Month: September 2023

US Treasury Yield Hits Multi-Year High amid Fed Rate Decision

Amid sticky inflation, Fed Chair Jerome Powell said that they would approach the monetary policy very cautiously. Analysts expect only two rate cuts instead of four, in 2024. On Thursday, September 21, the US Treasury yields experienced an upward surge approaching levels not observed in over a decade. This movement followed the Federal Reserve’s announcement regarding interest rates and future guidance. US Treasury Yield The yield on the 10-year Treasury increased by approximately 9 basis points, reaching 4.435%, marking a new high last witnessed in 2007. Meanwhile, the 2-year Treasury…

Toshiba to Go Private after Successful Takeover Bid Worth $13.5B

Toshiba believes that going private may help give the company renewed focus to tackle all of its teeming problems. Japanese multinational electronics company Toshiba Corporation is set to go private after a successful acquisition by a group of buyers led by Japan Industrial Partners. The deal, worth ¥2 trillion ($13.5 billion) will reverse Toshiba’s status as a publicly-listed company. Toshiba has officially announced that the JIP-led group now holds 78.65% of the company’s outstanding shares. For the takeover, the group needed to purchase more than two-thirds of the company. The…

eToro secures crypto registration in Cyprus to expand in EU

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Cryptocurrency-friendly brokerage firm eToro is expanding its crypto services worldwide after securing new regulatory approval in Europe. EToro has received a Crypto Asset Service Provider (CASP) registration from the Cyprus Securities and Exchange Commission (CySEC), the firm officially announced on Sept. 21. According to eToro, the registration will authorize it to offer regulated crypto services to all countries in the European Union from one single entity known as eToro Europe Digital Assets. The registration will specifically come into effect once the EU’s Markets in Crypto-Assets Regulation (MiCA) is enforced in…

Alchemy Pay Obtains Money Transmitter License in Arkansas, United States

The issuance of this license, provided by the Arkansas Securities Department, marks a pivotal moment for Alchemy Pay as it is the company’s first Money Transmitter License within the United States. Alchemy Pay, a cryptocurrency payment gateway, has significantly expanded its global presence by securing a Money Transmitter License in the state of Arkansas, United States. With the help of this license, Alchemy Pay will be able to provide the state with a wide array of financial services related to cryptocurrency and digital currency transactions, including prepaid access, and the…

Mt. Gox Trustee Extends Repayment Deadline to October 2024

The trustee cited the need for additional time to facilitate the rehabilitation process. Defunct cryptocurrency exchange Mt. Gox has yet again postponed its repayment deadline by one year. This significant development was confirmed in a letter shared by Nobuaki Kobayashi, the trustee responsible for overseeing the rehabilitation of the exchange. Initially slated for October 31, 2023, the repayment deadline has been shifted to October 31, 2024, following approval from the Tokyo District Court. Mt. Gox Creditors Hit with Additional Wait Time The Mt. Gox case has been a prolonged saga…

NFT Platform ImmutableX’s IMX Token Rallies

IMX, the native token of non-fungible tokens platform ImmutableX, surged on Thursday, led by South Korean traders. The cryptocurrency rose 35% to 74 cents during Asian trading hours, CoinDesk data show. Major cryptocurrencies like bitcoin (BTC), ether (ETH), XRP and BNB traded 0.5% to 1% lower. The IMX price rally is accompanied by an over 22% increase in the 24-hour global trading volume, which rose to $556 million. The IMX-Korean won (IMX/KRW) pair listed on South Korea’s Upbit exchange accounted for nearly 20% of the global activity, followed by Binance’s…

Former Alameda Employee Accuses Firm of Causing BTC 87% Price Dip in 2021

The ‘honest’ mistake did eventually cost Alameda some millions of dollars. An individual simply identified as Baradwaj has dropped a bombshell of an accusation on his former employer Alameda Research. According to him, Alameda, which was owned by Sam Bankman-Fried, played a prominent role in the downward spiral of Bitcoin (BTC) that saw its prices plunge over 87% on Binance.US within minutes. This was back in 2021. At the time, BTC’s price dipped to as low as $8,200 from around $65,760, albeit in a manner that could not be immediately…

Ethereum Bearish Signal Reappears After Five Years To Threaten ETH’s Price

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Ethereum has been one of the cryptocurrencies to maintain a reasonably high level even through multiple price crashes in the market. However, it seems like the altcoin will not be able to hold as it has done in the past with a dreaded bearish signal resurfacing to threaten the asset’s price. Ethereum Addresses Holding More Than 1,000 Coins Fall Over the last few years, the Ethereum whales have fervently held on to their coins. The large holders were some of the most convinced when it comes to the altcoin, with…

EU’s MiCA Could Lead to Multiple Stablecoin Delisting, Binance Warns

“A lot of the stablecoin issuers will be, or will purport to be, completely decentralized, therefore without any point of decision or issuance” and hence unable to meet MiCA strictures, Thomas Vogel, a partner at law firm Latham & Watkins, said. “This has become a sort of threshold question for a lot of the people we talk to, and as far as I can tell there is not much guidance.” Original Source BinanceDelistingEUsLeadMiCAMultipleStablecoinWarns CryptoX Portal