Trump’s DJT Jumps, MAGA Bumps as Debate Nears
Trump’s stock rose nearly 25% midday Monday.
Trump’s stock rose nearly 25% midday Monday.
Semiconductor stocks have led the market rally, buoyed by the artificial intelligence (AI) drive.
U.S. stock futures were mixed early Monday after falling back at the end of last week. Contracts tied to the S&P 500 were up less than 0.1%, while futures for the technology-heavy Nasdaq Composite were falling 0.2%. On Friday, both the S&P and Nasdaq fell about 0.2%, while the Dow finished little changed.
- The U.S. dollar edged lower Monday, consolidating after climbing to a near eight-week high last week, while the euro rose despite weak German business sentiment. At...
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-- Most Asian currencies were fragile on Monday as the dollar steadied near two-month highs, while weakness in the Japanese yen sparked caution over potential...
According to CryptoPotato, the ongoing dispute between the United States Securities and Exchange Commission (SEC) and Ripple Labs regarding the classification of XRP as a security is expected to have significant implications for the entire industry. The case, which has been in progress for several years, is currently in the trial phase.David Hirsh, the Chief of the Crypto Asset and Cyber Unit at the SEC, recently resigned after serving the SEC for over nine years. His resignation came shortly after the SEC reduced its demanded penalty from Ripple from $2 billion to $102.6 million. This reduction was a response to Ripple's legal team's request for a penalty not exceeding $10 million. The SEC justified the revised penalty by comparing it to the gross profit of the violative conduct, resulting in a $102.6 million penalty, significantly higher than the $10 million cap insisted by Ripple.However, Ripple's legal challenges are not limited to the SEC case. Brad Garlinghouse, the company's CEO, is also involved in a separate lawsuit in California. This lawsuit is related to statements he made years ago about his personal investment in XRP. Despite the case proceeding to trial, the presiding judge dismissed several allegations, including those suggesting that Ripple violated federal securities law. Ripple's chief lawyer stated that the New York ruling that XRP is not a security remains undisturbed, and one state law claim based on a 2017 statement is going to trial. Garlinghouse reiterated his support for the statements he made in 2017 and considered the dismissal of allegations a significant victory for the company.
-- The Japanese yen was fragile on Monday, with the USDJPY pair nearing key intervention levels even as government officials reiterated warnings that they would step...
CBDC developers have made little progress in developing products capable of "preserving privacy," and government is not complaining.
Kanav Kariya announced his resignation amid reports of a pending investigation into Jump Crypto’s activities and several incidents dating back to 2022.