The circumstances behind the mysterious $16 million withdrawal from the Pepecoin (PEPE) project’s multisig wallet have seemingly been revealed, with the finger being pointed at three ex-team members who went rogue. On Aug. 24, the price of PEPE plunged by roughly 15% amid fears of a potential rug-pull after the community spotted that $16 million
The Puerto Rico Oversight Board reached an agreement Friday with several bondholders of Puerto Rico Electric Power Authority debt in a proposed plan of adjustment that offers significantly more of the original value of outstanding bonds to them than to those who did not agree to the plan. BlackRock Financial Management, Nuveen Asset Management, Franklin
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Municipals were steady Friday ahead of a smaller new-issue calendar, while short-term Treasuries were weaker and equities rallied. The two-year muni-to-Treasury ratio Friday was at 63%, the three-year at 65%, the five-year at 66%, the 10-year at 70% and the 30-year at 91%, according to Refinitiv MMD’s 3 p.m. read. ICE Data Services had the
Shoppers walk by a Nordstrom sign at Westfield San Francisco Centre in San Francisco, May 11, 2023. Justin Sullivan | Getty Images Check out the companies making the biggest moves midday: Nordstrom — The department store retailer sank 8.6% even after topping fiscal second-quarter earnings and revenue expectations. Earnings came in 40 cents ahead of
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In a swift and intriguing turn of events, a previously enigmatic Bitcoin (BTC) address managed to catapult itself to the esteemed position of the third-largest holder of BTC. As reported by Cointelegraph on Aug. 22, the address in question accumulated a staggering 118,000 BTC. While its identity has now been attributed to Robinhood, questions still
The Port Authority of New York and New Jersey will bring affirmations of its AA-minus level ratings to its next bond deal. The authority plans to sell $1.08 billion of bonds, according to a preliminary official statement published Thursday. Ity plans to issue two tranches, Series 242 for $535 million and Series 243 for $545
Federal Reserve Chair Jerome Powell spoke today and in his Jackson Hole speech he cautioned that inflation remains too high and that the central bank remains open to raising rates further if needed. The remarks by Powell strengthen the narrative that interest rates are likely to remain higher for longer. However, a positive sign is that after
Wells Fargo is eligible to underwrite municipal bonds in Texas after the state attorney general’s office said Friday it was unable to determine that the investment bank discriminates against the firearm industry. A review of Wells Fargo’s standing letter of compliance with a Texas law prohibiting state and local government contracts with companies that discriminate
On Wednesday the Internal Revenue Service issued a notice of proposed adverse determination to the Port of Port Arthur Navigation District of Jefferson County, Texas, indicating that a 2017 $55 million bond issuance will be considered taxable, though attorneys caution that such situations nearly always resolve without impact to the investors. According to the notice posted on
California has expanded the ability of its local agencies to use progressive design-build contracts for certain infrastructure projects in a bid to control costs and remain on schedule. Gov. Gavin Newsom in July signed into law the latest progressive design-build measure, Senate Bill 146, which allows the Department of Water Resources and the California Department
High-rise tower buildings along the central Sheikh Zayed Road in Dubai on July 3, 2023. Karim Sahib | Afp | Getty Images Dubai’s luxury home prices surged by nearly 50% in the year up until June, maintaining its top ranking for the eighth consecutive quarter, according to a new report by Knight Frank. According to data
Donald Trump has surrendered to authorities in Atlanta, Georgia, where he faces 13 criminal charges over alleged attempts to subvert the results of the 2020 presidential election. The 77-year-old, who is the clear frontrunner in the race to again become the Republican candidate for the White House, was booked in Fulton County and photographed, before
The price of the frog-themed memecoin Pepe (PEPE) has plunged nearly 15% after recent changes to a multisig wallet and new token transfers ignited fears of a “rug pull” by its developers. The allegations — as well as the negative price action — came as $16 million worth of Pepe tokens were sent from the developers’
Investment firms ARK Invest and 21Shares have teamed up to apply for two Ethereum futures exchange-traded funds after reports emerged last week that the United States securities regulator could soon begin approving applications. The two proposed Ethereum futures ETFs are “ARK 21Shares Active Ethereum Futures ETF” (ARKZ) and the “ARK 21Shares Active Bitcoin Ethereum Strategy
Municipals saw some weakness in spots Thursday as outflows from muni mutual funds continued. U.S. Treasury yields rose and equities sold off ahead of Fed Chairman Jerome Powell’s Friday Jackson Hole speech. The two-year muni-to-Treasury ratio Thursday was at 64%, the three-year at 65%, the five-year at 67%, the 10-year at 70% and the 30-year
Connecticut’s first offshore wind farm is one step closer to reality after a federal ruling came down this week. On Tuesday, the Bureau of Ocean Energy issued a “record of decision” on a federal environmental review of Revolution Wind, a 704-megawatt offshore wind farm planned for development off the coast of the state in a
Twitter polls and Reddit forums suggest that around 70% of people find it difficult to be rude to ChatGPT, while around 16% are fine treating the chatbot like an AI slave.The overall feeling seems to be that if you treat an AI that behaves like a human badly, you’ll be more likely to fall into
Had you perused the list of amenities in an upscale newer condominium building at the end of last decade, you might have seen mention of a business center or conference room. For that era, those were nice — but hardly make-or-break — amenity suite extras. In between then and now, a minor little blip called