New details are emerging about a planned $1 billion token sale to be held by iFinex, the parent company of Bitfinex and Tether, two cryptocurrency companies currently being sued by the state of New York for allegedly covering up a $850 million loss in customer funds. Released today on Twitter by known company shareholder and
Month: May 2019
The Wall Street Journal has reported that Facebook is in talks with various e-commerce companies and financial firms to support its crypto payment that is under development. So far Facebook has engaged MasterCard and Visa about the project that is known as Project Libra. Crypto Payment Facebook is expected to commit $1 billion to the
(AP Photo/Bullit Marquez) ASSOCIATED PRESS The Philippines is already caught in China’s web, but there’s still the time and a way to escape from it. The time is now that its economy isn’t heavily dependent on China. And the way is by saying “no” to Chinese investments that could leave the country heavily indebted to
CNBC’s Jim Cramer on Friday said Occidental Petroleum‘s borrowed an “ill-advised” $10 billion from Warren Buffett to further a bidding war with Chevron for Anadarko. To raise enough capital, Occidental now has a loan from Berkshire Hathaway with an 8% interest rate, which is worth as much as $20 billion, he said. That could be
Another Fundstrat prediction has emerged. This time there’s no messing about; the firm predicts that Bitcoin will hit $20,000 USD next year. You can bet investors are sitting up. Fundstrat has made calls that have come true in the past, so should we listen this time around? Fundstrat Prediction The most recent prediction the research
With gold on the defensive and down roughly 6 percent since mid-February, bitcoin may continue to shine brightly in the near future. After all, experts have found the two assets to be inversely correlated. The 90-day correlation coefficient between bitcoin and gold – a statistical measure of linear interdependence between the two variables – is
Municipal bond buyers will see a relatively healthy new-issue slate with some big names passing by in the upcoming week. IHS Markit Ipreo forecasts weekly bond volume will rise to $6.5 billion from a revised total of $5.4 billion in the prior week, according to updated data from Refinitiv. The calendar is composed of $4.1
Belarus-based tokenized securities exchange Currency.com has announced it is launching to the public today after a spell in beta mode since January. The platform – which claims to be the world’s first such exchange – allows investors to directly trade and invest in tokenized financial instruments, with payment being made directly in bitcoin (BTC) or
Art Cashin David A. Grogan | CNBC Stocks are hitting resistance now, and it’s about time. The S&P 500 surged 40 points in just six days, hitting historic highs on Tuesday, but we’ve already given up most of those gains, down 30 points since the open on Wednesday. You can blame oil’s drop for part
A trader works ahead of the closing bell on the floor of the New York Stock Exchange (NYSE) on April 12, 2019 in New York City. Johannes Eisele | AFP | Getty Images A trade agreement between the U.S. and China could be a strong catalyst for stocks, even though analysts say the market may
When something becomes mainstream, we have to expect that some people will abuse it in some shape or form. In the case of cryptocurrency, we have seen several crypto scams surface over the past two years. The latest is a Bitcoin scam, announced this week by the NYPD. Here’s what we know. Everything We Know
Closing on a property can be both exciting and stressful. You hope that everything will go smoothly, so that you can start enjoying your new home, or get to work on renovating your new purchase to attract tenants. In order to make that happen, you need to be sure to keep everything in check. Of course
Firefighters battle flames overnight during a wildfire that burned dozens of homes in Thousand Oaks, California, November 9, 2018. Eric Thayer | Reuters Extreme weather, from floods to wildfires to high-category hurricanes, is causing ever more damage to neighborhoods. Now, new research shows that much of the nation’s housing stock may be underinsured against these
Dara Khosrowshahi, CEO, Uber Carlo Allegri | Reuters Here are the biggest calls on Wall Street on Friday. Atlantic Equities initiated Uber as ‘neutral’ Atlantic Equities said Uber’s path to profitability is clearer. “Given the benefits of scale, we prefer Uber, with its market-leading ridehailing position augmented by the fast growing Eats business and freight
View Bitcoin is looking north, having closed above the 21-month exponential moving average (EMA) on April 30. Forcing a quick rally to $6,000, however, may be difficult for the bulls, as a number of key resistance levels are lined up in the $5,400–$5,900 range. The short-term outlook will remain bullish as long as the price
The Florida legislature’s “persistent political interference” in the operations of the Miami-Dade County Expressway Authority resulted in a one-notch downgrade of the authority’s bonds. State lawmakers underscored the point a day later by passing a bill to dissolve the authority. Florida Sen. Manny Diaz, R-Hialeah Gardens, said there are “guardrails” in the expressway authority legislation
Cryptocurrency exchange Binance is continuing to ramp up its regulatory compliance efforts. The exchange has just partnered with blockchain analytics startup Elliptic to boost its compliance and security capabilities, Elliptic announced Thursday. The new partnership – the third relating to compliance in the last two months – will help Binance combat money laundering as it grows
On May 2, CNBC published an interview with Nikhil Rathi, the CEO of the London Stock Exchange, a 300-year old trading venue. In the interview, Rathi gave hints that the LSE is looking at blockchain technology. Here’s what we know. Enter Your E-mail Address To Subscribe * indicates required Email Address * I want e-mail
Will Blockchain Make Poverty Obsolete? iStock Why is it that capitalism seems to work so well in Western countries and fails the majority of the world that is living in poverty? According to the economist Hernando de Soto, the answer lies in something that he calls “dead capital” – assets without proof and liquidity. Developing
View Bitcoin activated twin bullish cues with a 28 percent gain in April: a falling channel breakout on the monthly chart and a close above the 21-month exponential moving average (EMA). Prices have again bounced from the historically strong 30-day moving average support, currently at $5,184. This, coupled with the bullish developments on the monthly
Investors in health-care stocks could be forgiven for asking: “What rally?” While the Dow Jones Industrial Average and the S&P 500 index have both soared more than 20% from their Christmas Eve lows, health-care stocks have gained less than half as much. As the S&P SPX, +0.06% sets new all-time highs and the Dow DJIA,
CHICAGO — Veteran-owned Multi-Bank Securities Inc. has hired its first public finance banker — Chicago-based professional Frank Paul — as it seeks to expand its municipal business by moving into negotiated sales. Paul joined the Southfield, Michigan-based firm last month as a senior vice president. He is charged with tapping his long-standing relationships and experience
A new type of decentralized finance (DeFi) app wants to boost crypto-market liquidity by offering you interest on your coins. Today at the Techstars Blockchain Accelerator demo day, Alkemi CEO Ryan Breen will unveil a crypto liquidity pool deal worth $16 million from industry veterans like Joseph Weinberg, chairman of the data network Shyft, and
Apple rallied nearly 5% on Wednesday, but CNBC’s Jim Cramer said there could soon be even more upside. “That’s why I always say own it, don’t trade it,” the “Mad Money” host said. “With this quarter, we got yet another reason to stick with Apple, and even after today’s terrific run, I think it will
Traders and financial professionals work on the floor of the New York Stock Exchange (NYSE) ahead of the opening bell, January 4, 2019 in New York City. Drew Angerer | Getty Images It is May, but this year don’t sell and get out just yet. The “Best Six Months” strategy has become legendary on Wall
Denis Doyle | Bloomberg | Getty Images Check out the companies making headlines after the bell: Shares of Qualcomm dropped as much as 5% in extended trading Wednesday despite the semiconductor company’s better-than-expected second-quarter earnings. Qualcomm reported earnings per share of 77 cents on revenue of $4.98 billion. Wall Street expected earnings per share of
Last week, news about the Bitfinex and Tether issue surfaced when The New York Attorney General’s office said it received a court order against iFinex, the company behind Bitfinex and Tether. While Bitfinex has issued a response to the claims made by the NYAG, the issue hasn’t gone away. If anything, things are worse. On
Inflation: a sustained increase in the general level of prices for goods and services. In more lay terms, it means as time goes on and inflation goes up, your buying power becomes less and less with the same amount of money. Remember in the mid-90s when $1 million dollars seemed like you were ready to
A luxury home with swimming pool is shown in Naples, Fla. A. Kurtz | Getty Images The nation’s priciest properties are in far less demand this year, and that is taking a toll on their values. Sales of homes listed at $2 million and above fell 16% in the first quarter, the sharpest annual decline
Annual underfunding of Birmingham, Alabama’s pension plan led a second rating agency to downgrade the city’s bonds. Moody’s Investors Service lowered the city’s issuer and general obligation limited tax bond ratings to Aa3 from Aa2 on Monday. Also downgraded to Aa3 from Aa3 were the Birmingham-Jefferson Civic Center Authority’s 2018D revenue bonds and the Birmingham