The decentralized finance (DeFi) sector faced its first real challenge during last week’s market sell-off that saw more than $1 trillion wiped from the global cryptocurrency market cap as traders feverishly ran for the safety of stablecoins amid tumbling prices. Despite rapidly declining token prices, the nascent DeFi sector held its own as decentralized exchanges
Reach, a blockchain development platform for decentralized applications, has raised $12 million from investors to further its goals of simplifying the DApp creation process, the company announced on May 26. The latest funding round takes the total sum raised by Reach to $48 million, as the firm aims to produce a javascript-like programming language for
Municipals saw one to three basis point bumps to benchmark yield curves while new issues repriced by as much as 10 basis points lower into a stronger, issuer-friendly market, as the 10-year fell below 1% on most scales. The Investment Company Institute reported $1.27 billion of inflows into municipal bond mutual funds, marking the 11th
Tesla is set to take the unusual step of paying in advance for chips to secure its supply of the crucial materials and is also exploring buying a plant as part of efforts to overcome the global shortage, according to people familiar with the matter. The US electric-car maker is discussing the proposals to secure
In this article PXD SPCX Noah Kerner, CEO of Acorns. Adam Jeffery | CNBC Savings and investing app Acorns plans to go public by merging with a blank-check company. The fintech start-up announced a deal Thursday to combine with Pioneer Merger Corp., a publicly traded special purpose acquisition company, or SPAC. The merger values Acorns
Take a look at some of the biggest movers in the premarket: Best Buy (BBY) – Best Buy shares jumped 3.8% in the premarket after the electronics retailer reported quarterly earnings of $2.23 per share, which beat the consensus estimate of $1.39 a share. Revenue and comparable-store sales also exceeded Wall Street forecasts and Best
Real estate financing startup Homeward completed a $371 Million Series B round that values the three-year-old business at more than $800 million. The round, which included $136 million of equity funding and $235 million in debt financing, comes as continued demand for housing has led to a boom in all-cash offers. Similar to i-buying firm
If you are suffering from post-pandemic sticker shock, you are not alone. From gas and groceries to computers and clothing, everyday items are suddenly more expensive. As the country recovers in the wake of the coronavirus outbreak and Americans put their stimulus checks and stashed cash to work, some of these higher costs are simply the price consumers
Despite recent large monthly gains, Fitch Ratings said it will take the U.S. job market another 18 months to create the 7 million jobs needed to recover from the economic shocks wrought by the pandemic. Fitch doesn’t expect the U.S. labor market to return to full employment, which it estimates at 4.3%, until the fourth
Pintu, an Indonesia-based cryptocurrency exchange focusing on first-time crypto users, has raised $6 million to support its mission to drive industry adoption. The company announced Tuesday that it has completed a Series A funding round led by major global crypto investors including Pantera Capital, Coinbase Ventures, and Intudo Ventures, tech news agency Tech in Asia
The recent extreme volatility in the cryptocurrency market following Bitcoin’s (BTC) dip to $30,000 and the recovery to $38,000 has traders confused about whether the current price action is a ‘dead cat bounce’ which will see token prices head lower or a solid reversal that will set the floor for the next leg higher for
U.S. central bank officials may be able to begin discussing the appropriate timing of scaling back their bond-buying program at upcoming policy meetings, Federal Reserve Vice Chair Richard Clarida said. “It may well be” that “in upcoming meetings, we’ll be at the point where we can begin discuss scaling back the pace of asset purchases,”
The EU has demanded damages potentially amounting to billions of euros from AstraZeneca if the company fails to increase deliveries of its Covid-19 vaccine by next month. The EU wants the company to pay penalties of €10 a dose a day if it does not supply 20m extra shots the European bloc wants by the
NASA astronaut Peggy Whitson working onboard the International Space Station in August 2017. Jack Fischer / NASA Axiom Space on Tuesday announced that retired NASA astronaut Peggy Whitson and auto racer John Shoffner will lead the company’s second private spaceflight to the International Space Station, tentatively scheduled for the second half of 2022. The pair
Stock market krisanapong detraphiphat | Moment | Getty Images Do you believe you are, or can be, a successful day trader, buying and selling stocks on a regular basis? Do you believe that you, or anyone you know, can successfully time the market, going in and out of the market, and consistently make profits?
Take a look at some of the biggest movers in the premarket: Dick’s Sporting Goods (DKS) – The sporting goods retailer earned $3.41 per share for the first quarter, more than tripling the $1.12 consensus estimate. Revenue also beat forecasts amid comparable sales that more than doubled. Dick’s also gave a full-year outlook that exceeds
Singapore aims to grow by 7-8% by 2030. This figure would represent moderate growth if it referred to the country’s GDP; however, it is referring to the physical country itself. We may not realize it, but many of us live and work in neighborhoods located on former rivers, bays, and oceans that were reclaimed and
A slight increase in mortgage interest rates was enough to tank refinances and bring down overall demand. Total mortgage application volume fell 4.2% last week from the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($548,250 or less) increased
Two Companies with Strong Balance Sheets.
Municipals improved Tuesday on the backs of a strong primary led by the Washington Metropolitan Area Transit Authority’s $788 million green bonds and gilt-edged Loudoun County, Virginia, and the New Jersey Infrastructure Bank, which sold competitively with tight spreads. Triple-A municipal benchmark yield curves were bumped one to two basis points, lagging a four basis