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Cryptocurrency exchange Coinbase won’t escape from the profitability challenges it will face from the crypto market downturn, despite having a strong brand and credibility in the crypto market, according to investment analysts.Credit rating firm Moody’s released a note on Coinbase on Jan. 19 discussing its downgrade of Coinbase’s senior debt
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Central banks worldwide are pushing forward with digital asset projects despite the various crypto industry implosions over the past 12 months. China has rolled out its central bank digital currency (CBDC) to several cities, and it was available for use at the Winter Olympics. Many other central banks, including the Bank
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Bitcoiner and podcaster Peter McCormack should pay Craig Wright, the Australian scientist who claims to be Bitcoin inventor Satoshi Nakamoto, around 900,000 British pounds (US$1.1 million) in costs following their legal battle, U.K. High Court Judge Martin Chamberlain has ruled. Source
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FedEx said it is important to cut fiscal 2023 costs to align with weaker-than-expected volume.American transport company FedEx (NYSE: FDX) plans to cut more costs as lower demand continues to affect the company’s profits. FedEx said it would cut $1 billion more in cost as weak demand hurt its quarterly
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Although Li Auto realized a substantial revenue increase for Q3 2022, the company’s operating costs also rose. Li Auto Inc (NASDAQ: LI) recently posted its Q3 2022 earnings report, which revealed a wide quarterly deficit despite a 20% increase in revenue. For the third quarter, the Chinese electric vehicle manufacturer raked
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Only crypto companies with a BitLicense – a special business license granted by NYDFS that allows firms to business in New York – will be subject to the assessments. Just 22 companies currently hold a BitLicense, which is notoriously difficult to obtain, and only three have been issued this year. Source
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Wright, the self-proclaimed inventor of Bitcoin, was granted permission to serve papers on Cobra as he sought a declaration of his ownership of the copyright to the Bitcoin white paper. Source
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"We are very happy to be producing over 300 Bitcoin per month, which is about 1% of the global network, even when network difficulty is at an all-time high. We have sold all our Ethereum holdings. In October we produced an average of 9.9 Bitcoin per day," Executive Chairman Frank
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The machines are owned owned by special purpose vehicles that aren't guaranteed by the parent company. Source
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The U.S. central bank’s key inflation gauge, the personal consumption expenditures (PCE) price index, increased by 0.5% in September, according to data released by the U.S. Commerce Department on Oct. 28. Meanwhile, markets expect with near-certainty that the Federal Reserve will codify its fourth consecutive rate hike by 75 basis
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