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According to a report from South Korea, the Korean subsidiary of Huobi Global is planning to cut ties with the parent company. The management of the trading platform stated that they plan to “strengthen its position” as a domestic cryptocurrency exchange and change its name. Huobi Experiences Significant Withdrawals as Subsidiary
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The price reductions became necessitated when Tesla recorded a very low delivery count in December last year, the lowest in more than 5 months.American multinational electric vehicle maker, Tesla Inc (NASDAQ: TSLA) has cut the price of its flagship Model 3 and Model Y cars in China. As reported by
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The FTX debacle has triggered a bank run on Silvergate, causing the company to sell off its assets at a loss and cut staff by 40% to cover $8.1 billion worth of customer withdrawals.According to a report published by the Wall Street Journal, the bank liquidated debt that it was
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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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Bitcoin (BTC) and other bulls will not benefit from a major change in United States inflation policy in 2023, one analyst says.In a Twitter thread on Dec. 20, Jim Bianco, head of institutional research firm Bianco Research, said that the United State Federal Reserve would not “pivot” on rate hikes next
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Adam Back did not comment on the exact size of the offering and who the top backers are this time. However, he made it clear that the funds will be used to expand the company’s mining capabilities.Blockchain technology firm Blockstream has recorded a significant valuation drop in its latest funding
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The move will help the state’s grid operator, Electric Reliability Council of Texas (ERCOT), ease worries that the mining will put extra stress during periods of high system demand. “Due to the anticipated interconnection of an increasing number of large flexible Loads in the ERCOT Region, ERCOT is establishing an
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Led by analyst Manan Gosalia, the team from the Wall Street bank downgraded its rating on Silvergate's shares to underweight from equal weight, but kept its price target at $24. The stock was lower by 3% to $25.69 in premarket trading, adding to a decline of more than 50% since
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The crypto exchange is cutting 30% of its global staff. ALSO: Bitcoin surges along with equity markets on the Federal Reserve Chair’s dovish tone in a speech Wednesday. Crypto Markets Today is CryptoX’s daily newsletter diving into what happened in today's crypto markets. Source
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Tesla boss Elon Musk opines that the Fed’s attempts to stem inflation may inadvertently induce a full-blown recession.Elon Musk believes that the Federal Reserve must cut interest rates immediately or risk incurring a severe recession. The outspoken Tesla CEO made his opinion known in an early tweet Wednesday, which read:“Trend is concerning. Fed needs to
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