Month: June 2023

Maye Musk Cancels Jiu Jitsu Fight between Her Son Tesla CEO and Meta Platforms Co-Founder Mark Zuckerberg

Earlier, Meta co-founder Mark Zuckerberg had agreed to a Jiu-Jitsu fight in a cage with Tesla CEO Elon Musk following social media pressure. In what was described to be the biggest Jiu-Jitsu fight of the century, Meta Platforms Inc (NASDAQ: META) co-founder Mark Zuckerberg and Tesla Inc (NASDAQ: TSLA) CEO Elon Musk had agreed to lock each other in a physical contest. The fight was ostensibly triggered by Mario Nawfal, CEO of Web3 incubator platform IBC Group, after highlighting the competitive nature between Twitter and Meta in the social media…

Circle Was Top Depositor Aided by SVB Government Rescue: Bloomberg

Circle Internet Financial, which said at the time it had $3.3 billion in holdings at the bank, was followed in the list of top depositors by units of the bank itself, and then by tech-focused venture capital firm Sequoia with just over $1 billion, according to documents sent by the FDIC to Bloomberg under the Freedom of Information Act which were not redacted for commercially sensitive data, in an apparent mistake by the regulator. Source AidedBloombergCircleDepositorGovernmentRescueSVBTop CryptoX Portal

Bitcoin volatility takes a break as $31K BTC price yearly highs loom

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Bitcoin (BTC) denied the market fresh volatility at the June 23 Wall Street open as traders attempted to guess its next targets. BTC/USD 1-hour chart. Source: TradingView Bitcoin lacks “strong confirmation” of new upside Data from Cointelegraph Markets Pro and TradingView showed BTC price action continuing to hover around $30,000. A second day of sideways trading thus greeted market participants as prior upside stalled close to the yearly high at $31,000. Popular trader Daan Crypto Trades suggested that this area represented a popular invalidation point for those shorting BTC after…

Siemens Energy Stock Loses 35% as Review of Issues at Subsidiary Shows Wind Turbine Problems Could Last for Years

Siemens Energy CEO Christian Bruch said that “too much had been swept under the carpet” concerning Siemens Gamesa. Shares of Siemens Energy declined 35% earlier today as the company discarded its profit prediction and mentioned lasting wind turbine issues. Following a review of concerns at its subsidiary Siemens Gamesa, the company announced its findings of a “substantial increase in failure rates of wind turbine components”. However, its shares plunged as the market reacts to the unpleasant update. Siemens Energy Wind Turbine Issues Linger The Thursday report shows that the Siemens…

Binance Hires Former Justice Department Prosecutor in Fight with SEC

Kendall Day led the department’s efforts to combat money laundering, including dealing with charges related to money laundering, deferred prosecution agreement, etc. Amid its ongoing legal fight with the US Securities and Exchange Commission (SEC), crypto exchange Binance has hired a former white-collar prosecutor of the Department of Justice (DoJ), as per the court filing on Thursday, June 22. M. Kendall Day, a partner at Gibson Dunn & Crutcher’s Washington DC office, will serve as counsel for Binance in the SEC case. Previously, Day worked for 15 years as the…

TikTok Moves to Expand Online Retail Shop with New E-Commerce Initiative

The new shopping feature introduced by TikTok is limited to UK users for now. TikTok, the popular video-sharing social media platform, is taking a big step into the world of e-commerce with its latest shopping venture. The company has recently introduced a new in-app feature called “Trendy Beat”, which serves as a gateway to a world of trending and popular items. TikTok Unlocking a New E-Commerce Experience The new shopping feature allows users to explore and purchase a wide selection of products featured in viral videos, such as ear wax…

Rising institutional interest is a ‘bullish’ sign for crypto: SEBA Bank exec

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As more institutions go from only showing their interest in the crypto space into actually investing in Web3 projects, getting into crypto turns into a question of “when” rather than a question of “if” according to an executive from institution-focused crypto firm SEBA Bank.  At the World Token Summit, Cointelegraph spoke with chartered financial analyst Nasha Afshar, who works as a director at SEBA Bank. Afshar discussed topics like the institutional interest and adoption of crypto and trends that they’ve been noticing as of late. Cointelegraph reporter Ezra Reguerra with SEBA Bank’s…

Business Activity Growth Slows in Europe as Economy Suffers from High Interest Rates

There is a recorded plunge in business activity as Europe reels from rising inflation and a consistent increase in interest rates. Business activity in Europe is waning as the region suffers slow economic growth. Recent data shows that the euro zone’s flash composite Purchasing Managers’ Index (PMI) fell from 52.8 in May, to 50.3 in June. Although analysts had predicted 52.5, any score above 50 represents growth, while scores less than 50 points to shrinkage. In a conversation with CNBC’s Street Signs Europe, S&P Global Market Intelligence’s chief business economist,…

JPMorgan Introduces Euro-Dominated Transaction Settlement for Corporate Clients

Now, wholesale payment clients including renowned multinationals can choose to transfer either dollar or euro to/from their JPMorgan accounts anywhere in the world.  American multinational investment bank JPMorgan Chase & Co (NYSE: JPM) has introduced euro-dominated payments for its corporate clients as unveiled by Basak Toprak, JPMorgan’s head of Coin Systems for Europe, the Middle East and Africa. This was delivered as part of the investment giant’s plan to expand one of the most high-profile projects to bring blockchain technology to traditional banking through JPM Coin. Four years ago, JPMorgan…