Author: MNK News
Federal Reserve chair Jerome Powell reiterated the bank’s position on a Bitcoin reserve from an existing legal perspective. Speaking at a routine conference after announcing monetary decisions, Fed chair Powell stated that the U.S. central bank cannot own Bitcoin (BTC) and, thus, is unable to hold a BTC reserve. The bank regulator stressed that current laws do not authorize a Fed BTC reserve. America’s apex bank is also disinterested in any law changes that would permit a formally recognized government-managed BTC stockpile, Powell added. Powell shared the remarks shortly after the year’s last Federal Open Market Committee, where the Fed…
Recent changes in market structures suggest a new wave of leverage is emerging within the crypto ecosystem, driven by evolving arbitrage strategies and prime brokerage activities, potentially leading to new systemic risks. Raoul Pal, Co-founder of Real Vision and a Global Macro Investor, along with Mauricio Di Bartolomeo, Chief Sales Officer at Ledn, have provided insights into these trends, focusing on how hedge funds, intricate trading strategies, and links to traditional finance might influence future developments. Raoul Pal has expressed concerns about the onset of another significant leverage cycle, emphasizing, “I’m seeing the signs of a gigantic leverage cycle about…
It’s here! The Steam Winter Sale is underway now and runs through January 2. That leaves you plenty of time to internally debate whether you really need to buy yet more games and ultimately convince yourself that yes, in fact, you do.Several notable titles from the Summer Sale are once again seeing similar discounts this season. Baldur’s Gate 3 is 20 percent off and you can buy it for $48. At $27, Cyberpunk 2077 is half off and Elden Ring is $36, which is 40 percent off.If you’ve already had your fill of Elden Ring, you can save 40 percent…
When Apple put its new M4 chip in the iPad Pro before adding it to a MacBook, that was a pretty clear sign that tablets are more than just idle couch companions. But with just one or two ports, you’ll need a hub if you want to maximize that potential. The same goes for laptops: they can be more powerful than desktops, but they almost always have fewer ports. USB-C hubs give you some combo of extra USB, HDMI, memory card, Ethernet and/or 3.5 mm ports so you can connect peripherals like monitors or wired mice and keyboards. You can…
Coinbase has successfully fended off a restraining order sought by BiT Global as a California court ruled in favor of the exchange’s decision to delist Wrapped Bitcoin. The Hong Kong-based company BiT Global is allegedly tied to crypto entrepreneur and Tron founder Justin Sun, who had sought the order to prohibit Coinbase from removing Wrapped Bitcoin (wBTC), arguing it would inflict “irreparable” damage to its business. The ruling from U.S. District Judge Araceli Martínez-Olguín permits the delisting to move forward as scheduled. The court also observed that “self-inflicted wounds are not irreparable injury”, suggesting that BiT Global’s purported injury stemmed from…
The award-winning actress and fitness celebrity is bringing her upbeat cardio sessions to virtual realityOver 17 million people watched Jane Fonda don a leotard and legwarmers to host her iconic VHS workout series from 1982 to 1995, which became the first non-theatrical home video to top sales charts. Now, Fonda is partnering with Supernatural, Meta Quest’s Virtual Reality fitness program, to bring her beloved instructional videos to 2024. Credit: MetaPaying homage to her best-selling at-home VHS workout videos, Fonda and Meta have created a four-part fitness series titled Jane Fonda’s Workout, which will be available for purchase on Christmas Day. Rapper and…
Fans of Nick Jonas are outraged over the Jonas Brothers singer’s apparent support of Elon Musk. “I used to pray to god to take your diabetes away,” one so-called fan wrote to Jonas. “Take us to the Year 3000,” Jonas wrote — in reference to a hit 2006 song by the Jonas Brothers — in a Tuesday X post, sharing an image of Musk. The “Leave Before You Love Me” singer was replying to Musk’s tweet, which read, “My, how the tables have turned!” and also included a video of two men turning a table. The SpaceX CEO’s comment was in reaction…
CLNKraneShares Key News Asian markets were mixed overnight before today’s hawkish US Fed cut as South Korea outperformed, while Pakistan was down -3.41%, bringing its year-to-date return to +80%. Surprisingly, there is little commentary on whether the PBOC will cut rates as the Loan Prime Rate will be announced tomorrow, while the medium-term lending facility rate date hasn’t been released yet. The PBOC mimicking a Fed cut might limit currency depreciation versus the US dollar. An argument against the cut would be the action taken overnight by the PBOC to rein in speculation on China’s 10-year Treasury bond. The yield…
Tomoyuki Sugano has left Japan’s version of the New York Yankees to sign with the Baltimore Orioles, who will try to beat out the real thing in 2025. Sugano, 35, has been a star for 12 years with the Yomiuri Giants of Nippon Professional Baseball’s Central League. He has twice won the Sawamura Award (Japan’s Cy Young Award), is a three-time League MVP and eight-time All-Star. The Orioles, supplanted in 2024 by the Yankees as champions of the American League East, gave Sugano a one-year, $13 million contract. LOS ANGELES: Tomoyuki Sugano of Team Japan pitches during Game 2 of…
U.S. stocks sank to their second-worst loss of the year after the Federal Reserve signaled that it may deliver fewer interest rates cuts in 2025 than earlier thought. The S&P 500 dropped 2.9% Wednesday to pull further from its all-time high set a couple weeks ago. The Dow Jones Industrial Average sank more than 1,100 points, and the Nasdaq composite dropped 3.6%. Fed officials released projections showing they’re penciling in just two cuts to interest rates next year, instead of the four they were projecting a few months ago. Treasury yields ramped higher to add pressure on the stock market.…