Month: May 2023

BP Stock Tanked Over 5% Despite Company Beating Q1 2023 Profit Expectations

Amid lower fossil fuel costs, BP’s profits tanked in comparison to the bumper profits recorded in 2022. On Tuesday, May 2, oil major British Petroleum (BP) reported stronger-than-expected first-quarter (Q1 2023) profits, and rising from the previous quarter i.e. Q4 2022. However, the numbers were down from the exceptional profits that the company recorded during a blockbuster 2022 when fossil fuel prices shot up significantly following Russia’s invasion of Ukraine. BP Q1 2023 Performance During the first quarter, the British energy giant reported an underlying replacement cost profit of $4.96…

Sotheby’s Launches Secondary Art-selling NFT Marketplace for Collectors & Artists

The new secondary art NFT marketplace by Sotheby’s also pays royalties from sales directly to the artists, from payments made by collectors. Sotheby’s has launched an on-chain non-fungible token (NFT) marketplace that facilitates the sale of secondary digital art items. According to Decrypt, the New York-based auction house now supports secondary NFT sales, allowing artists to transact directly with collectors. For example, interested collectors can list and make offers on work from select artists. The next evolution of #SothebysMetaverse is here! The most trusted and dynamic destination to collect, buy and sell remarkable…

Analysts Consider US National Security Policy a Pretext to Establish Trade Sanctions Against Other Countries – Economics Bitcoin News

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International analysts have called out the supposed use of the national security policy of the U.S. as a tool to justify the establishment of blockades and economic sanctions against countries like China and Russia. While U.S. Treasury Secretary Janet Yellen has recognized that a decoupling of the economies of the U.S. and China would be “disastrous,” the U.S. government is said to be putting its security policies over this concern. U.S. Using National Security Policy as Abusive Tool, Analysts Warn Several analysts have referred to the usage of the U.S.…

Bitcoin price sweeps lows, but analysis still predicts a $25K dive

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Bitcoin (BTC) fought for $28,000 support on May 2 after the month opened to multi-day lows. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC price: “Big volatility on the horizon” Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it returned to the $28,000 mark on Bitstamp. The previous day’s Wall Street open had brought the latest wave of downside volatility, with the pair dipping below $27,700. This followed a leg lower immediately after the weekly and monthly close, with $30,000 and upward feeling increasingly out of reach. Market…

Bitcoin’s ‘relief rally possibly ends after bullish surge

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied As of April, bitcoin’s price has remained steady at around $28,000 since March 23rd, marking a significant increase from its starting point of $17,000 at the beginning of the year. Now, crypto traders and investors focus on whether bitcoin’s current price is still on the uptrend or if the relief rally is nearing its end. At the time of writing, bitcoin is sitting at 28,000, a 1.3% decrease in the last 24 hours. BTC to USD…

JPMorgan Chase Acquires First Republic Bank After Crisis

American multinational banking giant JPMorgan Chase has emerged as the lucky buyer of the embattled regional banking firm, First Republic Bank. As reported by CNBC, JPMorgan Chase & Co (NYSE: JPM) acquired all of the deposits of First Republic Bank (NYSE: FRC) and a substantial number of its shares. The acquisition was made possible after regulators took a hold of the bank on Monday. This notably placed the collapse of First Republic Bank as the worst in the US banking ecosystem since 2008. According to JPMorgan, it considers the acquisition as…

Liechtenstein embraces crypto evolution with updated digital asset laws

Even as one of the world’s smallest countries, Liechtenstein continues to prove itself as a leader in blockchain regulation.  After implementing the Token and Trusted Technology Service Providers Act (TVTG), in 2019, the country has continued to gain attention from European and international crypto communities. A pioneering step The TVTG created a regulated framework for token-related services, putting Liechtenstein among the first countries globally to enact legislation specifically for the crypto and blockchain industry, and the act has been in force since the start of 2020. Since the implementation of…

ARK Invest spends Int’l Workers’ Day buying $8M in Coinbase shares

ARK Invest, the investment management firm founded by legendary investor Cathie Wood, has celebrated International Workers’ Day by buying shares of cryptocurrency exchange Coinbase. On May 1, ARK purchased 129,604 Coinbase shares for its ARK Innovation exchange-traded fund (ETF), according to an investor notification seen by Cointelegraph. The investment company also bought 23,456 Coinbase shares for its ARK Next Generation Internet ETF and 15,809 for its Fintech Innovation ETF. The entire purchase amounted to 168,869 Coinbase shares, worth around $8.5 million. The acquisition makes up nearly 50% of the total…

ARK Invest spends Int’l Workers’ Day by buying $8M in Coinbase shares

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ARK Invest, the investment management firm founded by legendary investor Cathie Wood, has celebrated International Workers’ Day by buying shares of the cryptocurrency exchange Coinbase. On May 1, ARK purchased 129,604 Coinbase (COIN) shares for its ARK Innovation exchange-traded fund (ARKK), according to an investor notification seen by Cointelegraph. The investment company also bought 23,456 COIN stocks for the ARK Next Generation Internet ETF (ARKW) and 15,809 Coinbase shares for the Fintech Innovation ETF (ARKF). The entire purchase amounted to 168,869 Coinbase stocks, worth around $8.5 million. The acquisition makes…

Samsung employees banned from using ChatGPT-like AI tools

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Samsung is the latest entity to take a stance against emerging generative artificial intelligence (AI) tools as they rapidly infiltrate major global industries. According to a Bloomberg report on May 2, the company will ban the use of generative AI tools like ChatGPT among its employees. This new policy comes after Samsung staff uploaded a “sensitive code” to the platform. Samsung told staff that as interest in AI platforms is growing, so are the security risks. The internal memo highlighted concerns over the data sent to AI platforms and its potential…