Plans for a new $7 billion, tax-increment-financing supported neighborhood taking shape just south of Chicago’s downtown took a step forward Wednesday as the state released $500 million in capital funding to move a University of Illinois’ technology and innovation research center to the site. The University of Illinois’ Discovery Partners Institute will anchor the first
Month: February 2020
Ohio resident Larry Dean Harmon, 36, has been charged with laundering more than $300 million in bitcoin for darknet marketplace AlphaBay. The man from Bath Township, about 30 miles south of Cleveland, was arrested Feb. 6 for conspiracy to commit money laundering, operating an unlicensed money transmitter business and money transmission without a license, according
With blockchain puppets (we really mean it) on TV, CNBC pushing the bitcoin-as-gold narrative and The Guardian seeing connections between coronavirus and bitcoin’s recent rally, we’ve got a lot to talk about on today’s episode of The Breakdown. After Monday’s quick retrace, bitcoin and the rest of the market went green again. In this episode,
Shoppers enter a building housing a Bed Bath & Beyond Inc. store in New York. Mark Kauzlarich | Bloomberg | Getty Images Check out the companies making headlines in midday trading. Lyft — Lyft shares dropped nearly 9% after the ride-sharing company failed to update its timeline on when it would become profitable. This overshadowed
The soaring One Bennett Park adds a dramatic presence to Chicago’s distinctive skyline. PeterAaron/OTTO Developer Related Midwest announced Tuesday that One Bennett Park, its recently completed 70-story luxury residential tower in Chicago’s Streeterville neighborhood, was named the 2019 Residential Project of the Year as part of the Construction Industry Service Corporation’s Pride in Construction Awards.
A real estate agent shows a home to a prospective buyer in Miami. Getty Images Mortgage lenders were busy last week, but mostly with current homeowners looking to take advantage of low mortgage rates. Total mortgage application volume increased 1.1% compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. Refinance
Tourists take a picture with the market bull near the New York Stock Exchange in New York City. Spencer Platt | Getty Images For decades investing legend Bob Farrell was a top Wall Street strategist known for predicting changes in overall stock market direction. Farrell, 88, was the chief stock market analyst and senior investment
Dante Disparte, Vice-Chair of the Libra Association, said that he was unconcerned by recent high-profile departures from the project just two weeks after Vodafone became the latest name to ditch the proposed digital coin. Speaking to CoinDesk at the World Economic Forum in Davos last week, Disparte said that the Libra project was picking up
Many stock market bulls are expressing surprise that a net $88 billion was pulled out of U.S. equity funds and ETFs last year. They would have predicted that the net fund flow would have been in the opposite direction. After all, the stock market in 2019 had one of its best years in modern U.S.
California-based financial advisory firm Fieldman, Rolapp & Associates is expanding to Seattle and bolstering its base with two new hires. Un Chu Reardon, hired as a senior vice president, comes over from Raymond James’ Seattle office. Reardon, who was originally hired to work for Raymond James in San Francisco, will launch a new regional practice
A group specializing in hijacking victims’ computer power to mine for monero has returned with new tools to attack businesses based in the U.S. and Europe. Japanese cybersecurity firm Trend Micro reported Monday the group, known as Outlaw, had begun infiltrating Linux-based enterprise systems in order to hijack computer power and mine for the privacy
Blockstack is integrating the security and the incentives of bitcoin to its ecosystem. CEO Muneeb Ali explains the changes. Last week, Blockstack announced a new proposal through which node operators would be rewarded in bitcoin. The concept behind Proof of Transfer is that, for the cryptoasset ecosystem to run, electricity should only have to be
Shoppers pass an Under Armour store in White Plains, New York. Scott Mlyn | CNBC Check out the companies making headlines in midday trading. Under Armour — Under Armour’s stock plunged more than 18% after missing revenue estimates for the fourth quarter. The sports apparel company reported adjusted earnings of 10 cents per share, in line
Renovations include new floor tiles and a switch from brass accents to stainless steel at the CambridgeSide mall in Cambridge, MA on Jun. 13, 2017. Lane Turner | The Boston Globe | Getty Images UBS is reportedly racing to stanch outflows at its landmark $20 billion real-estate fund amid worries about its retail holdings and
The outbreak of the coronavirus is a “true black swan” for the oil and energy market, and as crude prices continue to move lower the worst may not be over yet, Ned David Research said in a note to clients Monday. Analyst Warren Pies noted that the outbreak has reduced Chinese demand for oil by
Over the years, the Ethereum network has slowly but surely grown into one of the most influential blockchain networks in the industry. Over the years, plenty of institutions have established their proprietary networks on the Ethereum blockchain, and that is one of the major reasons behind this blockchain network. In a new development that will
At this time last year, Bitcoin was in the middle of a rollicking rally, and the situation seems to have panned out in the same way in 2020. In a development that will come as a big boost for those who have invested in the world’s biggest cryptocurrency, BTC reached its highest level since October
The Puerto Rico Oversight Board announced a new debt restructuring deal offering recoveries of between 54.1% and 65.8% for general obligation bonds and 70.9% and 76% for Public Building Authority bonds. It also provides as little as 3% for $16 billion of Employees Retirement System bonds and bonds subordinated to GO debt in Puerto Rico’s
It started with a $9,000 data software contract for the FBI in 2015. But just five years later, Chainalysis is now the cryptocurrency-tracing equivalent of Palantir, the data analytics company flush with lucrative government software contracts. Chainalysis is, right now, doing millions of dollars worth of business each year with the U.S. government, dwarfing its
Will a newly proposed “safe harbor” transform the U.S. regulatory landscape for token projects? CoinList CEO Andy Bromberg discusses. Last week, SEC Commissioner Hester Peirce proposed Rule 195 to give token projects a three-year safe harbor. This proposed period would allow them to distribute tokens without fear of violating securities law so long as they
Elon Musk, co-founder and chief executive officer of Tesla Inc., speaks during an unveiling event for the Tesla Model Y crossover electric vehicle in Hawthorne, California, U.S., on Friday, March 15, 2019. Patrick T. Fallon | Bloomberg | Getty Images Check out the companies making headlines midday Monday: Tesla (TSLA) — Shares of Tesla rose
CNBC’s Jim Cramer said he’s rethinking his negative view toward the fate of American shopping malls following Monday’s announcement that Simon Property Group was buying rival Taubman Centers in a $3.6 billion deal. “I came away saying, I guess I’m just too negative on the thing I’m most negative about … the future of the mall,”
A Tesla Model S is displayed during the London Motor and Tech Show at ExCel on May 16, 2019 in London, England. John Keeble | Getty Images News | Getty Images Tesla’s valuation has soared well past other automakers, even those which produce millions more cars each year, causing Morgan Stanley to take a look
Throughout the course of 2019, altcoins wish-washed, but 2020 has been a great year for such coins so far, and one of the leading altcoin gainers has been ICON (ICX). As a matter of fact, the token has enjoyed a parabolic rally, and it seems likely that it is now on the radar of many
A dispute between Louisiana’s governor and treasurer landed in court Friday. Gov. John Bel Edwards, a Democrat, filed a lawsuit against Treasurer John Schroder, because he has refused to transfer money from the unclaimed property fund to the state’s general fund despite the fact that the Legislature approved the appropriation. Gov. John Bel Edwards filed
The best Sundays are for long reads and deep conversations. Earlier this week, the Let’s Talk Bitcoin! Show gathered to discuss the US tax treatment of “Virtual Currencies” and how scams find a home wherever opportunity exists, at least for a while. During our first segment, we’ll discuss: Virtual Currency Tax Fairness Act of 2020: The
Scammers have been impersonating CoinDesk reporters and editors in recent months, promising coverage of projects in exchange for a fee. At least two different victims have paid hundreds of dollars in bitcoin and ether to these crooks and contacted us only after realizing something was wrong. To be clear: CoinDesk does not, and will never
Russia could be holding up a decision on whether OPEC+ will make emergency production cuts. Analysts said Moscow’s apparent reluctance to make further production cuts seems to have delayed a technical committee’s recommendation to OPEC+ on whether to hold an emergency meeting. The technical committee, which consists of country representatives from OPEC and Russia, extended
A customer pushes a cart of outdoor items past a membership desk at a Costco Wholesale Corp. store in Naperville, Illinois. Daniel Acker | Bloomberg | Getty Images (This story is part of the Weekend Brief edition of the Evening Brief newsletter. To sign up for CNBC’s Evening Brief, click .) The deadly coronavirus continues
Over the past years, the altcoins market has grown at a breathtaking pace, and during this period, Bitcoin Cash (BCH) has emerged as one of the more popular ones. This week, BCH emerged as one of the biggest gainers in the crypto space and gained as much as 16% in the past 24 hours as
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