Goldman Sachs has offered its first Bitcoin-backed loan, in a major step forward for institutional cryptocurrency adoption on Wall St. A spokeswoman from Goldman told Bloomberg that the multinational investment bank had lent cash collateralized by Bitcoin (BTC) owned by the borrower for the first time in Goldman Sachs’ history. She added that the deal
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Senate Banking Committee Chairman Sherrod Brown said Wednesday that the Senate would wait to confirm President Biden’s Federal Reserve picks until the return of Democrats recovering from the coronavirus. Brown, an Ohio Democrat, blocked votes this week on a second term for Jerome Powell as chair of the Federal Reserve and the nomination of Philip
European energy companies that comply with Moscow’s requirement to open a rouble-based account with Gazprombank would be violating sanctions against Russia, EU officials have warned. Several European companies have indicated they will comply with the March 31 decree by president Vladimir Putin to introduce a two-tiered payment system. The system involves paying in euros or
Oklahoma is poised to follow in the footsteps of Texas in preventing banks from participating in municipal bond deals if they “discriminate” against the firearm industry or “boycott” fossil fuel energy companies with two bills nearing final legislative approval this week. On the gun front, House Bill 3144, which passed the state Senate in a
A trader works on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., December 3, 2021. Brendan McDermid | Reuters (Click here to subscribe to the Delivering Alpha newsletter.) The hedge fund industry attracted its largest inflows in seven years during the first quarter as investors sought downside protection amidst a volatility
In this article TDOC LVS TMUS MAT PINS PYPL QCOM F FB Woman holds smartphone with Meta logo in front of a displayed Facebook’s new rebrand logo Meta in this illustration picture taken October 28, 2021. Dado Ruvic | Reuters Check out the companies making headlines after the bell: Meta Platforms — Meta Platforms’ stock
Continuing a recent trend for high-end properties in Dubai, a luxury residence in Jumeirah Bay Island has closed for a record-breaking number, this time for highest recorded residential price per square foot. Located in the renowned Bulgari Resort and Residences development, the three-bedroom unit sold for AED 40 million (roughly US $10.9 million), according to
Stifled by strict Covid restrictions in Hong Kong, residents from the financial hub are continuing to move to its rival, Singapore. Roslan Rahman | AFP | Getty Images SINGAPORE — After eight years in Hong Kong, Jonathan Benarr is giving up that city for a new set of attractions — in Singapore. “Hong Kong was
Deutsche Bank’s economists have warned that the U.S. will suffer a major recession next year. However, several other major investment banks, including Goldman Sachs and JPMorgan, are less pessimistic about the future outlook for the U.S. economy. Major US Recession Incoming, According to Deutsche Bank’s Economists Deutsche Bank has predicted a deeper downturn than its
Chicago is counting on future casino tax revenue to avoid reverting to bad fiscal practices or raising property taxes as it seeks to structurally balance its books, the city’s chief financial officer warned City Council members at a hearing this week. Mayor Lori Lightfoot’s administration last month narrowed a list of five casino development
European gas prices rose by a fifth on Wednesday after Russia’s Gazprom suspended supplies to Poland and Bulgaria, saying the countries had failed to make rouble payments that were due a day earlier. Futures contracts tracking Europe’s wholesale gas price advanced about 20 per cent at €117 per megawatt hour in early trading. Prices are almost seven
The cryptocurrency market and wider global financial markets fell under pressure on April 26 after the hype surrounding Elon Musk’s purchase of Twitter began to fade and concerns about the state of the global economy took the forefront again. Tech-related stocks were some of the hardest-hit assets on April 26 and this pullback was followed by
The Puerto Rico Oversight Board rejected several local government initiatives, including the governor’s proposed fiscal 2023 budget. The board sent a letter on Friday to Gov. Pedro Pierluisi rejecting the budget he submitted on March 16, and two separate letters to Juan Zaragoza Gómez, Senate Finance Committee president, rejecting three Senate bills relating to firefighters
A trader works on the floor of the New York Stock Exchange (NYSE) in New York, April 14, 2022. Brendan McDermid | Reuters Nasdaq 100 futures fell on Tuesday night after the major averages continued their April sell-off amid concerns of an economic slowdown. Dow Jones Industrial Average futures fell 18 points, or 0.1%. S&P
Liquid staking has grown in popularity over the past year thanks in part to the launch of the Ethereum beacon chain and the inability of ETH stakers to withdraw their tokens until the full launch of the consensus layer. As a result, Lido (LDO) has established itself as a leader in the liquid staking sector. Lido is
Topline The housing market has taken off this year as home prices continue to surge amid high inflation and ongoing supply chain issues, but some experts say prices could soon level out as mortgage rates rise and demand drops. Key Facts With the Federal Reserve gearing up to reduce its portfolio of roughly $5 trillion
Donald Trump, president and chief executive of Trump Organization Inc. and 2016 Republican presidential candidate, left, awards a $100,000 check to a veterans charity during a campaign event at the Orpheum Theater in Sioux City, Iowa, U.S., on Sunday, Jan. 31, 2016. Luke Sharrett | Bloomberg | Getty Images The check is due now, Mr.
The Government Employees Retirement System of the Virgin Islands is preparing a lawsuit against the financially struggling Water and Power Authority for about $7.7 million in past due money. At issue are past due employees’ and employer’s contributions and employees’ loans as well interest on these sums. WAPA has failed to forward the employee and
Twitter’s board has accepted a roughly $44bn offer to sell the company to Elon Musk, handing control of the influential social media platform to the world’s richest man. Announcing the deal, Musk said “free speech is the bedrock of a functioning democracy” and described the social media platform as “the digital town square where matters
Municipals were steady to firmer in spots Monday but underperformed U.S. Treasuries that saw yields fall further while equities ended in the black led by tech stocks. Triple-A yield curves saw one to two basis point bumps while UST ended the session four to nine better after falling double-digits earlier in the day. Muni-UST ratios