Tara Annison shared the latest insights from the murky world of cryptocurrency-related crime during a presentation on the final day of EthCC in Paris, addressing a wide variety of ways digital assets are either facilitating crime or being used to launder funds. Continue Reading on Coin Telegraph More
A link to their report was attached to the tweet. Santiment stated that the quiet preparation of ETH to surge has been going unnoticed by many so far since everybody is watching the stellar growth of XRP and . The latter has been going up over the past few days.On July 12, Ethereum printed a chaos of long green candles with a few red ones to follow, rising 8.07% and reaching the $2,025 level briefly. The fall that followed has reached 6.71% by now, making ETH trade at $1,888 on the Bitstamp exchange.On that day, ETH again followed Bitcoin after British banking giant Standard Chartered (OTC:SCBFF) made a prediction that BTC may soar to $50,000 by the end of 2023 and hit $120,000 by the end of next year. Besides, the CPI reading came out at 3.1%, which was below the previous one (4%). This, however, made Bitcoin retrace to the $30,350 price mark.Santiment says that many altcoins begin to grow well as soon as traders become distracted from them by other assets in the market.Another major sign of a price bottom for Ethereum is traders starting to increase their transactions at a loss compared to those while at a profit. Price bottoms are often followed by buyers starting to outnumber sellers and the price going up again. Besides, a lot of Ethereum coins at the moment, per Santiment, are kept in cold wallets, and less than 7% of circulating ETH is stored on exchanges.Overall, Santiment analysts believe that at some point in August, Ethereum may well reclaim the $2,000 level and rise higher.This article was originally published on U.Today More
The Nasdaq Composite suffered its biggest one-day drop in more than four months yesterday as investor disappointment with results from Netflix and Tesla called into question the strong, months-long rally in the tech sector. The tech-heavy index dropped 2.1 per cent, its biggest daily decline since March 9. The broader S&P 500 index fell 0.7 per cent.Tesla shares tumbled 9.7 per cent, its biggest single-day drop since early January, after the electric-car maker said its profit margins slipped as a series of price cuts aimed at boosting sales weighed on earnings.Netflix fell 8.4 per cent, having missed sales estimates and posting lower than expected guidance for the third quarter. It was the stock’s biggest one-day drop since December 2022.Even after yesterday’s sell-off, the Nasdaq Composite index is still up more than 35 per cent this year following a wave of investment into artificial intelligence-related companies. The presumption that interest rates in the US are nearing their peak has also helped drive up equity prices this year. The US central bank will announce the outcome of its latest rate-setting meeting on Wednesday next week and it is widely expected to increase its main policy rate by a quarter of a percentage point but that is predicted by many economists to be the final rise in the current tightening cycle. Futures contracts tracking the Nasdaq 100 point to the index opening 0.3 per cent higher later today, while those tracking the benchmark S&P 500 rose 0.2 per cent ahead of the New York open.Here’s what else I’m keeping tabs on today and over the weekend:Results: Credit card group American Express and SLB, formerly Schlumberger, the oilfield services group, report second-quarter earnings today.Women’s football World Cup: The US team begins the defence of its title against Vietnam in Auckland at 9pm ET.Spanish elections: The Vox party is expected to notch wins on Sunday, potentially bringing the hard right into central government for the first time since Spain’s return to democracy.Five more top stories1. The Federal Reserve yesterday launched a new real-time payments system, called FedNow, to speed up the antiquated money transfer system in the US. It is the first new government-backed US payments system or “rail” since the start of the Automated Clearing House network in the 1970s. Read more on the changes.2. FTX, the bankrupt cryptocurrency exchange, has sued its founder Sam Bankman-Fried and three other former executives to claw back more than $1bn they allegedly misappropriated in the months leading up to its collapse last year. Read more on the lawsuit filed yesterday in a Delaware bankruptcy court.3. US cinema owners are looking to cash in on the meme-driven “Barbenheimer” phenomenon, which has led hundreds of thousands of film-goers to buy tickets to see Barbie on the same day as Oppenheimer this weekend. Read more on the rush to buy tickets for two wildly different films.4. Exclusive: The Asian Infrastructure Investment Bank has secured a $1bn deal with the World Bank to issue credit guarantees against sovereign-backed loans made by the latter’s lending arm. The agreement is one of the Beijing-backed group’s highest-profile partnerships and comes just weeks after it was accused of being infiltrated by China’s Communist party. Read the full story.China Focus: Check out the Financial Times’s hub that brings together our best work on Asia’s biggest economy.5. A shortage of Nvidia’s latest chips has provided start-ups with an opening to challenge the dominance of the world’s most valuable semiconductor company. Surging demand for the specialist chips that power artificial intelligence is expected to outstrip supplies well into next year. Here are the fledgling companies hoping to get a slice of the pie.How well did you keep up with the news this week? Take our quiz. News in-depth
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Nearly a year and a half into President Vladimir Putin’s war on Ukraine, fewer than 300 of the more than 3,350 large foreign companies with assets in Russia have managed to leave. The situation for those that remain has taken a turn for the worse, with a dearth of buyers and hardening Kremlin attitudes. “This is like Venezuela,” said a senior Moscow businessman. “They’re giving the best to their cronies.”We’re also reading and watching . . . Gillian Tett: New research highlights two issues that have hitherto been largely ignored following the collapse of Silicon Valley Bank in the spring.ATM attacks: Germany’s love of banknotes and a fragmented police force have made the country Europe’s centre for Dutch gangs using bombs to raid cash machines.‘Lure of the forbidden’: After a US army private made a sudden dash across the border into North Korea, focus is now turning to how he was able to do it and why.Chart of the day
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Would humanity settle on a new planet where going outdoors during daylight hours would be potentially lethal, asks the FT’s chief data reporter John Burn-Murdoch. Back on Earth, he points out that Phoenix, Arizona, where maximum temperatures have now exceeded 40C for 26 successive days, is America’s fastest-growing big city. He tries to explain this irrational behaviour in his latest column.Take a break from the newsThe Adirondacks region of New York state is known for its lakes and mountain retreats. The FT’s property section has listed five properties currently for sale.
This two-bedroom, two-bathroom house on the eastern side of Buck Island costs $2.4mn
Additional contributions by Tee Zhuo and Benjamin Wilhelm More
On June 25, 74-year-old Naum Lantsman lost his life savings of $340,000 to a crypto scam orchestrated over Instagram and Telegram. The DFR referenced the incident as it emphasized “the need for Vermonters to exercise extreme caution and vigilance when using or investing in cryptocurrency.”Continue Reading on Coin Telegraph More
A panel of British lawmakers called for regulating the U.K. crypto market similar to gambling in a May 17 committee report. The Treasury Committee said that crypto investment activity is consistent with the principle of “same risk, same regulatory outcome.”Continue Reading on Coin Telegraph More
(Reuters) – U.S. prosecutors have accused FTX founder Sam Bankman-Fried of witness tampering and asked a federal judge to issue an order that would bar the former billionaire and other parties from making public statements likely to interfere with a fair trial.The prosecutors wrote to U.S. District Judge Lewis Kaplan on Thursday referencing a New York Times article titled “Inside the Private Writings of Caroline Ellison, Star Witness in the FTX Case”.The article reported excerpts from Ellison’s personal Google (NASDAQ:GOOGL) documents from before the collapse of FTX in which she spoke about being “pretty unhappy and overwhelmed” with her job and feeling “hurt/rejected” from her breakup with Bankman-Fried.Ellison led Bankman-Fried’s Alameda Research hedge fund and has pleaded guilty to defrauding investors and agreed to cooperate with prosecutors. In December, Bankman-Fried said he and Ellison had been in a relationship but gave no further details.Prosecutors said it was apparent Bankman-Fried shared documents with the New York Times and that his lawyers have since confirmed to the government that he met with one of the article’s authors in person and shared documents “that were not part of the government’s discovery material.”Bankman-Fried’s spokesperson and lawyers did not immediately respond to requests for comment. Neither New York Times nor Ellison’s lawyers responded to Reuters’ requests for comment.The prosecutors argued that by sharing these documents, Bankman-Fried was trying to malign Ellison’s credibility, and that such conduct could chill witnesses from testifying and taint the jury pool.”By selectively sharing certain private documents with the New York Times, the defendant is attempting to discredit a witness, cast Ellison in a poor light, and advance his defense through the press and outside the constraints of the courtroom and rules of evidence: that Ellison was a jilted lover who perpetrated these crimes alone”, prosecutors wrote in the letter.Earlier on Thursday, FTX Trading sued founder Bankman-Fried and other former executives of the cryptocurrency exchange, seeking to recoup more than $1 billion they allegedly misappropriated before FTX went bankrupt. More
On July 19, the Royal Canadian Mounted Police (RCMP) in Richmond, a city south of Vancouver, said several similar robberies involving cryptocurrency investors have occurred over the last 12 months.Continue Reading on Coin Telegraph More
The Asian Infrastructure Investment Bank, Beijing’s answer to the World Bank, has approved one of its highest-profile international partnerships, just weeks after it was accused of being infiltrated by China’s Communist party.The AIIB’s board last week approved a proposal to issue $1bn in credit guarantees against sovereign-backed loans made by the World Bank’s lending arm, the International Bank for Reconstruction and Development.The partnership comes as multilateral development banks are trying to think more ambitiously about their role in mobilising finance. A G20 working group on capital adequacy last year recommended that development banks expand their use of financial innovation to provide additional lending capacity.The deal with the AIIB will allow the World Bank to overcome financing constraints and issue new lending while its Beijing-headquartered counterpart will be able to better deploy its surplus capital to a broader mix of borrowers.As a relatively young institution — it was set up in 2015 – the AIIB has only used about 43 per cent of its capital base, with committed financing of about $37bn, meaning it still has a lot of unused lending capacity. Danny Alexander, vice-president for policy and strategy at the AIIB, linked the partnership to a broader global effort to increase financing for climate challenges by “deepening co-operation and increasing the firepower” of multilateral development banks.“This transaction will strengthen the financing capacity of both institutions and is an example of how we can do more by working together,” he said.The proposal was first mooted by both institutions in June shortly after the AIIB’s Canadian former head of communications, Bob Pickard, abruptly left the bank, alleging that the Communist party was running it from the shadows “like an internal secret police”.The AIIB’s internal review this month concluded that it “follows the highest standards of multilateral governance” and there was no “undue influence” on decisions taken by the board of directors or management.The deal with the World Bank would enable the AIIB to diversify its portfolio and increase lending to low-income borrowers, said Oliver Burnage, head of the Beijing-based bank’s portfolio risk management department.For the World Bank, the plan would “provide relief against capital constraints” for the Washington-based institution, enabling it to extend fresh loans, according to a statement issued by the Washington-based institution in June. The World Bank has not announced its approval of the plan and did not respond to a request for comment.The AIIB, which was launched as a Chinese-led alternative to the World Bank and other western-led multilateral organisations, has 106 members including India, the UK, France, Australia, Canada and South Korea. The US and Japan have not joined.China has a 26.6 per cent voting stake in the bank, which gives it veto power over important decisions.Since its inauguration, the AIIB has signed co-operation agreements with the World Bank, with which it has co-financed a number of deals. It has a triple A rating, important for multilateral banks because it allows them to borrow cheaply and lend at lower rates to low-income countries.
Pickard’s allegations prompted Canada to halt all government-led activity at the bank while it launched a review. Pickard said at the time the Communist party was like an “invisible government” inside the bank. He did not provide specific examples of party interference in the AIIB’s high-level decision-making.The AIIB internal review said the bank had “a solid governance structure, comparable to and built on the lessons learned from other multilateral development banks”.“Half of AIIB’s financing has been co-financed with other [multilateral development banks],” the review said. “[The AIIB] also benefits from an AAA credit rating at all three of the principal agencies, which also assess the Bank’s governance positively.”Pickard’s accusations come amid an increasingly acrimonious geopolitical environment between China and the US and its allies. The allegations have also heightened tensions between Beijing and Canada, with Chinese state media last month attacking Ottawa’s statements on the controversy as a “politically motivated claim to discredit AIIB”. More
