Author: Anthony M. Orbison
Binance’s delisting of WRX reflects unresolved disputes and regulatory risks, causing a 56% price crash. Market metrics confirm WRX’s bearish trend, with oversold RSI and critical support nearing $0.0869. In a dramatic turn of events, Binance’s decision to delist WazirX [WRX], Kaon [AKRO], and Bluzelle [BLZ] has led to a sharp decline in their values, with WRX plunging 56% at press time to $0.1006. The fallout from this announcement extends beyond price action, shining a spotlight on the unresolved Binance-WazirX dispute and raising questions about regulatory risks tied to these tokens. What happened between Binance and WazirX? The Binance-WazirX relationship…
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By Chuck Mikolajczak NEW YORK (Reuters) -U.S. stocks ended little changed on Thursday, giving up an initial rebound from a sharp drop in the prior session after the Federal Reserve forecast fewer-than-expected interest rate cuts and higher inflation next year. Economic data was in sync with the Fed’s view, with weekly initial jobless claims falling more than expected while gross domestic product for the third quarter was revised to show a 3.1% increase from the previously reported 2.8% pace. “It clearly sent a message that rates weren’t going to keep going down if inflation didn’t continue its decline, and we’ve…
The Avalanche Foundation’s native cryptocurrency, AVAX, has had a troubling recent week, falling as much as 27%. Following the announcement of the Avalanche Foundation raising $250 million for a blockchain upgrade, the foundation’s native cryptocurrency quickly reversed its momentary surge. Recent AVAX price analysis reveals rising momentum and improving market conditions despite the recent downturn. With the recent slump, can AVAX still reach $100 in a year? Can AVAX Price hit $100 by 2026? Looking past December, AVAX’s growth potential remains positive. The cryptocurrency market trends indicate a growing interest in layer-1 networks, which benefits the foundation. Previous price predictions…
By Lisa Baertlein and Abhinav Parmar (Reuters) -FedEx announced the much-anticipated spinoff of its freight trucking division on Thursday, as it restructures its operations to focus on its core delivery business, sending shares in the parcel delivery giant up as much as 10% in after-hours trading. Analysts believe the spinoff could unlock up to $20 billion in shareholder value, while clearing the way for FedEx management to zero in on merging operations of its separate Express and Ground units. They also say FedEx Freight assets were not fully appreciated within FedEx and that spinning that business off as an independent…
It’s not a very safe world. That becomes obvious when you visit the U.S. State Department website and see how many countries are subject to some form of travel warning.All warnings, however, are not created equal. The lightest two travel advisories the State Department issues, Level 1: Exercise Normal Caution and Level 2: Exercise Increased Caution, amount to the government telling you to be careful.Related: Forget Nassau, US adds serious warnings for 2 Caribbean cruise portsFor Level 1 and Level 2 travel advisories, it often makes sense to read the specific warning the department issued. Sometimes it includes areas not…
A decentralized real estate trading platform built on smart contract platform Solana (SOL) saw its price rise and dip after gaining support from Coinbase. Two days ago on the social media platform X, the top US-based crypto exchange platform said it had added Parcl (PARCL), a decentralized exchange (DEX) that lets users trade and invest in real estate using synthetic assets without the need to physically own any property. Synthetic assets are tokenized, blockchain-based representations of real-world assets, such as securities and real property that can easily be swapped. News of the addition caused the token to dip in price…
Unlock the White House Watch newsletter for freeYour guide to what the 2024 US election means for Washington and the worldUS House Republicans have crafted a new spending bill that acquiesces to Donald Trump’s demand to seek a two-year extension to the debt limit in order to avoid a government shutdown by the end of the week.The 116-page bill put forward on Thursday would also extend government spending to March 14 and includes billions of dollars for communities devastated by natural disasters. The president-elect urged Republicans and Democrats to vote for the deal. “SUCCESS in Washington!” he posted on his…
(Reuters) -United States Steel on Thursday forecast a surprise loss for the fourth quarter, sending its shares down nearly 5% in aftermarket trading. The company expects an adjusted loss of between 29 cents and 25 cents for the quarter, compared with analysts’ average estimate of a profit of 16 cents, according to data compiled by LSEG. U.S. Steel projected its fourth-quarter adjusted core profit to be about $150 million, which is below its prior forecast of $225 million to $275 million. Steel prices remained depressed and costs related to the ramp up of its Big River 2 (BR2) facility exert…
It was a sea of red in the crypto industry as Bitcoin price dropped below $100,000 briefly and the crypto fear and greed index moved from the extreme greed zone of 88 to 69. So, why did crypto crash this week? Bitcoin (BTC), he largest cryptocurrency, was trading at $102,300 on Dec. 19, while Ethereum (ETH) dropped to $3,600. Some of the top laggards were coins like Cosmis, Floki, THORChain, Curve DAO Token, and Fantom. Crypto crashed because of the Fed decision The most important reason why the crypto crash happened is the Federal Reserve decision. The bank decided to…