And poof, it’s gone! First Republic Bank’s magical disappearing trick wowed us all on Monday. Other US regional lenders seem to be practising the same. My European bank ETF better not vanish in a puff of smoke. I won’t clap. Time to take profits, then? Answering this requires number crunching. And some thought. Which would
press release PRESS RELEASE. As Bitcoin becomes an increasingly popular payment option, we can now use BTC for quick ordering and online shopping in many countries/regions. You can even buy a car with BTC in some places. None of this would be possible without Laszlo Hanyecz, a Bitcoin pioneer who bought two pizzas with 10,000
Stronghold Digital, a leading Bitcoin mining firm, announced the company has entered into a two-year hosting agreement with Cantaloupe Digital LLC, a subsidiary of the bitcoin application-specific integrated circuit (ASIC) manufacturer, Canaan. Under the new partnership, Stronghold Digital plans to activate 2,000 Avalon A1346 miners and 2,000 A1246 models. This will result in a total
HSBC’s shareholders voted against a proposal backed by its biggest investor Ping An to split up the sprawling global lender, in a victory for chair Mark Tucker at the bank’s annual meeting on Friday. Two special resolutions demanding that the bank regularly reviews separating and listing its Asia operations and restarts a guaranteed dividend were
A confrontation broke out in Los Angeles this week as 11,500 writers for film and television went on strike. Screenwriters know all about confrontations: they are the second acts of three-act dramas, when the main characters face a crisis that only gets resolved at the end. “You put them in the worst possible position they
On a crisp, sunny morning late last month, a lone black official Škoda draws up at a family wine farm in southern Moldova. This sliver of land was one of the great wine-producing regions of the Soviet Union and it aspires to play the same role for Europe today. It is a stunning setting of
European stocks and Wall Street futures rose on Friday, while US regional banks clawed back some of their recent losses in pre-market trade, as investors looked ahead to the publication of US jobs data for evidence of the health of the American economy. The region-wide Stoxx Europe 600 added 0.3 per cent in morning trade
Bitcoin transaction fees surged in early May, reaching their highest point over the past two years, according to data from Crypto Fees. On May 3, the total amount of fees paid on the Bitcoin blockchain reached $3.5 million, jumping about 400% from late April. The average Bitcoin transaction fee reached as much as $7.2, according
Bitcoin (BTC) eyed a reclaim of further lost ground on May 5 as $30,000 remained in play. BTC price action rebounds from stocks slump Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it spiked to $29,529 on Bitstamp – a new May high. The pair had dipped with United States equities at the
The Nigerian Federal government said on May 3 it had passed what it called the “national blockchain policy.” The Nigerian minister of communications and digital economy, Isa Pantami, said the new policy is a product of consultations with 56 institutions and personalities. Lucky Uwakwe, the founder of the technology service delivery company Sabi Group, said
Good morning. The people have spoken, but what they’ve said isn’t yet entirely clear. Most votes in the local elections are still being counted and we still only have a partial picture. What we can say is that it has been a very bad night for the Conservative party. What’s less clear is what it
Anyone who has dealt with trading in traditional finance is likely to be aware of profit and loss (PnL). But is PnL in the cryptocurrency world the same? The ability to comprehend terms like mark-to-market (MTM), realized PnL and unrealized PnL will help develop a better understanding of the cryptocurrency a person holds. Without a
Argentine Foreign Minister Santiago Cafiero referred to the advantages the issuance of a Latin American common currency would give Argentina. Cafiero stated that the existence of such a currency would relieve the stress that the country is currently facing regarding the state of its foreign reserves and the devaluation of its fiat currency. Argentine Foreign
Brazilian President Luiz Inacio Lula da Silva stated Brazil will serve as a facilitator to try and arrange BRICS bloc assistance for Argentina. Lula stated that the New Development Bank — the BRICS bank — could modify some of its rules to aid Argentina. Also, the two countries are negotiating the establishment of a credit
Fintech firm Block, owned by Twitter founder Jack Dorsey, has reported a staggering $2.16 billion in Bitcoin (BTC) revenue on its bellwether product Cash App in Q1. According to a shareholder letter announcing its Q1 2023 earnings, Block (NYSE:SQ) reported that its Bitcoin revenue — which counts BTC revenue as total sales of the cryptocurrency
A flood of gilt sales is driving up the UK government’s borrowing costs, investors say, as markets are asked to absorb record volumes of bonds without the Bank of England stepping in to hoover up supply. Bond yields in most large economies have shot up over the past 18 months as soaring inflation drove a
Remember the rise of the right? First Brexit, then Trump, then a wave of rightwing populism broke over Europe. There were dozens of news articles on the “rising tide of anti-immigrant sentiment”. Except it turns out that in the west, 2016 was a high water mark for such views. This is true of almost all
The soaring value of family homes means that many pensioners are living inside a potential tax liability. The number of people in the UK paying inheritance tax jumped by 24 per cent in the past year, with 41,000 estates caught in the IHT net — nearly double the number three years ago. Should this trouble
One evening in late December last year, I received a cryptic phone call from a PR director at TikTok, the popular social media app. I’d written extensively about the company for the Financial Times, so we’d spoken before. But it was puzzling to hear from her just before the holidays, especially since I wasn’t working
The UK’s opposition Labour and Liberal Democrat parties expressed optimism early on Friday that they were making significant gains as votes began to be counted after local elections in many parts of England. Both parties argued that their performances positioned them well for the forthcoming nationwide general election. Labour’s shadow health secretary, Wes Streeting, told
The European Central Bank (ECB) raised its key interest rates by 25 basis points, slowing the pace from previous increases. However, as inflation in the euro area remains persistently high, future rate hikes may still be expected with the regulator insisting it will continue to seek a “timely return” to its 2% inflation target and