Billions of dollars have flowed out of Binance, one of the leading cryptocurrency exchanges in the world, as the industry struggles with the high-profile fallout of FTX. Binance’s 24-hour net outflow hit $3 billion, according to a Dec. 13 tweet by blockchain data firm Nansen. The exchange reported more than $62.5 billion in disclosed holdings….
Binance Withdrawals Surge to $3 Billion in 24 Hours as Crypto Industry Trembles Amid FTX Fallout
December 14, 2022
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German Recession Will Be Milder Than Expected: Ifo
BERLIN—Germany’s recession will be milder than expected, with the economy expected to contract by 0.1 percent in 2023 compared to a previous forecast of shrinking by 0.3 percent, the Ifo economic institute said on Wednesday. The economy is expected to grow by 1.8 percent in 2022 compared to a previous forecast of 1.6 percent. Inflation…
Dollar Wallows at 6-Month Lows Ahead of Last Fed Meeting of 2022
LONDON—The dollar traded at its lowest in six months against the euro and pound on Wednesday after data showed U.S. inflation is cooling off, which investors believe gives the Federal Reserve room to slow the pace of future rate hikes. After raising interest rates by 75 basis points at four successive meetings, the U.S. central…
Oil Prices up Amid Forecasts of 2023 Demand Uptick
December 14, 2022
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil prices rose on Wednesday after OPEC and the International Energy Agency (IEA) both forecast a rebound in demand over the course of next year and as U.S. rate hikes are expected to ease alongside slowing inflation. Brent crude futures rose 76 cents, or 0.9 percent, to $81.44 per barrel by 1144 GMT, while U.S….
Global Stocks Gain, Dollar Drops Ahead of Fed Rate Decision
December 14, 2022
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LONDON/SINGAPORE—Global stocks eked out small gains and the dollar slipped on Wednesday on hopes that central banks will stop raising interest rates in early 2023 following the latest U.S. data that showed a slowdown in inflation. Yet nervousness about the next moves by policymakers kept gains in check ahead of a Federal Reserve meeting later…
FTX Boss Sam Bankman-Fried Denied Bail in Bahamas After Arrest, Faces up to 115 Years in Jail
December 14, 2022
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AmericasBusiness & MarketsCompaniesCrime and IncidentscryptocurrencyeconomyFTXMarketsSam Bankman-FriedUSUS Newswire fraudWorld
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Sam Bankman-Fried, the owner of the failed cryptocurrency exchange FTX, has been denied bail after his arrest in the Bahamas at the request of the U.S. government on Monday. In a hearing that lasted more than three hours on Tuesday, Chief Magistrate Joyann Ferguson-Pratt ruled that Bankman-Fried’s $250,000 bail request would be denied on the basis that Bankman-Fried…
FTX Founder Sam Bankman-Fried Denied Bail in Bahamas After Arrest, Faces up to 115 Years in Jail
December 14, 2022
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AmericasBusiness & MarketsCompaniesCrime and IncidentscryptocurrencyeconomyFTXMarketsSam Bankman-FriedUSUS Newswire fraudWorld
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Sam Bankman-Fried, the owner of the failed cryptocurrency exchange FTX, has been denied bail after his arrest in the Bahamas at the request of the U.S. government on Monday. In a hearing that lasted more than three hours on Tuesday, Chief Magistrate Joyann Ferguson-Pratt ruled that Bankman-Fried’s $250,000 bail request would be denied on the basis that Bankman-Fried…
FTX Founder Bankman-Fried Denied Bail in Bahamas After Arrest, Faces Up to 115 Years in Jail
December 14, 2022
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AmericasBusiness & MarketsCompaniesCrime and IncidentscryptocurrencyeconomyFTXMarketsSam Bankman-FriedUSUS Newswire fraudWorld
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Sam Bankman-Fried, the founder and former CEO of the failed cryptocurrency exchange FTX, has been denied bail after his Dec. 12 arrest in the Bahamas at the request of the U.S. government. In a hearing that lasted more than three hours on Dec. 13, Chief Magistrate Joyann Ferguson-Pratt denied Bankman-Fried’s $250,000 bail request, citing a heightened flight risk…
Gold Is Better Portfolio Diversifier Than Bitcoin: Goldman Sachs
Goldman Sachs expects gold, with its real demand drivers, to outperform the highly volatile bitcoin in the long term, the bank wrote in a Monday research note. Gold is less likely to be influenced by tighter financial conditions, meaning it is “a useful portfolio diversifier,” said Goldman, especially given that gold has developed non-speculative use…
Closing Prices for Crude Oil, Gold and Other Commodities (Dec. 13)
December 13, 2022
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Benchmark U.S. crude oil for January delivery rose $2.22 to $75.39 a barrel Tuesday. Brent crude for February delivery rose $2.69 to $80.68 a barrel. Wholesale gasoline for January delivery rose 8 cents to $2.16 a gallon. January heating oil rose 12 cents to $3.09 a gallon. January natural gas rose 35 cents to $6.94…
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