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
An EV600 all-electric light commercial vehicle purpose-built for the delivery of goods and services, built by GM’s electric commercial vehicle business, BrightDrop, is seen in Detroit, Michigan, in this undated photograph. Brightdrop | Handout | via Reuters Layoff announcements and warnings of an economic downturn from multiple CEOs during the earnings season have made it
Over $2.5 billion was stolen in cross-chain crypto bridge hacks from 2021 to 2022, according to a report by Token Terminal. But, despite several attempts by developers to improve bridge security, a debate from December 2022 to January 2023 on the Uniswap DAO forums has laid bare security weaknesses that continue to exist in blockchain bridges.
President Joe Biden’s speech in Warsaw was thickly coated in the kind of idealistic rhetoric many western Europeans discreetly roll their eyes at. Of Vladimir Putin, he said: “He thought autocrats like himself were tough and leaders of democracies were soft . . . And then, he met the iron will of America and the nations everywhere that refused
In spite of turbulence in traditional global finance, with BRICS nations said to be pushing for de-dollarization and major banks like Bank of America and Goldman Sachs predicting further interest rate hikes from the U.S. Federal Reserve, creativity in crypto has found a new boon in the form of controversial inscriptions, called Ordinals, on the
A renovated apartment in New York City after The Expert consultation sessions with designers Jessica Gersten and Athena Calderone. The Expert Aside from bingeing Netflix, creating the picture-perfect home may have been the pandemic’s most popular habit. Whether it’s organizing a pantry or adding on a home office, gym or spa-like bathroom, homeowners have been
In a move seen as a major setback for South Africa, the international financial watchdog, the Financial Action Task Force, announced on Feb. 24 that it had added the country to its “grey list.” Getting grey-listed by the financial watchdog potentially makes it difficult for South Africa to obtain loans from foreign banks. A Setback
The UK is on the “cusp” of a Brexit deal with the EU to overhaul Northern Ireland’s trading arrangements, Britain’s deputy prime minister Dominic Raab said on Sunday. The two sides are close to resolving the bitter dispute arising since the UK left the EU single market and customs union in 2021 by agreeing changes
LinkedIn has been hit by a rise in sophisticated recruitment scams, as fraudsters seek to take advantage of the trend towards remote working and widespread lay-offs across the tech sector. Jobseekers on the world’s largest professional network are being defrauded out of money after taking part in fake recruitment processes set up by scammers who
Gautam Adani’s business empire has had more than $145bn wiped from its value in the month since a US short seller alleged fraud, laying bare the battle the Indian tycoon still faces in regaining the confidence of investors. The sell-off triggered by Hindenburg Research, which accused Adani of stock manipulation and accounting fraud, has erased
A home along a canal comes with certain advantages, particularly when that waterfront is in an upscale community such as Vero Beach, Florida. From a privacy standpoint there are no neighbors sharing a backyard border. Instead, a tranquil waterway acts as a natural buffer. From an investment angle, homes on the water are always in
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The draft law legalizing cryptocurrency mining will be resubmitted to Russian parliament which will postpone its adoption, one of its sponsors announced. Members of the lower house are also working on a separate bill that will introduce liability for those who mint digital coins illegally. Adoption of Russian Crypto Mining Legislation Postponed Again A bill
For more than a decade following the financial crisis, UK banks endured a painful wait for interest rates to rise, counting down the days until they could finally start to make money from their customers’ deposits. Surging inflation granted their wish. Since late 2021, and as the Bank of England pushed up the base rate
Activist investor Jeff Ubben is joining an independent, external group of experts that advises Bayer’s management on sustainability, as the German industrial group tries to embrace its high-profile shareholder. But the gesture may fail to satisfy Ubben, who wants the group to use sustainability to drive returns, as the position is informal and far less
For years, Austria’s Raiffeisen Bank vaunted its staying power in Russia as western rivals came and went. “Russia,” Raiffeisen’s former chief executive Herbert Stepic liked to say, “separates the wheat from the chaff”. Now, the situation is reversed. One year into Russia’s bloody invasion of Ukraine, as western companies flee the country, fearful of the
Several of the world’s biggest pharmaceutical companies are fighting shareholder proposals to force them to disclose information on their use of a controversial patent strategy that can delay rivals from launching cheaper versions of blockbuster drugs. A coalition of ethical investors have asked Johnson & Johnson, Merck, Pfizer, Eli Lilly, Gilead, Amgen, Regeneron, Bristol Myers
As Shanghai re-emerges from a Covid-19 outbreak and three years of restrictions that hampered travel and trade, the financial hub is doing so without much evidence of what made it China’s most cosmopolitan city: foreign visitors. Before the pandemic, its iconic Bund was usually thronged with foreign travellers and business delegations. But on a recent