Hedge fund founder Anthony Scaramucci told CNBC on Wednesday that the Chinese government’s crackdown on Didi Global, just days after the ride-hailing giant went public in the U.S., is “a direct assault on global capitalism.” “The bad news for the Chinese and the United States now is, if you’re a capital allocator in the United
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In this article DIDI PDD NIO FANG SAM A navigation map on the app of Chinese ride-hailing giant Didi is seen on a mobile phone in front of the app logo displayed in this illustration picture taken July 1, 2021. Florence Lo | Reuters Check out the companies making headlines in midday trading. Didi — The
This year’s 500% accumulated gain took Ether’s (ETH) price to a $4,380 all-time high on May 12, and this rally was even more robust than the late-2017 move. The famous bull market, or bubble, depending on how you see it, took Ether’s price on a 390% rally from $290 in November 2017 to $1,420 in
Dogecoin (DOGE) has proven to the world that even a project that started as a joke can gain value and notoriety in the cryptocurrency space. This phenomenon opened the door for multiple ‘meme’ cryptocurrencies to gain a foothold and a quick look at the trending tokens list on CoinMarketCap shows the meme effect has found
Altcoins continue to move higher while the price of Bitcoin (BTC) remains trapped in the $31,000 to $36,000 price range. The predictable range appears to be helping Terra (LUNA), a blockchain protocol that specializes in fiat-pegged stablecoins like TerraUSD (UST) to power a price-stable global payment system. LUNA/USDT 1-day chart. Source: TradingView A quick scroll
Last week, I hitched a ride through the far suburbs of Washington, DC in a Tesla Model 3, entered a newly built subdivision where we found a row of townhomes and pulled into the garage of the first one. The car was plugged into the electric vehicle charger that was drawing from the nine-kilowatt solar
An IRS office building in the East Harlem neighborhood of New York. Timothy Fadek/Bloomberg via Getty Images Last December, two Atlanta tax professionals pled guilty to a scheme that defrauded the IRS of more than $250 million in taxes. The scam claimed more than $1.2 billion in fraudulent charitable deductions through so-called syndicated conservation easements,
Bitcoin’s (BTC) range-bound action seems to be increasing the confidence of institutional investors looking to resume investing in cryptocurrencies. Proof of this comes as Marshall Wace, a London-based hedge fund, announced plans to invest in the digital asset space, according to sources at the Financial Times. A survey of wealth managers and institutional investors already
In mid-May, a report stemming from residents in Shenzhen, China explained that the digital yuan wasn’t seeing widespread participation, which the Chinese government has alluded to in many press releases. Now a handful of China’s state-owned banks have asked staff to recruit 200 to 300 digital yuan users. The banks are also giving away small
President Joe Biden would be well advised to offer Jerome Powell a second term as chair of the Federal Reserve to preserve policy stability as the U.S. economy recovers from the pandemic, said former Fed Vice Chair Alan Blinder. Alan S. Blinder, former vice chairman of the Board of Governors of the Federal Reserve System
The Gates Foundation has announced a plan that would allow Melinda French Gates to resign as co-chair and receive “personal resources” from her estranged husband for her own philanthropic effort if either she or Bill Gates decide they can no longer work together. The escape hatch, which would come into force after two years, was
In this article OMEG A set of SkySat satellites before a launch. Planet Satellite imagery and data specialist Planet Labs is preparing to go public, announcing on Wednesday that it will merge with a SPAC to list on the New York Stock Exchange. Planet Labs is combining with special purpose acquisition company dMY Technology Group
In this article MMM FANG TME AAPL DIDI AMZN JD.com is one of the biggest e-commerce and logistics company in China. Zhang Peng | LightRocket | Getty Images Check out the companies making headlines in midday trading. Didi — Shares of the Chinese ride-hailing giant Didi Chuxing plunged more than 20% after China announced that
Crypto-focussed Swiss bank, Sygnum Bank, has announced it has become the first bank in the world to allow its clients to stake Ether. According to the July 6 blog post, the firm’s clients can now stake ETH through Sygnum’s institutional banking platform to earn yields of up to seven percent annually. Sygnum describes itself as
Aave hovered near its three-week high on Tuesday, helped by the prospects of its foray into the mainstream through the launch of an institutional lending platform. Fundamentals Dubbed as Aave Pro, the platform expects to become a “permissioned liquidity protocol” by offering institutions, corporates, and fintech clients access to decentralized finance (DeFi). That said, it would
Bitcoin (BTC) price continues to trade in a predictable range which has given traders confidence in trading altcoins and DeFi tokens. This translated to a 110% rally in the price of Alpha Finance Lab (ALPHA) over the past four days. Data from Cointelegraph Markets Pro and TradingView shows that since hitting a low of $0.30
It has never been easy to get prospective buyers to close on a real estate listing. Thanks to the internet, the task seems more difficult than ever. The market is rife with window shoppers and indecisive house hunters, making it a sometimes overwhelming challenge to get them to commit. While window shoppers can present a
The weekend rally in cryptocurrencies was led by Bitcoin (BTC) but this move was not supported by huge trading volumes. According to on-chain analysts at CryptoQuant, the low trading volume suggests that “whales are staying low without much action.” However, Bitcoin has successfully held the $30,000 support for two weeks, which suggests that accumulation is
On June 12, the crypto community celebrated the fact that the Bitcoin network locked in Taproot support in order to activate the largest upgrade the protocol has seen in four years. 24 days later, Taproot support via Bitcoin nodes has only reached 27.55% and upgrade supporters are pleading with the community to update their nodes.
At $3.16 billion in June, Texas sales tax collections were 18% higher than the same month a year ago and 10.4% above those in June 2019, State Comptroller Glenn Hegar said. “Monthly state sales tax collections remained exceptionally strong, with receipts from all major sectors other than those related to oil and gas surpassing pre-pandemic
On Friday evening in Beijing, just before trading opened in New York, Didi Chuxing received an alarming call from a little-known Chinese regulator. The Cyberspace Administration of China, the internet watchdog, warned the country’s answer to ride-hailing group Uber that in one hour, it would be publicly ordered to stop signing up users, according to
In this article DSX EGLE GNK GOGL SBLK 316-HK 1919-SZ Aerial view of shipping containers sitting stacked at Shenzhen Yantian Port on February 27, 2021 in Shenzhen, Guangdong Province of China. Xie Feng | Getty Images Skyrocketing shipping prices, exacerbated by limited vessel supply, could bode well for some of analysts’ favorite shipping stocks. Global
Bitcoin (BTC), the largest cryptocurrency by market capitalization, has already started losing its market dominance to Ether (ETH), according to Celsius Network CEO Alex Mashinsky. In a Monday interview with Kitco News, Mashinsky argued that the Ether “flippening,” or the hypothetical scenario in which Ether overtakes Bitcoin as the world’s most valued cryptocurrency, is already
Decentralized finance (DeFi) has emerged as one of the most promising real-world applications of blockchain technology, capable of reshaping the face of the global financial markets and transforming the way the average person manages their money. One DeFi focused project that has been gaining attention over the past week as the mainstream world slowly opens
The amount of Bitcoin (BTC) held on exchanges has been declining steadily since mid-May, offering reassurance that the worst of the market selloff has passed. At current levels, Bitcoin’s exchange supply is at its lowest level since early January, according to crypto analytics firm Santiment. “The 6-month low is a promising sign, as it generally
Equity strategists and portfolio managers were asked about what the price of bitcoin will be by the year-end. Almost half of the surveyed participants say the price of the cryptocurrency will fall below the $30K level but some believe it will rise to $60K. Year-End Bitcoin Price Expectations by Equity Strategists and Portfolio Managers Equity
Oil prices jumped to the highest level in three years after Opec and its allies abandoned a decision over increasing oil production, as Saudi Arabia, Russia and the UAE struggled to reach a compromise. Opec+ oil ministers had been due to reconvene on Monday after failing to reach a deal at the end of last
Take a look at some of the biggest movers in the premarket: Virgin Galactic (SPCE) – The space transportation company’s stock dropped 3% in premarket trading, after Bank of America Securities double-downgraded the stock to “underperform” from “buy.” BofA notes the recent spike in the stock after the company received approval to carry passengers into
Ether’s (ETH) $230 million options expiry on Friday appears to have shifted market sentiment in favor of the bulls, at least momentarily, as investors remain cautiously optimistic about the upcoming London hard fork and the prospect that Bitcoin (BTC) has established a firm bottom. ETH price update ETH rose more than 6.5% to $2,370 on
The growth of stablecoins that are not fully backed by safe assets could trigger a destabilization in short-term credit markets, rating agency Fitch has warned. In a commentary note, the agency explained that coins that are fully backed by safe assets pose a lesser risk for the financial markets. The agency gives USD Coin (USDC),