First-time claims for U.S. unemployment benefits rose by much more than expected in the week ended May 4th, according to a report released by the Labor Department on Thursday. The report said initial jobless claims climbed to 231,000, an increase of 22,000 from the previous week\'s revised level of 209,000. Economists had expected jobless claims...
The tokenization of real-world assets (RWAs) may be the next “killer use case” for the crypto industry. Investment bank Citi released a report in March 2023 showing that the market for RWAs is projected to reach $4 trillion to $5 trillion by the year 2030. The report notes that the potential for tokenization via blockchain...
The U.S. dollar fell against its major counterparts in the New York session on Thursday, as weekly jobless claims rose more than expected last week, the highest level since August 2023. Data from the Labor Department showed that initial jobless claims climbed to 231,000, an increase of 22,000 from the previous week\'s revised level of...
Binance is fighting back against the DWF Labs allegation against the platform on May 9. This follows an explosive report from the Wall Street Journal (WSJ) that revealed that Binance dismissed an employee who uncovered evidence of market manipulation by DWF Labs, a major market on the trading platform. According to the WSJ report, the...
The euro firmed against its most major counterparts in the New York session on Thursday. The euro climbed to an 8-day high of 167.75 against the yen and a 2-day high of 1.0781 against the greenback, from an early low of 166.74 and a 6-day low of 1.0723, respectively The euro touched 0.9774 against the...
Robinhood and its CEO Vlad Tenev met with the United States Securities and Exchange Commission (SEC) 16 times before the commission sent the crypto company a Wells Notice, the CEO revealed in a Wednesday interview with CNBC.“We actually came in good faith to meet with the SEC. I think we met with them 16 times...
European stocks closed broadly higher on Thursday with most of the major markets extending recent gains, amid rising optimism about interest rate cuts by several central banks. Geopolitical tensions weighed a bit on sentiment and limited markets\' upside. Data showing a much bigger than expected increase in U.S. jobless claims in the week ended August...
Ethereum Co-Founder Joseph Lubin launched scathing criticisms against the Securities and Exchange Commission (SEC) on May 9, accusing the regulatory body of deliberately impeding innovation and obstructing Ethereum’s transformative potential in the banking landscape. Speaking at FT Live’s Crypto and Digital Assets summit in London, Lubin criticized the SEC’s approach, alleging that instead of fostering...
Indian shares may struggle for direction at open on Wednesday as U.S. rate concerns lingered and an escalation of the military operation in Rafah fueled uncertainty about a ceasefire in Gaza. The United States has played down the deadly Israeli assault on Rafah and said it would push for the ceasefire deal. On the earnings...
Asian stock markets are trading mostly lower on Wednesday, following the mixed cues from Wall Street overnight, as traders largely refrained from making significant moves after hawkish comments from a few US Fed officials again raised concerns about the outlook for interest rates. Asian markets closed mostly higher on Tuesday. Minneapolis Federal Reserve President Neel...