The 10-year Treasury yield has surged to almost 3% as a side product of the Federal Reserve’s (Fed) battle against inflation. Reduction of the Fed’s balance sheet doesn’t bode well for riskier sectors but actually improves the defensive sector’s returns. The exchange-traded fund (ETF), Utilities Select Sector SPDR (NYSEArca: XLU) is up 6.3% compared to the S&P 500 which is down 7.8% on the year. Conventional wisdom tells us that higher yields hurt utility stocks since they usually accompany a stronger economy....

As it happens, the market capitalization of Axie Infinity has dropped below $1 billion since October 10, whereas the price of AXS has dropped more than 20% over the last seven days, according to CoinMarketCap data retrieved on October 24. Specifically, AXS’s market cap fell from $1.04 billion on October 10, to $833.35 million at press time, a drop of 20.19% over two weeks. Possible causes of the crash One of the reasons for the recent demise of the popular non-fungible token (NFT) game could be the developers’ announcement that they would unlock more Axie Infinity Shards, as AXS is also known, on October 24 as scheduled....

Meanwhile, Baidu (NASDAQ: BIDU), a Chinese AI and internet company, released on August 30 it’s unaudited financial results for the second quarter of 2022. The firm beat the Street’s expectations by posting revenue of $4.43 billion, a -5% year-on-year decline, beating expectations by $230 million. Similarly, the earnings per share (EPS) were $2.36, beating estimates by $0.79. Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) was $1.05 billion, with the adjusted EBITDA margin at 24%....

According to Cunliffe, it is important to make sure that trading and settlement innovations are as robust as the current system is in the eyes of regulators, Reuters reported on September 28. He added that cash and securities on hand at the moment of a trade’s execution are necessary for instant settlement. It was unclear how blockchain-based platforms and current technology would operate together. Cunliffe told a conference held by financial industry body AFME:...

In a press release, the CBR notes that crypto products remain a risk due to high volatility, pricing issues, limited liquidity, lack of transparency, and unclear regulations. Consequently, managers of stock exchanges have specifically been advised against offering such investment products to unqualified investors. Furthermore, according to the institution, such products are not ideal for individuals without experience in handling digital currencies. Interestingly, the bank excluded Central Bank Digital Currencies that comply with Russian laws....

Crypto markets have topped $300 billion in total market capitalization, which are their highest levels for five and a half months. Since the weekend started, around $18 billion has entered the space as Bitcoin and Ethereum dominated gains. Bitcoin tops $10k By Monday morning trading in Asia, BTC had reached $10,330, its highest price since a brief spike in early June. As predicted by Finbold last week, a big move was due soon....

Through a Twitter post, McGlone noted that the price target is supported by an array of factors like the past Bitcoin trading trends. According to McGlone, Bitcoin has maintained a steady average annual price growth which puts the $100,000 target as a reality. Currently, Bitcoin is trading at $47,940, attempting to break the $50,000 mark. With Bitcoin capped at 21 million coins, McGlone believes that the diminishing supply is another driver for the $100,000 mark....

Speaking to Kitco News, Grummes acknowledged that determining when Bitcoin will hit the price level is a challenge in the current environment. Initially, Grummes had predicted Bitcoin will trade at $100,000 but warned about possible pullbacks along the way. According to Grummes, the market is in a panic at the moment, and once it is over, Bitcoin will rise again. Interestingly, Grummes cited central bank activity as one of the reasons for the possible surge in Bitcoin towards $100,000....

Data acquired and calculated by Finbold indicates that bitcoin’s trading volume of $1.84 trillion in April 2021 is at least 7.4 times higher compared to Apple’s $249.22 billion. Bitcoin’s highest trading volume was $86.67 billion on April 23, while Apple’s was on April 29 at $20.17 billion. Elsewhere, Apple also lags behind bitcoin in the 30-day average trading volume by at least 5.1 times less. Bitcoin trading volume was at $61....

Indeed, the 40-day correlation between the Nasdaq 100 index and the largest cryptocurrency by market capitalization reached an all-time high of 0.6945 on April 8, according to Bloomberg data. Commenting on the results of the analysis, Bloomberg’s Joana Ossinger argued that: Elsewhere, Finbold earlier reported on the trend of Bitcoin’s returns outperforming the world’s major indices average return on investment (ROI). Namely, Bitcoin’s ROI has beaten the S&P 500, Dow Jones Industrials, and Nasdaq indices by 1,645% over the last five years....

Bitcoin proponents maintain that the asset is on the trajectory of becoming the ultimate store of value and a hedge against inflation. Consequently, Bitcoin’s future price prediction is among the most followed topics in the crypto circles, considering that the asset generally influences the entire market. Notably, the market has undergone extended volatility in 2022, resulting in BTC losing its value by almost 70% from it’s all-time high of 2021....

According to the release, the operating income fell by 14% year-on-year (YoY) as the firm faced the “worst start to the year for both stocks and bonds in half a century,” Chairman and CEO Larry Fink said. Meanwhile, the revenue reported was $4.53 billion, a decrease of -6% YoY, primarily driven by the impact of significantly lower markets and dollar appreciation. Similarly, earnings per share totaled $7.36, missing estimates by $0....

On May 5, a senior strategist at BlackRock supported a risk-on investment strategy for markets as published by The Sydney Morning Herald. Ben Powell, the APAC chief investment strategist at BlackRock’s Investment Institute, encouraged investors to increase their investment in equities and reduce the focus on government bond assets. Powell said that the steep falls on equities and stocks markets in March and April had rebalanced portfolio allocations away from equities....

When you’ve joined different groups, it can get annoying whenever you keep getting new notifications for every message received. Hence, knowing how to block these messages from WhatsApp without exiting the group is handy. This post explains why you may want to block messages from a WhatsApp group. Still, we will discuss whether it’s possible to block messages from a WhatsApp group and offer different options to block messages from the group....

ADA’s total number of staking wallets reached 608,391 from 2,561 active pools in early June, marking another milestone for the platform; however, now the platform has confirmed 658,965 staking addresses. In recent times, the proof-of-stake blockchain platform has been at the forefront of plenty of recent developments, such as the Cardano creator Charles Hoskinson announcing that the platform plans to publish a research paper on algorithmic Stablecoins in the coming weeks....

With Cardano’s price now trading at $0.785, it has moved moderately higher by 0.47% in the past 24 hours but has fallen by 11.67% over the previous seven days, with the ninth-largest asset by market capitalization last reaching levels this low in February 2021. Nevertheless, the latest data shows Cardano whale addresses holding 1-10 million ADA have been accumulating their bags over these past five weeks with 196 million more ADA after a 7-month stretch of dumping -1....

Speaking with Kitco News, Celsius Network CEO Alex Mashinsky discussed his ideal strategy in this situation is not to resist the Fed, which implies pulling out of the U.S. stock market. Recently, there has been lots of talk about the correlation between Bitcoin, the crypto market, and tech stocks. Mashinsky agrees but now says that it’s time for a separation between the two. Mashinsky believes crypto will do well in a recession Having predicted that there would be a recession next year, Mashinsky has sold his stocks, yet he remains bullish on Bitcoin and the cryptocurrency markets....

Meanwhile, speaking with Kitco news, Tom Palmer, president and CEO of Newmont, the world’s largest gold miner, concluded that the euphoria around investment has diminished more or less. Additionally, a perfect storm seems to be brewing, pushing gold prices much higher than when the war in Ukraine started. He also added: Gold demand will come from the new floor Current macroeconomic developments favor gold having a new floor, which will help gold mining companies run their business in the long run for the benefit of the shareholders and employees....

The Commonwealth Bank of Australia (CBA) has said that it would welcome a clear legal framework for cryptocurrency, which is currently not officially regulated in Australia. To compete with fintech businesses, CBA said on Wednesday, November 3, that it would be the first mainstream bank in the industrialized world to provide a cryptocurrency trading platform for retail clients, breaking the ranks of the banking sector in the process. In response to the decision, financial watchdogs in Australia are being compelled to concentrate their attention immediately on the volatile $2 trillion cryptocurrency market, which many believe has no underlying value and depends on consumers’ entire reliance on various forms of software....

Indeed, a court in the South Korean capital has issued a warrant for Do Kwon and five additional persons, citing violations of the country’s Capital Markets Act, according to a text message from the prosecutor’s office, Bloomberg’s Hooyeon Kim, reported on September 14. The Financial Crimes Unit of the Supreme Prosecutors Office said that the six are in Singapore. The timeline of the collapse As a reminder, Terra’s co-founder is facing allegations of fraudulent activities after the devastating $45 billion crash of the Terraform Labs ecosystem that started a series of unfortunate events devastating the entire crypto sector....