A company is petitioning former Ripple chief technology officer Stefan Thomas for a hard drive containing more than 7,000 Bitcoin (BTC) that he has been unable to access for years. In an Oct. 25 open letter, crypto recovery firm Unciphered offered to unlock an IronKey hard drive belonging to Thomas containing 7,002 BTC — roughly
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Turmoil in government bond markets has forced US companies to delay borrowing plans, making this the slowest October for debt issuance in more than a decade. US firms have raised just under $70bn from sales
Volatility continues as municipals were slightly weaker in spots Wednesday but outperformed U.S. Treasuries, which saw the greatest losses out long. Equities ended down. Munis were cut up to three basis points, depending on the scale, while UST yields rose up to as much as 14 basis points in 30 years. The two-year muni-to-Treasury ratio
Wallets linked to bankrupt crypto firms Alameda Research and FTX transferred over $10 million worth of cryptocurrency to exchange deposit accounts in five hours on October 24-25, according to data from blockchain analytics platform Spot On Chain. The movement of these funds may indicate that the firms plan to sell some assets to pay back
Benjamin Netanyahu said Israel was “preparing a ground invasion” of the Gaza Strip, in one of the clearest statements yet that his government is planning to enter the Palestinian enclave in its war to topple Hamas. In an address to the nation on Wednesday evening the Israeli leader vowed to fight the militant group “above
Bitcoin’s (BTC) price action is the talk of the town this week and based on the current sentiment expressed by market participants on social media, one could almost assume that the long-awaited bull market has started. As Bitcoin’s price rallied by 16.1% between Oct. 22 and Oct. 24, bearish traders using futures contracts found themselves
A collection of bondholders and insurers of Puerto Rico Electric Power Authority debt are banding together in their opposition to the bankrupt utility’s proposal to slash its debt by 75%. GoldenTree Asset Management, Syncora Guarantee, Assured Guaranty and certain members of an ad hoc group of the power utility’s bondholders — which includes Invesco Advisers
Chattanooga, Tennessee’s public power utility board voted to approve the issuance of $125 million of new electric utility revenue bonds for improvements and new construction on local power networks. EPB of Chattanooga is the brand of the city’s Electric Power Board. The utility provides electric and telecommunications services over a 600 square mile service area
In this article RDFN Follow your favorite stocksCREATE FREE ACCOUNT Thomas Barwick / Getty As home prices and interest rates rise, would-be home buyers need a salary of $114,627 to afford a median-priced house in the U.S., according to a recent report by real estate site Redfin. If you want to buy in one of the most
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The UK Information Commissioner’s Office has found that former NatWest chief executive Alison Rose twice breached data protection laws when she spoke to a journalist about the closure of Nigel Farage’s bank account. In a
A deal that emerged in federal bankruptcy court Tuesday to purchase an Arizona participant sports venue for $25.5 million would allocate just $2.2 million plus an 11% equity stake in the acquiring company to bondholders, who possess $284 million of the facility’s debt, according to a source familiar with the proposal. Burke Operating Partners would
Longtime muni market veteran Steve Winterstein’s strong interest in technology has been a constant in the direction of his 30-year career. “I’ve always been deeply interested in technology, and how to make workflows a lot more efficient and effective,” Winterstein said. After decades in the business and working with other firms focusing on tech, most
Municipal interest rates will climb higher by yearend, market volatility will be the biggest challenge facing the industry heading into 2024 and issuance is likely to remain stagnant next year. That’s according to respondents to The Bond Buyer’s Live Market Survey at the California Public Finance conference last week. The survey, sponsored by Fitch Ratings,
Bitcoin (BTC) easily soared above the $31,000 to $32,400 resistance zone on Oct. 23, which came as a suprise to many market participants. Usually, the price tends to consolidate or hesitate near stiff overhead resistance levels but that was not the case this time around. Market participants are bullish as they anticipate a Bitcoin spot
The New York Metropolitan Transportation Authority has pulled off a hat trick with the rating agencies as it scored even more good news about its transportation revenue bonds. Fitch Ratings upgraded the MTA’s TRBs to A from A-minus and assigned a stable outlook to the bonds. A rider makes his way to the Wall Street subway
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Mike Johnson, a loyal ally of Donald Trump, has been elected Speaker of the House of Representatives, ending weeks of congressional paralysis and signalling a sharp tack to the right for Republicans in the lower
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Like shoppers, investors are often prone to the so-called left-digit bias — the tendency to place more emphasis on the leftmost digit of a price. Indeed, when the 10-year US Treasury bond yield — a
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Billionaire hedge fund manager Bill Ackman made a profit of about $200mn from his high-profile bet against US 30-year Treasury bonds, according to people familiar with the trade. The founder of Pershing Square Capital Management
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Muslim Labour MPs demanded that the party leadership back calls for a ceasefire in Gaza in “robust” talks with Sir Keir Starmer on Wednesday. The Labour leader and his deputy, Angela Rayner, met more than
Polygon Labs has launched the Ethereum contract for the new Polygon token, POL, according to an October 25 announcement. The new token is intended to replace the ecosystem’s current token, MATIC. However, the team said users presently don’t need to exchange their MATIC for POL. The POL token upgrade is now live on Ethereum mainnet.
As one of many actions to reach a net zero energy economy by 2050, the U.S. is finding ways to minimize the impact of existing housing, which is difficult because as a subset of the country’s overall decarbonization efforts, residential buildings have one of the most diverse existing landscapes. Variety is the spice of life,