Andrew Griffith, City of London minister, has raised concerns that flagship reforms to stop consumers being ripped off by financial services companies could damage the sector and trigger a wave of spurious law suits, putting him on a collision course with the UK’s chief financial regulator. Griffith has criticised the consumer duty, a key measure
Crypto exchange Coinbase has been named as a defendant in a legal complaint brought by NanoLabs — the company behind the digital currency Nano (NANO) — over alleged trademark infringement. In the Feb. 24 filing with the California Northern District Court, NanoLabs alleged Coinbase’s Nano Bitcoin futures contract and Nano Ether futures contract products infringe
U.S. Treasury Secretary Janet Yellen says “it is critical to put in place a strong regulatory framework” for crypto on the sidelines of the G20 meeting for finance ministers and central bank governors. “We haven’t suggested outright banning of crypto activities,” Yellen added. Janet Yellen on ‘Strong’ Crypto Regulation U.S. Treasury Secretary Janet Yellen talked
Ukraine has received over $70 million in cryptocurrencies since the start of the Russian-Ukrainian conflict, providing the nation with funds for military equipment and humanitarian assistance. The figures came from a Feb. 24 report by blockchain data platform Chainalysis, which found the majority of the funds to have come in the form of Ether (ETH) and
The UK economic outlook for this year has improved, with analysts forecasting a smaller contraction in output than they had previously because of falling energy prices and better than anticipated business and consumer sentiment. In December and January, economists expected gross domestic product to drop 1 per cent this year, according to data from Consensus
Billionaire Jeffrey Gundlach, aka the “Bond King,” has warned of “painful outcomes that are coming in the next recession.” Commenting on the Federal Reserve’s attempt to curb inflation, he cautioned: “The more you try to reduce the severity of problems, you’re going to end up ultimately having a very high severity problem.” ‘Bond King’ Jeffrey
If you are reading this in the northern hemisphere — and subscribe to meteorological definition of the seasons — the good news is that we are rapidly heading into spring. And like the promise of warmer and longer days (not to mention daffodils for St David’s Day on Wednesday), there is some reason for cheer
Rishi Sunak is poised to unveil a Brexit deal with the EU on Monday that will overhaul Northern Ireland’s trading arrangements and end a bitter dispute between the two sides. Although the UK prime minister plans to seal an agreement with Brussels, he still faces a political battle to win over Eurosceptic Conservative MPs and
The cryptocurrency markets and the United States equities markets witnessed profit-booking this week as the macroeconomic data hinted toward continued rate hikes by the Federal Reserve. Bitcoin (BTC) is down more than 4% and the S&P 500 fell 2.7% to record its worst week of the year. The CME FedWatch Tool shows a 73% probability
The two sides in the bitter conflict in Ukraine have been relying on crypto assets and technology to support their military and humanitarian activities, Elliptic says in a report. According to the blockchain forensics company, the targeted nation has attracted more digital asset donations than the invading power. Ukraine Supporters Sent Over $212 Million in
The chief executive of Deutsche Telekom has called obtaining a stake in BT the “biggest mistake” he ever made, saying: “I want my money back.” Tim Höttges told the Financial Times that he regretted a 2015 deal that saw the German group take a £5.6bn stake in its British counterpart, which has since lost almost
While several market strategists and analysts expect U.S. inflation to drop considerably in 2023 compared with last year, Michael Wilkerson, founder of Stormwall Advisors, thinks the inflation rate could climb as high as 12% by the end of this year. The country’s inflation rate has cooled down over the past seven months, but Wilkerson insists
The house building industry has warned that the number of new properties completed each year in England could slump to its lowest level since the second world war due to a “perfect storm” of government policies and higher mortgage rates. The Home Builders Federation estimates that changes by ministers to England’s planning framework and the
Indonesia is seeking assurances from the UK that it will secure a share of any future financial settlement stemming from a British corruption investigation into aircraft maker Bombardier after Jakarta was left out of a deal reached with Airbus three years ago. Cahyo Muzhar, director-general of legal administrative affairs at Indonesia’s ministry of law and
A senior Republican legislator said that China was considering sending 100 drones and other lethal weapons to Russia, as US officials warn that Beijing may escalate its support for Moscow in the Ukraine conflict. Michael McCaul, the top Republican on the House foreign affairs committee, said the US was increasingly concerned about Beijing’s willingness to
Bitcoin (BTC) sought to end the week above $23,000 into the Feb. 26 close as concerns heightened over stubborn resistance. BTC price bulls keep faith in $30,000 Data from Cointelegraph Markets Pro and TradingView showed BTC/USD reaching $23,318 on the day, up $600 from its weekend lows. The latest move marked a modest comeback after
Five years after being listed for sale the 100-square mile estate belonging to the late T. Boone Pickens has sold for about $60 million less than its original asking price of $250 million. Pickens, whose estate Forbes’ estimates to be valued at $1.3 billion, died in 2019 at the age of 91. His property was
On Saturday, the liquid staking protocol Lido tweeted about the largest daily stake inflow to date as 150,000 ethereum was staked. Reports indicate that the ethereum, worth more than $240 million, belongs to Justin Sun, founder of Tron. Liquid Staking Protocol Lido Records 150,000 Ether Inflow Lido, the liquid staking platform with the highest amount
Indian business tycoon Prateek Gupta offered to pay Trafigura $15mn using financing from a Mauritian bank under scrutiny for its ties to the accused fraudster, according to court documents obtained by the Financial Times. Trafigura, the world’s largest private metals trader, this month secured a $625mn freezing order against Gupta and his business empire in
2022 was a year of phenomenal cryptocurrency blowouts, as several projects collapsed and many more are on life support after the entire ecosystem was shattered. The fallout from these digital currency projects has not only removed billions of dollars in value from the crypto economy, but also eroded trust. The following is a look at
China Renaissance said its missing founder Bao Fan was “co-operating in an investigation” with Chinese authorities, more than a week after the investment bank disclosed it had been unable to contact him. In a terse stock exchange filing late on Sunday in Hong Kong, the company said its board had “become aware that Mr Bao