Day: January 26, 2023

Nasdaq Sees Lower Close for Second Day amid Corporate Earnings Season

The tech-heavy Nasdaq dipped 0.18% on Wednesday to close lower for the second day as corporate earnings roll on.  Nasdaq recently recorded a slightly lower close for a second day amid the latest batch of corporate quarterly earnings. The tech-heavy index closed lower on Wednesday for the second consecutive day as investors assessed corporate performances amid macroeconomic parameters. These parameters include rising interest rates, fluctuating energy prices, scarcity in tech raw materials (semiconductors), and mounting recession fears. The latest Nasdaq lower close saw the index dip 0.18% to 11,313.36, with the S&P…

Where Are the Crypto OGs? — Taxation Is Theft, but Joe Biden Needs Ice Cream Money – Op-Ed Bitcoin News

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Bitcoin was once viewed as a means to opt out of violent, legacy financial systems. Now, it is being co-opted by the very same, and zealous newcomers to crypto think that’s a good thing, while still giving lip service to peer-to-peer values. Ignoring the problems with fiat money, they beg political interests and bad actors to regulate Satoshi’s digital innovation. One such actor, Joe Biden, has been in the news recently complaining about not getting enough tax money from struggling Americans. To Biden and his elitist ilk, the destruction of…

Elizabeth Warren Praises SEC Chief Gensler, Slams Crypto Lobby

“The SEC should double down and use its tools to enforce the rules and where the SEC needs more cops on the beat, then Congress needs to step up with the resources and the new authorities that are needed to make sure the SEC can do its work at full strength in every corner of the crypto market,” Warren said. All U.S. regulators must work together to police the many facets of industry, including its environmental impact from mining activities, she said. Source

Dow Futures Ink Slight Gains as Investors Digest Corporate Earnings Result

When most of the legacy stocks perform well, there is always a significant rub-off on the Dow Futures. The United States stock market is seeing a great deal of mixed activity with the futures tied to the Dow Jones Industrial Average (INDEXDJX: .DJI) soaring up by inching upward by 0.01%. Investors are somewhat showing positivity for the market after digesting some of the earnings reports that have been published thus far. Futures tied to the S&P 500 (INDEXSP: .INX) are also up 0.1% while those tied to the tech-heavy Nasdaq…

How to mine Bitcoin at home

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Bitcoin mining (BTC) is the process of adding transactions to the Bitcoin blockchain, a decentralized public ledger of all Bitcoin transactions. Miners use powerful computers to solve complex mathematical puzzles, known as proof-of-work (PoW), to validate transactions and add them to the blockchain. In return, miners receive newly minted BTC as a reward for their work. The process of mining Bitcoin involves solving a complex mathematical puzzle, known as a hash, using specialized software and hardware. The miner that solves the puzzle first is rewarded with new BTC, as well…

SBF allegedly used FTX money to invest $400M in obscure VC firm

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Authorities in the United States might have discovered yet another possible component of Sam Bankman-Fried’s cryptocurrency empire. U.S. federal prosecutors have alleged that Bankman-Fried has used money from FTX exchange to invest in the venture capital (VC) firm Modulo Capital, according to The New York Times. As previously reported, SBF’s hedge fund and FTX’s sister firm, Alameda Research, invested a total of $400 million in Modulo in 2022, which became one of the most significant investments by SBF. The funding has drawn particular attention from regulators due to Modulo — a…

Governor of Irish Central Bank Calls for Ban on Crypto Advertising

According to Makhlouf, cryptocurrencies present a minimal risk to financial stability, but they can significantly affect retail customers. As most of the coins are not backed by any fiat currencies or other assets, a ban should be imposed on crypto advertisements. The Governor of the Central Bank of Ireland Gabriel Makhlouf, known for his skepticism towards crypto, has called for banning crypto ads. Believing that crypto ads often lead to Ponzi schemes, Irish Central Bank Crief said that investing in “unbacked” cryptocurrencies is “essentially gambling.” And young people become the targets most…

Algorithmic stablecoin market share dropped by 10x from ATH: Report

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The notorious failure of the Terra USD (UST) stablecoin affected the crypto market, but the algorithmic stablecoins took the harshest punch. Since its peak in April 2022, the market share of algorithmic stablecoins shrank almost tenfold.  According to a new report from CryptoCompare, the current market share of algorithmic stablecoins stands at 1.71%, while its all-time high record in April 2022 reached 12.4% of the whole crypto market. Before its crash, Terra USD accounted for 79.8% of the algorithmic stablecoin’s market share. The stablecoin market is generally suffering, with January…

Several Crypto Exchange Websites Taken Down in Kazakhstan – Exchanges Bitcoin News

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Financial authorities in Kazakhstan have targeted at least five online platforms exchanging cryptocurrencies outside the law. Documents, computer equipment, and cryptocurrency wallets have been seized during searches in the northern part of the country. Kazakhstan’s Financial Watchdog Goes After Unlicensed Crypto Exchange Services The Financial Monitoring Agency (FMA) of the Republic of Kazakhstan has dismantled a group involved in the illegal exchange of cryptocurrencies. Its members organized the trading through several websites such as kzobmen.com, 1wm.kz, kazobmen.ru, wm007.kz, and kz-exchange.com. As part of the operation in Kostanay region, searches were…