Share to FacebookShare to TwitterShare to LinkedinTopline Chinese financial officials announced Tuesday that the country would crack down on financial institutions conducting cryptocurrency business or offering related services in light of the market’s recent volatility, marking another blow to the nascent market reeling from one of its biggest sell-offs ever after booming institutional adoption helped…
New Zealand on Thursday lifted welfare benefit rates and promised billions of dollars more towards addressing rising inequality in its annual budget, as it predicted smaller deficits and a faster economic recovery from COVID-19.
The dollar gained ground on Wednesday, snapping a four-day losing streak and bouncing off a multi-month low following the release of the minutes from the Fed’s most recent monetary policy meeting. In those minutes, a number of members of the U.S. Federal Reserve’s Federal Open Market Committee (FOMC) said that should the economic recovery continue…
Gold prices on Tuesday rose to their highest in more than three months as a weaker U.S. dollar and grwoing inflationary pressure lifted bullion’s appeal as an inflation hedge. FUNDAMENTALS * Spot gold was up 0.2% at $1,868.89 per ounce by 0101 GMT, after hitt…
Share to FacebookShare to TwitterShare to LinkedinBitcoin and cryptocurrency investors are still reeling from a week that’s left the crypto market $300 billion lighter. The bitcoin price moved sharply lower this week, dragging down the wider $2.2 trillion cryptocurrency market, after Tesla TSLA billionaire Elon Musk announced his company would scale back its bitcoin ambitions—at…
The dollar edged higher on Monday as new COVID-19 restrictions in Asia and mixed economic data in China encouraged investors to stick with safer currencies. The euro fell marginally while other major currencies remained in tight ranges in a quiet start to the week. Bitcoin skidded to a three-month low after Tesla Inc (TSLA.O) boss…
Share to FacebookShare to TwitterShare to LinkedinTopline The price of dogecoin surged nearly 30% Friday following support from billionaire Elon Musk and an announcement that crypto exchange Coinbase would list the token, a boost that has allowed the volatile asset to reclaim its spot as the fourth most valuable cryptocurrency in an otherwise dismal market…
Tesla CEO Elon Musk in Los Angeles. zz/Wil R/STAR MAX/IPx Elon Musk, who has become a volatile force in the cryptocurrency universe, said Tesla is no longer accepting Bitcoin as payment for purchases of its electric vehicles owing to the excessive amount of carbon-based energy it uses. Bitcoin plunged following his comments. “We are concerned…
Share to FacebookShare to TwitterShare to LinkedinTopline The Colonial Pipeline Company reportedly paid hackers $5 million on Friday following a cyberattack that forced the pipeline offline and created a severe gas shortage, sources told Bloomberg News Thursday, which conflicts with reports the company would not pay a ransom. A Colonial Pipeline storage site in Charlotte,…
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