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Bitcoin rebounded swiftly after a sharp decline to $18,700. The asset was last seen trading at $19,121. Stocks equally trailed upward, recording gains of 1.5 percent, despite opening low at 0.3 percent. Why Are Assets On The Rise? Nick Timiraos, dubbed Fed’s mouthpiece by ZeroHedge, shared his opinion on the possible reason behind the market’s … Read more
Investors of Obelisk have claimed that its promoters had taken advantage of them financially. Before this, the National Consumer Commission (NCC) received consumer complaints. In a public declaration on Friday, the complainants said close friends and family members enlisted them. The complainants said that Obelisk convinced them to buy a “bitcoin mining machine.” The Scam … Read more
Payment adoption involving cryptocurrency among large enterprises is gaining traction as more businesses seek to leverage the popularity of digital assets to attract more customers. Walmart Hints at the Future with Crypto The U.S.-based retail behemoth, Walmart, is considering a future with cryptocurrency. According to its Global Chief Technology Officer, Suresh Kumar, cryptocurrency is set … Read more
The United States dollar regained its previous rally in the early hours of the European trading session on Friday following the release of another sizzling inflation metric. A Different Direction Meanwhile, the British Pound tumbles from its previous gains as speculations are rife as to the next course of action by the U.K. government. According … Read more
The BOE has hinted at the possible end of its emergency bond-buying following the two-week intervention to shore up the financial market. BOE to End Rescue Efforts on Friday According to a report from the Financial Times quoting insider sources, the BOE has disclosed its readiness to extend its emergency bond purchase to Friday. Meanwhile, … Read more
After the European Union (EU) activated its eight-package sanctions on Russia by barring its citizens from holding and transacting cryptocurrencies, it seems other platforms are about to follow suit. Dapper Labs Barred Russian Accounts The developers of the Flow Blockchain, Dapper Labs, have canceled crypto accounts belonging to Russian citizens. The decision by Dapper Labs … Read more
The frequent performance of the stock market has been a topic of debate amid rising inflation and a looming recession as market players grapple with economic turbulence. Stocks Tumbles Again Stocks dipped further again on Friday as traders assessed the impacts of the September job report. The reports indicate that unemployment rates are declining as … Read more
In a move that has surprised many, Huobi Global announced that its founder had parted ways with his entire stake at the crypto exchange after selling it to a Hong Kong-based firm. Founder Cedes Staking Control Huobi founder Leon Li is reported to have sold his entire controlling stake to About Capital Management. The agreement … Read more
Central banks globally are in for a challenging ride as they strive to rein in the surging inflation rate threatening economic growth and making a mess of their monetary policies. Bank of England Changes Gear over Market Instability Market instability has continued to hover around despite efforts by central banks to ensure hitch-free economic activity. … Read more
EUR/USD rallied around 200 pips after rebounding from lows. A triangle setup shows an upcoming reversal. The parity zone is crucial for detecting a bottom since the market would breach the triangle’s b-d trend line. EUR-USD rebounds from its lows as we end the month and trading week. The currency surged double-digits yesterday, rallying by … Read more
Australian markets still trend lower this year. The question remains, when will we bottom? Economists trust more downtrends are impending. Today’s sessions had the Australian markets extending their decline, with the material sector exploring the red in the afternoon. The benchmark ASX/S&P 200 Index lost 72 basis points on the day to 6,507, while the … Read more
MKR and XRP cryptocurrencies are staging a rally in a crypto market that is close to being moribund while waiting for the publication of the inflation report from the US Federal Reserve. The Personal Consumer Expenditure is set to be published at any moment. Dividends of the Legal Battle Recently, XRP sold at $0.492, being … Read more