20% goes back to CeFi, DeFi continues
PARIS — Celsius and Voyager Digital were once two of the biggest names in the crypto lending space, offering retail investors outrageous annual returns, sometimes approaching 20%. Now, both are bankrupt as a drop in token prices, along with an erosion of liquidity following a series of rate hikes by the Federal Reserve, exposed these and other projects that promised unsustainable returns. “Central banks will likely pull $3 trillion of liquidity from markets globally over the next 18 months,” said Alkesh Shah, global crypto and digital asset strategist at Bank of America. But the easy money laundering is being welcomed…
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US Economy Shrinks: Enters Technical Recession and Top Financial News for July 29
seb_ra / iStock.com It’s the last Friday in July, wait, already?! Time to catch up with today’s major financial stories. See you in August! The big takeaway: The US economy shrinks for the second consecutive quarter as it enters a technical recession Real gross domestic product (GDP) fell 0.9% in the second quarter, according to the Bureau of Economic Analysis (BEA), following a 1.6% drop in the first quarter. This turn of events would technically mean that the economy is in recession. However, if we have has already entered recession or not depends on who you ask. Read the full…
Read More »US stocks close higher despite more unpleasant inflation news
Stocks are ending higher on Wall Street Friday as investors closed out the best month for the S&P 500 since November 2020. New data showed inflation rose the most in four decades last month , but sentiment was buoyed by positive earnings news from tech giants Apple. and Amazon, as well as oil giants Exxon and Chevron. The tech-heavy Nasdaq ended July with its biggest gain since April 2020. Stocks have gained momentum this month, boosted by better-than-expected corporate earnings and falling bond yields, which they have pulled back after shooting up much of this year on bullish expectations. interest…
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Go to Knowledge: US Economy Shrinks: Enters Technical Recession and Top Financial News of July 29
seb_ra / iStock.com It’s the last Friday in July, wait, already?! It’s time to catch up on today’s biggest financial stories. See you in August! The big takeaway: The US economy shrinks for the second consecutive quarter as it enters a technical recession Real gross domestic product (GDP) fell 0.9% in the second quarter, according to the Bureau of Economic Analysis (BEA), following a 1.6% drop in the first quarter. This turn of events would technically mean that the economy is in recession. However, whether or not we’re already in recession depends on who you ask. Bonus Offer: Open a…
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Rebekah Vardy loses ‘Wagatha Christie’ legal case against Coleen Rooney
Reality TV star Rebekah Vardy lost her lawsuit against TV personality Coleen Rooney at London’s High Court on Friday in a case that highlights how social media has become a new battleground for defamation lawsuits. the judge it failed in favor of Rooneyputting an end to the dramatic case – called “Wagatha Christie” – centered on the wives of the two footballers that has generated world headlines and stories of intrigue in the tabloids. The high-profile lawsuit was brought by Vardy, who is married to Leicester City player Jamie Vardy, against Rooney, wife of Wayne Rooney, a former Manchester United…
Read More »Independent Bank Group, Inc. appoints Paul Langdale as CFO
MCKINNEY, Texas–(BUSINESS THREAD)–Independent Bank Group, Inc. (NASDAQ: IBTX) today announced the appointment of Paul Langdale as Chief Financial Officer. Mr. Langdale replaces Michelle Hickox, who has served as CFO of Independent Bank Group, Inc., and its subsidiary Independent Bank since 2012. Ms. Hickox will continue to serve as an advisor to facilitate the transition until Jan. 1 October 2022. . “I am very grateful for Michelle’s leadership over the years. She was instrumental in helping us emerge as a public company through our IPO in 2013, and since then she has led our accounting and finance teams for a period…
Read More »Attacks, financial issues color GOP US House race in Nashville
NASHVILLE, Tenn. (AP) — Republican dust to determine who is trying flipping a Democratic congressional seat in Nashville this fall has reached its final week, filled with attacks, a candidate’s campaign finance issues and even a lawsuit over a TV ad. As early voting ends in the Aug. 4 primary election, voters in Tennessee’s open 5th Congressional District have become familiar with non-stop TV ads from vaguely named groups blasting any of the top three hopeful fundraisers in the nine-candidate Republican field: Maury County Mayor Andy Ogles, former state House Speaker Beth Harwell and retired Tennessee National Guard Brig. General…
Read More »Rhino Announces Strategic Partnership with AmTrust Financial
NEW YORK, July 29, 2022 /PRNewswire/ — Rhino, the leading real estate technology company and pioneer in security deposit insurance, today announced its partnership with AmTrust Financial to offer 60 million dollars in premium writing capacity for their core product offering. AmTrust Financial, an international property and casualty insurer, will join Rhino’s existing panel of industry-leading insurance companies and reinsurers, increasing Rhino’s total premium underwriting capacity to more than 200 million dollars. Rhino’s partnership with AmTrust Financial will further enhance the company’s ability to support the rapid growth and adoption of its innovative security deposit insurance solution and modernize the…
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