U.S. Senator Cynthia Lummis is pushing for regulation that would ensure bitcoin remains a good store of value. If the cryptocurrency “is to become what El Salvador has done, legal tender, then we need to make sure that we are using it in ways that comply with the Bank Secrecy Act and anti-money laundering laws,”
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Bitcoin (BTC) bulls are locked in a battle with bears in order to take control of the $40,000 level and dovish comments from U.S. Federal Reserve Chair Jerome Powell suggest that loose monetary policies will remain in place for the foreseeable future. Generally, the crypto ecosystem is “cautiously optimistic” about further price rises as the fallout
A bankruptcy judge conditionally approved a Disclosure Statement on Puerto Rico’s $35 billion debt restructuring proposal, sending it to debt holder voters later this year. The Puerto Rico Oversight Board told the bankruptcy court during the Thursday hearing that the board was considering two alternative approaches to passing its Plan of Adjustment after Puerto Rico
Yuriko Nakao | Getty Images The U.S. Marshals Service, one of the primary law enforcement agencies of the Department of Justice, has hired custodian Anchorage Digital for cryptocurrency seized or forfeited in various criminal cases. The Marshals Service has spent more than a year seeking a custodian and financial services provider for its stockpile of
The 20th anniversary of the 9/11 tragedy is less than two months away. There will be many commemorations, many reflections on how downtown New York and the country has changed since then. But for the people who lived and worked downtown during that time and are still with us, this is also time to take
Federal Reserve Jerome Powell testifies during a Senate Banking Committee hearing on “The Quarterly CARES Act Report to Congress” on Capitol Hill in Washington, U.S., December 1, 2020. Susan Walsh | Reuters The Federal Reserve has edged closer to winding down its bond buying program, but some market pros say the central bank could now
Real estate agents perform a critical function in the American housing landscape, bringing buyers and sellers together and making certain each side is responsibly represented. Recently, however, a number of class-action lawsuits and a Department of Justice (DOJ) investigation have been initiated against all the largest national real estate brokerages. These attacks contend that, because
Major credit ratings agencies this week downgraded China’s most indebted property developer Evergrande, as concerns over Asia’s junk bond sector rise. Fitch Ratings on Wednesday downgraded China Evergrande one notch from B to CCC, saying that the negative developments surrounding Evergrande may weaken investor confidence, further pressuring its liquidity. A rating of CCC means there’s
The Federal Reserve has toyed for years with opening something called a standing repo facility to prevent short-term rates markets from blowing up. Following a 2019 disruption and another early in the pandemic, the central bank finally took that step. The Marriner S. Eccles Federal Reserve building Bloomberg News The permanent repurchase-agreement facility, one for
China’s securities regulator has sought to ease concerns among international investors and banks after tough new restrictions on private education companies sent shockwaves through markets. Regulators in Beijing held a call with executives from global investors, Wall Street banks and Chinese financial groups on Wednesday night, according to three people familiar with the matter. One
Bitcoin (BTC) traders might be feeling extra euphoric after the recent 35% rally, but data suggests bears are not too worried because a similar breakout took place in mid-July and the price failed to hold the $40,000 support. To understand how bullish investors are this time around, let’s take apart the derivatives data and look
Municipals were a touch weaker outside of 15 years Wednesday as U.S. Treasury yields rose after the Federal Open Market Committee minutes were released but pared back losses as the afternoon progressed and were back at Tuesday’s levels near the close. The tapering conversation continues, but Federal Reserve Board Chair Jerome Powell said the FOMC
Just $20 million of the $1 billion in cryptocurrency that Ethereum (ETH) co-founder Vitalik Buterin donated to a Covid-19 relief fund in India has so far been cashed out and distributed to aid recipients. Figuring out why the process is not as frictionless as crypto users would hope is the focus of a recent interview
Changpeng Zhao, CEO of Binance, speaks during a TV interview in Tokyo, Japan, on Thursday, Jan. 11, 2018. Akio Kon | Bloomberg | Getty Images The boss of cryptocurrency exchange Binance says he’s willing to step down from his role as the company seeks to become a regulated financial institution. Speaking at a virtual press
In this article TDOC SBUX GOOGL AAPL The logo of Alphabet Inc’s Google outside the company’s office in Beijing, China, August 8, 2018. Thomas Peter | Reuters Check out the companies making headlines Tuesday after the bell: Alphabet — Google-parent Alphabet saw its shares jump about 3% after a blowout quarterly earnings report. The technology
The views of Mexico’s San Miguel de Allende command premium prices that luxury homebuyers happily pay. The beyond picturesque views of San Miguel de Allende truly matter to luxury buyers, according to Joseph W. Lown, a top producing agent at the leading luxury brokerage firm CDR San Miguel. “Because of topography, views are the number one
A “For Sale” sign is seen in front of a home on May 30, 2019 in Miami, Florida. Joe Raedle | Getty Images Home prices continue to break records, as strong demand slams up against weak supply. Nationally, prices in May were 16.6% higher than in May 2020, according to the S&P CoreLogic Case-Shiller home
The Puerto Rico Oversight Board reached a deal for an improved treatment of the Puerto Rico Infrastructure and Finance Authority rum tax bonds with two bond insurers, which had been key opponents of the central government debt deal. The board announced the deal with Ambac Assurance and Financial Guaranty Insurance Company Tuesday morning in a
Apple, Microsoft and Alphabet said on Tuesday that their latest revenues and earnings had surged above the stock market’s already optimistic expectations, confirming that demand for their digital services and gadgets continued to soar as some countries began to emerge from the pandemic. Apple Apple’s profits almost doubled in its latest quarter to $21.7bn, as
The International Monetary Fund (IMF) has warned against adopting cryptocurrencies, like bitcoin, as legal tender. Noting numerous risks and costs involved, the IMF does not see crypto assets catching on as a national currency. IMF Warns of Risks in Adopting Cryptocurrencies as National Currency The International Monetary Fund (IMF) published a blog post on Monday
Decentralized finance (DeFi) remains one of the fastest-growing subsectors of the cryptocurrency ecosystem and newly launched platforms looking to grow their userbase and attract liquidity typically offer high-interest staking pools for the first few weeks after launching. One new project that has steadily gained traction in terms of user growth and total value locked (TVL) since
Municipals were slightly firmer in secondary trading while new-issues were repriced to lower yields from initial pricing wires. U.S. Treasuries were stronger and equities sold off ahead of the FOMC meeting Wednesday. The current market technicals combined with a slowdown in issuance is creating a general malaise in the municipal market, according to a New
Developers of privacy-oriented cryptocurrency Monero (XMR) have identified a bug that could potentially impact users’ transaction privacy. On Monday, the official Monero Twitter account warned users of a “rather significant bug” that has been spotted in Monero’s decoy selection algorithm, a system designed to hide real output transactions among 10 decoys in a ring. First
Jeff Bezos holds the aviation glasses that belonged to Amelia Earhart as he speaks during a press conference about his flight on Blue Origin’s New Shepard into space on July 20, 2021 in Van Horn, Texas. Joe Raedle | Getty Images Blue Origin founder Jeff Bezos on Monday offered to cover billions of dollars of
In this article COIN AMP FFIV TSLA The logo of Tesla seen at one of its showroom. Tesla announced its Q1 2021 earnings today. Toby Scott | LightRocket | Getty Images Check out the companies making headlines after the bell: Tesla — Shares of Tesla edged more than 2% higher in extended trading after the
Actor-screenwriter Deon Cole, known for his role as Charlie Telphy on the ABC comedy Black-ish and the spin-off series Grown-ish, has bought a home in the San Fernando Valley region of Los Angeles for $5.7 million, according to real estate sources familiar with the deal. The Italian villa-style home in Encino has more than 8,000 square feet of living
simonlong | Moment | Getty Images Consumer losses due to Covid-related fraud top $500 million, according to data from the Federal Trade Commission. The agency has received more than 558,000 complaints from consumers related to the pandemic since the start of 2020. About 60% of the complaints were associated with fraud, citing an aggregate loss
Municipals were stronger on the short end, hitting record low levels for the second time this year, in quiet trading while U.S. Treasuries were treading water and equities did much the same as all markets await Wednesday’s Federal Open Market Committee meeting announcement. Triple-A benchmarks moved one to two basis points lower inside of five
Multimillion-euro fines can force Big Tech companies to change their behaviour, despite their deep pockets, the president of the French Competition Authority has argued. Isabelle de Silva said she did not believe sanctions could be played down as merely “the cost of doing business”, breaking away from the consensus in the EU, where competition officials
Bull market optimism returned to the cryptocurrency market on July 26 after Bitcoin (BTC) price rallied above the $40,000 level for the first time in over six weeks. Today’s rally to $40,581 was a continuation of the July 25 breakout which saw BTC price rocket to $48,110 at Binance af a short squeeze resulted in