Author: Steven Sahiounie

The petition alleged that CoinEx listed various tokens and services that qualify as securities and/or commodities under state law. The New York State Attorney General’s office filed suit against crypto exchange CoinEx on Wednesday, arguing it is an unregistered securities broker and commodity broker-dealer under state law. CoinEx did not register as an exchange with the U.S. Securities and Exchange Commission (SEC), as a commodities broker-dealer with the Commodity Futures Trading Commission or with New York regulators prior to offering services in the state, the complaint said. Despite this, the company said it was an exchange on its website and…

Amid the rubble of FTX and other centralized exchanges, cross-chain technology and on-chain trading offer more trustworthy alternatives, writes Simon Harman of Chainflip. A trend few have paid much attention to is the changing shape of the crypto industry’s spot markets — more specifically in the cross-chain space. What started on Ethereum is spreading as technology advances. In 2020, Uniswap exploded (in a good way) and took billions in daily volume away from centralized exchanges, to the point where much of the price discovery for many ERC-20 tokens now occurs on-chain. If the trend of the last two years is…

More interest rate hikes are coming from the US Federal Reserve. At least, that was the takeaway from the recently released minutes of the 1st of February meeting of the Federal Open Market Committee (FOMC) earlier this Wednesday. This could be a major medium-term headwind for crypto. The FOMC, comprised of an assortment of Federal Reserve Governors and regional Fed Presidents, raised interest rates 25 bps to a 4.50-4.75% target range at their meeting earlier this month. That was a slowdown following a 50 bps rate hike at the last meeting of 2022, which was proceeded by four consecutive 75 bps rate…

As per latest crypto news related to HBAR, Hedera is now home to products that leverage artificial intelligence for the Web3 space. HBAR Crypto News: Hedera (HBAR) is making significant progress despite the fact that the broader cryptocurrency market is experiencing a roller coaster of ride. The network’s performance has been able to distinguish it from the rest of the crypto space, and this distinction has attracted the interest of the crypto community and developers alike. Hedera’s Growing Ecosystem With new products being launched on the network, the latest entry from Unthink.AI allows the Hashgraph-powered layer one solution to leave a mark in the…

Nigerians head to the polls on Saturday, with an unprecedented youth turnout expected against a backdrop of widespread insecurity and economic hardship. After 24 years of uninterrupted democracy since ending military dictatorship in 1999, Africa’s most populous nation and largest economy is conducting its seventh election. Nigeria is at a pivotal juncture amid record unemployment and inflation, a massive debt burden, fuel shortages, worsening security conditions, endemic corruption and crumbling public services. The record 93.5 million Nigerians registered to vote will choose among 18 candidates to replace President Muhammadu Buhari, who has reached the two-term limit. The aspiring successor chosen by the…

President Joe Biden has a well-documented history of exaggerating his accomplishments while downplaying his failures. But in recent months, the president has taken this dishonest strategy to a whole new level, routinely misleading the American people to score political points, especially on topics related to economic growth. The following are four of Biden’s biggest lies about the economy, as well as the data you need to prove to friends and family that the White House has not been nearly as successful as it has been claiming. Lie 1: America’s inflation problem is improving. When Biden entered the White House in January 2021, inflation…

The growth comes despite increasing US pressure on Abu Dhabi to curb trade with Moscow. Russia’s trade turnover with the United Arab Emirates is expanding rapidly and reached all-time highs last year, Russian Deputy Prime Minister Denis Manturov, who serves as trade and industry minister, announced on Monday. Economic cooperation has grown despite Western sanctions against Moscow, with trade turnover surging by 68% to $9 billion in 2022, the minister told reporters on the sidelines of the international defense exhibition IDEX 2023 in Abu Dhabi. “The partnership between our countries is on the rise, and this positive trend…

French utilities company Engie announced on Tuesday it has initiated an arbitration procedure against Russia’s Gazprom over its non-compliance with gas delivery obligations. The Paris-based firm said it wanted payment of contractual penalties as well as compensation for damages resulting from the supply halt. Gazprom said it stopped natural gas deliveries in August after the French side failed to pay for July deliveries in full. “This arbitration procedure is due to the significant delivery shortages by Gazprom Export LLC to Engie as of mid-June 2022, followed by Gazprom Export LLC’s unilateral decision at the end of summer 2022 to reduce…

US stock markets suffered extended losses on Tuesday, as investors brace for further key interest rate hikes by the Federal Reserve, following the most recent data on inflation and an unfavorable retail outlook. According to trading data, the Dow Jones Industrial Average closed nearly 700 points down at 33,129, dropping 2.06% in its worst downturn since December 15. The S&P 500 fell 2%, also its biggest decline since December 15, to close at 3,997. All indices ended lower, while consumer discretionary stocks suffered the steepest drop, 3.3%. The Nasdaq Composite fell by 2.50% to 11,492. While US stocks initially rallied…

This report is from today’s CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe here. The Fed wants to bring inflation down to 2%. But the economy may be fine with higher inflation. What you need to know today The bottom line The 2% inflation target has been repeated so often by Fed officials and central bankers worldwide that it seems absolutely crucial to a healthy economy. But “the 2% inflation target, it’s relatively arbitrary,” said…