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Kik, the messaging app that turned to develop its own cryptocurrency, Kin, will continue doing so after it recently changed its mind to cancel. However, this isn’t necessarily by the accord of the once owners. Instead, a new company, MediaLab, has purchased Kik and will ensure than Kin continues development. MediaLab, according to a blog…
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After a failed attempt to go public, WeWork is in the middle of another problem. The company’s cash is expected to dry up in the middle of November, and its largest investor SoftBank is now talking to JP Morgan Chase & Co (JPM) to bail out the company. A financial package for WeWork Co-working space…
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MGM Resorts International (MGM) made a major announcement about two of its popular Las Vegas resorts. The company said that it is planning to sell Circus Circus and Bellagio in two separate deals which would bring $5 billion in cash for the company. The casino operator will be able to rev up its balance sheet…
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Zcash (ZEC), a popular privacy coin in the world of cryptocurrency, is looking to build part of its project on the Ethereum blockchain. According to many publications in the space, it’s looking specifically to build on Ethereum’s decentralized finance (DeFi) network. The DeFi network is essentially financial applications built on top of the network. So,…
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Ethereum (ETH) became the most correlated cryptocurrency in the market during Q3. This is according to a recent report released by Binance Research a few hours ago. Bitcoin (BTC) and Ethereum registered a correlation coefficient of 0.81 over the third quarter of 2019. The correlation coefficient is used to measure how strong the relationship between…
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London based Fintech company Nivaura is welcoming Chris Jones, former Managing Director and Global Head of Local Currency Syndicate at HSBC (NYSE: HSBC), to head its structure and product strategy. This became necessary as the company is expanding its business, a press release says. Jones had worked at HSBC for 15 years and has rich…
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The Swiss National Bank (SNB) and the SIX exchange, one of the largest in Europe, will be exploring different Central Bank Digital Currency (CBDC) solutions for market participants. SNB And SIX Analyze CBDCs Together According to some reports, these two financial institutions will be exploring how to make CBDCs available for trading and settlement among…
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In an effort to reduce costs and make it’s systems more competitive, German financial giant Deutsche Bank (DB) has decided to make a major technology shift. The strategy shift at the bank will see it dedicating billions of dollars to developing innovative technological infrastructures. The problem at Deutsche Bank The problem with most banks is…
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The New York State Department of Financial Services (NYDFS) is currently hiring a deputy superintendent that would have a focus on cryptocurrencies. The NYDFS released the information in an announcement of the intention to fill a job vacancy published on October 1. NYDFS Searches For Deputy Superintendent With Crypto Knowledge According to the job posting…
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Retail giant Walmart Inc. (WMT) on Thursday said that it would be piloting new healthcare programs in the US. The program will start from January 1 for its employees and will aim to cut their healthcare costs. This is the second biggest expense for the retailer after wages. What is the new program all about?…
