alternative investment manager specializing in digital assets and DeFi protocols.According to SEC filings, Edge Capital Management LLC, Florida-based decentralized finance (DeFi) focused hedge fund, has raised a total of $66.8 million in two separate fundings. Reportedly, the firm raised one offshore fund in the Cayman Islands from eight investors for a total of $38.6 million. On the other hand, the company raised a total of $28.1 million for a  Delaware-incorporated fund from six investors.The little-known company intends to raise further capital since it did not set a limit on the previous fundraisings. The company has very little information about its products but markets itself as an alternative

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Disney (DIS) Stock Down 1.1%, Analyst Says Parks Attendance May Need 2 Years to Normalize

April 8, 2020

Disney (DIS) stock price is falling. Wells Fargo analyst Steven Cahall stated that the studio’s theme parks division will need a couple of years to return to normal business.The Walt Disney business has been seriously hit by the stay at home orders caused by the ongoing coronavirus. The Walt Disney Company (NYSE: DIS) stock fell 1.2% in after trading hours on Tuesday and is 1.1% down now, after Wells Fargo analyst Steven Cahall downgraded it, claiming that the Disney parks attendance could take up to two years to normalize.Cahall wrote:“We don’t think parks can get back to anything close to full capacity until testing and/or vaccines are far more ubiquitous. We see the limiting factor as health-care technology as assets like Walt Disney World will either need to operate with social

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Zoom (ZM) Stock Lost 7.48% Yesterday as Company Is Sued Due to Privacy and Security Flaws

April 8, 2020

Zoom Video Communications (ZM) stock price lost $9.19 approximately 7.48% on April 8. The fall is being attributed to the class-action lawsuit. Zoom is being sued for not disclosing privacy security flaws.Since the outbreak of coronavirus, many people got to adapt to working remotely. Zoom Video Communications Inc (NASDAQ: ZM) and its stock price have been on the rise. However, the rally did not have much of the fuel as the bulls seem to be already exhausted. It all began around March 20, when the company began battling arising issues of privacy and security flaws.The market chart formed a strong resistance level at $160, where the stock bounced to the downward trend on a free fall. Yesterday the ZM stock price was at $113.71. Having shed $9.19 from the previous day’s high, which

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Ripple-Compatible Chip Development Is Said to Be Sponsored by U.S. Navy 

April 7, 2020

Ripple and XRP are in the spotlight once again after the news that the U.S. Navy is hiring a firm to create implantable microchips that would be compatible with Ripple’s blockchain.It was a huge breakthrough for Ripple and the XRP community after the company’s blockchain won a big boost from the U.S. Navy. In an interview, the president of Solari Inc., Catherine Austin Fitts, said a year ago the U.S. Navy had hired a Danish tech company to develop an implantable microchip and make it compatible with the Ripple blockchain.The news coincided with a time when the crypto market is on the upward move after free-falling the first quarter. XRP has risen 15.32% in the past week and jumped a whopping 6.80% in the past 24 hours. The market cap is slightly above $20 billion, with the average XRP

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