Binance is highly unlikely to move forward with its proposed buyout of FTX, Coindesk reported Wednesday. Binance reconsidering the rescue deal after reviewing FTX’s internal data and loan commitments, the report said. Binance CEO Changpeng Zhao said Tuesday FTX asked for help amid a ”significant liquidity crunch”. Loading Something is loading. Thanks for signing up!… Continue reading Binance is reconsidering its takeover of FTX after due diligence of the failed crypto exchange, report says
Binance CEO says takeover of rival FTX is not a ‘win for us’ and shares 2 big lessons for crypto industry
Changpeng Zhao doesn’t view the takeover of FTX as a “win for us,” according to a memo to Binance employees. “Regulators will scrutinise exchanges even more. Licenses around the globe will be harder to get,” he said. The Binance CEO also shared on Twitter his takeaways for the crypto industry. Loading Something is loading. Thanks… Continue reading Binance CEO says takeover of rival FTX is not a ‘win for us’ and shares 2 big lessons for crypto industry
US voters flagged inflation as a major concern in the midterm elections. Here’s why soaring prices are darkening America’s economic outlook.
Inflation was a top concern for many US midterm voters, the AP Votecast Survey found. Rising prices have darkened the outlook for growth, jobs, asset prices, and household finances. Inflation and rate hikes are squeezing US consumers, and could plunge the economy into recession. Loading Something is loading. Thanks for signing up! Access your favorite… Continue reading US voters flagged inflation as a major concern in the midterm elections. Here’s why soaring prices are darkening America’s economic outlook.
The Fed’s jumbo-sized rate hikes will uncover more ‘skeletons in the closet’ for crypto after FTX’s rescue, economist says
Rising interest rates will cause further casualties in the crypto space, according to the Peterson Institute’s Martin Chorzempa. FTX announced Tuesday it agreed to be taken over by rival exchange Binance, shocking investors. “We can expect a lot more problems to come,” Chorzempa told CNBC. Loading Something is loading. Thanks for signing up! Access your… Continue reading The Fed’s jumbo-sized rate hikes will uncover more ‘skeletons in the closet’ for crypto after FTX’s rescue, economist says
Trump-linked SPAC slides 21% as some candidates endorsed by the former president flounder in midterm elections
Digital World, the SPAC linked to Donald Trump, fell Wednesday in the wake of the 2022 mid-term elections. A number of Republican candidates backed by Trump lost their bids or were trailing in their races against Democrats. Control of Congress was still up in the air after tight races around the country. Loading Something is… Continue reading Trump-linked SPAC slides 21% as some candidates endorsed by the former president flounder in midterm elections
Smart money watch: Big hedge funds shop for bargains in corporate debt markets
‘We are seeing some of the most lucrative investing opportunities in structured credit since the COVID-19 crisis’ Author of the article: Financial Times Laurence Fletcher in London Daniel Loeb, billionaire and chief executive officer of Third Point LLC. Photo by Simon Dawson/Bloomberg files Big-name hedge funds are snapping up bargains in junk bonds and other… Continue reading Smart money watch: Big hedge funds shop for bargains in corporate debt markets
Peter Hall: Why so many forecasters were dead wrong on inflation
Lessons learned might be helpful in unwinding of ultra-low interest rates The world is still in shock over inflation’s rise, writes Peter Hall. Photo by Darryl Dyck/The Canadian Press Is forecasting a lost art? Prominent pundits go further than this, suggesting it’s a lost science, that the models are broken. Expressions like, “It’s different this… Continue reading Peter Hall: Why so many forecasters were dead wrong on inflation
William Watson: Chrystia Freeland blows her fiscal windfall on wine and cheese
Medieval may be in vogue these days but why we have a national policy to promote the drinking of mead is a head-scratcher Finance Minister Chrystia Freeland. Photo by Blair Gable/Reuters The part of the federal government’s fall fiscal update I liked best — apart from the bits about mead and cider (more on that… Continue reading William Watson: Chrystia Freeland blows her fiscal windfall on wine and cheese
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