Coinbase must face a negligence lawsuit from customers who bought bitcoin cash (BCH) following its allegedly botched listing on the exchange during the 2017 bull market, a judge has ruled. U.S. District Judge Vince Chhabaria of the Northern District of California dismissed the plaintiffs’ fraud and unfair competition claims against Coinbase, and the negligence claims brought by
Month: August 2019
Custom Closets opens up at the Farmer’s Market in Los Angeles. Josh Cho Photography The Container Store is best known for having a solution to every storage-related problem. From t-shirts to snacks, there’s a container for everything. Now the big-box retailer is changing things up by launching a new concept dedicated almost exclusively to their custom
People look at a home for sale during an open house on April 16, 2019 in San Francisco, California. Justin Sullivan | Getty Images Falling mortgage rates and strong employment drove consumer confidence in housing to a record high in July, according to a monthly index from Fannie Mae. At the same time, bidding wars
Bank stocks are getting slammed this week as the trade war heats up, but according to some analysts, that selling is misplaced. Wall Street took collapsing bond yields Wednesday to mean trouble for the economy, and investors fled positions in the largest U.S. financial institutions. Shares of J.P. Morgan Chase and Bank of America led
Bitcoin has always dominated the cryptocurrency market. But for the first time since December 2017—when Bitcoin was valued at $20k per coin—Bitcoin dominance is nearing 70%. It’s a significant indicator of the current sentiment surrounding the world’s largest digital asset. It also leaves a sizeable question mark over the future of the hundreds of altcoins
View Bitcoin’s move above $12,000 is backed by an uptick in trading volumes and bullish readings on the daily chart. BTC could close well above $12,000 today, confirming a falling channel breakout on the daily chart and extend gains toward $13,200 (July 10 high) in the short-term. The 4-hour chart is reporting overbought conditions and
The municipal bond market started to see supply come in, as a bunch of deals priced both on the negotiated and competitive sides. Today’s issuance was an appetizer for Wednesday, the main course that looks like it will be the busiest day of the year. “Demand for munis continues to demonstrate unwavering retail support as
CEO of the Walt Disney Company, Bob Iger. Michael Kovac | Getty Images Check out the companies making headlines after the bell: Shares of Walt Disney fell more than 4% in after-hours trading after the entertainment giant’s third-quarter earnings missed Wall Street’s estimates. Disney reported adjusted earnings of $1.35 per share on revenue of $20.25
US cryptocurrency lending startup BlockFi has raised $18.3 million USD in a funding round led by Valar Ventures, the company announced on Tuesday. BlockFi is the first company of its kind to receive institutional funding for crypto-based loans in US dollars, in the form of a $50 million lending facility from Galaxy Digital. The new
The price of bitcoin’s recent rise above $12,000 was stopped short a few hours into its rally, with prices sliding by more than $1,000 over the course of the U.S. trading session that followed. Beginning 10:15 UTC and lasting until 22:15 UTC, BTC witnessed a large pullback, followed by a small bounce near $11,200, providing
Neoclassical and stately, The Mount overlooks a series of formal gardens. Regina Cole Edith Wharton built The Mount in Lenox, Massachusetts in 1902 as a country retreat for herself and her husband, Teddy Wharton. The 1,700 square foot house – half of which was given over to servants and their work – was modeled after
Borut Trdina | Getty Images Wealthy investors are trimming their stock positions, amid anxiety around a trade war and instability in Washington. Members of TIGER 21, an investment club for high-net-worth individuals, reduced their stock allocation to 21% from 22% during the second quarter, according to the group’s quarterly report. TIGER 21, a group of
CNBC’s Jim Cramer said he was “aghast” at the huge swing between the sharp decline in stock futures Monday evening and the strong Wall Street open Tuesday. The “Mad Money ” host blasted “pajama traders,” the term he coined for those who buy and sell futures contracts, often based on computer algorithms, during market off-hours.
The pending sale of a bond-financed manufacturing facility in Minnesota to a commercial modular-construction company would fully pay off bondholders first hit with defaults in 2011. The payoff would retire bonds that have fluctuated in price based on the project’s fortunes, hitting lows of 30 cents on the dollar as the lease changed hands, leading
The Trump administration took the trade war up another notch, calling China a currency manipulator and ratcheting up expectations that the White House has other moves it could make to retaliate against China. Last used in the 1990s, the designation was announced by the U.S. Treasury Monday after U.S. markets closed out a turbulent session.
As per a report, Canaan Creative, the major Bitcoin miner manufacturer, is supposed to have confidentially filed for an IPO in the US. As Bitcoin has grown into one of the biggest cryptocurrencies in the world, a range of industries have cropped up that are seeking to provide services that will help create a more
View Bitcoin looks set to test falling channel resistance at $12,030, having invalidated a bearish lower-highs pattern earlier today. The rise in bitcoin’s dominance rate to the highest level in over two years indicates the price rise is sustainable. A UTC close above $12,030 would confirm the falling channel breakout and allow a rally to
Lauren Kalmat of Vis-Home Your home is your castle, and now’s your chance to own one that belonged to music royalty. A Detroit-area property owned by the late Queen of Soul Aretha Franklin is for sale. The house had been listed at $800,000 in October and was removed from the MLS about six weeks later.
A real estate agent, left, with prospective buyers in Doral, Florida. Getty Images Escalating tensions over a trade war with China sent investors rushing to the relative safety of the bond market late last week. That pushed the yield on the 10-year Treasury, which mortgage rates loosely follow, down sharply. The average rate on the
A cyclist passes the Federal Reserve headquarters in Washington. Kevin Lamarque | Reuters The U.S. Federal Reserve announced on Monday it planned to develop its own round-the-clock real-time payments and settlement service, with an expected launch in 2023 or 2024. In a statement, the U.S. central bank said it was seeking public comment on the
The wait is over. After seven months without seeing one week of double-digit issuance, municipal bond investors will finally get a supply surge. There is an estimated $12.6 billion of new issuance slated for the upcoming week, with 32 deals scheduled $100 million or larger, 9 of which are competitive sales. There are also three
Wages picked up and hiring continued strong in July but at a much slower pace than last year, reflecting an economy heading toward full employment but still with workers looking to move into the labor force. The economy added 164,000 nonfarm payrolls in July, just as expected, but revisions reduced job growth in May and
The month has got off to a fairly promising start for a crypto sphere with Bitcoin managing to gallop past the $10,000 mark and many other tokens gaining significantly in the aftermath. While it is true that Bitcoin is almost always the leader of the market in terms of gains when the crypto space starts
Jemina Joseph, 18, is working a summer job as a social media manager for a crypto startup after graduating from high school in the Bronx. And she learned how to make her first cryptocurrency transaction, a purchase using zcash, with the Flexa mobile app. It was a summer day, so hot the air outside felt
The great room is lined with floor-to-ceiling windows, and a sofa is built into the steps. Heritage Auctions A live auction will be held August 12 for the Sondern-Adler house, a Kansas City, Missouri home that inspired famed architect Frank Lloyd Wright to call it “a little gem.” Heritage Auctions is preparing to hold the
Home prices continue to gain, and while the gains were still shrinking in May on a national level, some markets are seeing stronger price appreciation yet again. Nationally, home prices rose 3.4% annually in May, down from the 3.5% annual gain in April, according to the S&P CoreLogic Case-Shiller home price indices. The 10-city price
China’s President Xi Jinping and U.S. President Donald Trump attend a welcome ceremony at the Great Hall of the People in Beijing on November 9, 2017. Nicholas Asfouri | AFP | Getty Images Wall Street strategists are preparing for what they call “a major escalation” in the wake of President Donald Trump’s announcement that a
The Trump administration is planning to place restrictions on disaster aid for U.S. states and territories, holding up $8 billion that Puerto Rico is relying on to rebuild from Hurricane Maria and reverse an economic rout that drove the government into bankruptcy. The Department of Housing and Urban Development plans to release rules for accessing
Traders work on the floor of the New York Stock Exchange. Getty Images Check out the companies making headlines midday Friday: Pinterest — Pinterest’s stock soared more than 20% after the social media company topped estimates for its second quarter revenues and surpassed 300 million monthly active users. The company reported $261 million in revenue
CoinDesk reports that new crypto derivatives platform FTX has launched one of the most abstract and strangely-named futures index fund in the cryptocurrency market. The index, dubbed Shitcoin Index Perpetual Futures or SHIT-PERP, is a 58 low market cap coins index. It is flanked by other low-cap indices ALT-PERP and MID-PERP and includes projects such