On Thursday, Foundry Digital LLC, the mining company and subsidiary of Digital Currency Group (DCG), announced the launch of Foundry Logistics in order to advance standards in the cryptocurrency mining industry. The newly launched arm of the company plans to “bridge the gap between hardware manufacturers and buyers by providing an all-in-one solution for mining
West Virginia’s Treasurer Riley Moore on Thursday placed five companies on a state-mandated list of restricted financial institutions which he has deemed engage in a “boycott of energy companies.” The five financial firms which are now ineligible for state banking contacts are BlackRock Inc., Goldman Sachs Group Inc., J.P. Morgan Chase & Co., Morgan Stanley
This year, anybody receiving an annual statement from America’s mighty social security system might notice a tiny ticking time bomb — if they possess sharp eyes. Tucked into a footnote is a website link that explains that the two funds in this system — called “Disability Insurance” and “Old Age and Survivors Insurance” — have
Property owners in the path of Oklahoma Turnpike extensions contend their litigation should prevent a state oversight board’s approval of initial bonds for the $5 billion, 15-year plan. The Oklahoma Council of Bond Oversight had been scheduled to consider up to $450 million of new Oklahoma Turnpike Authority (OTA) revenue bonds and $50 million of
Few companies ever manage to pull off even a single significant transition in their business. But two in quick succession? Facebook co-founder Mark Zuckerberg talks about overhauling his company’s business as readily as most chief executives discuss their next new product feature. It is one of the legacies of being in social media, where new
“There is no such thing as public money,” Margaret Thatcher once said, “only taxpayers’ money”. Her dictum is one that Liz Truss and Rishi Sunak should heed in their race to become Britain’s next prime minister. Both candidates for the Conservative leadership, despite repeatedly lionising the Iron Lady, are competing on spending pledges. The former
As Congress investigates potential factors that are contributing to today’s housing shortage, a new Realtor.com analysis shows investors scooped up a record share of for-sale homes in the spring home buying season. While investor purchases softened in January and February, investor purchases in April were up 31% over the same time in 2021 and 64%
Uniswap was trading over 20% higher in Thursday’s session as the token rose to its highest point since April. This comes as crypto markets surged on Tuesday, in the aftermath of the Fed rate decision. Bitcoin cash moved to a six week high on the news. The global crypto market cap is 6.51% higher as
There are no happy surprises for the municipal bond market in the surprise budget reconciliation bill unveiled by Sen. Chuck Schumer and Sen. Joe Manchin Wednesday night. As has been the case with the last several iterations, the legislation fails to include any muni market wishes, like tax-exempt advance refunding. And the bill continues to
Jim Magats, former PayPal executive who is being named CEO of the startup MX Photo: Tom Cook MX, the startup competing against Plaid to help connect financial institutions and fintech players, is naming PayPal executive Jim Magats its new CEO, CNBC has learned. Magats, a nearly two-decade PayPal veteran who was most recently senior vice
The U.S. economy has declined for the second-straight quarter as the country’s gross domestic product (GDP) declined by 0.9% in Q2. The Bureau of Economic Analysis’s summary of the U.S. GDP follows the recent debate over the technical definition of a recession. America’s Q2 GDP Data Points to a Recession One of the principal agencies
Florida Gov. Ron DeSantis announced administrative actions and legislative proposals that are aimed at “protecting residents from the environmental, social, and corporate governance movement.” Saying ESG threatens the vitality of the American economy and economic freedom by targeting disfavored individuals and industries to advance what it calls a woke ideological agenda, DeSantis is proposing legislation
Bitcoin (BTC) regained more lost ground on the July 28 Wall Street open amid confusion over whether the United States had entered a new recession. Analysts call recession for United States on GDP print Data from Cointelegraph Markets Pro and TradingView tracked BTC/USD as it tested $23,000 for support after a leg up on the previous
Walt Disney couldn’t dream up a rollercoaster to rival the curves that California’s fiscal policymakers have had to navigate over the past two decades. In an historically short time frame, the state experienced the 2000 energy crisis that forced out then-Gov. Gray Davis; paid off $7 billion of deficit bonds issued by Gov. Arnold Schwarzenegger
The US economy shrank for a second consecutive quarter, meeting one of the common criteria for a technical recession and complicating the Federal Reserve’s push to stamp out soaring inflation with a string of aggressive rate rises. Data published by the commerce department on Thursday showed gross domestic product fell by 0.9 per cent on
Economics is the study of human behavior involving scarce resources — and the effects those behaviors have on those resources, explains Roderick McKinley. Tokenomics in crypto is a related but different field. Tokens are a way for projects to raise funds and build communities, and designing the way they work can be much more complex
According to the Law Commission, the United Kingdom statutory body, digital assets play an increasingly important role in modern society and as such, the law relating to these must be reviewed. Reforming the laws will not only protect the rights of users and maximize the potential of digital assets but can potentially position England and
Short-dated US government debt rallied on Thursday after data showing the American economy unexpectedly shrunk in the second quarter prompted traders to trim expectations for Federal Reserve rate increases. Yields on two-year Treasury notes, which are sensitive to monetary policy expectations, dipped 0.12 percentage points to 2.85 per cent as the debt jumped in price.
Crypto prices surged in today’s session, as markets continued to react to the Federal Reserve’s latest interest rate hike. The Fed opted to raise rates by 75 basis points (bps) for a second consecutive meeting. Bitcoin briefly rose above the $23K mark earlier in the day, with ethereum rallying to a fresh six-week high over
Take a look at some of the biggest movers in the premarket: Spirit Airlines (SAVE) – Spirit shares rose 3.9% in premarket trading after it agreed to be acquired by JetBlue (JBLU) for $33.50 per share in cash. That follows yesterday’s rejection by shareholders of Spirit’s previous deal to merge with Frontier Airlines parent Frontier