Month: September 2023

US Stocks Stumble as Consumer Confidence Dips and Bond Yields Rise

Concerns about higher interest rates can lead to reduced borrowing, higher financing costs, and a potential slowdown in economic activity. On Tuesday, September 27, the US stocks experienced a significant dip as bond yields inched up and consumer confidence declined for the second consecutive month in September. The Nasdaq Composite (INDEXNASDAQ: .IXIC), S&P 500 Index (INDEXSP: .INX), and Dow Jones Industrial Average (INDEXDJX: .DJI) all faced declines, with the latter plummeting by 388 points, its most substantial single-day drop since March. Factors that Fueled the Dow’s Decline This downturn was…

Hong Kong police recover $11M worth of assets in JPEX case: Report

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The Secretary for Security of Hong Kong, Chris Tang Ping-keung, has vowed to bring justice to people who fell victim to the JPEX crypto exchange fraud, local media has reported. In a press conference on Wednesday, Sept. 27, the security chief’s office said police are actively looking for the key operators behind the JPEX crypto exchange that orchestrated the country’s largest digital asset fraud. During the press conference, Tang Ping-keung revealed that the police had made 12 arrests in the case so far and seized more than 8 million Hong…

Binance Hails Turkey as a Crypto Hub

Speaking to Serdar Turan, the Editor-in-Chief of CoinDesk Türkiye, in the lead up to Binance Blockchain Week in early November, Conlan said: “I think we have an enormous potential and opportunity in Web3, and it’s one of the reasons I’ve been drawn to this industry three years ago. The major reason being the penetration. If you look at the global industry, we’re only at 5% penetration globally. I know obviously here in Turkey, it’s at 12%.” Source

US Lawmakers Jump In With Demands For The SEC

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Lawmakers in the United States have finally put their foot down and demanded that the US SEC Chairman approve Grayscale’s spot Bitcoin ETF proposal “immediately.” US Congress Imposes Spot Bitcoin ETF Immediate Approval A group of four members of the United States Congress sent a letter to the United States Securities and Exchange Commission (SEC) Chairman, Gary Gensler on Tuesday, September 26 demanding the prompt endorsement of spot Bitcoin ETFs.  The letter described major flaws in the US SEC’s rejection of Grayscale’s spot Bitcoin ETF proposal, stating that if the…

Binance Exits Russian Market, Sells Business to CommEX

The new development comes a day after CommEX officially launched on September 26, 2023. Binance, the world’s largest cryptocurrency exchange, has exited the Russian market, selling its business operations to CommEX, a digital assets trading platform. While Binance did not disclose the financial terms of the deal, the company assured its Russian users that all their assets are safe and will be securely protected during the transition process, which is expected to span up to a year. Binance to Start Migrating Users to CommEX Announcing the exit on September 27,…

BIS Chief Urges Countries to Establish Legal Frameworks for CBDCs

According to the report, in some countries, central banks are directing their attention toward wholesale CBDCs, which are designed to facilitate the settlement of interbank transfers and other wholesale transactions. Agustin Carstens, the General Manager of the Bank for International Settlements (BIS), has urged countries to take immediate action in establishing clear legal frameworks to support the implementation of Central Bank Digital Currencies (CBDCs). The BIS chief made this appeal during the BISIH-FSI conference held today in Switzerland. The bank published Carstens’ speech during the event on September 27, shedding…

Analysts bullish on Everlodge, Cardano, and Klaytn

According to analysts, Cardano and Klaytn may recover in October after a lackluster performance in September. Meanwhile, after rallying 80% in August, experts maintain a bullish outlook on Everlodge in the ongoing presale. Everlodge rallying in presale ELDG, Everlodge’s native token, is up 80% in the first three presale stages, rising from $0.01 to $0.018.  At this pace, bulls expect more growth in the next few months.  Everlodge is a decentralized finance (defi) marketplace that allows investors to fractionally invest in vacation properties such as holiday homes, luxury villas, and hotels. …