Donald Trump is planning to gut US President Joe Biden’s landmark climate law, increase investment in fossil fuels and roll back regulations aimed at accelerating the transition to electric vehicles if he is elected next year. Senior campaign officials and advisers to the former president said he would seek to radically overhaul US climate and
Binance’s $4.3 billion settlement with the United States was the final hurdle before the country’s securities regulator approves spot Bitcoin exchange-traded funds (ETFs), many industry watchers claim. The settlement involved Binance agreeing to Justice Department and Treasury compliance monitors for up to five years, allowing the agencies sweeping powers to keep the exchange in line
The director of Netflix’s sci-fi series Conquest reportedly used $4 million from the show’s budget to bet on Dogecoin (DOGE) and made $27 million in the process. Now the director, Carl Erik Rinsch, wants another $14 million from Netflix, according to a Nov. 22 report in The New York Times citing a confidential arbitration proceeding.
FTX founder and convicted fraudster Sam Bankman-Fried will stay jailed after failing to convince a United States appellate court that he should be freed while his legal team appeals his conviction. In a Nov. 21 mandate, the U.S. Court of Appeals for the Second Circuit said Bankman-Fried’s previous attempts to tamper with two witnesses while
Dutch far-right leader Geert Wilders is on course to win the most votes in parliamentary elections on Wednesday that were dominated by debate about rising immigration in the Netherlands, according to an exit poll. Wilders’ Freedom party is projected to win 35 seats, doubling its total, followed by a left-wing alliance led by the EU’s
As the year winds down, every gaming company and its dog are dropping year-in-review reports. A recent report from blockchain gaming accelerator Game7 suggests that many game developers had an enforced nap instead of pumping out new games. This year, just 223 Web3 games were launched which is a 65% drop from the 640 games
In this week’s newsletter, read about the creator of a Mutant Ape Yacht Club (MAYC) knock-off pleading guilty to fraud charges, check out how OpenSea’s non-fungible token (NFT) users received a massive phishing email campaign, and how Bitcoin transaction fees flipped Ethereum network fees as the hype for Ordinals resurfaced. In other news, game distributor
A firm tone and hearty appetite from investors was evident Wednesday as the municipal market prepared for a shortened week due to the Thanksgiving holiday. U.S. Treasuries were mixed and equities were better. The two-year muni-to-Treasury ratio Wednesday was at 63%, the three-year at 64%, the five-year at 65%, the 10-year at 67% and the
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Dutch far-right leader Geert Wilders is on course to win the most votes in parliamentary elections on Wednesday that were dominated by debate around rising immigration in the Netherlands. Wilders’ Freedom party is projected to
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Buoyed by improved borrowing forecasts, chancellor Jeremy Hunt on Wednesday chose to use his extra fiscal wriggle-room to court businesses and voters with tax cuts. The political appeal of the strategy was obvious, given the
The cryptocurrency market recently experienced events that were previously expected to present a severe negative price impact, and yet, Bitcoin (BTC) trades near $37,000 on Nov. 22, which is essentially flat from three days prior. Such performance was utterly unexpected given the relevance of Binance’s plea deal on Nov. 21 with the United States Authorities
A bankruptcy court recently ruled for the most part in favor of Chester, Pennsylvania, bondholders in an adversary proceeding filed by the city challenging liens on revenues for bonds issued in 2017 as part of a financial recovery plan for the city. Chester, which filed for bankruptcy in November 2022, has faced decades of financial
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Jeremy Hunt has been chancellor for a little over a year. He is not at fault for the overall record of the Conservatives in government: after all, he is the seventh chancellor in the past
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Enjoy this “down payment” on the Conservatives’ careful stewardship of the economy. There won’t be many more. There’s still the spring Budget to come, but chancellor Jeremy Hunt’s generosity was that of a man who
Just two months ago, Jeremy Hunt warned tax cuts were “virtually impossible”. On Wednesday the UK chancellor made a dramatic political pivot as he unveiled £20bn of tax cuts in the Autumn Statement. Downing Street strategists had originally planned that the Autumn Statement would be a workmanlike, “growth-focused” event, setting up a tax giveaway in
Representatives from BlackRock and the Nasdaq met with the United States Securities and Exchange Commission to discuss the proposed rule allowing the listing of a spot Bitcoin (BTC) exchange-traded fund, or ETF. According to a Nov. 20 SEC memo, BlackRock provided a presentation detailing how the firm could use an in-kind or in-cash redemption model
Traders hate uncertainty; hence, the settlement between Binance, Changpeng “CZ” Zhao and the United States Department of Justice is likely to be viewed as a positive for the cryptocurrency space. Analysts largely remained positive on the deal, but a few sounded cautious due to the Securities and Exchange Commission’s pending lawsuit against Binance. Bitcoin (BTC)
Former Sterlington, Louisiana, Mayor Vern Breland has, without admitting or denying the findings, agreed to pay a $35,000 civil penalty in addition to a permanent bar from future municipal securities offerings following his role in providing false projections to the Louisiana State Bond Commission in connection with two offerings worth $5.8 million, the Securities and
An Oklahoma law prohibiting state and local government contracts with companies that “boycott” the fossil fuel industry is the target of a lawsuit, claiming the measure prevents public employee pension funds from performing their constitutional duty to operate for the exclusive benefit of their beneficiaries. The case filed in Oklahoma County District Court this week
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Jeremy Hunt sought to present an optimistic vision of UK growth as he announced various measures to “turbo-charge” the economy, but forecasts were cut sharply on Wednesday amid high inflation and interest rates. The chancellor
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. UK chancellor Jeremy Hunt has cut national insurance by 2 percentage points and made business investment tax relief permanent, as he put a £20bn tax giveaway at the heart of his Autumn Statement. Hunt claimed