Markets

Through Taproot Assets, Lightning Labs is bringing stablecoins to Bitcoin and Bitcoinizing traditional assets including the dollar. Bitcoin layer-2 infrastructure firm Lightning Labs has officially launched the mainnet of Taproot Assets, a protocol that supports the issuance of stablecoins and real-world assets on the Bitcoin and Lightning networks. According to an official announcement, the mainnet release will support functionality on the Bitcoin blockchain, with support for Lightning...

It was disclosed that FTX customers’ money was spent on business investments, political and charity donations, and real estate. Beleaguered cryptocurrency exchange FTX spent customer’s deposits for business investments, political contributions, charitable donations, real estate, and the buyback of shares from competitor exchange Binance. During a hearing on Wednesday at the ongoing Sam Bankman-Fried (SBF) trial, professor Peter Easton, an accounting officer hired by the US Department of...

TMSC saw their quarterly profits plunge the highest since 2019. However, the company says that the the PC and smartphone market concerns are abating and chip demand is rising again. On Thursday, October 19, the Taiwan Semiconductor Manufacturing Company (TSMC) reported its Q3 2023 numbers with profit standing at 211 billion New Taiwan dollars ($6.69 billion). This was greater than the expected profit of NT$191.43. This has been the largest profit decline since the first quarter of 2019....

G42’s recent partnership with OpenAI shows the company’s dedication to fostering AI adoption in the UAE. OpenAI, the brains behind the creation of the popular artificial intelligence (AI) tool, ChatGPT has entered into a strategic partnership with Abu Dhabi’s technology conglomerate G42. In an announcement on Wednesday, the company said that the new collaboration will help advance the adoption of AI technologies in Dubai and across the Middle East market. G42 to Leverage OpenAI’s AI...

With Stéphanie Cabossioras’ resignation, she joins at least 10 other senior executives who have left Binance this year. Stéphanie Cabossioras has resigned from her role as executive director of Binance France, the French arm of the world’s largest cryptocurrency exchange. Her departure comes as the latest in a series of high-level exits from Binance and occurs against a backdrop of heightened regulatory pressure on the company. Cabossioras was appointed to lead Binance France in April...

Nokia’s cost reduction plan is a strategic move aimed at addressing the challenging market environment it currently faces. Finnish telecommunications giant Nokia Oyj (HEL: NOKIA) has revealed plans to cut up to 14,000 jobs as part of a comprehensive cost reduction strategy, prompted by a substantial drop in Q3 2023 earnings. Nokia Job Cut Reduction Strategy According to reports, Nokia’s decision to cut jobs and streamline its operations is in direct response to its third-quarter earnings...

EOS price remained in a bearish zone and declined below the $0.550 zone against the US Dollar. The price is now trading below $0.545 and the 55 simple moving average (4 hours). There was a break below a key bullish trend line with support near $0.5475 on the 4-hour chart of the EOS/USD pair (data feed from Coinbase). The pair could continue to decline if it stays below the $0.525 and $0.520 resistance levels. EOS price is struggling below $0.540 against the US...

Litecoin started a fresh decline from the $66.50 resistance zone against the US Dollar. LTC price is now trading below $62.50 and the 55 simple moving average (4 hours). There was a break below a key rising channel with support near $62.20 on the 4-hour chart of the LTC/USD pair (data feed from Coinbase). The pair could continue to move down unless there is a recovery wave above $62.00. Litecoin price is struggling below $62.50 against the US Dollar, like Bitcoin....

Bitcoin is enjoying price spikes and increased trading volumes as Fidelity and others amend proposals while the market awaits an approval. The price of Bitcoin (BTC) hit $28,817 today in response to amendments to spot Bitcoin ETF applications submitted to the United States Securities and Exchange Commission (SEC). However, as of this writing, Bitcoin has fallen to $28,379 according to data from CoinMarketCap, a 4.3% increase over the last 7 days. The initial increase put Bitcoin at a new...

Bitcoin briefly soared toward $30,000 following a false spot Bitcoin ETF approval information before swiftly retreating to the $28,000 level. But an actual approval could add $1 trillion to the crypto market, according to the latest report by CryptoQuant. The next wave of Bitcoin institutional adoption appears to be advancing in the form of financial institutions offering access to the flagship cryptocurrency investing to their clients via spot Bitcoin ETFs. $1 Trillion...