Category: Cryptocurrency

Oil Inventories Rise by 0.62M Barrels Last Week: API

By Yasin Ebrahim Investing.com – U.S. crude stockpiles rose last week, adding to investor concerns of a jump in global oil supplies amid growing expectations an Iran nuclear deal is near. West Texas Intermediate, the benchmark for U.S. crude prices, was down $0.98 a barrel to $65.30 on the news, after settling down $0.49 at $65.41 a barrel. U.S. crude

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Wall Street closes lower on weak telecom stocks despite strong retail earnings

By Echo Wang (Reuters) – U.S. stocks ended down on Tuesday, slumping on a sharp decline in telecom stocks and weak housing starts data that overshadowed better-than-expected earnings from Walmart (NYSE:WMT) and Home Depot (NYSE:HD). AT&T Inc (NYSE:T) shed 5.8%, among the biggest percentage decliners in the benchmark S&P 500. It extended declines from Monday, when the telecoms firm said

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Current Announces Partnership With Acala To Create HyFi

Current, a leading US fintech company, announces its partnership with Acala, a decentralized finance platform built on the Polkadot network. With this partnership, they aim to establish a new category of hybrid finance (HyFi) combining both traditional and decentralized finance applications. To ensure the full trust of these products, Current will run its own infrastructure. Moreover, they will join the

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Elon Musk Loses World’s Second-Richest Rank as Tesla Dips

Based on Bloomberg’s report, Elon Musk has lost the second-richest position in the world. As Tesla’s CEO and founder of SpaceX, he lost his ranking after losing a total of $3.16 billion in one day. On another note, he lost his spot to the 72-year old LVMH Chairman Bernard Arnault. Musk’s fortune has dropped about $9.1 billion this year, while

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Bank of America Joins Paxos Blockchain Stock-Settlement Network

Wall Street is slowly, but surely adopting blockchain technology. Just recently, the Bank of America Corporation joined the Paxos Settlement Service created by the Paxos Trust Company. The service leverages blockchain technology to enable stock trade settlements within minutes instead of days. According to the official announcement, the Bank of America has already begun facilitating transactions internally in the past

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Bitcoin (BTC) Will Bounce Back Says 5 Analysts

Bitcoin (BTC) price dropped over 30% in a week from $59.3k to $41.9k, according to CoinGecko. This price drop made many crypto investors and analysts wonder whether BTC will recover from its loss. Let’s look into 5 analysts’ points of view on BTC. Firstly, Forex Live analyst Adam Button is bearish on BTC, however, specifically not crypto. Moreover, Button made

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Chinese trade associations sound crypto investment warning

The China Internet Finance Association has signed a joint statement with the China Banking Association and China Payment and Clearing Association, warning the public about the risks of investing in cryptocurrencies. According to a report by Shanghai Securities News on Tuesday, the aforementioned trade association under the People’s Bank of China issued a communique titled “Preventing the risk of virtual

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