Japan manufacturing activity close to expansion in April, services grow- PMI
-- Japanese manufacturing activity came close to breaking back into expansionary territory in April, while growth in the services sector improved, preliminary data...
-- Japanese manufacturing activity came close to breaking back into expansionary territory in April, while growth in the services sector improved, preliminary data...
According to PANews, following a jury verdict that found Terraform Labs and Do Kwon guilty of fraud, the U.S. Securities and Exchange Commission (SEC) has filed a motion seeking to recover $5.3 billion in illicit gains and civil penalties. In a document submitted to the U.S. District Court for the Southern District of New York on April 19, the SEC asked Terraform Labs and Do Kwon to pay approximately $4.7 billion in illicit gains and pre-judgment interest, as well as a total of $520 million in civil penalties. In addition, the SEC proposed to prohibit Do Kwon from serving as an executive or director of a securities issuing company and to provide detailed information about his accounts and assets. On April 5, a New York jury found Terraform and Do Kwon guilty of allegedly deceiving investors in the sale statements of TerraUSD (UST), Luna, and wLUNA.
Ryan O’Connor takes over amid concerns about executive turnover.
Citi FX analysts highlighted a dovish shift in the Bank of England's (BoE) recent remarks, which has led to a weaker British Pound (GBP) at the start of the week. The comments from...
- The U.S. dollar has been one of the success stories of the year so far, and Goldman Sachs has updated its forecasts, leaning into the direction of the greenback...
Investors should think about currencies again.
- The U.S. dollar traded largely unchanged in calm trading Monday, amid a calming of tensions in the Middle East and ahead of the release of the Federal Reserve’s...
On Monday, UBS revised its forecast for the USD/CNY exchange rate, citing increasing geopolitical tensions and expectations of fewer rate cuts by the Federal Reserve. The Swiss...
According to CryptoPotato, the ongoing legal dispute between Ripple and the United States Securities and Exchange Commission (SEC) over allegations of illegal XRP sales is set to proceed to trial on April 23. Ripple's Chief Legal Officer has confirmed that there will be no settlement before the trial, contrary to previous speculations. The legal conflict, which began over three years ago, entered its final phase when the SEC accused Ripple in December 2020 of illegally selling XRP in an unregistered security offering. Ripple has disputed these claims, arguing that XRP should not be considered a security and therefore does not fall under the SEC's jurisdiction. The trial, scheduled for April 23, will be decided by a federal judge. Some believe that Ripple has a better chance of winning, given that it secured three partial court victories last year. In addition to the start of the trial, Ripple is expected to respond to the SEC's request for penalties by April 22, with the regulator's reply due by May 6. Earlier this month, there were speculations that a settlement might be reached before the trial due to a final pretrial conference on April 16. However, Ripple's Chief Legal Officer, Stuart Alderoty, dismissed these rumors, stating that there was no final pretrial conference because the SEC had dropped the charges against Brad Garlinghouse and Chris Larsen. The resolution of this lengthy case could potentially have a positive impact on the price of XRP, particularly if Ripple emerges victorious. The price of the asset has seen significant increases following each of Ripple's partial victories in 2023. Conversely, a negative outcome could hinder the industry's progress and lead to the implementation of stricter regulations.
ETFs holding the EV stock are sharply underperforming the market this year.