Week Financial News

Applications for unemployment benefits fell last week, showing the U.S. labor market remains strong as other signs point to a cooling economy.

The price of Dogecoin has risen by 6% in the past 24 hours, with its jump to $0.075820 today also representing a 13% gain in a week.

The Labor Department releases its February consumer-price index, a closely watched measure of what consumers pay for goods and services. Consumer prices rose 6.4% in January from a year earlier, reflecting a slight cooling of still-high inflation.

BEIJING — Chinese President Xi Jinping is set to visit Russia from March 20 to 22, China's Ministry of Foreign Affairs announced Friday.

It’s been a big week for BNB, the cryptocurrency that power’s the Binance Smart Chain. After tumbling to two-month lows late last week in the mid-$260s amid generalized risk-off across asset classes amid concerns about US bank failures, BNB has seen a stunning rebound.

Applications for unemployment benefits fell last week, showing the U.S. labor market remains strong as other signs point to a cooling economy.

The Labor Department releases its February consumer-price index, a closely watched measure of what consumers pay for goods and services. Consumer prices rose 6.4% in January from a year earlier, reflecting a slight cooling of still-high inflation.

BEIJING — Chinese tech company Baidu on Thursday gave the public a peek at what its Chinese-language ChatGPT alternative can do, while warning of its imperfections.

The Labor Department releases its February consumer-price index, a closely watched measure of what consumers pay for goods and services. Consumer prices rose 6.4% in January from a year earlier, reflecting a slight cooling of still-high inflation.

The Labor Department releases its February consumer-price index, a closely watched measure of what consumers pay for goods and services. Consumer prices rose 6.4% in January from a year earlier, reflecting a slight cooling of still-high inflation.

Digital asset investment products saw their highest-ever weekly outflow last week, according to the latest Digital Asset Fund Flows Weekly Report released by CoinShares. The $255 million in net outflows amounted to 1.0% of total assets under management (AuM) fleeing from the space.

The Labor Department releases its February consumer-price index, a closely watched measure of what consumers pay for goods and services. Consumer prices rose 6.4% in January from a year earlier, reflecting a slight cooling of still-high inflation.

DoubleLine Capital CEO Jeffrey Gundlach believes that the Federal Reserve will still pull the trigger on a small rate hike next week despite the ongoing chaos in the banking sector that prompted extraordinary rescue action from regulators.

Polkadot Insider recently revealed a major bullish signal for DOT as it was found that the coin was only behind Ethereum [ETH] on the list of blockchains in terms of Altrank.

Here is our weekly collection of digital asset listing and delisting, trading pair-related announcements by crypto exchanges that we found last week and today.

The cryptocurrency market has had a tumultuous few days; Bitcoin and other digital assets took a tumble before recovering late in the week to recoup some of their losses.  

The Labor Department releases its February consumer-price index, a closely watched measure of what consumers pay for goods and services. Consumer prices rose 6.4% in January from a year earlier, reflecting a slight cooling of still-high inflation.

Bitcoin (BTC) begins a new week with a bullish surge above $22,000 as the Federal Reserve injects liquidity into the United States economy.

Bitcoin, which began trading at the US$22,000 level on Monday, dropped to its lowest point since January 2021, reaching US$19,000. Similarly, Ethereum, the second-largest cryptocurrency, also experienced a drop, falling to the US$1,300 level. As a result, both of these cryptocurrencies experienced significant losses in their weekly gains. However, following the release of the US jobs data on Friday, Bitcoin and other cryptocurrencies experienced a rebound, as the US added 311,000 jobs in February, surpassing predictions. Over the past 24 hours, both Bitcoin and Ethereum gained 3%. Investors and traders reacted to the recent statement by US Fed Chair Jerome Powell regarding potential interest rate hikes, resulting in sell-offs and increased concerns over aggressive interest rate policies. However, the decline in the crypto market may also be attributed to uncertainties surrounding Silvergate Bank broadly this week. In November, the bank faced significant withdrawals of $8.1 billion from investors following the FTX incident, leading to a chain reaction of negative consequences, including the sale of debt at a loss of $718 million. The bank's latest financial report showed staggering losses of $1 billion for Q4 and $949 million for the entire year of 2022, in contrast to the $76 million profit recorded in 2021. The bank's announcement of liquidation this week has also significantly impacted the crypto market.

Traders dumped risky assets following the crisis and failure of Silicon Valley Bank (SVB). The S&P 500 Index plunged 4.55% while Bitcoin (BTC) is down about 9% this week. 

Bitcoin is having its worst week since November as an equity selloff, fear over higher interest rates and an escalating US regulatory crackdown on crypto combine to hurt investor sentiment. The largest token fell as much 2.1% on Friday, breaking below $20,000 for the first time since January, after falling more than 8% on Thursday. Ether added to losses and smaller coins like Solana and Cardano struggled for traction. A rout in US bank stocks on Thursday stoked concerns that rising borrowing costs are creating a treacherous economic and investing outlook. In New York, the state regulator sued KuCoin, a popular crypto exchange, and in the process claimed in court that second-largest token Ether is a security. The US Securities & Exchange Commission also contends that many cryptocoins are securities, a designation that would potentially make them harder to trade. “The selloff in cryptocurrencies appears to be largely equity-market led,” said John Toro, head of trading at digital-asset exchange Independent Reserve. He added that the wind-down of crypto-friendly bank Silvergate Capital Corp. and President Joe Biden’s proposal for a series of tax increases on investors and top-earning Americans contributed to the downdraft.