On Tuesday, Shopify announced that it was going to reduce its global workforce by 10%, which means it would lay off about 1,000 workers. The shares of the company plunged 14% after the announcement. Laying off workforce The chief executive of Shopify, Tobi Lutke, sent a memo to the staff in which he acknowledge that […]
On Tuesday, there was a gain of as much as 6.5% in the Hong-Kong listed shares of Alibaba, after the announcement of the Chinese tech giant about pursuing a dual primary listing. However, it ended up trimming some of the gains, as the stock had risen by 4.82% by the end of the trading session. […]
On Monday, London’s benchmark FTSE 100 index climbed, thanks to commodities and bank stocks in a trading session that was very choppy. This was after data showed that there was a slowdown in the industrial output in Britain, but there were tentative indications that price pressures were coming down from their peak. Index rises There […]
On Friday, a gauge of world stocks recorded declines to end the week lower, after having recorded gains for five sessions in a row. Meanwhile, the US dollar also declined against a basket of major currencies because the US business activity data turned out soft. Heavy declines Early trading had seen modest losses on Wall […]
Bitcoin surprised crypto funs the previous week as the bellwether crypto embarked on uptrends, surging 22%. That saw altcoins rising, and Ethereum led the bullish journey. The second-largest crypto revived from month-long lows to $1,630, following a remarkable 55% upswing. Like ETH, Cardano’s ADA rebounded from below its range lows. Nevertheless, ADA could not overcome […]
The US Securities and Exchange Commission (SEC) recently made claims that crypto exchange Coinbase is offering unregistered securities to its clients after it filed an insider trading case against one of the former employees of the company. The lawsuit On Thursday, the securities regulator filed a lawsuit against an ex-product manager of Coinbase Global, along […]
On Wednesday, US stocks finished the day higher, with a 1.6% gain recorded by the tech-heavy Nasdaq because of positive earning signs, with a close eye on interest rate hikes by the US Fed and inflation. Stocks rise There was a 7.4% gain recorded in Netflix stocks, after the prediction of the company about returning […]
One of the largest crypto exchanges in the market, Gemini has got a major achievement under its belt; it has become the first virtual asset service provider (VASP) in Ireland. Owned by twin brothers Tyler and Cameron Winklevoss, the exchange received the approval of the Central Bank of Ireland to provide its crypto trading services […]
Electric automaker Tesla Inc. disclosed that it sold off 75% of its bitcoin holdings for fiat currency. The total value of digital assets on the company’s balance sheet after the sale was around $218 million. Elon Musk, the chief executive of Tesla, stated that they did have plans of increasing their bitcoin holdings in the […]
Elizabeth Warren, the US Senator, said that there are a number of crypto companies out there that scam their clients. She said that these companies make off with the money from investors who are left holding the bag. Therefore, the senator said that there was an urgent need to develop stronger rules for the crypto […]
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On Monday, shares of British car insurers recorded declines, after Direct Line reduced its profitability outlook for this year. The company also pushed back the second part of its share buyback program, citing the increased volatility in the market and high inflation. Motor insurer problems Motor insurance companies were doing quite well at the beginning […]
Rising interest rates and soaring inflation has helped value stocks in outperforming most of the broader indexes this year. However, their outlook is turning bleak really quickly because of worries of a potential slowdown in the global economy. Shift in dynamic Stocks that trade at a discount on metrics like price-to-earnings and book value are […]
Spanish crypto exchange 2gether took its customers by surprise when it decided to block their access to its platform. Now, another crypto exchange in Spain has decided to step in to rescue the customers of the other platform. 2gether had demanded that its clients pay a fee of €20 to continue using its platform and […]
On Friday, solar stocks declined after Senator Joe Manchin refused to support the legislation aimed at increasing spending for addressing the issue of climate change. This year, the solar industry has had to deal with plenty of headwinds, which include supply chain disruptions, policy uncertainty, and an increase in the cost of raw materials. Invesco […]
A survey was recently conducted by KuCoin, which revealed that crypto penetration and adoption in Saudi Arabia had recorded a significant increase. According to the results of the survey, the country is now ranked as one of the largest crypto trading hubs in the world. Saudi Arabia’s crypto adoption There has been a tremendous increase […]
There are several states in the United States that are working on developing crypto regulation, as the popularity of the space continues to grow and so do the risks. The Department of Financial Protection and Innovation (DFPI) in California issued a warning to people to be cautious before they decide to make investments in crypto […]
One of the most renowned Brazilian payment companies, Picpay has announced that its app would now include crypto services as well. The company elaborated that the services would include direct processing of crypto payments and buying crypto as well. Picpay is following in the footsteps of companies like Mercado Libre and Nubank, which have also […]
On Monday, the Financial Stability Board (FSB) said that it would come up with a set of global crypto rules in October. This news came after the cryptocurrency market has seen a great deal of turmoil, which has highlighted the need for introducing regulations to oversee this ‘speculative’ and volatile sector. Recent turmoil prompts regulation […]
According to a new class-action lawsuit, the Howey test shows that Solana (SOL) is actually a security. The plaintiff claims that the circumstances and facts that relate to SOL indicate that it is a security in accordance with the Howey test and is not a cryptocurrency. New lawsuit On July 1st, a new lawsuit was […]
