In this week’s newsletter, check out Glassnode data that shows nonfungible token (NFT) protocol Bitcoin Ordinals may not be clogging the network. Read about British politicians using the metaverse to discuss opportunities and challenges in Web3, and find out why Rolling Stone says NFTs are “finally totally worthless.” And don’t forget this week’s Nifty News,
On Sept. 20, the Federal Reserve delivered a message that reverberated through financial markets: interest rates are expected to remain at their highest level in over two decades, and possibly for longer than most market participants’ expectations. This attitude comes against the backdrop of stubbornly high inflation, with the core inflation rate hovering at 4.2%,
Receive free Meta Platforms updates We’ll send you a myFT Daily Digest email rounding up the latest Meta Platforms news every morning. Meta is launching artificial intelligence-driven persona chatbots across Instagram, Facebook and WhatsApp and giving developers the power to create their own versions of AI assistants, as the US tech giant seeks to drive
IBM Quantum and Microsoft have formed a coalition to tackle post-quantum cryptography alongside not-for-profit research tank MITRE, U.K.-based cryptography firm PQShield, Google sibling company SandboxAQ, and the University of Waterloo. We’re proud to be a part of a new community of cybersecurity organizations to accelerate adoption of post-quantum cryptography in commercial & open-source technologies. Learn
Banks are facing mounting uncertainty as the commercial real estate (CRE) sector continues to struggle. But, tailwinds in our financial names should help safeguard their bottom lines. Club names Wells Fargo (WFC) and Morgan Stanley (MS) have bright spots in their operations that can offset potential weakness from CRE exposure. We’re optimistic about green shoots
Leaders in public finance are concerned over the speed and scope of rulemaking happening at the Securities and Exchange Commission. The SEC is currently working on new rules governing the proposed “consolidated audit trail,” that would track transactions tighter, crypto crackdowns, and climate risk disclosures – a major part of the wider discussion about environmental, social
Billions of dollars in tax incentives are under scrutiny in Georgia this legislative offseason. In the three months since the state legislature adjourned for 2023, the General Assembly’s Joint Tax Credit Review Panel has met three times in the city of Rome to evaluate the effectiveness of wide-ranging tax incentives that have helped fuel the
The U.S. state of Texas accounts for over 28% of all Bitcoin (BTC) hashing power in the United States, according to the latest Hashrate Map by crypto mining service provider Foundry USA. The newly updated map shows Texas with 28.5% of all Bitcoin hash rate in the country, followed by the states of Georgia claiming
Bitcoin (BTC) managed to stay above the $26,000 level even as the S&P 500 tumbled to a three-month low and the US dollar index (DXY) rose to a new year-to-date high. This is a mildly positive sign as it shows a lack of aggressive selling at lower levels. Bitcoin remains stuck inside a range and
A court decision on Monday cleared the way for the Oklahoma Turnpike Authority to head to the municipal market with $500 million of bonds to start financing a controversial expansion program. The Oklahoma Supreme Court, which validated the bonds Aug. 1 in a 6-3 decision, denied a petition for a rehearing requested by property owners
Pavlo Gonchar | Lightrocket | Getty Images Check out the companies making headlines in midday trading. Media stocks — A handful of media and studio stocks rose Wednesday after the nearly 150-day writer strike ended. Shares of Warner Bros. Discovery and Paramount Global jumped more than 2.5%, while Comcast added 0.9%. Disney hovered near the
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, September 26, 2023. Brendan McDermid | Reuters A majority of Wall Street investors didn’t take solace in stocks’ 2023 gains, thinking the market could retreat further as risk for a recession creeps up, according to the new CNBC Delivering Alpha investor
Receive free Outlook updates We’ll send you a myFT Daily Digest email rounding up the latest Outlook news every morning. What do emails smell like? My visit to a new exhibition at London’s Design Museum suggests they give off a woody scent with a strong hint of juniper. Or perhaps, as Christian Widlic, the force
Receive free Markets updates We’ll send you a myFT Daily Digest email rounding up the latest Markets news every morning. Oil prices surged nearly 3 per cent to a fresh 10-month high on Wednesday, approaching $100 a barrel, as lower than expected US stockpiles added to concerns over the impact of tighter global supplies of
Receive free GB News updates We’ll send you a myFT Daily Digest email rounding up the latest GB News news every morning. GB News, the broadcaster backed by hedge fund boss Paul Marshall, has suspended Dan Wootton, one of its most popular hosts, after airing sexist comments made by actor Laurence Fox about a female
Cryptocurrency exchange Binance has claimed that it will fully quit Russia by selling its local business to a completely new exchange known as CommEx. While promising its customers a “smooth” migration, Binance hasn’t provided much information about its successor in Russia. At the time of the announcement, little is known about CommEx’s founders or background. The
In this article CHPT COST RIVN XPO Follow your favorite stocksCREATE FREE ACCOUNT The Levi Strauss & Co. label is seen on jeans in a store at the Woodbury Common Premium Outlets in Central Valley, New York, U.S., February 15, 2022. Andrew Kelly | Reuters Check out the companies making headlines in premarket trading. Sirius
SEC Chair Gary Gensler participates in a meeting of the Financial Stability Oversight Council at the U.S. Treasury in Washington, D.C., July 28, 2023. Kevin Dietsch | etty Images Securities and Exchange Commission Chair Gary Gensler is testifying before the House Financial Services Committee today. It will be very much like his testimony two weeks ago
It’s been more than a decade since 850,000 BTC went missing from Mt. Gox, yet the collapse of the former exchange remains one of the most infamous black swan events of the cryptocurrency ecosystem. While creditors of the defunct exchange are edging closer to some form of restitution, Mt. Gox’s demise ended up playing an
S&P Global Ratings raised New York’s Hudson Yards Infrastructure Corp.’s long-term and underlying ratings on outstanding revenue bonds to AA from AA-minus. The outlook is stable, S&P said, in line with that of New York City. “The upgrade reflects progress and ongoing development at Hudson Yards that has led to increased payments in lieu of
Moody’s Investors Service downgraded the Pittsburgh, Pennsylvania, School District’s issuer and general obligation limited tax bond ratings to A1 from Aa3. The outlook has been revised to stable from negative. At the same time, Moody’s assigned an A1 rating to the school district’s proposed sale of $35.5 million of Series 2023 GOs. Proceeds from the