Category: Featured
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US Retail Sales Beat Expectations: 0.3% Growth in May
U.S. Retail Sales Show Resilience with 0.3% Increase in May Unexpected Rise in Sales Highlighting Economic Expansion Sales at retailers in the U.S. rose by 0.3% in May, defying forecasts of a 0.2% drop, according to a Wall Street Journal poll of economists. As retail sales account for around one-third of consumer spending, this increase […]
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ECB Set to Raise Borrowing Costs to 22-Year High
European Central Bank Likely to Raise Borrowing Costs A day after the Federal Reserve surprised markets with a hawkish message, it is now the European Central Bank’s (ECB) turn in the hot seat. Short-dated government bond yields in the United States and Europe are increasing, and bullish stock markets are beginning to feel less confident. […]
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Crypto Regulatory Bill: Major Step to Clear Confusion! Vote Coming Weeks!
House Republican Lawmaker Plans Vote for Cryptocurrency Regulatory Framework A key House Republican lawmaker, Representative Patrick McHenry, announced on Tuesday that he plans to hold a committee vote in the coming weeks on a comprehensive bill to establish a regulatory framework for cryptocurrency products. McHenry, chairman of the House Financial Services Committee, said he expects […]
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$100M+ Atomic Wallet Hack: Lazarus Group Strikes Again
Blockchain forensics firm Elliptic reports on Atomic Wallet hack On Tuesday, blockchain forensics firm Elliptic stated that losses suffered by Atomic Wallet users from an apparent hack have risen to over $100 million. The company has been tracking more than 5,500 wallets believed to have been targeted in the attack. According to Elliptic, the North […]
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SEC Chair: Top 4 Cryptos Not Securities, 70% Market Safe
Gary Gensler’s stance on crypto tokens as securities Before becoming the chair of the U.S. Securities and Exchange Commission (SEC), Gary Gensler had a clear view on the classification of crypto tokens. He stated on multiple occasions that bitcoin, ether, litecoin, and bitcoin cash likely did not pass the threshold for securities, while tokens issued […]
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Fed’s Balancing Act: Boosting US Employment Without Igniting Prices
Federal Reserve’s Dual Mandate: A Delicate Balance The Federal Reserve enacts monetary policies to stabilize prices and maximize employment in the U.S. economy. They must strike a delicate balance to ensure low, steady prices while setting a course for an economy that encourages everyone to get a job who wants one. “There’s an inherent conflict […]
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OpenAI CEO: AI Market Boom, 100M Users in 2 Months, Cutting Costs 10x Every Quarter
OpenAI CEO Sam Altman Discusses AI Growth and Affordability at Singapore Event The global demand for artificial intelligence continues to grow, and OpenAI CEO Sam Altman discussed the company’s vision for AI during a stop in Singapore as part of his world tour. He spoke to business founders, tech executives, and the public at the […]
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$100B Altcoins Plunge 23-32% Amid SEC Lawsuits
Altcoins Affected by Lawsuits Against Binance and Coinbase A slew of altcoins, making up over 50 cryptocurrencies worth over $100 billion, have seen their prices drop following the recent lawsuits filed by U.S. regulators against exchanges Binance and Coinbase. These cryptocurrencies, which make up about 10% of the overall market, are now viewed as securities […]
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SEC Stabilization Act Targets Gensler: GOP Lawmakers Propose Restructuring & 6th Commissioner
Republican Lawmakers Propose Legislation to Remove SEC Chair Gary Gensler House Majority Whip Tom Emmer, R-Minn., and Rep. Warren Davidson, R-Ohio, announced proposed legislation on Monday that seeks to restructure the U.S. Securities and Exchange Commission (SEC) and remove Gary Gensler as its Chair. “American investors and industry deserve clear and consistent oversight, not political […]
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US Crypto Exchanges Face SEC Pressure: JPMorgan Predicts Ethereum Dominance Boost
US Crypto Exchanges May Face Regulatory Pressure United States-based crypto exchanges, including Coinbase and Binance.US — both of which were sued by the Securities and Exchange Commission last week — could potentially face regulatory pressure to register with the agency, according to JPMorgan strategists. “Eventually, the SEC position might be confirmed by lawmakers and Coinbase, […]