Tag Archives: News

While the stocks have a bearish sentiment at this time, the projection for the future has been keeping many investors optimistic about the Chinese markets.The current Chinese political makeup has stirred a massive slump in the stocks of the top tech companies in the country. After Monday’s trading session, the shares of Alibaba Group Holding Ltd (HKG: 9988) dropped 11.42% to HKD61.65, Tencent Holdings Ltd (HKG: 0700) slid by 11.43% to end the day at HKD206.20 while delivery giant, Meituan...

Binance CEO Changpeng Zhao revealed that the company has most of the compromised funds and is ‘narrowing down’ the identity of the hacker.Crypto exchange Binance is reportedly narrowing down the identity of the hacker behind its $570 million crypto attack. This development comes after the company’s CEO Changpeng Zhao revealed that Binance received a tip from law enforcement. As Zhao put it:“We’re still actually chasing … helping [authorities] to chase the bad players, working with law...

It appears millennials are no longer interested in investing in crypto. At least not most millennials. A new survey suggests that the number of young investors seeking to put their money in assets like bitcoin and Ethereum has fallen from about 50 percent in 2021 to 30 percent in 2022. That’s a dip of about 20 percent – a big figure in just over a year. Millennials and Crypto Are No Longer a Match Much of this can likely be attributed to the idea that 2022 has been a...

Tesla has been facing growing challenges in China due to strict COVID-19 rules as well as growing competition from local electric carmakers like BYD.The world’s largest electric carmaker Tesla Inc (NASDAQ: TSLA) has decided to cut the price of its cars in one of its most-competitive markets China. As per the latest development, Tesla has cut the price of its Model and Model Y vehicles.Tesla Cars PriceThe price of the Model 3 sedan in China has been reduced to 265,900 Chinese yuan ($36,615)...

According to recent reports, the US Court has approved Voyager’s entry into a $1.42 billion agreement with FTX to acquire its virtual assets.Crypto Lender  Voyager Digital filed for chapter 11 bankruptcy on July 4 after halting withdrawals a few days earlier. According to the company, the Three Arrows Capital default caused liquidity issues forcing them to take this decision. FTX US, therefore, submitted a bid to acquire the company in a “highly competitive” auction process pending court...

Philips posted its Q3 2022 report as the company grapples with the fallout from a medical equipment recall.Royal Philips NV reported on Monday, October 24th, its Q3 2022 earnings which surpassed analysts’ forecasts for the period. However, the Dutch multinational conglomerate corporation’s revenue fell short of expectations. During the third quarter, Philips saw earnings per share of 0.25 euros on revenue of 4.30 billion euros. Meanwhile, analysts polled by Investing.com had it at 0.24 euros...

Stock traders and investors look poised for a bountiful week of earnings as they await a major interest rate decision from the Fed. Monday morning signaled some hopeful times ahead for the European stocks market, which opened on a rising note. However, it might be safe to say that the driving force behind the sudden rise in the value of European stocks, is a recent report that claims that the Federal Reserve could throttle down on its pace of interest rate hikes.  This explains why traders...

Since the announcement, the Freeway (FWT) token has sunk to approximately eighty percent.Crypto platform Freeway has recently paused a few operations due to unforeseen instability in the foreign exchange and crypto marketplaces.In a post by the company on October 23rd, the platform revealed its plans to pause purchases and deposits. It also disclosed the company’s plans to cancel plans of buying Supercharger simulations until a new strategy is chalked out for the way forward. The...

Asides from creating its digital currency, JCB has been making forays into the world of blockchain, crypto, and Web3.Ahead of Japan’s issuance of CBDC, Japan Credit Bureau (JCB) has launched its digital currency. JCB is projecting that asking older citizens and young children to use a new payment infrastructure may limit the adoption of CBDCs in the future. As such, the firm is looking to test CBDC acceptance with its existing payment infrastructure vis, contactless payment system, merchants,...

Stellar lumen price started a fresh decline from the $0.1165 resistance zone against the US Dollar. XLM price is now trading below $0.1120 and the 55 simple moving average (4-hours). There is a key bearish trend line forming with resistance near $0.1100 on the 4-hours chart (data feed via Kraken). The pair could continue to move down if it breaks the $0.1080 and $0.1065 support levels. Stellar lumen price is trading below $0.1200 against the US Dollar, similar to...