“To the Singapore courts, how the relationship between [the BVI, U.S., and Singapore entities] is described on the companies’ website or publicity materials would not matter,” Lin said. “The real test is of the actual relationship between the entities, and the court will consider whether there is real evidence that Three Arrows Singapore is in actuality a subsidiary.” Source
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Bank of America has forecasted that the U.S. economy will slide into a recession this year. “A number of forces have coincided to slow economic momentum more rapidly than we previously expected,” the bank’s economists said. US Economy Heading Into a Recession This Year, Says Bank of America Bank of America’s economists now expect a recession in the U.S. this year. In a report published Wednesday, they explained: “Our previous baseline outlook for the U.S. economy featured a growth recession. But a number of forces have coincided to slow economic…
While American stocks plunged at the opening of Wall Street on July 14, Bitcoin escaped losses, but traders remained uneasy. Analysts Weigh In On Bitcoin Bottom The S&P 500 and Nasdaq Composite Index both fell by about 1.8% at the time of writing as Wall Street opened in the red. Although the largest cryptocurrency’s correlation to stocks declined to its lowest levels of 2022 so far, Bitcoin was still able to hold its own. BTC/USD trades above $20k. Source: TradingView BTC/USD fluctuated around $20,000 during the day, as shown by…
Crypto investors found cause for celebration on July 14 as the market experienced a positive trading session just one day after the Consumer Price Index (CPI) posted a June print of 9.1%, its highest level since 1981. Daily cryptocurrency market performance. Source: Coin360 The move higher in the market wasn’t entirely unexpected for seasoned traders who have become familiar with a one to two-day bounce in asset prices following the most recent CPI prints. These traders also know there’s nothing to get too excited about as the bounces have typically…
Decentralized Web3 infrastructure provider Ankr Network (ANKR) has introduced its Ankr Network 2.0 upgrade aimed at transitioning blockchains into more resilient node networks. The upgrade is detailed in the Ankr 2.0 Whitepaper which was obtained by Cryptox ahead of its release later today. The upgrade centers around making Web3 more decentralized through several new features, such as an option to run an independent node, the ability to stake ANKR tokens on a full node, and the Ankr DAO. A spokesperson explained to Cryptox: “The upgrade is aimed at transitioning more…
Millionaire investor from the Shark Tank TV show Kevin O’Leary says there’s going to be “total panic” and “massive volatility” in the crypto markets ahead before the industry swings back toward stronger firms and clearer regulations. Despite the recent fall of crypto finance firms including Voyager Digital and Celsius, O’Leary told Cointelegraph on July 13 that we’re still missing a “real big event” seen in previous market cycles before we go back to accelerated growth in the space, stating: “This passion play gets played out over and over again.” Some…
press release PRESS RELEASE. Monopoly Millionaire Game, a marine-themed GameFi that involves island construction, cultivating, shooting and more, announced that it has completed a seed funding of 1 million US Dollar. By this round of funding, MMG was valued at 10 million US Dollar. Mirana Ventures led the seed funding round. Other notable investors included Kernel Ventures, Mint Ventures, Crypto J, and Ventorylabs. MMG Team said it will use the fund to help realize the MMG GameFi vision and attract more users to participate in the Web3 games. In MMG,…
While the crypto market had succumbed to the winter, there are some digital assets that have refused to be dragged down with it. These cryptocurrencies putting up a harder fight than even their larger counterparts have been able to keep their heads above water. Two weeks into the new month and most assets in the space are already in the red. However, the Mid Cap cryptocurrencies have barreled in the opposite direction. Mid Cap Index Takes The Lead The July market has not been a favorable one for investors. This…