USDC stablecoin issuer Circle has denied claims of illicit financing and ties to Tron founder Justin Sun, according to an open letter accessed from Circle’s blog on Nov. 30. A non-profit watchdog group previously accused Circle of having ties to Sun. Circle open letter to U.S. senators Elizabeth Warren and Sherrod Brown. Source: Circle. The
Municipals were firmer to close out the month, outperforming U.S. Treasury market losses Thursday, while the California Community Choice Financing Authority jumped into the primary with $1 billion-plus of clean energy revenue bonds, joining other issuers that moved up deals to take advantage of the strong market conditions. Municipals are poised to return well over
Cathie Wood, CEO of Ark Invest, speaks during an interview on CNBC on the floor of the New York Stock Exchange on Feb. 27, 2023. Brendan McDermid | Reuters Cathie Wood is about to notch her best month ever as her holdings of innovative technology stocks roared back from steep losses in the midst of
The judge in the Puerto Rico Electric Power Authority bankruptcy rejected five bondholder arguments Tuesday, bringing approval of the Oversight Board’s plan of adjustment closer. U.S. District Judge Laura Taylor Swain granted the Oversight Board’s motion to dismiss the bond parties’ — bond trustee U.S. Bank N.A., Assured Guaranty, Syncora Guarantee and the now defunct
Concerns about the financial health of the nation’s public pension funds are moving many of them to invest increasingly in alternative assets that include risky real estate ventures, private debt, hedge funds and private equity. “We have a target of approximately 30% of the portfolio to alternative asset classes,” said Shoaib Khan, director, chief investment
Former U.S. President Donald Trump looks on, as the trial of himself, his adult sons, the Trump Organization and others in a civil fraud case brought by state Attorney General Letitia James continues, in New York City, U.S., October 3, 2023. Eduardo Munoz | Reuters A New York appeals court Thursday reinstated a gag order
IOTA, an open-source distributed ledger and cryptocurrency focused on the Internet of Things (IOT), saw its native IOTA token rally 43% on Nov. 29 after announcing the creation of the Iota Ecosystem DLT Foundation and its registration in Abu Dhabi, the capital of the United Arab Emirates. This makes IOTA the first DLT foundation to
November issuance was up year-over-year for the third consecutive month as a muni market rally led to an acceleration and upsizing of deals. November’s total volume rose 7.8% to $28.464 billion in 652 issues from $26.415 billion in 678 issues a year earlier. However, issuance for the month is lower than the $31.949 billion 10-year
Hamas released two more women held hostage in Gaza as the delicate exchange of Palestinian prisoners for Israeli hostages entered its sixth day, under the cover of a truce brokered by Qatar. Up to 10 Israelis were expected to be released from captivity on Thursday, as US secretary of state Antony Blinken met Israeli and
Clapped into the Treasury in June 2007, the new chancellor Alistair Darling was picked as a safe pair of hands, cast in the new Labour mould of managerial ministers. Darling’s old friend from Scottish politics, Gordon Brown, had been impressed by his smooth running of the transport department, keeping it off the front pages after
Nashville skyline at dusk. John Greim | LightRocket | Getty Images Over the past 30 years, Nashville, Tennessee — a city known for country music — has seen a flood of transplants moving from higher-cost cities. For new residents, “everybody has a different story,” said Jeff Hite, chief economic development officer of the Nashville Area
The suggested treatment of municipal securities as posted collateral in the Basel III endgame proposal has garnered mixed reactions from experts and market participants. While some argue that it could enhance liquidity and stability in the market, others express concerns about the potential risks and challenges associated with valuing and monitoring these securities. It is
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. A top US official said Washington was “profoundly concerned” about Turkey’s role in facilitating Hamas’s access to international finance, underscoring how the war in Gaza is fuelling rising tension between the Nato allies. Brian Nelson,
Less than two years after its inception in April 2022, the national Equity in Infrastructure Project reached 56 signers during a conference held in downtown Los Angeles last week. The project asks for pledges to double the number of contracting opportunities for historically underserved businesses on infrastructure projects that use federal funds. Pubic agencies and
The United States Securities and Exchange Commission (SEC) called on the public to comment on a proposed rule change that could allow asset management firm Fidelity to offer shares of its spot Ether exchange-traded fund, or ETF. In a Nov. 30 notice, the SEC said “interested persons” may comment on the Fidelity offering, proposing the
Business intelligence firm MicroStrategy purchased 16,130 Bitcoin (BTC) in November, bringing its total holdings to more than $6 billion. In a Nov. 30 announcement, MicroStrategy co-founder Michael Saylor said the company acquired the BTC for roughly $593.3 million — a price of $36,785 per Bitcoin. As of Nov. 29, MicroStrategy reported it held 174,530 BTC
We’re rolling out one genuine use case for AI and crypto each day this week — including reasons why you shouldn’t necessarily believe the hype. Today: How blockchain can fight the fakes. Generative AI is extremely good at generating fake photos, fake letters, fake bills, fake conversations — fake everything. Near co-founder Illia Polosukhin warns
Pending home sales, a measure of signed contracts on existing homes, dropped 1.5% in October from September. They hit the lowest level since the National Association of Realtors began tracking this metric in 2001, meaning it’s even worse than readings during the financial crisis more than a decade ago. Sales were down 8.5% from October
Detached houses on a large housing development on the western side of Nashville, Tennessee. Georgeclerk | Istock | Getty Images Nashville natives say they barely recognize the city’s skyline anymore. And they probably won’t anytime soon, as cranes still litter the picture. The Nashville building boom is in full effect, despite higher interest rates, higher
Twin Rivers Farm could break records as Tennessee’s priciest home if it fetches its $65 million asking price. The property is located just 30 miles southwest of Nashville in the suburb of Leipers Fork, known for attracting high-net-worth individuals and celebrities such as Justin Timberlake and Nicole Kidman. “It’s one of the most significant real
Bitcoin (BTC) brushed off fresh United States macro data into the Nov. 30 Wall Street open as traders focused on the monthly close. BTC/USD 1-hour chart. Source: TradingView PCE keeps Fed pivot pressure alive Data from Cointelegraph Markets Pro and TradingView showed BTC price movements sticking to a narrow intraday range below $38,000. After a