Kraken is laying off 1,100 of its employees, the company said in a blog post Wednesday. The news comes at a difficult time for the industry, as bankruptcies mount and crypto prices languish. A Kraken spokesperson told Insider that the company had “no material exposure” to FTX. Loading Something is loading. Thanks for signing up!… Continue reading Kraken, the 3rd-largest digital assets exchange, is laying off 30% of its staff as crypto winter deepens
Crypto exchange Kraken will pay more than $360,000 to settle allegations it violated US sanctions by serving users in Iran
Crypto exchange Kraken will pay $362,000 to settle allegations it violated US sanctions againts Iran. The Treasury said Kraken processed transactions valued at $1.68 million on behalf of users who appeared to have been located in Iran. The exportation of services and goods to Iran is prohibited under sanctions imposed in 1979. Loading Something is… Continue reading Crypto exchange Kraken will pay more than $360,000 to settle allegations it violated US sanctions by serving users in Iran
Dow sinks 500 points as China protests and hawkish Fed comments rattle markets
Jennifer Sor Protesters shout slogans during a protest against Chinas strict zero COVID measures on November 28, 2022 in Beijing, China. Kevin Frayer/Getty Images Stocks sank on Monday as protestors in China and hawkish comments from Fed officials weighed on the market. Unrest over China’s zero-COVID policy could exacerbate supply-chain issues, which are partly responsible… Continue reading Dow sinks 500 points as China protests and hawkish Fed comments rattle markets
The stock market will fall 25% when the looming US recession hits in mid-2023, Deutsche Bank says
Major stock markets will plunge 25% when a looming recession hits next year, Deutsche Bank says. Analysts also see earnings per share among S&P 500 companies falling to $195 in 2023 from $222 in 2022. After the Fed’s rate hikes, the investment bank expects markets to recover by year-end 2023. Loading Something is loading. Thanks… Continue reading The stock market will fall 25% when the looming US recession hits in mid-2023, Deutsche Bank says
FTX’s collapse shows that lawmakers need to learn more about crypto to properly regulate it, according to a Republican lawmaker who’s pushing a bipartisan digital assets bill
FTX’s collapse underscores the need for US lawmakers to learn about crypto and widen regulation, Senator Cynthia Lummis says. Lummis introduced a bipartisan crypto bill with Democratic Senator Kirsten Gillibrand in June. The Wyoming senator holds bitcoin in a blind trust. Loading Something is loading. Thanks for signing up! Access your favorite topics in a… Continue reading FTX’s collapse shows that lawmakers need to learn more about crypto to properly regulate it, according to a Republican lawmaker who’s pushing a bipartisan digital assets bill
Russian oil is now 20% below the proposed price cap as EU nations remain split in talks
Russia’s Urals crude oil fell to $51.96 per barrel at the Primorsk Baltic Sea port. That’s 20% lower than the European Union’s proposed price cap of $65 per barrel, though some nations want it lower. EU member countries are resuming talks on Monday over the Russia oil price cap. Loading Something is loading. Thanks for… Continue reading Russian oil is now 20% below the proposed price cap as EU nations remain split in talks
The stock market in 2023 will have less pain but no gains as companies see anemic earnings growth, Goldman Sachs says
Poor earnings growth will stretch into 2023, meaning investors should prepare for a year with no gains, Goldman Sachs said. That’s because high interest rates will continue to weigh on corporate earnings well into next year. If the economy sees a soft landing, earnings will be flat and the S&P 500 will decline 2% in… Continue reading The stock market in 2023 will have less pain but no gains as companies see anemic earnings growth, Goldman Sachs says
The stock market has another 8% to climb in 2022 as a resilient economy will buck expectations for either a hard or a soft landing, veteran strategist Ed Yardeni says
The stock market could surge another 8% before year-end as the economy proves resilient, according to Ed Yardeni.Yardeni said strong consumers could prevent the economy from experiencing any “landing” at all.”The consumer just didn’t get the recession memo and they keep spending,” Yardeni said. Loading Something is loading. Thanks for signing up! Access your favorite… Continue reading The stock market has another 8% to climb in 2022 as a resilient economy will buck expectations for either a hard or a soft landing, veteran strategist Ed Yardeni says
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