Markets

Zhao’s woes and those that are related to his exchange have been largely a result of the ongoing lawsuits against them. Binance co-founder and CEO Changpeng Zhao continues to see his fortune slashed after he reportedly lost another $11.9 billion, according to the Bloomberg Billionaires Index. This brings his total fortune loss from the January 2022 peak of $97 billion to around $80 billion. Zhao Is Losing His Wealth, Here’s Why As of publication, Zhao’s crypto empire is now worth a measly...

The recent work stoppage by the United Auto Workers (UAW) union impacted the company’s ability to meet its financial targets. On Thursday, October 26, Ford Motor Co (NYSE: F) reported its Q3 2023 earnings while missing Wall Street expectations. The company has been restructuring its operations and regrouping after the conclusion of nearly six weeks of US labor strike that cost the company a staggering $1.3 billion. Ford in Q3 2023 In the third quarter, Ford reported a shift to net income,...

While the prospect of a Bitcoin ETF is undoubtedly exciting, it is essential to acknowledge the potential challenges and roadblocks that may surface. The crypto community is abuzz with anticipation as the US Securities and Exchange Commission (SEC) considers multiple filings for spot Bitcoin (BTC) Exchange Traded Funds (ETFs). SEC Chair Gary Gensler recently revealed that the regulatory body has between eight to ten such filings on its plate for consideration. Bitcoin’s Rally and Market...

Bitcoin cash price started a downside correction from the $270 zone against the US Dollar. The price is now trading above the $240 zone and the 55 simple moving average (4 hours). There is a key contracting triangle forming with support at $242 on the 4-hour chart of the BCH/USD pair (data feed from Coinbase). The pair could continue to move down if it breaks the $242 and $240 support levels. Bitcoin cash price is declining from the $270 zone against the US...

Sygnum, the world’s first digital asset bank, today announces an innovative new private debt asset token with Float, a Stockholm-based Capital-as-a-Service company. Fasanara Capital, one of Europe’s largest credit funds in fintech, is acting as senior lender. The Float Token is a private debt asset token launched by Float in partnership with Sygnum Bank on the Polygon blockchain. Exclusively available to Sygnum clients, it provides a unique opportunity to invest into a private debt portfolio...

TL;DR Shiba Inu’s layer-2 solution, Shibarium, witnessed a 400% increase in daily transactions, reaching over 62,000 on October 25. Since its launch in August, Shibarium has seen over 1.3 million blocks and is nearing 4 million overall transactions. This growth in Shibarium is seen as a potential driver for SHIB’s price, which has recently risen by about 10% daily and 20% weekly, possibly also influenced by the broader bullish cryptocurrency market trends. What’s New With...

The price of HayCoin (HAY), the first-ever token floated on the decentralized exchange Uniswap, witnessed a remarkable surge, reaching a peak of $5.5 million per token on Thursday. This massive price increase followed token burning by long-term holders, indicating a notable development in the market. HAY Token Surges to $5.5 Million On Oct. 26, HAY witnessed a surge in its token price, reaching $5.5 million. This notable increase occurred shortly after a long-term holder,...

Despite the recent setbacks, Standard Chartered had been on an upward trajectory before the China-related issues came to the forefront. Shares of UK-based banking giant Standard Chartered Plc (LON: STAN) plummeted by as much as 17% during early trading, leading to a temporary halt in trade, and by 11:15 a.m. London time, the stock remained approximately 10% lower. At the time of writing, the stock is pegged at GBX 643.60. The turmoil in the markets reflected the concerns of investors, who...

Mercedes-Benz cited higher inflation, supply chain-related costs, and a 329-million-euro foreign exchange setback, among the factors that shrank its Q3 2023 earnings. Luxury car maker Mercedes-Benz Group AG (ETR: MBG) has revealed that its earnings took a hit in the third quarter (Q3). According to a Thursday announcement by the firm, this reflects the current state of the market, which it described as “subdued”. Although its forecast for the full year is 12%-14%, the latest report means...

Layer-1 blockchain Avalanche is known for its speed, low cost, scalability, and security. Blockchain horse racing game NEOBRED has announced that it is integrating with blockchain Avalanche to provide players with a superior gaming experience by leveraging the network’s speed and cost-effectiveness. A spokesperson from NEOBRED said of the integration: “We are excited to integrate with Avalanche and offer our players a new level of gaming performance and efficiency […] Avalanche’s...