USD Shows Recovery As Pound Retreats Amid U.K. Government Tax Plan

The United States dollar regained its previous rally in the early hours of the European trading session on Friday following the release of another sizzling inflation metric. A Different Direction Meanwhile, the British Pound tumbles from its previous gains as speculations are rife as to the next course of action by the U.K. government. According … Read more

Pound Sterling Plunges As Bank Of England Hints At End To Bond Buying

The BOE has hinted at the possible end of its emergency bond-buying following the two-week intervention to shore up the financial market. BOE to End Rescue Efforts on Friday According to a report from the Financial Times quoting insider sources, the BOE has disclosed its readiness to extend its emergency bond purchase to Friday. Meanwhile, … Read more

Valkyrie Plans To Liquidate Its Bitcoin ETF Following Low Demand

The U.S.-based exchange-traded fund (ETF) issuer has announced that it would liquidate one of its several ETFs invested in firms exposed to Bitcoin. Low Customer Demands Forces Liquidity According to Valkyrie Funds LLC, its Valkyrie Balance Sheet Opportunities Fund (Nasdaq: VBB) will be delisted from the trading platform. The Nasdaq-listed Bitcoin-based digital asset has been … Read more

Dapper Labs Sidelines Russian Accounts Following EU Ban

After the European Union (EU) activated its eight-package sanctions on Russia by barring its citizens from holding and transacting cryptocurrencies, it seems other platforms are about to follow suit. Dapper Labs Barred Russian Accounts The developers of the Flow Blockchain, Dapper Labs, have canceled crypto accounts belonging to Russian citizens. The decision by Dapper Labs … Read more

MiCA: EU Approves Landmark Crypto Regulation Bill

In a move signifying its intent, the European Union has finally signed off on the Market in Crypto Assets (MiCA) regulations to provide comprehensive guidelines for crypto services providers. EU Endorses Industry-Wide Regulations On October 5, the European Union Council endorsed and released the official text of the long-awaited Markets in Crypto Assets (MiCA) law. … Read more

DOW Sheds 600 Points, Nasdaq Drops 3% Low As Stock Rates Dwindles

The frequent performance of the stock market has been a topic of debate amid rising inflation and a looming recession as market players grapple with economic turbulence. Stocks Tumbles Again Stocks dipped further again on Friday as traders assessed the impacts of the September job report. The reports indicate that unemployment rates are declining as … Read more

Huobi CEO Sells Entire Stake As Price Of HT Token Spikes

In a move that has surprised many, Huobi Global announced that its founder had parted ways with his entire stake at the crypto exchange after selling it to a Hong Kong-based firm. Founder Cedes Staking Control Huobi founder Leon Li is reported to have sold his entire controlling stake to About Capital Management. The agreement … Read more

Gary Gensler Defends His Stance, Says Most Cryptos Are Securities

After much ado about the status of some digital currencies, the chairman of the U.S. Securities and Exchange Commission (SEC) maintains that most cryptocurrencies are securities. Most Cryptos are Securities There have been arguments over whether digital assets could be classified as commodities or securities. Stakeholders in the U.S. crypto space see assets as commodities … Read more

BOE Suspends Plan Over “Market Instability,” Will The Fed Follow Suit?

Central banks globally are in for a challenging ride as they strive to rein in the surging inflation rate threatening economic growth and making a mess of their monetary policies. Bank of England Changes Gear over Market Instability Market instability has continued to hover around despite efforts by central banks to ensure hitch-free economic activity. … Read more

Beeple Suffers Phishing Attack As Hackers Hijack Discord URL

Another phishing incident has again popped up in the digital asset industry as the famous NFT artist, Mike “Beeple” Winkelmann, is the latest victim of scammers. Scammers Target Beeple’s Discord Server Phishing scammers have targeted Beeple’s official Discord URL. The attackers target unaware users by sending them a link to a wallet-draining channel on Discord.  … Read more

Refrain From Raising Crypto Interest Rates – UN Pleads

There has been a significant decline in the price of crypto since Jerome Powell, the chairman of the Federal Reserve, released the reserve’s intention to raise the interest on crypto transactions on the 21st of September, 2022, during an economic conference. Just as expected, the UN (United Nations) has swung into action as it involves … Read more