After a weak start, the Switzerland market briefly moved higher around mid morning on Friday, but retreated and spent the rest of the day\'s session in negative territory. Amid a lack of fresh triggers, investors chose to take some profits. The benchmark SMI ended down by 51.67 points or 0.44% at 11,651.99, the day\'s low....
The San Diego federal court has ruled that Silvergate Bank must face a class-action lawsuit filed by FTX users which alleges that the bank aided fraud at the exchange and its associated trading firm, Alameda Research. Despite Silvergate’s attempt to dismiss the case in June, a federal court judge denied the motion on Wednesday in...
A day after posting a record closing high, the Canadian market turned weak as stocks drifted lower on Friday due to profit taking. Communications, real estate, technology and consumer discretionary stocks were among the prominent losers. The benchmark S&P/TSX Composite Index ended down by 77.44 points or 0.35% at 22,009.82, after scaling a low of...
The Bitcoin (BTC) price is pumping in the wake of the latest Fed policy announcement, which saw the bank leave interest rates unchanged at 5.25-5.5% for a fifth successive meeting and continue to forecast three rate cuts in 2024. Bitcoin was last trading in the mid-$67,000s, up around 9% daily. The BTC price has bounced...
Max Howell, the founder of the decentralized technology protocol tea Protocol, sat down for a chat with Cryptonews’ Matt Zahab, to discuss his highly popular Homebrew system, as well as the much-anticipated tea Protocol. He talked about the massive importance of properly compensating developers to create and maintain open-source software so they can work on...
The U.S. dollar gained in strength on Friday thanks to recent strong economic data, and on bets several other central banks will likely cut interest rates before the Federal Reserve. The Fed maintained its forecast for three interest rate cuts this year, but the timing of the first rate cut remains undetermined. The chances of...
The Bitcoin (BTC) bull run has clear skies above following the Federal Open Markets Committee (FOMC) interest rate decision on Wednesday. The Federal Reserve opted to keep its target interest rate flat in the range of 5.25% to 5.50%, despite February’s inflation figures clocking in slightly higher than expected last week at 3.2%. The FOMC...
FTX users are suing the now-defunct Silvergate by claiming it abetted FTX and its affiliated trading firm Alameda Research to commit a historic fraud. According to the customers launching the suit, FTX knowingly transferred customer money into Alameda Research. FTX is currently on trial for numerous offences related to fraud and money laundering charges. Central...
Japan will on Monday see leading index figures for February, highlighting a modest day for Asia-Pacific economic activity. The index is expected to slip 0.6 percent on month to a score of 109.9 after rising 2.1 percent to 110.2 in the previous month. Malaysia will release February numbers for consumer prices; in January, inflation was...
A British woman has been found guilty and convicted on Wednesday for laundering over $2.5 billion (£2 billion) worth of bitcoin for a Chinese fugitive. Jian Wen, a 42 year old British citizen has been found guilty for money laundering on behalf of a Chinese woman called Yadi Zhang. The jury found Wen guilty on one...