Day: May 22, 2023

JPMorgan Hikes 2023 Key Revenue Target to $84B Following Its First Republic Acquisition

Banking powerhouse JPMorgan recently increased its 2023 revenue target by $3 billion on improved operational prospects.  JPMorgan Chase (NYSE: JPM) has increased its 2023 key revenue target to $84 billion following its acquisition of First Republic earlier this month. The New York-based banking giant revealed the projected performance at an investor presentation Monday which should last throughout the day. Details of JPMorgan Revenue Target Development The new JPMorgan revenue target is $3 billion higher than the guidance given in April following the bank’s commendable Q1 2023 results. At the time,…

Temporary Relief or Calm before Storm

Despite a decline in crypto hacks in Q1 2023, the article warns that it is likely a temporary break before a potential surge in attacks. Crypto hacks significantly decreased during Q1 2023 compared to 2022, according to a report by blockchain intelligence company TRM Labs. According to the TRM Labs study reported by Cointelegraph, the amount stolen in cryptocurrencies dropped dramatically from nearly $30 million to less than $11 million compared to the quarters of 2022. “The average hack size also took a hit in Q1 2023 – down to…

Senators Elizabeth Warren and Roger Marshall’s Anti-Money-Laundering Bill Signals Crypto Is Headed for a Clash With National Security Interests

But in a world where the blockchain transactions are truly untraceable, the significant anti-money laundering (AML) rules and regulations built up since the 1970s, and the expanded anti-terrorist financing (CFT, or countering the financing of terrorism) processes put in place since the 2000s, may become toothless. The status quo among crypto, law-enforcement and national-security communities will turn into open conflict. Source

Bitcoin Pizza Day Turns Sour as Meme Coin Shysters Profit Over $200K in Rug Pulls

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Prominent Crypto Exchange Hotbit Suspends Operations Amid Shifting Market Trends

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Hotbit, a prominent centralized cryptocurrency exchange (CEX), has announced that it will be suspending its business operations. The decision revealed on May 22, 2023, comes after five years of service. The crypto exchange cited several factors that led to this decision, including the shifting trends in the crypto market, the detachment of stablecoins from their $1 benchmarks, and the deteriorating operating conditions. Established in 2018, Hotbit swiftly gained popularity and became one of the leading exchanges in the industry. It offered users various options for trading digital assets, including meme…

Bitcoin is about to explode, analyst suggests

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied A recent video by the macrocycle analysis channel, The Chart Guys, hosted by crypto Youtuber Jason Pizzino, offered an extensive examination of historical cycles in stocks, real estate, and bitcoin (BTC). The analyst provided intriguing insights into possible market trends in six to twelve months. The video explored the influence of bitcoin on the global economy, pondering whether it is driving market shifts or the other way around. The role of timing in the global market…

Huobi Ordered to Cease Operations in Malaysia after Failure to Comply with Local Regulations

The Malaysian SC has urged the local investors to immediately cease trading via Huobi Global, withdraw their investments, and close their accounts. A leading centralized crypto firm Huobi Global Limited and its Chief Executive Officer Leon Li have been accused of operating a digital asset exchange in Malaysia without registration. As a result, the Securities Commission of Malaysia (SC) has ordered the cryptocurrency exchange to immediately cease operations within its jurisdiction. Notably, the SC has ordered Huobi Global to disable its official website and mobile applications in Malaysia henceforth. Huobi…

EU Slaps $1.3B Fine on Meta for Violating GDPR EU User Data Protection Laws

On Monday, the EU imposed a record $1.3 billion fine on social media giant Meta for transferring EU user data to the US.  Meta Platforms Inc (NASDAQ: META) recently incurred a record 1.2 billion euros ($1.3 billion) fine from the European Union (EU) for privacy violations. European privacy regulators alleged that the Facebook parent unlawfully transferred data from European users to the US. The Irish Data Protection Commission (DPC), which announced the penalty, also ordered Meta to cease the further transfer of EU user data to the US. However, Meta said it would…