Author: News Desk

HIVE Digital Technologies Ltd., a Vancouver-based cryptocurrency mining firm, reported an enhancement in its Bitcoin mining capabilities and reserves in February 2024, despite a slight decrease in production compared to January. In the previous month, the company mined 234.6 Bitcoins, averaging 7.6 per day, but saw a reduction to 200 Bitcoins in February, with a daily average of 6.9. Despite this, HIVE achieved an impressive hashrate of 4.06 Exahash per second (EH/s), translating to an average of 60.5 Bitcoins per Exahash, thanks to the integration of Bitmain’s S21 Antminers into their operations. These advancements have not only improved efficiency but…

Bank of America (BAC.N), Merrill Lynch, and Wells Fargo have introduced spot bitcoin exchange-traded funds (ETFs) to eligible wealth management clients, reflecting the rising interest in this asset class. According to a source familiar with Bank of America’s plans, these ETFs have been accessible to clients for several weeks following the Securities and Exchange Commission’s (SEC) approval of such investment vehicles in January. “Spot bitcoin ETFs are available for unsolicited purchases through an advisor with Wells Fargo Advisors or through our online WellsTrade platform,” stated Wells Fargo in an email on Thursday, outlining accessibility options for interested investors. Spot bitcoin…

Bitcoin’s value reached a record-breaking $69,000, as reported by Coinbase, marking a significant milestone in the cryptocurrency’s history. This price surge is largely attributed to the growing interest in Bitcoin, especially with the recent launch of Bitcoin exchange-traded funds (ETFs) in the U.S., signifying a new wave of investment in the cryptocurrency sector. The introduction of Bitcoin ETFs in the United States has played a crucial role in Bitcoin’s recent price appreciation. According to Cointelegraph, these ETFs have significantly contributed to the rise in Bitcoin’s value, underscoring their importance in the cryptocurrency market. Despite achieving new highs, Bitcoin is known…

eToro, the trading and investment platform, has named Inès de Dinechin as Special Adviser for its operations in France. Dinechin will collaborate closely with eToro’s management team and the local French team led by Emmanuel Sackman to support the company’s growth strategy. Dinechin brings a wealth of experience from her career, having served on the Board of Directors at Quintet Private Bank in various significant roles including Chair of the Audit Committee and Chair of the Investment Committee. She also served on the Board of Directors at Bank of America Europe DAC, enhancing her financial acumen as a member of…

BidX Markets, headquartered in London, has undergone a rebranding initiative, effective from February 28, 2024, and is now known as Multi Asset Solutions Limited, as officially documented with the UK government. Specialising in liquidity solutions, Multi Asset Solutions caters to a diverse clientele within the financial markets, offering bespoke access to liquidity, connectivity, and distribution services tailored for brokers, asset managers, and funds. In the previous year, BidX Markets introduced an enticing offer, presenting an opportunity for clients to earn interest of up to 5.1% on uninvested cash balances, with the most lucrative rates available for USD and GBP. CEO…

The fintech company United Fintech Group Limited has secured strategic investments from banking giants BNP Paribas and Citigroup, marking a significant shift towards collaborative fintech innovation within the industry. This marks the first instance of major banks backing United Fintech, signifying a move towards increased cooperation between financial institutions and fintech providers. Both BNP Paribas and Citi will be granted rotating seats on United Fintech’s board of directors, enabling them to contribute to the strategic direction of the platform. Christian Frahm, CEO of United Fintech, hailed the investments as a testament to forward-thinking leadership and predicted that more financial institutions…

Warren Buffett, on Saturday, sought to reassure investors about the long-term prospects of his conglomerate Berkshire Hathaway (BRKa.N), while also mourning the recent loss of his long-serving deputy, Charlie Munger. In his widely-read annual letter to Berkshire shareholders, Buffett emphasised the resilience of his over $900 billion conglomerate, suggesting it could weather even unprecedented financial storms. “Berkshire is built to last,” Buffett affirmed. However, he tempered expectations regarding Berkshire’s stock performance, acknowledging that while the company should outperform the average American corporation, its substantial size precludes the possibility of extraordinary growth. “There remain only a handful of companies in this…

Cryptocurrency exchange Kraken has lodged a motion to dismiss the lawsuit filed by the US Securities and Exchange Commission (SEC). The legal action, instigated subsequent to Kraken’s vocal testimony before Congressional committees, has sparked a contentious discussion regarding the parameters of regulatory jurisdiction. Kraken’s testimony, delivered on May 10, 2023, highlighted its apprehensions regarding the absence of comprehensive regulation governing the digital asset sector. The exchange stressed the need for bespoke regulations to protect consumers and investors, while also advocating for constraints on the SEC’s authority in formulating regulations for crypto exchanges. The SEC’s decision to sue Kraken, perceived by…

The integration of DXTrade with the proprietary trading platform For Traders is nearing completion amidst unfolding developments in the proprietary trading arena. This move reflects a trend in the sector, where companies are forming new partnerships to navigate regulatory challenges. Formerly known as Billions Club, For Traders, helmed by CEO Jakub Roz, is headquartered in the United Arab Emirates. As per propfirmmatch.com, the company has collaborated with Purple Trading and offers account sizes ranging from $5,000 to $200,000. On February 14, Funding Pips, a prominent trader funding firm, suddenly halted its operations, sparking uncertainty across the proprietary trading sector. MetaQuotes’…

Spanish oil company Repsol (REP.MC) has announced plans to distribute up to 10 billion euros (£8.6 billion) to its shareholders in dividends and buybacks by 2027 as part of its shift towards renewable energy and biofuels. This move has propelled its shares upwards. Despite a significant drop in profits from the peak levels seen in 2022 following the surge in oil and gas prices due to Russia’s invasion of Ukraine, Repsol is following suit with other major oil companies in offering substantial returns to its shareholders. Repsol, with a market value of 16.7 billion euros as of Wednesday, has committed…