Day: October 11, 2023

Asian markets surge as European stocks show mixed performance

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The stock market in Asia and Europe had a contrasting day where a majority of the stock markets across the Asia-Pacific region climbed across the board while European markets had a mixed day. While South Korea’s bullish rally drove Asian markets, European shares faced downward pressure from underperforming luxury stocks. South Korea leads Asian stock rally South Korea took the lead on Wednesday among Asia Pacific stocks aided by a surge in its tech stocks. South Korea’s Kospi closed the day with a 1.98% gain at 2,450.08 points hitting a two-week…

LVMH Shares Down 6% after Disappointing Q3 2023 Earnings Report

The French giant attributed this decline to post-COVID-19 normalization, high inventory levels among retailers, and a slowdown in Hennessy cognac sales in the United States. LVMH, the world’s largest luxury conglomerate, experienced a significant drop in its shares on Wednesday following a disappointing financial earnings report for the third quarter (Q3) ending in September. The French luxury group, which controls popular brands like Louis Vuitton, Dior, Tiffany, and Bulgari, unveiled its third-quarter results and nine-month figures after the market closed on Tuesday, showing a 9% increase in sales for Q3,…

How war in Israel will move Bitcoin: analyst explains

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The outbreak of war between Israel and Hamas last weekend has geopolitical and economic implications that could influence the price of Bitcoin and other cryptocurrencies, according to YouTube crypto analist EllioTrades. The attacks, which caught many Israelis by surprise on the final day of the Jewish holiday Sukkot, involved thousands of rockets fired from Gaza as well as armed militants breaching the border fence and waging attacks on the ground. Hundreds were killed as cities and buildings were left in ruin. The analyst explains that at first glance, the conflict…

Ethereum Could See A Steep Decline If It Closes Below This Level

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On-chain data suggests an Ethereum close under the $1,530 level could lead to a significant drawdown for the cryptocurrency. Ethereum Support Levels Below $1,530 Are Very Thin Currently In a new post on X, analyst Ali has discussed what the support and resistance levels of Ethereum are looking like right now. These support and resistance levels aren’t the technical ones, however, but rather ones based on on-chain analysis. The support and resistance levels here are defined based on the density of investors’ cost bases. The “cost basis” here refers to…

Crypto Bank Xapo Snags European Broker License, Will Offer Stocks Like Apple

Starting out with a wallet, a cold-storage custody vault and a reserve of 30,000 bitcoin (BTC) back in 2013, Xapo later set up in Gibraltar under its virtual asset service provider (VASP) framework. Since beginning the process in 2019, Xapo has been granted a banking license, obtained principal membership with Visa and Mastercard as well as membership in SWIFT (the global system through which banks send money to each other). This means the firm can engage directly with correspondent banks, not via payment companies or third parties, and have access…

Klarna Launches AI Tool to Help Users Identify Items for Purchase

The tool will use AI to provide users with information on goods around them through the Klarna app by simply pointing their phones at items. Swedish fintech startup Klarna has launched an image recognition tool powered by artificial intelligence (AI). Using AI, Klarna wants to help people identify goods they would like to purchase. The new AI feature on the Klarna app allows users to point their phones at products to find information about similar items via the Klarna app. Klarna launched the feature on Wednesday. Speaking to CNBC, Klarna Chief Marketing…

Zero-knowledge proofs show potential from voting to finance – Cointelegraph Magazine

In a world increasingly anxious about privacy and exploitation of one’s personal data by governments, corporations, social media platforms and banks, zero-knowledge proofs may offer some relief.  Indeed, this emerging cryptographic protocol could partially remedy two rapidly growing global deficits: privacy and truth. ZK-proofs have already found a home within the cryptocurrency and blockchain sector — enabling scaling protocols to make Ethereum transactions faster and cheaper, for example. But this may just be the beginning.  One day, ZK-proofs could help convince your bank that your income is above a certain…

Slope Wallet hacker bridged funds to TRON, cashed out through OTCs

Blockchain sleuth ZachXBT says Slope Wallet founder Leal Cheung created a new project immediately after the hack. Victims of Slope Wallet hack, which suffered a $4 million loss in August 2022, are “unlikely” to see anything returned given that the team behind the project took no responsibility. A well-known blockchain investigator ZachXBT wrote in an X thread on Oct. 11, that the hacker successfully transferred the stolen crypto from Solana to Ethereum through “Binance nested exchanges.” Later, the bad actor laundered the funds through Tornado Cash, a sanctioned crypto mixer…