According to the Chinese journalist Colin Wu, otherwise known as “Wu Blockchain,” the cryptocurrency company Huobi may lay off 30% of the firm’s staff due to “a sharp drop in revenue.” Furthermore, the reporter claims that Huobi’s co-founder Leon Li is reportedly looking to sell a large stake in the digital assets company. Colin Wu
Month: July 2022
A new fund dedicated to advancing social equity and led by an NBA veteran and a leading municipal firm is moving into New York State’s growing cannabis industry. Social Equity Impact Ventures, LLC, a premier minority-led investment team, will sponsor and manage the New York Social Equity Cannabis Investment Fund. This first-of-its-kind $200 million fund will be
Hackers with suspected links to China’s intelligence agencies were still advertising for new recruits to work on cyber espionage, even after the FBI indicted the perpetrators in an effort to disrupt their activities. Hainan Tengyuan, a Chinese technology company, was actively recruiting English language translators in March according to job adverts seen by the Financial
Analysts expect climate change, combined with the political realities of either addressing the effects of it or not, will have increasing impacts on municipal credit in the coming years. Droughts, fires, flooding, changed temperature patterns, reduced snow cover, and higher sea levels may all come from climate change and all have the potential to impact
Crypto exchange KuCoin found itself at the center of discussion when a sub-community of Crypto Twitter started warning investors about an incoming ban on funds withdrawal. KuCoin CEO, Johnny Lyu, was however quick to dismiss the unvetted rumors before they picked up steam. Prominent crypto figures on Twitter, including trader @KongBTC and blockchain investigator @otteroooo,
Traders work on the floor of the New York Stock Exchange. NYSE Investors are greeting the third quarter with greater trepidation about a recession, and that makes next Friday’s June jobs report a potentially bigger catalyst for markets than it might otherwise have been. The jobs report and Wednesday’s release of minutes from the Federal
Bitcoin dropped 56.2% in the second quarter of 2022, according to crypto analytics platform Coinglass. That makes it Bitcoin’s worst quarter since the third quarter of 2011 when BTC price fell by 67%. A large part of the damage was done in the month of June when Bitcoin plunged 37%, the worst monthly drawdown since
Facing record-high year-over-year rates of inflation, the Fed has been trying to combat it with a series of rate hikes that many Americans haven’t seen in decades. Rising mortgage rates have certainly had an impact on housing markets in the United States, with the number of home sales nationally declining by 7.4%, from 636,507 home
A “For Sale” sign is seen outside a home in New York. Shannon Stapleton | Reuters A historic housing shortage – brought on by the one-two punch of slow construction and strong pandemic-induced demand – is finally starting to ease. Active listings for homes jumped 19% in June, the fastest annual pace since Realtor.com began
Susan Collins officially took office Friday as the president of the Federal Reserve Bank of Boston, making history in becoming the first Black woman to lead a regional Fed bank. Collins comes from the University of Michigan, where she worked for 15 years, serving most recently as provost and previously as dean of the Gerald
Ryanair boss Michael O’Leary, the pioneer of low-cost travel in Europe, has warned fares will rise for the next five years because flying has become “too cheap” to make profits as industry costs spiral. His warning comes as ticket prices have risen in Europe and the US this summer as passengers return and some airlines
The U.S. Virgin Islands Water and Power Authority board approved an electric system budget Thursday it said will stop its loss of cash. WAPA Chief Financial Officer Jacob Lewis said the budget would stop the authority from “bleeding cash” by projecting a positive or zero free cash flow. The U.S. Virgin Islands Water and Power
Traders on the floor of the NYSE, June 29, 2022. Source: NYSE (Click here to subscribe to the new Delivering Alpha newsletter.) A majority of Wall Street investors believe the market stands pretty much dead in the water for the rest of 2022 and, as a result, think it’s time to buy dividend-paying stocks, according to the
In this article CCL RH Interior Design area of the Restoration Hardware store in the Meatpacking District of New York. Source: RH Check out the companies making headlines in midday trading Thursday. RH — Shares of RH fell 10.6% after the high-end furniture chain slashed its full-year outlook and said consumer demand for its products
As of July 1, 2022, residential tenant safety in Florida will be bolstered by a new law requiring background checks for prospective employees. Senate Bill 898, cited as “Miya’s Law,” was signed into law by Gov. Ron DeSantis in response to the death of Miya Marcano, a student killed in her Orlando apartment by a
Real estate and related industries account for more than a quarter of China’s economy, according to Moody’s estimates. CFOTO | Future Publishing | Getty Images China’s real estate bonds were once key performance drivers for Asia junk bond funds, but the market share from property bonds has fallen as a result of the country’s property
The historic deleveraging of the cryptocurrency market could be coming to an end, which could signal the close of the worst of the bear market, according to a JPMorgan analyst. In a Wednesday note, JPMorgan strategist Nikolaos Panigirtzoglou highlighted increased willingness of firms to bail out companies, and a healthy pace of venture capital funding
Gov. Phil Murphy signed New Jersey’s largest budget into law Thursday. As the nation faces an economic slowdown, Murphy addressed a joint session of New Jersey legislators and told them that the record $50.6 billion spending package, which follows strong consecutive tax seasons and includes a $7.8 billion surplus, avoided using “temporary windfalls for long-term
The UK’s trade performance fell to its worst level since records began in the first quarter of 2022, heaping more pressure on sterling in international currency markets. Although the Office for National Statistics warned that the figures it published were “subject to higher levels of uncertainty than normal”, the new system it used to collect