Binance Web3 wallet launches
Key Points Binance crypto exchange has launched a Binance Web3 wallet for its 150 M registered users. The Binance Web3 Wallet has been launched within the primary Binance app and is predominantly used for trading cryptocurrencies. Binance has announced the launch of...
What Is Short Selling and How Does It Affect a Market?
How the Process of Short Selling Typically Works:Ways How Short Selling Can Affect the MarketDrawbacks and Risks of Short sellingConclusion Short selling is a trading strategy in financial markets where an investor, known as a "short seller," borrows an asset (such as...
UAE Central Bank to take action against unlicensed Digital Asset Service Providers
Key Points The United Arab Emirates announced a plan to penalize unlicensed Virtual Asset Service Providers (VASPs). The country’s lawyer, Irina Heaver, explained that the new plan is part of UAE’s efforts to move out of the Financial Action Task Force’s “Grey List.”...
Sam Bankman-Fried will be “Skinned alive”: Anthony Scaramucci
Key Points SkyBridge founder Anthony Scaramucci has criticized the decision by Sam Bankman-Fried’s defense to allow him to take the stand. He says that the prosecutors will exploit weaknesses in his story and end up with a longer sentencing. Anthony Scaramucci, the...
How to Prepare for a Bull Market
Preparing for a bull market involves taking steps to make the most of potential investment opportunities and protecting your financial interests as the market experiences growth. Here are some strategies to consider: Educate Yourself: Stay informed about the financial...
Banking
U.K. economy check: Eurozone inflation falls, easing cost of living; Brexit remains a historic economic error
Eurozone inflation has fallen faster than anticipated a month ago, easing living costs.
U.K. house prices are falling at the fastest annual rates since 2009
Former U.S. Treasury Secretary Larry Summers says Brexit was a “historic economic error” that has hurt the U.K. economy, driving up inflation.
Elon Musk becomes the richest person in the world again
Tesla CEO Elon Musk has regained his status as the world’s richest man once again as he overtakes Bernard Arnault. Elon Musk is touring China for the first time in three years on May 31, 2023, meeting China’s foreign minister Qin Gang.
Debt ceiling bill passes in the House; Senate to have the last laugh
The House passed a debt ceiling bill on Wednesday night, days before the U.S. Treasury runs out of money to pay its bills.
Treasury Yields fall as investors anticipate debt ceiling vote
U.S. Treasury Yields have fallen as investors wait for a crucial debt ceiling vote to be held in the House of Representatives later in the day.
Analysts expect a 12th straight interest rate hike from the Bank of England, but the outlook remains murky
The Bank of England is expected to propose a 12th consecutive hike in interest on Thursday to keep the fight against inflation lively. The nation’s Core inflation remains unchanged, highlighting the possibility of entrenchment. As such, analysts expect the bank to announce a 7-2 split vote pushing the hikes trend upwards to hit 4.25% to 4.5%.
ECB hikes interest rates by 25 bps as inflation rages
As most market analysts expected, European Central Bank(ECB) has raised its interest rates again by another 25 basis points. Its President, Christine Lagarde, has announced this decision saying that they are rallying to maintain their battle against inflation. ECB...
Finance
Money market funds get record inflows in the U.K.
Investors in the U.K. have flocked into money market funds, according to a June report from Calastone, in the second-highest move of its kind in the country’s history. The move comes when the U.K. economy is in distress due to the rising inflation rate dragging costs of living up with it.
Yay, it’s the fourth of July America! Let’s reflect on financial freedom too!
It’s refreshing for all Americans as you celebrate your country’s independence. Fintech Express wishes you all a happy time. However, we also wish to make you reflect on what financial freedom and independence could mean to your lives
Britain gets left behind as the only major economy with rising inflation rates
Britain keeps experiencing increased economic pressure as inflation levels remain higher than its competing economies despite numerous rate hikes. The country is expected to endure a longer period of tough markets owing to interest rate hikes to tame inflation for the better part of the year.
President Ruto in distress as High Court dismisses CASes days after suspending controversial Finance Act
Kenya’s High Court deemed President Rutos’ 50 assistant cabinet secretaries unconstitutional just days after suspending the highly controversial Finance Act. The decision follows an uproar of continued overspending from the Kenyan government while the country is in financial distress.
Oil markets calm down after Russia’s coup attempt fails
Oil Markets have calmed down due to the brokerage of the peace deal between rebel Yevgeny Prigozhin, the head of the Wagner group, and President Putin. Prigozhin had led his army of mercenaries to the Russian capital in an attempt to eject President Putin for attacks on his men.
Cameron Winklevoss believes “The great accumulation” of Bitcoin has begun
Cameron Winklevoss, a Gemini co-founder, believes that the great accumulation for BTC is here with different TradFi institutions racing to buy in. His comments come when BlackRock, the world’s largest investment manager, filed for an ETF, prompting its competitors to follow suit.
Technology News
Uber revenue rises, pulling its stock higher than expected
Uber reported its Q1 results on Tuesday, showing higher performance than analysts’ expectations. It has recorded a revenue increase of 29% YoY Uber revenue rises 29% for Q1 2023 YoY Taxify company Uber gained 9% in its shares pre-market trading Tuesday after it...
Samsung employees banned from using generative AI tools
Samsung has issued a company-wide ban against generative AI tools like ChatGPT on all internally owned devices and networks. The company is now among the growing number that detests using AI tools. Battle against AI tools continues Samsung has joined a number of...
E-commerce giant Alibaba to roll out ChatGPT AI competitor
Jack Ma’s Alibaba has announced that it plans to roll out its AI chatbot, Tongyi Qianwen. The company will roll out the chatbot and integrate it with its tech ecosystem in the “near future”.
Gamestop (GME) reports a profit-squeezing shorters
GameStop has released a positive Q4 financial report, shocking many short-sellers as its shares skyrocketed. The company’s stocks had been on almost a free fall over the past few months, but the trend seems to be reversing now.
Podcast
Around the Block With Jefferson Nunn – Interview With Tony Pearce from Reality Gaming Group.
Catch the latest episode of Around the Block With Jefferson Nunn. On this episode, Jefferson interviews Tony Pearce, who is the Co-Founder of Reality Gaming Group, a developer of blockchain games and NFT projects ranging from mobile shooter Reality Clash to Doctor...
Around the Block With Jefferson Nunn – Interview With Gianfranco Lopane from Venvuu.io.
Catch this latest episode of Around the Block With Jefferson Nunn as he interviews G. Lopane of Venvuu.io
Around the Block With Jefferson Nunn – Interview With Elliot Hill from Verasity.io.
Catch this latest episode of Around the Block With Jefferson Nunn as he interviews Elliot Hill, Director of Comms at Verasity.io - a protocol and product layer platform for Esports and video entertainment.
Around the Block With Jefferson Nunn – Interview With John Riley at DTX.AI
Catch this latest episode of Around the Block With Jefferson Nunn, with special guest John Riley, Founder and President of DTX.AI.
Cryptos Q2 assessment; Large part of crypto markets struggles
Cryptorank recently released a report on the crypto market’s performance in Q2 2023. Uncertainty was the theme of this period, with major regulatory and institutional happenings.
Tether USDT issues an additional 1 billion coins on the Tron network
As demand rises, Tether USDT has increased its market value by $2.6 billion. As a result, Tether has minted 1 billion more coins on Tron Network to satisfy the blockchain’s USDT chain swap demands.
Standard Chartered predicts $120K Bitcoin by the end of 2024, days after Hong Kong asked it to go pro-crypto
Standard Chartered has expressed confidence that Bitcoin will soar in price in 2024. It expects the coin to hit $50K in 2023 and $120K in 2024. Its analysis expects miners to hold more of their supply and fewer coins to be available in the market.
Binance CEO Changpeng Zhao believes the next bull run will begin in 2025
Binance CEO Changpeng Zhao delivered his forecast for the market performance during a Twitter Space on July 5, explaining that the next crypto bull run will be seen in 2025.
Hot Stories
Worldcoin to stop paying Orb operators in USDC
Key Points Worldcoin has announced that it will ditch USDC usage in favor of its native coin, WLD. The project has also announced changes to the terms behind WLD loans to Market makers. Worldcoin is set to start paying Orb Operators in WLD, replacing the USDC that had...
European stocks fall as investors track Middle East political atmosphere
Key Points Tension in the European market rises as investors fear further escalation in the Middle East. Pan-European Stoxx 600 index down 0.6% as President Biden tours Tel Aviv European stocks are trading in the red as President Biden visits Tel Aviv. Investors are...
How to Make Money Using AI: A Comprehensive Guide
Introduction Artificial Intelligence (AI) has revolutionized the way we live, work, and do business. It has transformed industries, streamlined processes, and opened up new opportunities for entrepreneurs and businesses alike. One of the most exciting aspects of AI is...
Landmark Marijuana Bill that could hinder regulators from freezing bank accounts of businesses they dont like heads to the Senate.
Key Points A landmark Marijuana bill is headed to the US Senate seeking to challenge regulators who order the closure of bank accounts of businesses they don’t like. The bill seeks to protect legal businesses from being forced to deal with reduced banking options...
MicroStrategy acquires an additional 5,445 BTC, taking total holdings to 158,245 BTC
Key Points Michael Saylor’s MicroStrategy has acquired an additional 5,445 BTC at an average price of $27,053 per Bitcoin. The company now holds 158,245 BTC worth over $4.68 billion purchased at an average price of $29,582 per bitcoin. MicroStrategy has continued with...
What to Know Before Investing in Cryptocurrencies
IntroductionWhat You Should Know When Investing in CryptocurrenciesConclusion Introduction Cryptocurrencies have taken the financial world by storm, attracting investors from all walks of life. The allure of high returns and the promise of revolutionizing traditional...