SMH, Semiconductors Hit by Trump Taiwan Talk
Chipmaker stocks dropped sharply Wednesday after Trump questioned support for Taiwan.
Chipmaker stocks dropped sharply Wednesday after Trump questioned support for Taiwan.
According to Odaily, Block Inc., the cryptocurrency company founded by Jack Dorsey, has announced plans to shut down its Cash App service in the United Kingdom. The platform, which has been operational in the UK for six years, will cease its services on September 15. The company communicated this decision to its customers on Thursday.
According to CryptoPotato, Ripple has made significant strides in its ongoing legal battle with the US Securities and Exchange Commission (SEC). The conflict, which began in December 2020, centers around allegations that Ripple and some of its executives conducted an unregistered securities offering through certain XRP sales. The case has seen numerous developments over the years and entered its trial phase in April 2024.Ripple has secured three partial court victories in 2023, which many believe have given the company an upper hand. The most notable of these occurred nearly a year ago when Judge Torres ruled that Ripple’s programmatic sales to secondary trading platforms do not constitute offers of investment contracts. Following this, the court dismissed the SEC's intention to appeal the decision, and Ripple’s CEO Brad Garlinghouse and Executive Chairman Chris Larsen were cleared of all charges.Despite these victories, the final resolution of the case remains pending and could be delayed indefinitely due to the complexity of the legal process and potential appeals. However, some experts are optimistic about a near-term resolution. American lawyer Jeremy Hogan predicts the case could conclude before the end of the summer, while Fred Rispoli has suggested a probable settlement date of July 31. Ripple’s CEO Garlinghouse also expressed hope for a resolution “very soon,” though he did not confirm whether settlement talks are currently underway.The anticipation of a resolution has positively impacted the price of XRP. On July 18, the token’s price briefly surpassed $0.63, a level last seen in March, and its market cap rose above $34 billion before settling at $32.5 billion. This surge temporarily made XRP the sixth-largest cryptocurrency by market capitalization.The outcome of the Ripple v SEC lawsuit remains uncertain, but its resolution could have significant implications for the price of XRP and the broader cryptocurrency market.
According to Odaily, the Greek government is planning to introduce a tax framework for cryptocurrencies and digital assets. Although the government has not yet officially recognized these assets, a special committee is set to submit its findings on cryptocurrencies and digital assets to the Ministry of Economy and Finance. It is expected that by January 2025, cryptocurrencies will be included in the tax system. Profits from cryptocurrency and digital asset transactions will be taxed as capital gains from the sale of securities at a rate of 15%.
Former President Donald Trump is scheduled to formally accept his Republican party nomination and speak at the Republican National Convention (RNC) tonight. The energy sector (XLE) will be hanging on Trump's words if he references plans to up oil (CL=F, BZ=F) drilling practices or pullback on a green energy push that has been a policy staple under the Biden administration. Senior markets reporter Ines Ferré breaks down Stifel data that compares how clean energy and traditional energy stocks performed under Trump's and President Biden's first terms. For more expert insight and the latest market action, click here to watch this full episode of Catalysts. This post was written by Luke Carberry Mogan.
NEW YORK, July 18, 2024--OUNZ passes $1 billion in AUM; provides investors the option to request physical delivery of gold coins and bars.
The iShares MADE ETF is banking on a U.S. manufacturing renaissance.
- The U.S. dollar edged higher Thursday, while the euro slipped ahead of an ECB meeting and sterling dipped as U.K. wage growth slowed. At 04:00 ET (09:00 GMT), the...
According to BlockBeats, the U.S. Securities and Exchange Commission (SEC) has canceled a closed-door meeting that was originally scheduled for 2 PM Eastern Time on July 18. The information was disclosed on the SEC's official website.Previously, BlockBeats reported that sources indicated the meeting might address the ongoing Ripple lawsuit and potential settlement options. An internal notice suggested that, given Ripple's significance and the SEC's involvement in multiple legal cases, many in the crypto community speculated that this meeting would be a focal point.
-- Most Asian currencies tread water on Thursday amid concerns over stricter U.S. trade restrictions on China, while the Japanese yen steadied after strengthening...