Tether claims USDT stablecoin is backed by non-US bonds

Tether claims USDT stablecoin is backed by non-US bonds

Tether previously claimed its stablecoin was backed 1-to-1 by US dollars. Justin Tallis | Afp | Getty Images The issuer of the stablecoin tether said in a report that the controversial digital currency is now backed in part by “non-US” government bonds. Stablecoins are a type of cryptocurrency pegged to the value of sovereign currencies … Read more

Fuel is a problem for business and consumers – Why prices are so high

Fuel is a problem for business and consumers – Why prices are so high

A sign displays gas prices at a gas station on May 10, 2022 in San Mateo County, California. Liu Guanguan | China News Service | Getty Images The surge in gasoline prices is impossible to miss and at the top of consumers’ minds as large billboards announce that gas now costs $ 4, or $ … Read more

Elon Musk and Twitter: Now It’s Personal and Ugly

Elon Musk and Twitter: Now It’s Personal and Ugly

It’s a saga that keeps markets and social networks in suspense. Since Elon Musk announced on April 4 that he owned 9.2% of Twitter (TWTR) – Get Twitter, Inc. carry and nine days later launched a $ 44 billion bid to acquire the microblogging platform, the many twists and turns in the story have come … Read more

‘No longer just a payments company’

‘No longer just a payments company’

Twitter CEO Jack Dorsey addresses students during a town hall at the Indian Institute of Technology (IIT) in New Delhi, India, November 12, 2018. Anushree Fadnavis | Reuters Block executives no longer want the firm to be seen as a payments pure play. The San Francisco-based company held its first investor day in five years … Read more

5 things to know before the stock market opens Wednesday, May 18

5 things to know before the stock market opens Wednesday, May 18

Here are the most important news, trends and analysis that investors need to start their trading day: 1. Stock futures fall as inflation claims another retailer Traders on the floor of the NYSE, May 17, 2022. Source: NYSE US stock futures dropped Wednesday as rising inflation slammed another retailer. Target sank 24% in the premarket, … Read more

Shopee, Garena post strong revenue

Shopee, Garena post strong revenue

Shares of Southeast Asia’s e-commerce and gaming firm Sea Group popped up after its first-quarter revenue beat analysts’ expectations on Tuesday. Sea’s US-listed shares rose 14% to close at $ 80.21 after the Singapore-based internet firm reported revenue that exceeded analysts’ expectations in the first quarter this year. Here’s how the New York Stock Exchange-listed … Read more

Investment adviser Allianz Global Investors US charged with $ 5 billion fraud

Investment adviser Allianz Global Investors US charged with $ 5 billion fraud

A monitor displays Allianz Global Investors GmbH signage on the floor of the New York Stock Exchange (NYSE) in New York. Michael Nagle | Bloomberg | Getty Images Bus drivers, subway conductors and religious and charitable organizations nationwide lost over $ 5 billion when a Covid-induced stock market collapse crushed private investment funds linked to … Read more

A hot summer could send rising natural gas prices shooting even higher

A hot summer could send rising natural gas prices shooting even higher

Workers operate a drilling rig for an EBR Energy LP natural gas well near Columbus, Texas. Scott Dalton | Bloomberg | Getty Images US natural gas prices more than doubled since the start of the year, and this summer’s air-conditioning season could send them soaring by at least another 25%. In the futures market, gas … Read more

Rivian, Amazon, Apple, AMD, Maxar

Rivian, Amazon, Apple, AMD, Maxar

Here are Tuesday’s biggest calls on Wall Street: Barclays reiterates Microsoft as overweight Barclays said in a note Tuesday that Microsoft Teams is an “$ 85 billion opportunity.” “Recently, we have seen increased investor nervousness regarding the future growth opportunities for the Microsoft O ff ice franchise. However, we believe that recognizing the large opportunity … Read more

Tether (USDT) redemptions fuel fears about stablecoin’s backing

Tether (USDT) redemptions fuel fears about stablecoin’s backing

Tether has faced repeated calls for a full audit of its reserves. Justin Tallis | AFP via Getty Images Investors have withdrawn more than $ 7 billion from tether since it briefly dropped from its dollar peg, raising fresh questions about the reserves underpinning the world’s largest stablecoin. Tether’s circulating supply has slipped from about … Read more