Day: October 10, 2023

Binance Exchange’s $1B IRI Fund Falls Short of Expectations

Beyond Binance’s own commitment, the IRI garnered an additional $100 million in contributions from 18 organizations by February 2023. A recent report from Bloomberg suggests that the $1 billion Industry Recovery Initiative (IRI), launched by Binance has fallen short of expectations, with only 2.7% of the committed funds deployed. The Industry Recovery Initiative was first announced by Binance in November 2022 as a beacon of hope for the industry following the collapse of the defunct FTX Derivatives Exchange. With a commitment of $1 billion in BUSD, Binance aimed to bolster…

US Treasury Yields Fall as Investors Observe Potential Economic Effects of Israel-Hamas War

Treasury yields fell in the US as the war between Israel and Hamas rages on, with several thousand dead and wounded. Treasury yields fell in the US on Tuesday as investors consider the economic and geopolitical effects of the ongoing war between Israel and Palestinian militant movement Hamas. Early Tuesday morning, the 10-year Treasury fell over 12 basis points to 4.6571%. The 2-year Treasury yield also fell, hitting 4.9843% after losing nine basis points. Economists and investors are currently monitoring the Israel-Hamas conflict and considering the possibility that it would…

Higher-Than-Expected Revenue and Bright 2023 Outlook

Following the earnings report, the shares of PepsiCo saw a price increase. Yesterday, PepsiCo stock closed the trading session at $161.36 per share. In the pre-market trade today, PepsiCo shares are 0.84% up, or at $162.71 per share. PepsiCo (NASDAQ: PEP) has released its earnings report for the third quarter of 2023. One of the world’s largest food and beverage companies has managed to beat Wall Street’s estimates, delivering better-than-expected results. Due to great performance in Q3, PepsiCo has a positive 2023 full-year forecast. PepsiCo Q3 2023 Earnings: Highlights For the…

Key Points From the Sam Bankman-Fried Trial’s First Week

Gary Wang – who’s previously pleaded guilty to similar charges to what Bankman-Fried faces – testified that Bankman-Fried directed him to write code allowing Alameda Research to have a negative balance on FTX as far back as July 2019. Ultimately Alameda took and spent at least $8 billion of FTX customers’ money, Wang said. Wang opened by saying he committed crimes, did so with Bankman-Fried, Caroline Ellison and Nishad Singh and that he was hoping for no jail time as a result of his cooperation. FTX had an insurance fund…

Will $0.055 Withstand The Pressure?

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Dogecoin (DOGE) has been in a state of horizontal consolidation since mid-August, as it trades within the narrow range of $0.068 and $0.053. This period of consolidation has been marked by daily charts adorned with short-bodied candlesticks, a visual testament to the lack of enthusiasm from both buyers and sellers.  It’s a curious phase in the world of DOGE, where the price appears to be biding its time, awaiting a catalyst to break free from this stasis. However, recent market fluctuations have cast a shadow over this tranquility, pushing DOGE…

Court of Appeal rules ICO acted lawfully in subject access request complaint litigation

“We take pride in providing a great service to customers and getting the best outcomes we can for people complaining about breaches of their information rights. This is at the heart of what the ICO does. “We received more than 33,500 data protection complaints in 2022/23 and issued nearly 40,000 outcome decisions in the same period – figures that clearly demonstrate how many people we help each year. We’re pleased that the Court of Appeal agrees that it’s important we’re able to prioritise appropriately, taking into account the merits of…

Bitcoin (BTC) Dominance Continues to Climb

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The Bitcoin market dominance rate, which tracks the largest cryptocurrency’s share of the total digital asset market, rose to 51.2% on Tuesday, near a 26-month high of 52% reached at the end of June. The world’s largest cryptocurrency has gained 66% year to date, compared with the second largest cryptocurrency by market value, ether, which has gained 32%. According to LMAX Digital, ether’s underperformance against bitcoin is due to ether’s recent “healthy increase” in ether supply over the past month. LMAX also notes that “decreased transaction activity on Ethereum means…

Blockchain’s 2 billionth user could be an AI, says Joe Lubin

As a co-founder of the Ethereum blockchain, Joe Lubin’s footprint is all over the world of crypto.  Some of the Canadian’s detractors argue that his footprint is perhaps a little too large, his reported influence on legislators and ties to centralized finance firms like JPMorgan Chase & Co. too pronounced for a longterm champion of the decentralization philosophy underpinning blockchain development.  Regardless, Lubin has played a foundational role in the crypto industry, leading or bankrolling some of the most well-known on-chain products. He said he sees developers increasingly incorporating artificial…

Retail Chain Trader Joe’s Sues Namesake DEX, JOE Slumps

“Defendants operate a cryptocurrency platform called “Trader Joe” and use the domain name traderjoexyz.com,” the filing read. “Defendants named the platform “after the supermarket”—none other than Trader Joe’s—and developed a narrative around a fictionalized “Trader Joe” who sells his crops in the local marketplace, further evoking Trader Joe’s business and brand.” Source

Bitcoin dominance surges. Will the BTC price go up?

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As Bitcoin’s dominance rises, it could hint at a bullish wave of BTC price amid 2024 halving and geopolitical issues. We asked experts to get insights. Bitcoin’s (BTC) dominance represents the proportion of the total cryptocurrency market capitalization that belongs to Bitcoin. It acts as an indicator that crypto traders can use to assess market conditions. Recently, this dominance metric rose above the 50% mark once more, turning heads in the crypto community, especially with the anticipated 2024 halving. BTC dominance chart | Source: CoinMarketCap To give you perspective, in January…