Anyone who has dealt with trading in traditional finance is likely to be aware of profit and loss (PnL). But is PnL in the cryptocurrency world the same? The ability to comprehend terms like mark-to-market (MTM), realized PnL and unrealized PnL will help develop a better understanding of the cryptocurrency a person holds. Without a well-defined process to get insight…
The Coinbase CEO has a lot of faith that Congress will make a “clear rule book” for crypto firms to follow. But the Securities and Exchange Commission? Not so m… Source: https://cointelegraph.com/app/public/index.php/news/coinbase-remains-100-committed-to-us-market-armstrong
Argentine Foreign Minister Santiago Cafiero referred to the advantages the issuance of a Latin American common currency would give Argentina. Cafiero stated that the existence of such a currency would relieve the stress that the country is currently facing regarding the state of its foreign reserves and the devaluation of its fiat currency. Argentine Foreign Minister Talks Latin American Common…
The United States vice president and President Biden’s top advisors have held a meeting with several AI industry CEOs to discuss “concerns about the risks associated with AI.” On May 4, U.S. vice president Kamala Harris was joined by nine top Biden administration advisors in science, national security, policy and economics, meeting with the CEOs of OpenAI, Microsoft, Google and…
Brazilian President Luiz Inacio Lula da Silva stated Brazil will serve as a facilitator to try and arrange BRICS bloc assistance for Argentina. Lula stated that the New Development Bank — the BRICS bank — could modify some of its rules to aid Argentina. Also, the two countries are negotiating the establishment of a credit line to pay for Brazilian…
United States-founded cryptocurrency exchange Coinbase has no plans to move its operations out of the U.S., CEO Brian Armstrong told investors in an Q1 earnings call. On May 5, Armstrong assured shareholders the firm is “100% committed” to the U.S. market over the long term despite regulatory uncertainty in the U.S. “So let me be clear, we’re 100% committed to…
Fintech firm Block, owned by Twitter founder Jack Dorsey, has reported a staggering $2.16 billion in Bitcoin (BTC) revenue on its bellwether product Cash App in Q1. According to a shareholder letter announcing its Q1, 2023 earnings, Block (NYSE:SQ) reported that its Bitcoin revenue — which counts BTC revenue as total sales of the cryptocurrency to customers — was up…
Terraform Labs is seeking to have a class action lawsuit against the firm dismissed, arguing the United States securities laws referenced are not applicable to its foreign-developed protocols. On May 3, Terraform Labs requested a California federal judge dismiss an investor suit brought by Nick Patterson that claimed the company sold unregistered securities and misled investors. The firm’s attorneys, Dentons,…
The European Central Bank (ECB) raised its key interest rates by 25 basis points, slowing the pace from previous increases. However, as inflation in the euro area remains persistently high, future rate hikes may still be expected with the regulator insisting it will continue to seek a “timely return” to its 2% inflation target and ECB president Christine Lagarde stating…
Smart contract auditor CertiK claims to have blocked $160,000 from Merlin, a zk-Sync-based decentralized exchange (DEX) which has been the center of a rogue insider “rugpull” that lost users $1.8 million last week. CertiK shared the news of its successful $160,000 freeze of the stolen funds in an update to its 257,700 Twitter followers on May 5. “We have successfully…
