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BlackRock doubles down on tokenization via investment in Securitize
The world’s largest asset manager led a $47 million funding round by a blockchain-focused firm it has worked with before. Read more
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Tether sees record net profit of over $4.5 billion in first quarter of 2024
Tether’s attestation for the first quarter of 2024 revealed the firm made a net profit of $4.52 billion, saw its highest-ever percentage ownership of Treasury bills and had total net equity exceeding $11.3 billion. Read more
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Binance founder sentenced
Changpeng Zhao, the founder of Binance, the world’s largest cryptocurrency exchange, was sentenced to four months in prison by U.S. District Judge Richard Jones in Seattle. Read more
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The stock market has a ‘systemic problem’
Even as earnings for the first quarter come in better than expected, the market has struggled to climb higher consistently as rising Treasury yields weigh on sentiment for equities, reminding investors of the period in 2023 when higher yields sent stocks crashing. Read more
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Google surpasses $2 trillion market cap
Google’s parent company, Alphabet, has recently surpassed a $2 trillion market capitalization, marking a significant milestone in its financial performance. Read more
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How decentralized payments are a gateway to economic development
Developing countries lead in Web3 payments, revolutionizing financial inclusion and economic resilience. Read more
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AI-powered DeFi platform secures $10M investment with upcoming DAO
Supported by significant investment, this innovative DeFi ecosystem integrates advanced AI technologies and decentralized governance to offer secure trading and protection. Read more
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Short sellers pocket record weekly profit from Big Tech selloff
Traders who bet against the “Magnificent 7” group of big U.S. tech stocks booked their biggest-ever weekly profit of more than $10 billion last week, with the biggest gains coming from their short position in shares of Nvidia and Tesla. Read more
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High Inflation Has Pushed Rates in the U.S. Up
A stronger dollar makes U.S. exporters less competitive. It makes profits generated overseas less valuable when converted back into dollars. It makes dollar-denominated debt more burdensome for foreign borrowers. Read more
