Category: Featured
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Brazil’s Groundbreaking Crypto Tax Law Signals Evolving Market and Economic Growth
New Tax Law’s Revenue Projection and Incentives for Early Compliance The Brazilian government expects this new tax to generate approximately 20 billion reals ($4 billion) in revenue by 2024. To encourage early compliance, taxpayers who pay these taxes in 2023 will benefit from a reduced tax rate of 8% on all income earned until 2023. […]
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Market Futures Surge as Dow Sets Third Consecutive Record, Amid Volatility
What’s Behind the Market Movement? All three indexes are set to end the week with gains of over 2%. The Dow industrials have achieved back-to-back record closes and appear poised for another one today. The recent surge in stock market interest is largely driven by the outcome of this week’s Federal Reserve meeting. In a […]
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Cryptocurrency Exchange CoinList Settles $1.2M Sanctions Violation Case with U.S. Treasury
Background and OFAC Investigation CoinList, a well-known cryptocurrency exchange operating in the United States, has reached a settlement of $1.2 million with the Treasury’s Office of Foreign Assets Control (OFAC) in response to accusations of breaking sanctions regulations. OFAC disclosed on December 13th that CoinList had processed 989 transactions for users located in Crimea, a […]
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Nirvana Hack: Engineer Pleads Guilty, Returns $12.3M in Stolen Crypto to Victims
US Department of Justice Charges Ahmed in Relation to the Attack When the US Department of Justice brought charges against Ahmed, who was believed to be involved in the attack, it was discovered that the references matched those of the Crema Finance attack in July 2022. Blockworks reported this connection in their initial coverage of […]
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Markets Bet on Inflation Victory, But Fed’s Caution Raises Concerns
(CoinUnited.io) — ”’Market Confidence Overshadows Powell’s PrudenceAccording to Krishna Guha, vice chair of Evercore ISI, the central bank’s projection of three rate cuts in the coming year largely overshadowed Powell’s attempts to convey a sense of sensibility and caution with regards to the economic outlook. This sentiment was echoed by Stephen Stanley, chief U.S. economist […]
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Crypto Users Advised to Avoid Web Apps Amidst Ledger Cybersecurity Probe
Losses Reported, Users Urged to Exercise Caution BlockAid, a cybersecurity firm specializing in Web3 security, disclosed that substantial losses of approximately $150,000 have been incurred due to the integration of the malicious code into live websites. However, Ledger assured users that as long as they refrain from conducting transactions, their assets are safe. Ido Ben-Natan, […]
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Wall Street Soars as Apple Hits Record High and Fed Signals Rate Cuts
Fed Signals Lower Borrowing Costs in the Future Wall Street’s main indexes experienced gains on Thursday, driven by tech giant Apple reaching a record high. This followed the Federal Reserve’s announcement on Wednesday, indicating an end to its aggressive rate hike campaign and the potential for lower borrowing costs in the coming year. As expected, […]
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Fed’s Forecast Sparks Optimism: Mortgage Rates Hit Lowest Point Since May
Fed’s Monetary Policy Sparks Enthusiasm On Wednesday, the Federal Reserve released its Summary of Economic Projections, revealing the potential for up to three rate cuts in the upcoming year. Although the central bank decided to maintain its benchmark rate unchanged, the anticipation of future cuts caused mortgage rates to reach their lowest point in months. […]
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Index Rebalancing Signals Concern Over Market Concentration in Top Tech Stocks
Rebalancing Raises Concerns On Friday, the S&P 500 and Nasdaq will be rebalancing their respective indexes, a routine occurrence that carries potential implications for concentration risk. This rebalancing coincides with another significant trading event known as triple witching, which marks the expiration of stock options, index options, and index futures. Following triple witching, trading volume […]
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US Retail Sales Rise in November, Consumer Spending Remains Resilient
Retail sales, a metric that measures consumer spending on various everyday items such as cars, food, and gasoline, experienced a 0.3% rise in November, according to the Commerce Department’s recent report. Last month, sales excluding the more volatile categories of gasoline and autos increased by 0.6%. However, it’s important to note that the November advance […]