Day: March 14, 2023

United (UAL) Shares Fall after Airlines Forecasts Q1 2023 Loss 

In addition to its shares falling, United Airlines also expects a “Q1 2023 average fuel price per gallon3 of between $3.31 and $3.41.” United Airlines Holdings Inc (NASDAQ: UAL) stock recently dropped 6% following the company’s bleak Q1 2023 results forecast. On Monday, the Chicago-based major American airline said it expects an adjusted quarterly loss ranging between 60 cents and $1 per share. According to United Airlines, the low expectation is due to smaller demand growth compared to other months. In addition, the airline company ascribed its restrained Q1 2023 performance…

CME Group Starts Trading for Event Contracts on Bitcoin Futures

The CME Group said the new event contracts on Bitcoin futures provide a limited-risk, highly transparent way for a wide range of investors to access the Bitcoin market via a fully regulated exchange. On Monday, March 13, popular derivatives trading platform CME Group announced that they have commenced the trading of event contracts on Bitcoin futures. In its statement, the CME Group said that this new product would be an addition to the company’s suite of 10 event contracts linked to its benchmark futures market. These types of contracts offer…

Coinbase (COIN) Stock Gains 10% amid Banking Crisis and Crypto Recovery

Coinbase shares are up approximately 67 percent YTD, despite a 62 percent decline last year. Coinbase Global Inc (NASDAQ: COIN) enjoyed a spike in market confidence, and the traditional banking sector proved risky to most investors. According to the latest stock market data from TradingView and MarketWatch, COIN shares closed Monday trading at $59.17, up 10.17 percent from the day’s opening price. The COIN rally continued during the after-hours trading session, up approximately 2 percent. Coinbase managed to maneuver the weekend banking crisis, which saw two major banks fail at…

Bitcoin surpasses $24k despite the recent bank collapses

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Bitcoin (BTC) surged almost 10% in the recent 24 hours, crossing a critical threshold of $24,000. The move comes as the US president has addressed the bank system’s stability. The latest series of bank collapses in the US has triggered a market-wide FUD (fear, uncertainty and doubt) among crypto investors. This caused a massive drop in cryptocurrencies’ prices, including bitcoin (BTC). The flagship digital currency, however, witnessed a quick recovery alongside the global crypto market capitalization.  Bitcoin is up by over 9% in the past 24 hours and trading above…

Egyptian Police Arrest 29 Alleged Masterminds of Crypto Mining App Scam – Regulation Bitcoin News

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The Egyptian police are reported to have recently arrested 29 individuals associated with the Hoggpool cryptocurrency mining app scam. In addition to seizing 95 mobile phones and 3,367 SIM cards, the police said domestic and foreign currency valued at $194,000 was recovered during the arrests. According to a lawyer representing over 1,000 victims, as many as 800,000 people may have fallen prey to the scam. 88 Digital Currency Wallets Used to Receive Funds From Investors Egyptian police recently arrested 29 individuals thought to be the masterminds of the Hoggpool cryptocurrency…

Coinbase Suspends BUSD Trading over Liquidity Concerns

Coinbase also noted that users will be able to withdraw their existing BUSD assets whenever they choose. Cryptocurrency exchange Coinbase has officially suspended BUSD trading on its platform. The decision follows from the earlier announcement by company CEO Brian Armstrong that the company would delist BUSD.  Recall that Coinbase claimed that BUSD no longer measured up to its listing standards after an internal review of the asset. Armstrong cited concerns that its users will not be able to get liquidity if Paxos stops minting BUSD. Following that announcement, there was…

Bitcoin Nears $25K as Interbank Funding Stress Indicator Surges to Highest Level Since COVID Crash

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Euler Finance blocks vulnerable module, working on recovering funds

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Decentralized finance (DeFi) lending protocol Euler Finance became a victim of a flash loan attack on March 13, resulting in the biggest hack of crypto in 2023 so far. The lending protocol lost nearly $197 million in the attack and impacted more than 11 other DeFi protocols as well. On March 14, Euler came out with an update on the situation and notified its users that they had disabled the vulnerable etoken module to block deposits and the vulnerable donation function. The firm said that they work with various security groups…