Tag Archives: Market News

The rise in gold prices has been attributed to mounting speculation about the United States Federal Reserve’s future policy following the release of jobs data. The total market capitalization of tokenized gold has surpassed $1 billion. CoinGecko data places it at $1.02 billion, up 2.3% over the past 24 hours, with a trading volume of $35,508,696 over the same period. The largest gainers are PAX Gold and Tether Gold with gains of 2.7% and 1.9% respectively. Both are currently trading over...

Reducing oil production means there will be a relative shortage in the supply of the product. The recent actions by some members of the Organization of Petroleum Exporting Countries (OPEC) and its allies tagged OPEC+ to cut oil production beginning in May can significantly stir a setback for most country’s Central Banks. With Saudi Arabia and its key allies including the United Arab Emirates and Kuwait set to cut production by more than 1 million barrels per day, Russia’s projected 500,000...

When Virgin Orbit went public, its valuation was pegged at around $4 billion, however, the tides have shifted over the past few months with the company’s market capitalization now pegged at around $65.38 million. Satellite launcher and space technology company Virgin Orbit Holdings Inc (NASDAQ: VORB) has filed for Chapter 11 bankruptcy in the United States bringing a solemn end to its months of financial instability. As reported by CNBC, the bankruptcy was filed in the US Bankruptcy...

The two banks also assure of plans to allow the platform to accommodate central bank digital currencies in the future. Earlier, Crédit Agricole CIB and SEB jointly announced the launch of a new public blockchain-based platform, so|bond. According to the announcement, the platform will be focused on improving the efficiency of issuing digital bonds, albeit with a little twist of sustainability. That is, while the network is not exactly fixated on green bonds, it still aims to be...

According to the company, it has plans to produce a total of 1.8 million vehicles with the total delivery expectations pegged around that figure. American multinational electric vehicle manufacturing company Tesla Inc (NASDAQ: TSLA) recorded a bearish close of its stock on Monday following the publication of its first quarter delivery numbers. The figures, unveiled over the week showed the company delivered a total of 422,875 electric vehicles in the quarter with a total production of...

US government agencies have been actively encouraging similar ideas associated with financial literacy since 2003 when April was formally appointed the National Financial Capability Month. The United States Securities and Exchange Commission (SEC) has revealed a series of education events focussing on underrepresented communities and others- but indicated that competitors should be educated to practice caution while using crypto. In an April 3rd announcement, the SEC disclosed that it...

A new deal sees the WWE and UFC merge under the same umbrella for all-round combat sports offerings subject to regulatory approval. The World Wrestling Entertainment (WWE) has agreed to merge with the Ultimate Fighting Championship (UFC) to form a publicly-traded combat sports company. According to reports, the new company will be run by a talent and media holding company and UFC parent Endeavor Group Holdings. The WWE deal comes months after news first emerged that the popular wrestling...

As the growing liquidity strain in the price of Bitcoin is a major concern, American banks are likely to start exploring new avenues to rebuild that part of the industry. The recent bank runs of American banks as recorded in March have fueled a massive pulldown on the liquidity base of Bitcoin (BTC), the world’s largest digital currency by market capitalization. As reported by CoinTelegraph citing data from crypto analytics provider, Kaiko, the drained liquidity in the market has hit a...

Tesla CEO Elon Musk appears set to visit China amid an increasingly frosty relationship between Beijing and Washington.  Elon Musk reportedly plans to visit China in April to meet with the country’s Premier Li Qiang. However, inside sources explained that the timing of Musk’s visit remains subject to Li Qiang’s availability. The Elon Musk trip to China would be the first time the Tesla (NASDAQ: TSLA) CEO would visit the East Asian nation since Covid. Musk last visited China when President...

Following two years of crackdowns and sanctions, China appears ready to unlock private sector potential via tech IPO developments.  Alibaba Group Holding and JD.com are reportedly involved in developments that could revive the long-dormant tech IPO landscape in China. Both tech giants are setting plans to float initial public offerings in the East Asian nation. These developments, three expected 2023 monumental Chinese debuts, could prop up the country’s flailing tech industry and...