The Egyptian police are reported to have recently arrested 29 individuals associated with the Hoggpool cryptocurrency mining app scam. In addition to seizing 95 mobile phones and 3,367 SIM cards, the police said domestic and foreign currency valued at $194,000 was recovered during the arrests. According to a lawyer representing over 1,000 victims, as many
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A residential neighborhood in Austin, Texas, on Sunday, May 22, 2022. Jordan Vonderhaar | Bloomberg | Getty Images The average rate on the popular 30-year fixed mortgage dropped to 6.57% on Monday, according to Mortgage News Daily. That’s down from a rate of 6.76% on Friday and a recent high of 7.05% last Wednesday. Mortgage
The Federal Reserve’s top regulator will lead a probe of its supervision activity that preceded the second-largest bank failure in U.S. history, the central bank announced Monday. Fed Vice Chair for Supervision Michael Barr will conduct a review of the regulation and supervision activity applied to Santa Clara, Calif.-based Silicon Valley Bank, which was shut
Wisconsin heads into the market Tuesday with a new money and refunding transportation issue against a backdrop of debate over how to spend a record $7 billion surplus, with the legislature’s Republican majority in the driver’s seat. The size of the borrowing is in flux and dependent on market technicals Tuesday when the deal is
With #tovfurniture having more than 25.7 million views on TikTok, including a collaboration with Alix Earle, as well as a strong following on Instagram, it’s fair to say Tov is the furniture brand taking over social media. It’s easy to understand why. Every piece is beautifully and thoughtfully designed, yet on-trend. Still, many pieces have
Three banks, Silvergate, Silicon Valley Bank and Signature collapsed within a span of a few days. That increased demand for United States government bonds, which sent the yield on the 2-year Treasury tumbling to 4.06%, a fall of 100 basis points since March 8. This was the largest 3-day decline since Oct. 22, 1987, following
Bitcoin (BTC) begins a new week with a bullish surge above $22,000 as the Federal Reserve injects liquidity into the United States economy. In a move which can rival any classic Bitcoin comeback, BTC/USD is up a full 15% off the two-month lows seen on March 10. The volatility — and at least temporary relief
The failure of Silicon Valley Bank has torn into global markets, with investors ripping up their forecasts for further rises in interest rates and dumping bank stocks around the world. Government bond prices soared on Monday, posting some of the biggest rallies since the crisis of 2008, as fund managers ramped up bets that the
In this article ZS HIBB SNOW GRMN CRM Follow your favorite stocksCREATE FREE ACCOUNT Clifton Pemble, President and CEO, Garmin at the NYSE December 7, 2021. Source: NYSE Investors have no shortage of worries, be it the economy slipping into a recession due to higher interest rates or the havoc that whiplashed financial stocks last
Grady Hendrix Albert Mitchell After Louise’s parents unexpectedly die in a car accident, she returns home to Charleston, where her plans to get her childhood home ready for sale are soon complicated. There’s her parents’ endless stuff, including the hundreds of dolls her mother owned. There’s her estranged brother, Matt, trying to cheat her out
The UK chancellor is preparing a dramatic intervention to provide a cash lifeline to scores of tech businesses next week as he seeks to contain the damage caused by the collapse of Silicon Valley Bank. Jeremy Hunt said there was “a serious risk” to tech and life sciences companies that used SVB’s UK bank, many
A draft law designed to regulate crypto mining in Russia introduces harsh penalties for miners failing to report digital assets to the state. In its latest revision, the bill also threatens to punish those who organize illegal trading of cryptocurrencies with imprisonment and hefty fines. Forced Labor Awaits Miners and Traders Who Operate Outside Law,
Top Stories This Week Silicon Valley Bank shut down by California regulator, holding over $5 billion for prominent crypto VCs Silicon Valley Bank (SVB) was shut down by California’s financial watchdog on March 10 after announcing a significant sale of assets and stocks aimed at raising additional capital. The California watchdog appointed the Federal Deposit
The Silicon Valley Bank (SVB) collapse on March 10 has sparked fear, uncertainty and doubt (FUD) across the crypto community, leading many to return to crypto roots — reviving the Bitcoin white paper published just weeks after the Lehman Brothers meltdown in 2008. It’s truly amazing how many people are scared that a couple banks
Layer-2 networks continue to gain momentum as the Ethereum ecosystem advances. For example, data from analytics provider Token Terminal found that layer-2 scaling solution Polygon had 313,457 daily active users as of Jan. 17, 2023 — a 30% increase in activity since October 2022. Moreover, the Polygon ecosystem recently announced the launch of its beta
The phrase “house of Gucci” may bring the book or film to mind, but in the exclusive residential heart of Rome there literally is a house constructed and still owned by Gucci family heirs. Intrigued? It’s for sale. In the late 1940s, fashion magnate and one-time CEO Aldo Gucci, the eldest son of the iconic
Silicon Valley Bank was shuttered by US regulators on Friday after customers raced to withdraw $42bn — a quarter of its total deposits — in one day and a failed effort to raise new capital called into question the future of the tech-focused lender. With about $209bn in assets, SVB has become the second-largest bank
Big round numbers always pique the interest of investors and the $1 trillion total crypto market capitalization is no exception. It’s a level that held for 48 days before collapsing on March 9. After a 16-hour negative 8.6% price movement, the indicator fell to $914 billion, its lowest level since Jan.13. Concerns about the stability
Municipals were firmer to end the week, outperforming a U.S. Treasury rally after the employment report revealed more jobs than expected were added in February. Equities sold off. Triple-A benchmark yields were bumped five to 10 basis points, depending on the curve, while U.S. Treasury yields fell 20 to 31 basis points, pushing the five-,
In this article SI SBNY Follow your favorite stocksCREATE FREE ACCOUNT The New York Stock Exchange stands in lower Manhattan after global stocks fell as concerns mount that rising inflation will prompt central banks to tighten monetary policy on May 11, 2021 in New York City. By mid afternoon the tech-heavy Nasdaq Composite had lost