Cryptocurrencies fell sharply on Friday as a result of rash selling that brought bitcoin to a three-week low. Bitcoin dropped as much as 7.7% to $21,404 in a short period of time; Ether was down 8.8% at $1,685 by last trading. On Friday, cryptocurrencies dropped quickly as a result of rash selling that brought bitcoin to a three-week low. Around 0640 GMT throughout the European morning, Bitcoin dropped as much as 7.7% to $21,404 in a short period of time. At 1138 GMT, it had marginally rebounded before continuing to fall, down 8.2% on the day, to trade around $21,400.…
Author: Web Desk
CPPA files application with NEPRA seeking power tariff increase by Rs4.69 per unit. Consumers will suffer extra burden of more than Rs65 billion as a result of the increase. The National Electric Power Regulatory Authority (NEPRA) will take up CPPA’s request on August 31. ISLAMABAD: Electricity is likely to become more expensive as the Central Power Purchasing Agency (CPPA) has filed an application with NEPRA seeking power tariff increase by Rs4.69 paisas per unit. In order to account for the monthly fuel adjustment for July, the Central Power Purchasing Agency (CPPA) has requested in writing to the National Electric Power…
FTX rode the cryptocurrency mania to a billion dollars in sales last year. Profitable and experiencing rapid global expansion, FTX saw explosive growth. However, when retail trading volumes plummeted, it reported $808.3 million in revenue in Q2 of this year. According to internal records seen by CNBC, FTX rode the cryptocurrency mania to a billion dollars in sales last year while growing its global footprint through a flurry of acquisitions. The audited financials provide a unique window into the startup’s finances that is privately held. Profitable and experiencing rapid global expansion, FTX saw explosive growth. Revenue for the privately held…
Employees will have travel costs paid for if they can’t get an abortion within a 100-mile radius. Walmart is the largest private employer in the United States. The company has more than 4,700 stores and is headquartered in Arkansas, which has strict abortion laws. According to an internal memo, Walmart told its employees on Friday that it will give them more coverage for abortions and travel related to them. About two months ago, the Supreme Court ruled that the federal right to access the procedure was no longer valid. Effective immediately, Walmart’s health-care plans will cover abortion “when there is…
Uk inflation: In July, the rate of inflation in the UK went up to 10.1%. This is the first time in more than 40 years that the annual rate of inflation has gone up by more than 10%. The increase in the consumer price index, which was higher than what economists expected (9.8%), went up from 9.4% in June. The rise shows how hard it is for the Bank of England to bring down inflation, which has spread from high energy prices to other goods and services across the economy. The Office for National Statistics said that the main reason…
As the conversation about interoperability keeps changing, more and more investors and developers are looking at cross-chain blockchain networks and comparing Polkadot and Cosmos (ATOM). On the surface, these platforms look like they have a lot in common. But each one is different in small ways because of the way it was built. Many blockchains that can work with each other can be found in the Web3 landscape. Concerns about scaling the number one smart contract network, Ethereum, have been raised by its high gas prices. In the debate about “Ethereum killers,” some of the newest blockchains that aim to…
US jobs data: US government bonds fell and stocks went down after employment data showed that jobs were in high demand. This made traders more likely to think that the Federal Reserve will raise interest rates. Treasury yields went up sharply after the closely watched US jobs data showed that employers added 528,000 jobs in July. This was more than twice as many jobs as economists had predicted (250,000) and a big jump from June when they added only 398,000 jobs. The two-year Treasury yield, which is affected by what people think will happen with monetary policy, went up by…