Day: March 30, 2023

Weekly Jobless Claims Climb to 198,000 as Employers Remain Reluctant to Downsize

The latest jobless claims indicate that the US labor market is tight amid rising interest rates as applications rose by 7,000. According to the Labor Department, US weekly jobless claims have climbed to 198,000, representing an increase of 7,000. Although the new figure is slightly higher than the 195,000 expected, it is still generally low in a tight labor market. The Department of Labor also reported a four-week moving average of weekly claims amounting to 198,250. This figure revealed an increase of 2,000 from the previous week’s unrevised average of 196,250. Still reporting…

Three Arrows Capital’s Kyle Davies Ordered to Respond to Subpoena Within 2 Weeks

Davies and fellow 3AC co-founder Su Zhu have previously been accused of refusing to engage in proceedings for the firm’s bankruptcy. “[Davies and Zhu] have made only selective and piecemeal disclosures … Refusal to cooperate violates their duties owed to Three Arrows,” said the hedge fund’s liquidators, Russell Crumpler and Christopher Farmer, in a court filing on Feb. 8. Source

U.S. Crypto Crackdown Sure Looks Like an Attempt to Kill a Promising Industry: CoinDesk Editorial

My reasons for disbelieving that there is coordinated ill-intent are twofold, one rooted in idealism and the other cynicism. First, this is the U.S., the land of opportunity and freedom. A deliberate attack against the economic freedom that crypto represents would run against this country’s values. Second, this is the U.S., the land of crumbling infrastructure. Our leadership can’t even muster the coordination necessary to repair the country’s bridges and railways. It is too depressing to imagine they might be more aligned on destroying the financial infrastructure of the future…

Cointelegraph Markets Pro’s 390% gain dwarves Bitcoin’s 33% rise

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In Cointelegraph Markets Pro’s latest VORTECS™ Report, the institutional-grade crypto trading platform displayed how its members could have captured a cumulative 390% gain by following seven trades based on four different advanced data indicators. The report depicts trading alerts generated between March 11 – 18, 2023.  The potential gains available to Cointelegraph Markets Pro subscribers significantly outperform a simple buy-and-hold strategy during the same period, which would’ve yielded holders of Bitcoin (BTC) a 33% gain. Cointelegraph Markets Pro uses indicators such as the VORTECS™ Score, NewsQuakes™, Most Active On-Chain and…

Japanese Government to Create Panel to Explore Digital Yen

While there is a plan to set up a panel in April, the Japanese government is also launching a pilot program for the digital yen in the same month. As the race for digital currencies intensifies, the Japanese government is considering launching a panel to examine the practicality of the digital yen. The Finance Ministry is reportedly considering creating an expert panel in April to examine the feasibility of issuing the digital yen. Since the Bank of Japan began research on CBDC in 2020, there have been numerous experiments to…

Hong Kong turns to Japan for advice after ‘mind-boggling’ Web3 influx

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In light of Hong Kong’s commitment to developing cryptocurrency infrastructure, fintech official King Leung has visited Japan to talk with policymakers and regulators in Tokyo to better understand the idea around Web3 digital assets. In an interview with Cointelegraph reporter Jesse Coghlan, King said that understanding the rationale behind Japan designing those regulations was something worth taking the trip for. In October, Hong Kong initiated its efforts to establish itself as a leading global center for cryptocurrency by introducing policies aimed at fostering a crypto-friendly regulatory framework for the industry…

Do Kwon to Stand Trial in Montenegro, May Serve Time Before Extradition – Bitcoin News

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Before extradition, Terraform Labs founder Do Kwon will first have to stand trial in Montenegro for traveling on a fake passport, according to his lawyer in the country. The fugitive crypto entrepreneur may also have to serve time in prison before he is extradited from the Balkan nation, its justice minister indicated. Alleged South Korean Crypto Fraudster Do Kwon Stays in the Balkans for Now, Officials Say Kwon Do-Hyung, the CEO of the company behind crashed stablecoin terrausd and cryptocurrency luna who is better known as Do Kwon, will face…

Binance Announces Radiant Capital Integration to Its Launchpool

The Radiant Capital-Binance Launchpool development reflects the growing dynamism in the exchange’s staking platform.  Decentralized, non-custodial lending protocol Radiant Capital (RDNT) has become the 32nd project onboarded to the Binance Launchpool. Reports say users can stake their Binance Coin (BNB) and TrueUSD (TUSD) into separate pools to farm RDNT tokens across 40 days. Farming commences on March 31st with a total Radiant Capital token supply of 1,000,000,000 RDNT. Binance also announced that the Radiant Capital Launchpool rewards are equivalent to 15,000,000 RDNT, or 1.5% of the total token supply. Furthermore, the circulating supply is…