Day: October 10, 2023

The economy is refusing to die — which may mean it’s time to go risk-on

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The United States economy seems like it is refusing to be derailed. It added a staggering 336,000 jobs in September, defying most expectations. This achievement becomes all the more remarkable against the backdrop of soaring yields on longer-term Treasury bonds and surging mortgage rates. The message embedded in the job data is crystal clear: the world’s largest economy continues to charge forward, even in the face of aggressive monetary tightening. It’s a testament to the economy’s resilience, and suggests that higher interests are here to stay for an extended period.…

FTX founder Sam Bankman-Fried’s trial day 5: Recap

Bankman-Fried’s girlfriend and Alameda’s ex-CEO took the stand on the second week of the trial, revealing that SBF used customer funds for political lobbying. The second week of FTX founder Sam Bankman-Fried’s trial kicked off at 10 a.m. New York time today, as the defendant’s ex-girlfriend and former Alameda CEO, Caroline Ellison, took the stand. The testimony revealed details of how SBF used FTX’s customer funds, including political lobbying for both Democrats and Republicans.  Cross-examination of Gary Wang, CTO and Co-founder of FTX Gary Wang was questioned by the prosecutors…

US Stocks rise for third straight day as bond yields fall

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October 10, 2023 Stocks in the US rose for the third straight day as the market continues to assess the effect of the Israeli-Hamas conflict. Bond yields fell as investors desired the safety of US Treasuries, and these falling yields helped to bolster the stock market. Today was the first day that Treasuries have been traded since the start of the Israeli-Hamas conflict, as the bond market was closed on Monday. The Dow rose 134.65 points (0.4%), to 33,739.30. The S&P 500 gained 22.58 points (0.5%), reaching 4,358.24. The Nasdaq…

How Hamas Lost its Crypto In An Israeli Operation, Binance Supports Security Forces

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Israeli law enforcement launched an operation targeting crypto addresses associated with the terrorist group Hamas. The country suffered an attack this past Sunday, leading to deaths and many civilians disappearing. BNB’s price trends to the downside on the daily chart. Source: BNBUSDT on Tradingview Binance And Israel Work Together To Freeze Crypto A local news media Calculist report confirmed an operation led by the Israeli Police Department and the National Counterterrorism Headquarters, part of the Ministry of Defense. The operation was supported by the world’s largest crypto exchange, Binance. During…

Web3 game METAPIXEL has suspended all operations

The METAPIXEL game, a high-profile Web3 project developed by Korea’s NPIXEL, has been put on indefinite hold, with all team members removed from the project. Popular web3 game METAPIXEL has stopped operations, according to several team members. As posted on X (formally known as Twitter) earlier today, all members of the team are unable to participate in the project. METAPIXEL earned immense popularity last year after it was announced that NPIXEL, a Korean AAA gaming studio, developed the game. The game was launched on the Apotos blockchain. However, members of…

Crypto Analyst Identifies 6 Overlooked Altcoins That Could Be Due For A Price Surge

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With tens of thousands of altcoins circulating the market, crypto investors can easily miss out on the next 100x coin due to it not being on their radar. This is often not the fault of the investor as it can be hard to keep track of so many coins. As a result of this, a Santiment analyst has presented a total of 6 overlooked altcoins that could be primed for a rally. Crypto Analyst Presents Altcoins Using Network Activity As pointed out by the crypto analyst in the Santiment post,…

Galxe replacing 110% of funds users lost in recent front-end hack, over $400K

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Galxe is making users whole by 110% if they lost funds in a recent hack, the firm announced on Oct. 10. “We want to express our deepest gratitude to those who are standing by us during this difficult time,” the company said. Users’ funds will be automatically returned on Oct. 16 to the wallet addresses they were taken from unless they request other handling. The affected users will be paid in Tether (USDT) with the value calculated as of 10:00 UTC Oct. 9. Attention Raisers! The first October partnership campaign…

Bitcoin Price (BTC) Flat as U.S. Stocks Advance, While Dollar Drops on Dovish Signal

“Despite the recent global turmoil, bitcoin has demonstrated exceptional strength, securing its position as the top-performing asset over the past 30 days relative to the US Dollar,” Joel Kruger, market strategist at LMAX Group, noted in an email. He attributed BTC’s rising dominance to the second-largest crypto asset ETH’s stronger correlation with risk sentiment and its increasing token supply after reverting to being inflationary, making bitcoin more attractive for investors. Source

Crypto advocates weigh on race for next US House Speaker

At the time of publication, half of the legislative branch of the federal government of the United States was largely paralyzed following a vote ousting then Speaker Kevin McCarthy. U.S. lawmakers voted to declare the office of Speaker of the House of Representatives vacant on Oct. 3, marking the first time in the history of the United States the government body was without leadership. Representatives are scheduled to return to Congress on Oct. 11 to vote on a new Speaker, with reports suggesting that Republicans Jim Jordan and Steve Scalise…

Bitcoin price could hit $750K to $1M by 2026 — Arthur Hayes

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Love him or hate him, when Arthur Hayes speaks, people listen.  Last week, as a guest on Impact Theory with Tom Bilyeu, Hayes made the case for why he believes Bitcoin (BTC) price will hit $750,000 to $1 million by 2026. Hayes said, “I absolutely agree that there is going to be a major financial crisis, probably as bad or worse than the great depression, sometime near the end of the decade, before we get there we’re gonna have, I think, the largest bull market in stocks, real estate, crypto,…