New York Financial News

United States-based cryptocurrency exchange Gemini has announced legal action against the conglomerate Digital Currency Group (DCG) and its CEO Barry Silbert, claiming “fraud against creditors”.

Even as the crypto market returns to form, celebrities are still feeling the sting of manifold industry disasters and frauds last year that they unwittingly helped promote. 

Federal prosecutors say a former Indiana congressman should pay nearly $1.4 million to cover the legal bills of companies forced to incur expenses when he was prosecuted on insider trading charges

Uber Eats, DoorDash and Grubhub have sued New York City to block its new minimum pay rules for food delivery workers

Jesse Powell, the co-founder and former CEO of Kraken, a prominent cryptocurrency exchange, has become the subject of a federal investigation into allegations of hacking and cyberstalking involving a non-profit organization. 

Upcoming professional Twenty20 cricket league in the US, Major League Cricket (MLC) has signed media rights partnership in India with Viacom18 Media Private Limited’s sports network. The league, operated by American Cricket Enterprises (ACE) and sanctioned by USA Cricket, will be covered on OTT platform JioCinema and broadcast television coverage on Sports18, beginning July.

Wordle is an amazing word puzzle game. It has become very popular amongst word puzzle games worldwide. Wordle can be played online as it is an internet-based game. It can be played on mobile browsers or PCs. Engineer Josh Wardle designed the game, Wordle requires you to decipher a five-letter word in six attempts. Every wrong entry costs a chance. Josh Wardle designed it for his family initially and later it was bought by The New. York Times. Wordle is accessible to people through NYT Website. It does not require any fishy sign-ins or log-ins. Earlier a vocabulary of previously played Wordle challenges was available on the website but now it has been taken off.

Reliance owned Viacom 18 bagged media rights for broadcasting the first ever edition of Major League Cricket (MLC) on Friday, the company said in a release. While the details of the deal were not mentioned, the Reliance flagship announced that the coverage will be on multiple platforms including live streaming on JioCinema and broadcast television coverage on Sports18.

Reddit announced in April that it planned to allow third parties access to its application programming interface, or API, data. In an interview with the New York Times, Huffman had argued that popular chatbots on the market such as Google's Bard, OpenAI's ChatGPT and Microsoft's Bing Chat were trained using Reddit's API data.

The co-chief operating officer of Sega has called play-to-earn games “boring” amid the firm’s retreat from franchising some of its hottest properties to the blockchain gaming space.

New York Times reported. Threads currently allows users to share posts with upto 500 characters and videos of upto 5 minutes.

The NY Fed's New York Innovation Center worked with banks - including Citi, HSBC and Wells Fargo - as well as Swift and SETL on the PoC exploring a Regulated Liability Network (RLN), which is envisioned as an interoperable network for wholesale payments operating on a shared multi-entity distributed ledger.The experiment was designed to see whether shared ledger technology could tackle some of the frictions - such as speed, cost, off-hours availability, and the settlement process - that traditional payment systems suffer from.A working group split into three stream looking at the business applicability, technical feasibility, and legal viability of using shared ledger technology to settle the liabilities of regulated financial institutions through the transfer of central bank money. The business workstream concluded that a global, near real-time, 24/7, dollar payment system could be delivered through the RLN concept, enhancing the processing of cross-border payments denominated in USD.

The United States Federal Bureau of Investigations (FBI) reportedly searched the home of Kraken co-founder Jesse Powell in March as part of an investigation into claims he hacked and cyber-stalked a nonprofit arts group.

Investing.com — Barely $3 — that’s all the buffer gold had at Thursday’s lows for staying above $1,900 support as prices of the yellow metal tumbled on signs that the U.S. jobs report for June could surprise to the upside and make the Fed more hawkish.

With the changing demographics in the United States, the financial advice industry may finally be reaching the realization it needs to hire more African American financial advisors, a severely underrepresented group in mainstream wealth management.

The Federal Reserve Bank of New York’s Innovation Center (NYIC) has completed its proof-of-concept of a regulated liability network (RLN) in conjunction with nine large financial institutions and the Swift network. The project created theoretical infrastructure to exchange and settle commercial bank deposit tokens and central bank liabilities using distributed ledger technology and a simulated central bank digital currency (CBDC) in the United States.

The sponsorship deal between defunct cryptocurrency exchange FTX and Taylor Swift was reportedly called off at the request of former CEO Sam Bankman-Fried (SBF), and not the singer-songwriter, as many reports have suggested.

By Anirban Sen

Investing.com — Another week of U.S. crude and fuel draws and another drop in oil prices instead, with the market being fixated with rate hike worries rather than healthy summer demand for energy. 

The Teamsters, the union representing the workers, has set multiple deadlines for UPS negotiators to present their «last, best, and final» offer to the unionized employees in recent days. Union officials have accused UPS of presenting an unacceptable offer, specifically related to the economic package. UPS, on the other hand, has countered that it was the Teamsters who abandoned negotiations despite offering a historic proposal that builds upon their industry-leading pay.

Soaring daily temperatures, wildfires in Canada, inexplicably hot ocean currents—our worries around climate change have intensified. There is another fear out there this year, though mixed with frenzied excitement: the worry of whether we have created a Frankenstein’s monster in the quest for artificial intelligence (AI). My fears, however, are not as much about an AI agent becoming more intelligent than us, as two things more fundamental and immediate.