The U.S. Securities and Exchange Commission (SEC) has charged Terraform Labs and its CEO, Do Hyeong Kwon, with fraud, alleging that Kwon and his company orchestrated “a multibillion-dollar crypto-asset securities fraud.” The securities watchdog insists that Kwon raised billions from investors by creating an “interconnected suite of crypto-asset securities,” many of which were involved in
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DoorDash enjoyed an after-hours trading bounce after reporting stronger-than-expected earnings for last year’s fourth quarter, showing signs of healthy post-lockdown growth for the food delivery business. DoorDash, the market-leading food delivery group in the US, ahead of Uber Eats, grew its monthly active user base to 34mn, up 28 per cent on the same period
Bitcoin (BTC) price rallied over 12% on Feb. 15, marking the highest daily close in more than six months. Curiously, the movement happened while gold reached a 40-day low at $1,826, indicating some potential shift in investors’ risk assessment for cryptocurrencies. A stronger-than-expected U.S. inflation report on Feb. 14 showed consumer prices rising 5.6% year-on-year,
In this article TXRH MRNA AMAT DKNG DASH Follow your favorite stocksCREATE FREE ACCOUNT Rafael Henrique | LightRocket | Getty Images Check out the companies making headlines in midday trading. DoorDash — The online food delivery platform’s shares jumped 7% after it reported a revenue beat and upbeat guidance. The company’s fourth-quarter revenue came in
The Pentagon’s top China official is to visit Taiwan in the coming days, a rare trip to the island by a senior US defence policymaker that comes as relations between Washington and Beijing are mired in crisis over a suspected Chinese spy balloon shot down two weeks ago. Michael Chase, deputy assistant secretary of defence
The chairman of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, Sherrod Brown, has called for a comprehensive regulatory framework for cryptocurrencies. “Recent crypto meltdowns have made clear that we need a comprehensive framework to regulate crypto products to protect consumers and our financial system,” said the senator. US Lawmaker Wants Comprehensive Regulatory
The Central Bank of Uzbekistan has permitted foreign-based businesses to open domestic bank accounts and deposit funds received from cryptocurrency trading. These companies will also be able to transfer the money abroad, but operations in the country will be restricted. Uzbekistan Updates Rules for Operations With Proceeds From Crypto Exchange Transactions The Central Bank of
The Georgia Ports Authority and the Army Corps of Engineers have signed an agreement to expand the Port of Brunswick, a move state officials said will help prepare the port for expansion. The agreement, announced Monday, clears the way for the Corps to begin dredging and widening certain sections of the port to accommodate larger
Municipals extended their sell-off Thursday, as the front end of the curve was hit the hardest. U.S. Treasuries were weaker, and equities ended in the red. Triple-A benchmarks were cut 13 to 17 basis points at the one-year, depending on the scale, pushing it to around 3%. Muni-UST ratios rose on the short end. The
Tesla is recalling nearly 363,000 of its electric cars because flaws in a version of its full self-driving software could cause crashes, according to a US government regulator. The recall covers certain Model S and Model X vehicles manufactured between 2016 and 2023, as well as Model Ys made since 2020. Tesla sold 1.3mn vehicles
US President Joe Biden plans to talk to Xi Jinping, his Chinese counterpart, to “get to the bottom” of the situation involving the suspected Chinese spy balloon that was shot down off the coast of South Carolina two weeks ago. Biden said he gave the order for a US fighter jet to shoot the balloon,
Most state officials are upbeat about the economy despite the apparent thinning out of the fat surpluses sitting in general funds and reserves, though the looming debt ceiling and prospect of a U.S. default is casting a pall over some of that optimism. That was a major theme struck by analysts and other stakeholders during
Puerto Rico’s economy grew in the fourth quarter of 2022, but an economist called it “non-organic economic recovery” and questioned whether it will continue. Puerto Rico’s preliminary Economic Activity Index rose 1.6% in December after a flat November and 0.4% growth in October on a month-to-month basis, the Economic Development Bank for Puerto Rico announced.
Play to Earn retro games with Bitcoin payouts may soon be making their way to a bar, conference, or meetup near you, according to a Feb. 12 Twitter post by Zebedee founder Christian Moss. The software is tentatively called “Bit-tendo.” Bitcoin Pay to Play & Play to Earn in Super Mario 3 on the original NES!
A group of Tesla workers say the electric-car maker fired employees a day after the start of a union organising drive and asked a US regulator to intervene. Workers United on Wednesday announced an effort to form Tesla’s first labour union at the company’s Gigafactory 2 plant in Buffalo, New York. On Thursday, the union
Rishi Sunak has launched a high-stakes gamble to seal a deal with Brussels over Northern Ireland, making a surprise visit to Belfast as Tory Eurosceptics warned he was going too far to accommodate the EU. The UK prime minister is seeking to win backing from Northern Irish parties for an outline deal with the EU
According to the latest court documents in the fraud case involving former FTX CEO Sam Bankman-Fried in Manhattan, the New York judge presiding over the case unsealed the co-signers of Bankman-Fried’s bond on Wednesday. The names of the two bail bond co-signers that were previously redacted from court documents are Stanford University alumni Larry Kramer
While the U.S. Federal Reserve (FED) continues to monitor the overheated economy, the most likely scenario is further interest rate hikes to curb inflation. The unintended consequence is the heightened government debt cost, creating a bullish environment for scarce assets such as commodities, stock market and cryptocurrencies. Bitcoin’s price gain practically extinguished bears expectation for
Issuers in the Far West sold $66.2 billion in municipal bonds in 2022, according to Refinitiv data, a 43% drop year-over-year from the $116.7 billion sold in 2021. California drives the nine-state region’s numbers, and a big falloff in issuance from the Golden State led the Far West to the biggest year-over-year drop of any
Illinois Gov. J.B. Pritzker unveiled a $49.6 billion general fund fiscal 2024 budget that banks on still-healthy economic trends to allow deposits into the budget and pension stabilization funds while lifting spending for education and other areas. The $49.6 billion general fund is part of a $118.9 billion spending package and taps most of $49.9
The municipal bond market has always operated at the intersection of politics and finance, but lately politics seem to have taken center stage. The latest salvo comes from Florida Gov. Ron DeSantis’ announcement this week that The Sunshine State would move to ban local and state issuers from consideration of environmental, social and governance factors