Goldman Sachs reported an 18 per cent year-on-year drop in net income for the first quarter, weighed down by a slowdown in dealmaking and underperformance in its trading business. The drop in profits comes after what chief executive David Solomon had described as a “disappointing” end to 2022, which prompted the bank to undertake a
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Ethereum moved back above $2,100 on Tuesday, as markets reacted to the latest gross domestic product (GDP) report from China. Chinese GDP rose by 4.5% during the first quarter of the year, higher than the 4% expected. Bitcoin rebounded from earlier losses. Bitcoin Bitcoin (BTC) rebounded from a one-week low on Tuesday, as markets reacted
In 1964, when recognising “red” China was still career-death for a US president, Charles de Gaulle did just that. He later took France out of Nato’s integrated military command. On an epic, almost Homeric tour of Latin America, he pledged to that region his solidarity against an unnamed but not hard-to-guess hegemon. If never quite
press release As the traditional banking system experiences growing instability with the failures of Silicon Valley Bank, Signature Bank, Silvergate Bank, and Credit Suisse, more individuals are turning to decentralized finance (DeFi) as a secure and attractive alternative. Verse DEX, Bitcoin.com’s decentralized exchange, has been flourishing as a result, enjoying a rapid surge in Total
Zambia is set to complete real-life crypto usage simulations by the end of June, Felix Mutati, the country’s science and technology minister has said. The Zambian minister said his country is seeking a balance between innovation and consumer protection. Zambia Needs to Build Digital Infrastructure Before It Introduces Crypto According to the Zambian minister of
Chinese insurer Ping An said HSBC had “exaggerated” the “costs and risks” of spinning off its Asian operations, as the bank’s largest shareholder used a rare public statement to ramp up pressure on the lender to separate its business. Michael Huang, chair of Ping An Asset Management, said in a statement on Tuesday that although a
While bitcoin’s effect on the environment has been discussed at length over the last two years, the latest trend of artificial intelligence (AI) software is now being criticized for its carbon footprint. According to several headlines and academic papers this year, AI consumes significant electricity and leverages copious amounts of water to cool data centers.
Ethereum blockchain underwent a successful Shapella upgrade on April 12, making way for validators to withdraw their staked Ether (ETH) from the Beacon chain after three years. After seeing over a million ETH in withdrawals in the first week, the amount of staked ETH has now surpassed the number of ETH being withdrawn for the
A quarterly report focused on zero-knowledge (zk) technology indicates that privacy, scaling and identity solutions are major drivers of adoption in the blockchain space. Validator service provider zkValidator report’s titled ‘The State of ZK’ delves into insights from the zk space, highlighting major and emerging use cases, research, product launches and notable investment rounds. The key takeaway
Earth Day will be celebrated this year on Saturday, and it brings some good news for environmental advocates: Homeowners are starting to prioritize sustainability in their new construction and renovation projects, as observed in the latest American Society of Interior Designers report, published in February. For many years, this aspiration frequently gave way to budget
Russia is in the process of negotiating a free trade deal with India in order to substitute part of the products and investments that were banned by sanctions enacted after the Ukrainian conflict erupted. Russia is now the largest oil supplier of India, with the country taking advantage of the discounted Russian crude. Russia and
United States Senator Elizabeth Warren blamed the Bitcoin (BTC) mining industry for rising energy prices in American households based on unverified mainstream reporting. However, Crypto Twitter was not ready to let it slide and unanimously decided to clarify the disinformation. While Senator Warren has prominently spoken against the crypto ecosystem, the latest dig at Bitcoin
A court in Singapore has extended creditor protection for Babel Finance by another three months, Bloomberg reported on April 18. According to Babel co-founder and former CEO Flex Yang, the moratorium will now last until July 21, enabling the firm to pursue its restructuring plan via a new decentralized finance (DeFi) project known as Hope.
Chinese commodities rallied but equities failed to hold on to early gains after China reported better than expected growth in the first quarter alongside mixed readings elsewhere in the economy. China’s gross domestic product grew 4.5 per cent year on year in the first quarter, coming in well above analysts’ expectations of a 4 per
China’s first-quarter gross domestic product data showed an economy rebounding following one of its worst years for growth in decades after the country’s largest cities were locked down to stem a coronavirus outbreak and a global slowdown hit demand for exports. But while the figures indicated China was on track to meet or exceed its
Pressures in the UK labour market are starting to ease, but wage growth has not slowed as much as economists expected, according to official data released on Tuesday. Figures from the Office for National Statistics showed average wages in the private sector, excluding bonuses, were 6.9 per cent higher in the three months to February
A four-year-old video of United States Securities an Exchange Commission (SEC) chair Gary Genser giving praise to smart contract platform Algorand (ALGO) is circulating on Twitter following the SEC declaring ALGO is an unregistered security. In the video, Gensler referred to Algorand as a “great technology” while he was contemplating whether a “high performance” smart
TBD and the Africa-focused cryptocurrency exchange platform Yellow Card recently partnered to launch a fiat on and off-ramp that enables payments in some 16 African countries through Bitcoin rails. The objective of this arrangement is to make cross-border payments not only more affordable and accessible, but compliant as well. Hedging Against Inflation With BTC TBD,
The ETHGlobal Tokyo hackathon drew to a close on Sunday, as builders from around the world competed for $375,000 in prizes. The event was kicked off with the first-ever ETHGlobal “Pragma” summit, sponsored by Verse, among others. Engineers and representatives from Bitcoin.com also took part in the summit and hackathon, and shared their thoughts on
When the word “migrant” hits the headlines, it is often accompanied by the word “crisis”. But another story about migration is playing out, too — one in which countries are increasingly vying with one another to draw skilled workers to their shores. There has always been a global competition to lure the top scientists, computer
The barns and milking sheds of Takis Kazanas’s farm are dwarfed by the majestic mountains that overlook the Thessalian Plain. Cattle have been raised on this green expanse of land in northern Greece for millennia, but now regulators in Brussels are discussing rules that will lead to farms like his being treated as industrial plants,