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☆ I'm a mom that's test-driven or toured 65 family cars — these are my favorite models and top tips for buying
▼ + stars: | 2023-06-17 | by ( Alexa St. John | ) www.businessinsider.com time to read: +9 min

Kelly Stumpe, also known as the Car Mom, has test-driven and toured 65 family cars. The problem with buying a family car is, it's not just a matter of: "I don't like the drive." It is not as simple as if it has a seatbelt, it can fit a car seat. In the Sequoia, I can only put it in the middle seat, so I could not have another child in this car who would still be in a car seat. It actually allows you to access the third row when a car seat is still installed.

Persons: Kelly Stumpe, Alexa St, Stumpe reevaluated, St . Louis, there's, I've, shouldn't, Joe Raedle, it's, Stumpe, It's, they're, I'm, Sienna Organizations: Morning, Toyota, Hyundai, Nissan, Ford Expedition, Toyota Sequoia, Leasing, Ford The Ford Expedition, General Motors, Honda, VW Locations: John, St, Louis , Missouri, St ., Florida, Hyundai Santa Fe, Autotrader, Edmunds, Yukon

☆ Bitcoin drops below $25,000, Tether's stablecoin falls under its dollar peg
▼ + stars: | 2023-06-15 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +1 min

Standard Chartered predicts that bitcoin could fall to $5,000 in 2023 as part of their research on potential market surprises next year. Cryptocurrency prices fell after the Federal Reserve's June meeting, with bitcoin falling below $25,000 for the first time since March. On Thursday, bitcoin was lower by around 4% at $24,866.92, according to Coin Metrics, while ether fell more than 5% to $1,632.47. And selling pressure weighed on Tether (USDT), which lost its peg to the U.S. dollar on most exchanges Thursday, falling to 99 cents in its biggest drop since November. "Given how thin trading volumes are at the moment, a sizable (but not massive) sell order is enough to set off liquidations."

Persons: bitcoin, Altcoins, Polygon's, Cardano's, Stocks, Michael Safai Organizations: Chartered, Federal, Metrics, U.S, Federal Reserve

Over 50 cryptocurrencies worth over $100 billion in total and making up about 10% of the overall market, are now viewed by the SEC watchdog as securities, according to CCData. Among major players, for example, solana , polygon and cardano have sunk between 23% and 32%. Bitcoin and ether weren't named in the SEC's lawsuit, nor were stablecoins such as tether and USC Coin. By contrast, bitcoin investors who have held their coins for more than five months appeared relatively calm and accounted for just 1.9% of deposit volume. Investment products tracking altcoins have seen positive - albeit small - net inflows this year, in contrast to bitcoin and ether, Coinshares data showed on Monday.

Persons: Vetle Lunde, Ryan Rasmussen, solana, Lucas Kiely, Alex Thorn, Noelle Acheson, James Butterfield, Lisa Mattackal, Medha Singh, Pravin Organizations: U.S, SEC, K33 Research, solana, Securities, Bitwise Asset Management, Reuters Global Markets, Cardano Foundation, Solana Foundation, Reuters, Polygon Labs, Reuters Graphics Reuters, USC, BTC, ETH, Firmwide Research, Galaxy Digital, Pravin Char, Thomson Locations: cardano, altcoins, Bengaluru

☆ Binance plans to swap 750 million of token pairs to ensure liquidity
▼ + stars: | 2023-06-12 | by ( ) www.reuters.com time to read: +2 min

June 12 (Reuters) - Binance said in a tweet on Monday it would swap 750 million tether-tron token pairs for tether-ether in an attempt to maintain the stablecoin's liquidity. The move comes amid renewed regulatory scrutiny at the world's largest cryptocurrency exchange and will help cushion some of the fallout from recent blows, including Binance being sued by the U.S. Securities and Exchange Commission. The swap, set to start after 12 p.m. UTC on Monday, will be held directly with the tether team, the tweet said. Tron is the ninth largest cryptocurrency with a $6.3 billion market value, while ether is the largest after bitcoin, with its $210 billion market capitalization. A month later the U.S. arm of Binance said it would remove digital asset token tron from its trading platform.

Persons: Binance, Changpeng Zhao, Zhao, Justin Sun, Mehnaz Yasmin, Medha Singh Organizations: U.S . Securities, Exchange Commission, U.S ., SEC, U.S, Binance, Tron Foundation, Thomson Locations: U.S, Bengaluru

☆ Banks are cutting off Binance's access to U.S. banking system, exchange says
▼ + stars: | 2023-06-08 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

The Securities And Exchange Commission has filed lawsuits against cryptocurrency exchanges Coinbase and Binance for allegedly violating multiple securities laws. Binance announced the change late Thursday night on Twitter, and blamed the Securities and Exchange Commission's "unjustified civil claims against our business." Binance's banking transactions are the center of immense scrutiny by the SEC, which filed a civil complaint against the exchange and its founder, Changpeng Zhao, alleging both violated U.S. securities laws. But it suggests that Binance's banking partners have decided the exchange is too risky a client to keep on, and that the revelations from the SEC case have grown too significant to ignore. Multiple banking partners had already stopped serving Binance, and it wasn't immediately clear which banking partners Binance retained.

Persons: Justin Sullivan, Binance, Changpeng Zhao, —, wasn't Organizations: Securities, Exchange, Twitter, SEC, Axos Bank, Bank Locations: CALIFORNIA, San Anselmo , California, United States, Silicon Valley

☆ Tether CTO says stablecoins will move toward a full audit to prove reserves
▼ + stars: | 2023-06-06 | by ( Arjun Kharpal | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTether CTO says stablecoins will move toward a full audit to prove reservesPaolo Ardoino, CTO of Tether, said the stablecoin industry will likely move closer to full audits to prove they have assets to back their digital currencies.

Persons: stablecoins, Paolo Ardoino

☆ Binance issues could lead more people to move to USDT stablecoin, Tether CTO says
▼ + stars: | 2023-06-06 | by ( Arjun Kharpal | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBinance issues could lead more people to move to USDT stablecoin, Tether CTO saysPaolo Ardoino, chief technology officer of Tether, discusses the U.S. Securities and Exchange Commission's allegations against crypto exchange Binance.

Persons: USDT, Paolo Ardoino Organizations: U.S . Securities, Exchange

☆ El Salvador partnership to build $1 billion bitcoin mining farm
▼ + stars: | 2023-06-05 | by ( ) www.reuters.com time to read: +2 min

SAN SALVADOR, June 5 (Reuters) - A public-private partnership in El Salvador will pump $1 billion into creating one of the world's largest bitcoin mining farms, the group called Volcano Energy announced on Monday. Volcano Energy said the funds would go toward an estimated 241 MW power generation park using solar and wind energy in the northwestern municipality of Metapan, which will eventually power the bitcoin mining farm. Bitcoin mining uses high-power computers hooked up to a global network, sucking up massive amounts of electricity in the process. The El Salvador government will have "a preferred participation equivalent to 23% of the revenues" in the project, Volcano Energy said, with private investors holding 27%. Reporting by Nelson Renteria in San Salvador and Kylie Madry in Mexico City; Editing by Aurora EllisOur Standards: The Thomson Reuters Trust Principles.

Persons: Nayib Bukele, Josue Lopez, Max Keiser, Nelson Renteria, Kylie Madry, Aurora Ellis Organizations: SALVADOR, Volcano Energy, Salvadoran, Reuters, International Monetary Fund, El, U.S ., Thomson Locations: El Salvador, Salvador's, Metapan, San Salvador, Mexico City

Right now though, the market has never been more top-heavy and the share of market constituents outperforming the broader index has never been lower. According to Ed Clissold at Ned Davis Research, the percentage of stocks outperforming the S&P 500 this year is just 24.5%. The percentage of S&P 500 stocks outperforming the index on a rolling three-month basis is just 20.3%, a record low. Clissold says that the S&P 500's one-year gain after periods of relative strength by a small group of large caps is an average 1.8%. These five stocks account for over a quarter of the S&P 500's $36.78 trillion market cap, and the top 10 account for a third of the total.

Persons: bode, Ed Clissold, Ned Davis, Meb Faber, Chuck Prince's, Cambria's Faber, Jamie McGeever, Andrea Ricci Organizations: NYSE, Barclays, Apple, Microsoft, Nvidia, Ned Davis Research, Reuters, Google, Cambria Investment Management, Citigroup, Thomson Locations: ORLANDO, Florida

☆ Stablecoin giant Tether to mine bitcoin in Uruguay using renewable energy
▼ + stars: | 2023-05-30 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

Cryptocurrency giant Tether is setting up a bitcoin mining operation in Uruguay using renewable energy, as the company looks to diversify the revenue mix to support its USDT stablecoin. The company said Tuesday that it plans to invest its resources into renewable energy production, marking its first foray into the energy sector. Tether is also on the hunt for "experts in the area" to support its expansion into the renewable energy space, it said. "By harnessing the power of Bitcoin and Uruguay's renewable energy capabilities, Tether is leading the way in sustainable and responsible Bitcoin mining," said Paolo Ardoino, CTO of Tether. "Our unwavering commitment to renewable energy ensures that every Bitcoin we mine leaves a minimal ecological footprint while upholding the security and integrity of the Bitcoin network."

CNN —Josef Newgarden won the 107th running of the Indianapolis 500 in a wild finish Sunday after three crashes in the last 16 laps. When the checkered flag finally waved after nearly three hours, it was Newgarden who claimed his first Indy 500 win – but getting there required a lot of drama. The green flag waved again with one lap to go, and Ericsson initially extended his lead over the chasing Newgarden. But Newgarden caught Ericsson and slingshot past him on the back straightaway to reclaim the lead. “I’ve always wanted to go into the crowd here in Indianapolis,” Newgarden said in a postrace interview on NBC’s telecast.

☆ Crypto’s biggest headwinds this year are hurting stablecoins. Here’s what investors need to know
▼ + stars: | 2023-05-19 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

Stablecoins are like cash in crypto markets: They are supposed to be pegged to the value of a stable asset, such as the U.S. dollar. Stablecoins play an important role bridging traditional and digital currencies and giving market participants access to crypto trading and protocols. For many, that makes them a proxy for the amount of fiat money entering and leaving crypto, Panigirtzoglou said. Republican negotiators walking out of the high-stakes debt ceiling talks Friday also has implications for stablecoins. Tether and Circle's USDC hold about 65% and 57%, respectively, of their stablecoin reserves in T-bills, according to the companies' attestation reports.

☆ Tether to Buy More Bitcoin for Stablecoin Reserves
▼ + stars: | 2023-05-18 | by ( Vicky Ge Huang | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/tether-to-buy-more-bitcoin-for-stablecoin-reserves-eaeeee3d

☆ Investors have turned away from a key part of the stock market. Here's why.
▼ + stars: | 2023-05-18 | by ( Phil Rosen | ) www.businessinsider.com time to read: +5 min

A trader works on the floor of the New York Stock Exchange (NYSE) in New York, U.S., October 23, 2018. US stock futures rise early Thursday, as investors await the weekly jobless claims report to measure the strength of the labor market. It revealed just a week ago that it already holds $1.5 billion of the world's most popular token. Here are the five bank stocks to bet on now. The tech giant's stock has rallied on its AI efforts, and it surpassed the key threshold for the first time since May 2022.

☆ Death of Ownership: Companies Use Software, Subscriptions to Grab Money From Customers
▼ + stars: | 2023-05-18 | by ( Nathan Proctor | ) www.businessinsider.com time to read: +11 min

As more devices in our lives run on software, manufacturers have started to exert more control over their products even after the customer has taken them home. In some cases, companies force customers to use their repair services, disabling the product if they try to fix it themselves. Companies are just beginning to monetize this control, with dystopian methods and the assistance of America's unbalanced copyright laws. For companies, the appeal of subscriptions is pretty straightforward: a steady stream of revenue and a lot more money raised from their customers over time. In other cases, companies have tried to block consumers from accessing certain features at all unless they pay up first.

☆ Amazon's 100 drone deliveries puts Prime Air far behind Alphabet's Wing and Walmart partner Zipline
▼ + stars: | 2023-05-18 | by ( Katie Tarasov | ) www.cnbc.com time to read: +14 min

Wing CEO Adam Woodworth shows the Alphabet company's delivery drone to CNBC's Katie Tarasov on April 25, 2023, in Hollister, California. Walmart said it made more than 6,000 drone deliveries across seven states in 2022 with DroneUp, Zipline and a third partner, Flytrex. Amazon's VP of Prime Air David Carbon showcased the current MK27-2 drone in Westborough, Massachusetts, on Nov. 10, 2022. Prime Air drones, along with most other delivery drones, operate with a number of federal exemptions that greatly restrict where and how they can fly. Prime Air drones are not expected to exceed 58 decibels, according to an FAA assessment, about the noise level of an outdoor air conditioning unit.

☆ Tether buys $222 million worth of bitcoin to back its USDT stablecoin
▼ + stars: | 2023-05-17 | by ( Ryan Browne | ) www.cnbc.com time to read: +3 min

Cryptocurrency giant Tether on Wednesday said that it's going to purchase hundreds of millions of dollars' worth of bitcoin to back the world's largest stablecoin. The company said it would invest 15% of its net profit into bitcoin to "diversify" the reserves that back its USDT token, which aims to stick to a 1-to-1 peg to the U.S. dollar. That would amount to roughly $222 million, based on the company's last attestation report, which provides a breakdown of the assets that make up its USDT reserves. Tether began revealing it was making gains from its USDT operation in February, declaring a net profit of $1.48 billion in March and taking its total excess USDT reserves to $2.44 billion. USDT is the largest stablecoin in the market, with a circulating supply of more than $82.8 billion, according to CoinGecko data.

☆ Bitcoin gets vote of confidence as a long-term store of value as Tether says it will buy more of the crypto to back its stablecoin
▼ + stars: | 2023-05-17 | by ( Jason Ma | ) www.businessinsider.com time to read: +2 min

Bitcoin got a vote of confidence as a long-term store of value with Tether's new investment strategy. The issuer of the USDT stablecoin will allocate up to 15% of its net realized operating profits to buying bitcoin. Last week, Tether revealed that it held $1.5 billion of bitcoin in its reserves at the end of March. "Bitcoin has continually proven its resilience and has emerged as a long-term store of value with substantial growth potential," said Tether Chief Technology Officer Paolo Ardoino in a statement. Last week, Tether posted a first-quarter "attestation" that revealed it held $1.5 billion of bitcoin in its reserves at the end of March as well as $3.4 billion of gold.

☆ CNN town hall shows the network still doesn't know how to handle Donald Trump
▼ + stars: | 2023-05-11 | by ( Alex Sherman | ) www.cnbc.com time to read: +3 min

Wednesday's 70-minute town hall with Trump, moderated by anchor Kaitlan Collins, was CNN's first big opportunity since the change of ownership to showcase itself as a network of facts. Trump has a history of peddling election fraud lies — an example of saying it's raining when it's not. At one point, bothered by Collins' consistent attempt to tether Trump to the truth, Trump called Collins "a nasty person." "If I see election fraud, I think I have an obligation to say it," Trump said. In other words, Trump said he'd suspend talk about the 2020 election fraud and then, seconds later, spoke about 2020 election fraud.

☆ For Trump, a Verdict That’s Harder to Spin
▼ + stars: | 2023-05-10 | by ( Maggie Haberman | Jonathan Swan | ) www.nytimes.com time to read: +1 min

When Alvin L. Bragg secured the indictment of former President Donald J. Trump, it galvanized Trump supporters. Ron DeSantis of Florida, mark that indictment as the moment that Mr. Trump sped away from his nearest opponent in the polls. The price that Mr. Trump was ordered by the jury to pay his accuser, Ms. Carroll, was $5 million, in a verdict he has promised to appeal. Mr. Trump was said to be furious about the verdict, and questioning the various decisions that were made by his team in the defense. Far from letting up on Ms. Carroll, his team plans to aggressively attack her claims and tether her to Democrats.

☆ Stablecoin Tether's reserves hit $81.8 billion in Q1 - reserves report
▼ + stars: | 2023-05-10 | by ( ) www.reuters.com time to read: +1 min

LONDON, May 10 (Reuters) - Stablecoin Tether's reserves were worth $81.8 billion at the end of the first quarter, according to a reserves attestation on Wednesday, up around $14.8 billion from the previous quarter. Tether's reserves include $53 billion of U.S. treasuries, the report said, up from $39.2 billion at the end of 2022. They also include $1.5 billion worth of bitcoin and $5.3 billion worth of loans which the report said are "over-collateralized". A repo, short for repurchase agreement, refers to when financial institutions use U.S. Treasuries and other high-quality securities as collateral to raise cash, often overnight. Reporting by Elizabeth Howcroft and Hannah Lang; Editing by Alison WilliamsOur Standards: The Thomson Reuters Trust Principles.

May 9 (Reuters) - Digital stablecoin tether is winning the race for the title of the crypto world's "least risky" asset. Tether is already the top performer among stablecoins -- digital tokens pegged to some fiat asset like the dollar -- and has seen its market value soar since March. Buying tether and bitcoin is really a vote against the U.S. system," says Jensen. On CoinMarketCap's database of 23,891 tokens, tether has risen to number 3 with a market cap of $82 bln and a share of 6.83%. NO NEWS IS GOOD NEWSTo be sure, tether has long been dogged by doubts about its peg being backed by dollar reserves.

☆ Ether rallies more than 6% as meme mania tries to reenter the crypto market
▼ + stars: | 2023-05-05 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

Market participants put the move on attempts to bring meme mania back to the crypto market. Pepecoin (PEPE), based on the Pepe the Frog internet meme, is up more than 120% over the past 24 hours, CoinMarketCap said. Ethereum gas fees have been revived by the return of memecoins, just today hitting 1-year highs." "As gas fees increase, more ETH is burned, and at current activity levels ETH is a deflationary asset, which should help boost ETH's price," Ryder added. "In the last 24 hours, trading volumes for PEPE on Uniswap have surpassed the volumes of Tether and Wrapped Bitcoin, some of the highest volume tokens on the exchange."

Apparently they can in some parts of the world, such as Argentina and Turkey, where soaring prices and tumbling local currencies have forced people to seek refuge in digital coins. Trading volumes for spot bitcoin are highest during U.S. opening hours, with little change from 2022, Kaiko data showed. If dollar to crypto volumes are excluded, then the next most dominant currency is South Korea's won . Crypto trading volumes in South Korea are back to levels seen in first quarter and second quarters of 2022 after a weak fourth quarter in 2022, analysts at crypto investment firm Matrixport said. "This is in stark contrast to other crypto exchanges where bitcoin and Ethereum account for the majority of the volume."

☆ That simple 'hi' text from a stranger could be the start of a scam that ends up costing you millions
▼ + stars: | 2023-05-02 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +14 min

The scammer networks operate fake trading platforms that look "exactly the way they should look," Friedman told CNBC. "When I was looking at who had messaged, I was like, 'I don't know if this person is real,'" Kaimi told CNBC. When pressed, Kaimi told Mike about his financial difficulties, stemming from past credit-card debt. "I thought I was someone who knew when they were being scammed, was able to discern things," Kaimi told CNBC. But when Kaimi told Mike he was planning to withdraw his funds, the penny dropped.

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