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Bitcoin (BTC) mining difficulty hits all-time high

Bitcoin (BTC) mining difficulty hit an all-time high of 9.06 trillion A further increase of 10% is expected later this month The hash rate reached 58.67 in July Bitcoin mining difficulty hit an all-time high of 9.06 trillion (9.06 T) this month, at an average hash rate of 64.85 EH/s, signalling a high level of participating mining power…

Why is Trump so opposed to cryptocurrencies?

Trump blasted cryptocurrencies yesterday, saying they are not real money He also criticised Facebook’s Libra crypto project Other global finance leaders have also opposed the budding currencies Yesterday, US President Donald Trump criticised cryptocurrencies, singling out Facebook Inc.’s Libra project. He said that the US dollar should be the only real currency in the United States given its…

Swiss Re postpones £3.3 billion IPO due to “weak underlying demand” from investors

ReAssure flotation on London Stock Exchange pulled on the day it was due to start trading Investors unsettled by valuation, uncertainty over Brexit and recent subdued listings from Aston Martin and Funding Circle Swiss Re CEO says company not prepared to divest shares at the price it considers “unrepresentative” of ReAssure’s value Swiss Re postponed plans for a…

Tanker war flares up – gunboat diplomacy fuels oil price rises

Military vessels and personnel involved in Mediterranean and Gulf Continued confrontation highlights divisions within Iranian regime Iran and UK referring to ‘international law’ but taking a more hands-on approach Comes hot on heels of Iran breaching terms of nuclear deal Iranian boats have on 10thJuly attempted to intercept the British oil tanker, British Heritage. Royal Navy frigate, HMS…

Binance launches margin trading

The updated trading platform on Binance allows margin trading A newly optimised interface, including an improved trading engine, was also unveiled Fees are 0.02%, except for the exchange’s native BNB coin, which has a fee of 0.01% Leveraged trading is a popular tool in the conventional markets that allows traders to borrow funds from the broker for trading…

Coinbase exploring options to launch its own insurance company

The San Francisco-based exchange is in talks with Aon to establish its own insurance company The captive insurance method appears to be the most likely option Aon has a history of collaborations with crypto companies $255m worth of Coinbase’s digital assets are already insured by Aon Coinbase, one of the world’s largest cryptocurrency exchanges, is currently in talks…

Powell speaks – the dollar softens

Fed chairman Powell’s first day of testimony has dovish undertones USD weakens across Forex markets USD/CHF drops below 0.9900 USD and CHF face geo-political concerns, but once again interest rate news is overpowering The notes from the US Fed’s June meeting hinted at further interest rate cuts, and Federal Reserve chair Jerome Powell spoke on 10thJuly to reconfirm…

Levi Strauss (NYSE:LEVI) shares down after IPO costs hit Q2 earnings

San Francisco-headquartered company posts $0.07 GAAP EPS and $1.31B revenue Margin worries, IPO costs and slower U.S wholesale sales concern investors but analysts remain relatively bullish Shares valued at $20.86, now in negative territory since first listing on March 22 Levi Strauss (NYSE:LEVI) shares tumbled 12.1% on Wednesday after the company missed on both earnings and revenue as…

Bitcoin – cryptocurrency reclaims $13,000 mark and carries on up

Bitcoin (BTC) surpasses $13,000 mark The cryptocurrency had been slipping away since a four month high posted on 26thJune Continued speculation that broadening appeal will support recent price moves Upwards appears the path of least resistance Bitcoin has moved through the important $13,000 barrier and remains trading at higher levels. The TradingView technicals are pointing towards ‘buy’ and…

Why are crypto critics suddenly turning into fans?

Mark Mobius is the latest one-time critic to consider buying cryptocurrency Banks such as J.P. Morgan and Goldman Sachs are also working on crypto and blockchain projects Bitcoin (BTC) and the blockchain technology have proven their value over time and cemented their position within the global financial system Many former crypto cynics are slowly coming around in light…

Facebook (NASDAQ:FB) confirms that it will not store users’ personal data on its Libra platform

Facebook Inc. (NASDAQ:FB) recently responded to concerns raised by lawmakers ahead of its upcoming hearings The company reassured lawmakers that it will not store users’ personal financial data collected via its Libra blockchain platform The social media giant further addressed previous privacy concerns about the site from several months ago Facebook recently reassured lawmakers that it will not…

Tech stocks – valuations brought into question by well regarded analyst

Tech sector valuations called into question by top analyst Tono Sacconaghi Share price, as a multiple of future earnings, reaches new highs Nasdaq has spent a week trading sideways Tono Sacconaghi, a highly regarded analyst at AB Bernstein, has warned that stocks in the tech sector are becoming overvalued. Interviewed by CNBC on 9thJuly, he pointed to the…

PepsiCo (NASDAQ:PEP) reaffirms FY2019 guidance after Q2 earnings beat

The food, snack and beverage company posts $1.54 EPS and $16.45B revenue Organic revenue up 4.5%, Frito-Lay North American segment delivers $4.01B returns on strong snack sales PEP shares rise in Tuesday’s premarket, have advanced 20% year-to-date PepsiCo (NASDAQ:PEP) said it has “increased confidence” in its ability to meet financial targets for the fiscal year after posting in-line…

Forex – Emerging market currency pairs come into focus

US Fed and ECB policies underpin recent moves in emerging market forex markets Currencies of smaller nations have also reacted to geo-political and fundamental economic data announcements Mature stage of global economic cycle working against EM FX Reuters’ poll of 5thJuly finds analysts think EM FX has already seen its 2019 peak Last week saw major news events…

High-frequency trading is taking over the crypto industry

Some crypto exchanges are now offering their clients colocation services suitable for high-frequency trading (HFT) HFT has a storied history within the traditional financial markets, and this may spill over into the crypto markets Some high-frequency traders are making over 800,000 trades per day using trading bots Many people are familiar with the term high-frequency trading from the…