Category: Featured
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EDX Markets Launch: 4 Cryptos, Major Financial Backers
EDX Markets, Backed by Major Financial Firms, Set to Launch Cryptocurrency Exchange EDX Markets, a cryptocurrency exchange supported by major financial players such as Citadel Securities, Fidelity Investments, and Charles Schwab, is expected to go live later today. The platform will initially offer trading in four cryptocurrencies: bitcoin, ether, litecoin, and bitcoin cash. Targeting Brokers […]
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Crypto Firm Wyre, Valued at $1.5B, Shuts Down Amid Market Turmoil
Wyre to Wind Down Operations Due to Market Conditions Crypto payments firm Wyre has announced plans to cease its operations, attributing the decision to “market conditions.” The company aims to safeguard the interests of its key stakeholders and customers, and will maintain withdrawals open for clients until July 14. After that date, a process will […]
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Central Banks Diverge: ECB Hikes, China Cuts, Fed on Pause
World’s Biggest Central Banks Show Divergence in Monetary Policy Last week, the world’s biggest central banks demonstrated differing approaches to monetary policy, revealing a lack of synchronization in the global economy and a variety of economic cycles. The European Central Bank (ECB) surprised markets with a rate hike and a worsening inflation outlook, leading investors […]
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SEC Slams Crypto Sector: Noncompliance Drives Crackdown
SEC Official Defends Crypto Crackdown Amid Criticism from Industry A top U.S. Securities and Exchange Commission (SEC) official on Friday rejected criticism of the regulator’s cryptocurrency crackdown and slammed the sector for violating securities laws. SEC enforcement director Gurbir Grewal spoke at a Rutgers University and Lowenstein Sandler LLP event in New York, addressing the […]
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Fed: Bank Lending Tightening In Line with Interest Rate Hikes Despite Failures
Changes in Credit Conditions Amid Silicon Valley Bank Failure U.S. Federal Reserve Governor Christopher Waller stated that changes in credit conditions since the failure of Silicon Valley Bank in early March are “in line” with financial tightening that was already underway due to Federal Reserve interest rate increases and don’t yet point to a material […]
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Markets Defy Rate Hikes: S&P 500 in Bull Run, Global Stocks Gain 2.9%
Markets Rally Despite Central Banks’ Warning of More Interest Rate Hikes Despite the U.S. Federal Reserve halting its aggressive interest rate cycle this week and hinting at more hikes in the near future, stock markets continue to witness a red-hot rally. The S&P 500 share index has crossed into a bull market, and MSCI’s broad […]
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Mark Cuban Slams SEC’s Crypto Approach: Calls for Clear Guidance & Basic Registration
Mark Cuban criticizes SEC’s approach to crypto Billionaire investor Mark Cuban has argued that the Securities and Exchange Commission’s (SEC) approach to crypto leaves entrepreneurs and startups without clear guidance. He denounced the convoluted rules for startups to follow, particularly in the web3 space. Cuban suggested that the SEC and Congress should create a basic […]
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Texas Regulator Accuses Abra CEO of $116.79M Fraud & Deception
Texas State Securities Board Files Enforcement Actions Against Abra Entities The Texas State Securities Board announced on Thursday that it has filed enforcement actions against various entities collectively known as Abra, as well as its CEO Bill Barhydt. The actions allege that the respondents committed securities fraud and engaged in deception in connection with the […]
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5.4% Global Stock Surge: $185bn Equity Rebalancing to Favor Bonds
Global Stocks and Bonds Shift Directions, Analysts Predict Rebalancing in Favor of Bonds After several quarters where global stocks and bonds moved in the same direction, the MSCI World Index 990100, +0.34% has seen quarter-to-date returns of 5.4%, while the Bloomberg Global Aggregate Bond Index has seen returns of -1.4%, according to analysts led by […]
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Atlanta Fed President Bostic Admits More Forbidden Trades – Financial Disclosure Drama Continues
Atlanta Fed President Bostic Acknowledges Additional Issues with Past Financial Disclosures Atlanta Federal Reserve Bank President Raphael Bostic admitted to more issues with his past financial disclosures on Thursday, as financial disclosure forms for regional Fed bank leaders covering 2022 were released. Previously, Bostic acknowledged trades made by unmanaged funds held by him and his […]