Singapore’s Court of Appeals has ruled against digital currency exchange Quoine on Monday in a landmark case relating to a breach of contract that saw the platform unlawfully reverse seven trades. The Straits Times reports that the case marks the first of its kind in the country’s history regarding a dispute involving cryptocurrency and concludes
Month: February 2020
Revolut, the London-based bank that allows users to purchase cryptocurrencies on its app, has raised more than $500 million in a Series D funding round. Revolut announced Tuesday the round, led by Silicon Valley venture capital firm TCV, means the bank is now valued at over $5.5 billion. Although investors from previous rounds have also
A Home Depot employee is seen outside a store in Los Angeles, California. Lucy Nicholson | Reuters Check out the companies making headlines in midday trading. Mastercard — Shares of Mastercard fell more than 4% after the credit card company issued a warning that the fast-spreading coronavirus could hurt its revenue this year. “Cross-border travel, and
A real estate agent readies a house for viewing in Venice, Calif. Anne Cusack | Los Angeles Times | Getty Images The housing market heated up at the end of 2019, and that was reflected in growing gains in home values. In December, home prices rose 3.8% annually on the S&P CoreLogic Case-Shiller National Home
Jamie Dimon, CEO of JP Morgan Chase, appears on CNBC’s Squawk Box at the 2020 World Economic Forum in Davos, Switzerland on Jan. 22nd, 2020. Adam Galica | CNBC JPMorgan Chase announced a pledge to facilitate $200 billion in environmental and economic development deals and will pull back from advising and lending to the coal
Over the years, the crypto space has seen plenty of remarkable rallies, and one of the more noteworthy ones in recent times has been that of Tezos (XTZ). The token has rallied by as much as 400% over the past six months, and when an altcoin rallies so strongly over a sustained period of time,
Municipal bonds yields continued their descent and once again rewrote the record books, as the flight-to-safety movement on fears of COVID-19 that took place Friday picked up right where it left off. Stocks were down in excess of 3% at press time while Treasury yields sank further, as spooked investors fled risky assets, such as
A new crypto bank tries to address some of the most fundamental issues for institutions that want to get into the space. An incredible amount of work has gone into convincing institutional investors that bitcoin (BTC) and other crypto should be on their radar. Now that many are convinced, however, they face some significant limitations
As U.S. stocks tumbled on Monday by the most in six months amid renewed coronavirus fears, bitcoin barely budged – at least in terms of the notoriously volatile cryptocurrency’s trading history. Bitcoin (BTC) was down 4.6 percent as of 6:17 p.m. UTC (1:17 p.m. ET) to $9,517. But a decline of that magnitude represents merely
Apple CEO Tim Cook attends the annual session of China Development Forum (CDF) 2018 at the Diaoyutai State Guesthouse in Beijing, China March 26, 2018. Jason Lee | Reuters Check out the companies making headlines midday: Nvidia, Advanced Micro Devices — Shares of Nvidia sunk more than 5% and Advanced Micro Devices tanked more than 6%
Daniel Acker | Bloomberg | Getty Images As coronavirus fears hit financial markets, U.S. bond yields are tanking, pushing mortgage rates that loosely follow the 10-year Treasury yield toward a four-year low. They could sink even lower. The average rate on the popular 30-year fixed mortgage hit 3.42% on Friday, according to Mortgage News Daily.
Billionaire Warren Buffett told CNBC on Monday that investors should not reach for yield beyond their risk-tolerance, even with interest rates so low and stocks seemingly like the only place to get a return. “If you need to get 3% and you can only get 1%, the answer is … you should always adapt your
Federal Reserve Vice Chairman Richard Clarida disputed suggestions that the central bank suffers from a “hall of mirrors” problem under which it slavishly follows financial-market expectations for monetary policy. “In my experience this affliction is one the Federal Reserve guards against and does not suffer from,” he said in a speech to be delivered Friday
Michael Casey is chief content officer at CoinDesk. The following is part of “The Token Economy,” an essay in Alex Tapscott’s new book “The Financial Services Revolution.” Blockchain technology, and the cryptocurrencies, tokens and other digital assets it has engendered, may be moving us toward a model of programmable money that incorporates an automated internal
The best Sundays are for long reads and deep conversations. Earlier this week the Let’s Talk Bitcoin! Show gathered to discuss catalysts and CEOS in the world of blockchain projects, the organizational and organic structures of decentralization and to wonder whether crypto even needs Satoshi-like catalysts now that the fire of blockchain burns bright. On today’s podcast
A man (C) wearing a facemask as a preventative measure following a coronavirus outbreak which began in the Chinese city of Wuhan, offers money as he reacts after being refused purchase of a box of face masks, after he claimed to have lost his sales registration ticket while queueing up to buy them, in Hong
Rob and Reshawn Lee bought a four-bedroom home in the suburbs of Dallas, Texas for $300,000. They purchased the home in 2013 and paid it off in 2018. The couple wanted to start their own businesses and felt the flexibility of not having a mortgage payment would give them the confidence to quit their well-paying
Apple Inc. CEO Tim Cook attends China Development Forum (CDF) 2018 at the Diaoyutai State Guesthouse on March 24, 2018 in Beijing, China. China Development Forum (CDF) 2018 is hosted by the Development Research Center of the State Council of China on March 24-26 in Beijing. Visual China Group | Getty Images The coronavirus continues
The growth in the crypto space over the past half a decade or so has been primarily fueled by the emergence of crypto exchanges like FCoin, among others. While that may be true, it should also be kept in mind that many such exchanges have floundered due to a variety of reasons, and such a
The municipal market rallied up to 7 basis points on Friday following Treasuries while equities continued to sell-off on COVID-19 fears as it spreads around the globe. The muni 10-year landed at 1.09% and the 30 at 1.69%. U.S. Treasury yields plummeted as the 10-year hit the lowest since September at 1.47% and the 30-year
Lending and borrowing cryptocurrencies is becoming an increasingly important sub-sector of crypto finance, one that may end up shaping how the underlying assets themselves are valued and priced in the markets. While still in its infancy, the growth of crypto lending platforms has given birth to a new type of measuring metric: interest rates, which
CoinDesk reporter Leigh Cuen is joined by Isaiah Jackson, author of “Bitcoin and Black America” and co-founder of KRBE Digital Assets Group, to talk about financial discrimination in the United States and the unique value bitcoin can offer minority communities. According to a survey of 5,126 Americans conducted by Coinbase and Qriously, “Twice as many
A contractor for First Solar Inc. works on construction of the Tenaska Imperial Solar Energy Center South project in Imperial County, California. Sam Hodgson | Bloomberg | Getty Images Check out the companies making headlines after the bell: Dropbox — Shares of the data services company soared 13% during extended trading after the company announced
Rob and Reshawn Lee decided to quit their jobs in their 40s. Rob had a successful career in IT, and Reshawn worked in sales. Together they would take home over $200,000 in a good year. In 2013, they purchased a $300,000 home near Dallas, with a 15-year loan, putting 10% down. Then they both got
A contractor prepares a sliding door for a home under construction at the Toll Brothers Inc. Enclave at Rye Brook housing development in Rye Brook, New York Michael Nagle | Bloomberg | Getty Images Owning a home has long been the individual investor’s opportunity to hold real estate. But the American millennial population is waiting
Over the past year or so, XRP is probably one of the few major cryptocurrencies that have not enjoyed any meaningful gains, and much of the blame has been laid at the door of the fintech firm Ripple. The San Francisco-based company owns the highest number of XRP tokens. Uncertainty in the Crypto Market Currently,
Illinois Gov. J.B. Pritzker’s proposed fiscal 2021 budget doesn’t raise any red rating flags, Moody’s Investors Service lead state analyst Ted Hampton said. That was the good news from an initial assessment offered by Hampton as all three rating agencies that rate the state’s general obligation bonds begin their deep dive into the $84.5 billion
Reginald Fowler, an alleged operator behind payment processor Crypto Capital, was charged with wire fraud Friday, on top of existing charges of bank fraud, operation of an unlicensed money transmission business and conspiracy. According to an indictment filed Friday, Fowler allegedly created a scheme to obtain money “by means of false and fraudulent pretenses” and
Sweden’s central bank will soon trial a blockchain-based digital currency – but it’s still in its very early stages, at best. Announced Thursday, Sveriges Riksbank’s e-krona pilot is the latest attempt at a central bank digital currency (CBDC) from an institution that for years fretted over basing any such project on distributed ledger technology (DLT).
Traders on the floor of the New York Stock Exchange. Brendan McDermid | Reuters The coronavirus outbreak ruined for investors what was a solid earnings reporting season and is casting a pall on forecasts for this quarter and the rest of this year. And now with most of the earnings season in the books, look
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