Advisors to the Puerto Rico Oversight Board must disclose their financial or other connections to parties in the bankruptcy under a bill signed into law by President Joe Biden on Thursday. The Puerto Rico Recovery Accuracy in Disclosures Act of 2021 requires professionals employed in Puerto Rico debt restructuring cases to file verified statements disclosing
A16z, a VC company with investments in Protocol Labs, Polychain Capital and Opensea among others, is now planning to raise $4.5 billion for its latest fund which is focused solely on cryptocurrencies, according to a report by U.K newspaper Financial Times. Last week, Andreessen Horowitz’ venture capital firm reportedly said it would raise $3.5 billion
While many observers welcomed the bankruptcy judge’s approval of the Puerto Rico Plan of Adjustment, some warned the current restructuring is not a cure all for the island’s underlying fiscal troubles. Participants say there is a long road to sustainable recovery for the island that is dependent on the local government keeping its spending in
Hackers have continued to exploit a critical vulnerability in the cross-chain router protocol (CRP) Multichain that first appeared on Jan 17. Earlier this week, Multichain urged users to revoke approvals for six tokens to protect their assets from being exploited by malicious individuals. However Multichain’s announcement on Jan. 17 encouraged more hackers to try the
Gary Gensler, chairman of the U.S. Securities and Exchange Commission (SEC), speaks during a Senate Banking, Housing and Urban Affairs Committee hearing in Washington, D.C., U.S., on Tuesday, Sept. 14, 2021. Bill Clark | Bloomberg | Getty Images Securities and Exchange Commission Chairman Gary Gensler said Wednesday that the regulator is eyeing tighter disclosure deadlines for hedge
In this article USB PG UNH STT MS SOFI Pampers Diapers, which are manufactured by Procter & Gamble, are displayed in an Associated Supermarket in New York. Ramin Talai | Bloomberg | Getty Images Check out the companies making headlines in midday trading. SoFi – Shares of the mobile financial services company surged more than
There’s nothing like the view of snow-covered ski runs to whet one’s appetite for an easy-care vacation getaway. This stone and wood-sided residence at the Chalet at the Lodge at Vail 2 takes in south-facing vistas of the Gore Range and the slopes in Vail, Colorado. Set near Vail Ski Resort’s Gondola One and the
An ‘Open House’ sign is displayed as potential home buyers arrive at a property for sale in Columbus, Ohio. Ty Wright | Bloomberg | Getty Images Mortgage rates are rushing higher, and last week that caused a major divergence in mortgage demand. Refinancing continued to dry up, but homebuyers appear to be rushing into the
Municipals faced another weaker day with benchmark yield curves seeing two to four basis point cuts, underperforming a slightly better U.S. Treasury market, while equities ended in the red. Munis played catch up to the large selloff in Treasuries since Friday, holding municipal to UST ratios steady. The five-year was at 54%, 68% in 10
Bitcoin (BTC) and select altcoins are showing signs of some buying near support levels. According to Arcane Research, the seven-day average real Bitcoin trading volume has dropped to the lowest level since July 2021. During the previous instance, the sharp drop in volume marked a bottom and led to a strong rally from August to
Municipals outperformed another large selloff in U.S. Treasuries that pushed that market to the highest yields since before the pandemic began while equities also saw massive losses as the markets fully digest an expected March rate hike. Triple-A benchmark yields saw two to four basis point cuts across the curve Tuesday while the 2-, 5-
Fear and volatility remain the theme of the week as Bitcoin (BTC) continues to face stiff resistance near the $42,000 price level and stock markets were also hard hit on Jan. 18. Investor fear over this year’s proposed rate hikes continue to apply bearish pressure and at the closing bell the DOW was down 530
In this article GS People walk along Wall Street in the rain on July 08, 2021 in New York City. Spencer Platt | Getty Images Wall Street firms are playing catch up with employee compensation, boosting pay in the second year of a deal-making and trading boom. That’s what Goldman Sachs CEO David Solomon conceded
A Peloton office sign is seen near a person riding a bicycle as the city moves into Phase 3 of re-opening following restrictions imposed to curb the coronavirus pandemic on July 16, 2020 in New York City. Alexi Rosenfeld | Getty Images Check out the companies making headlines in midday trading. Activision Blizzard — The
During the first half of next year, New York City will welcome a new consumer-facing listing portal, called CitySnap. Piloted by the Real Estate Board of New York (REBNY), CitySnap brings a long-awaited challenge to the ongoing dominance of StreetEasy. How it will fare remains to be seen, but it is extremely well-funded and many
Potential home buyers walk past an ‘Open House’ sign displayed in the front yard of a property for sale in Columbus, Ohio. Ty Wright | Bloomberg | Getty Images The average rate on the popular 30-year fixed mortgage hit 3.7% Tuesday morning, according to Mortgage News Daily. That is the highest since early April 2020
U.S. District Court Judge Laura Taylor Swain approved the Plan of Adjustment for Puerto Rico’s central government bonds and obligations Tuesday afternoon, setting the stage for the commonwealth to exit bankruptcy after more than four years of intense negotiations over its massive debts. The action sets the restructuring terms for about $33 billion of debts
The global supply chain has become an area of intense focus over the past couple of years and pressures from the pandemic and backlogged ports have led to a massive range of shortages for everyday items. One protocol that is focusing on optimizing supply chain management and building strength based on data from Cointelegraph Markets
While the crypto economy has shed more than 3% in fiat value during the last 24 hours dropping to $2.09 trillion, the top rebase tokens by market capitalization have seen significant losses this week. At the time of writing, the rebase token economy is valued at over $3.2 billion but has lost more than 10%
Newly released transcripts of Federal Reserve policy meetings in 2016 show then-Governors Jerome Powell and Lael Brainard were quick to pivot away from planned interest-rate hikes in the face of risks posed by a stumbling Chinese economy. Both policy makers made clear in the year’s January meeting of the Federal Open Market Committee they believed