SK Battery America, a subsidiary of South Korean firm SK On, one of the world’s largest battery makers, is scaling back production on several fronts in response to a changing market for the vehicles. As an EV market turbocharged by federal incentives and high-set expectations cools off and major producers weigh cost-saving measures, SK said
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When memecoins go parabolic, it’s usually a market top signal and a warning that investors’ euphoria has peaked. The market witnessed similar speculative fury in the 2020 to 2021 bull market when Dogecoin (DOGE) chased after $1, Shiba Inu (SHIB) rallied by tens of thousands of percent, and NFT prices hit eye-watering six to seven-digit
In the quest to lure employees back to the desks they abandoned during Covid, office building owners and employers have tried everything from ping pong and billiard tables to comped lunches and free beer. Lately another gambit has floated, one leveraging the novel idea office workers will be more inclined to return to offices adorned
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Microsoft has hired Sam Altman and Greg Brockman to lead a team conducting artificial intelligence research, days after the pair were pushed out of OpenAI, the company they co-founded. Writing on X on Monday, Microsoft
Bitcoin (BTC) has been consolidating above $35,000 for several days, but the bulls have failed to resume the uptrend above $38,000. This suggests hesitation to buy at higher levels. BitGo CEO Mike Belshe said in a recent interview with Bloomberg that there is likely to be another round of rejections of the spot Bitcoin exchange-traded
Mike Belshe, CEO of cryptocurrency exchange BitGo, has suggested that all indications are leaning towards a favorable outcome for a spot Bitcoin (BTC) exchange-traded fund (ETF). However, he emphasized that the journey ahead won’t be without challenges. In an interview with Bloomberg on November 16, Belshe explained that based on the discussions taking place between
Solana (SOL) has reached new yearly highs, gaining more than 17% the day after ARK Invest CEO Cathie Wood lauded the network for its efficiency and cost-effectiveness. In a Nov. 15 CNBC interview, Wood described the Solana network as a major infrastructure player in the wider blockchain ecosystem and added it had been doing a
Gas fees on Ethereum layer-2 Polygon (MATIC) surged more than 1,000% to reach a peak of $0.10 as users inundated the network with the minting of Ordinals-inspired tokens dubbed POLS. In a Nov. 16 X (formerly Twitter) post Polygon founder Sandeep Nailwal shared his surprise at the elevated transaction activity on the network saying the
Former US president Donald Trump leaves the court room of the State Supreme court on the first day of his civil fraud trial on October 2, 2023 in New York City. Kena Betancur | AFP | Getty Images A New York judge on Friday denied a request by Donald Trump and his co-defendants for a
The prospect of a spot Bitcoin (BTC) exchange-traded fund (ETF) being approved soon in the United States has increased demand for the major cryptocurrency, leading to a surge in transaction fees. The Bitcoin blockchain reached $11.6 million in fees paid on Nov. 16 according to statistics from CryptoFees. At the time of writing, YCharts data
Bitcoin (BTC) circled $36,000 after the Nov. 16 Wall Street open as analysis hoped for a deeper BTC price comedown. BTC/USD 1-day chart. Source: TradingView Bitcoin traders map out likely bottoms Data from Cointelegraph Markets Pro and TradingView followed a retracement from intraday highs of $36,600. Having failed to establish a breakout beyond 18-month highs
A construction site of residential buildings on the Elbe dike near downtown Wittenberg. Soeren Stache | Picture Alliance | Getty Images Germany’s Olaf Scholz once set the goal of building 400,000 new homes a year, even before he become chancellor. Fast forward two years, and German housebuilding looks like it’s collapsing, putting pressure on both
Iran’s top diplomat has revealed that Tehran told the US through back channels that it did not want the Israel-Hamas war to spread further, but also warned Washington that regional conflict could be unavoidable if Israeli attacks on Gaza continue. “Over the past 40 days, messages have been exchanged between Iran and the US, via
Tether is planning a large-scale expansion into Bitcoin (BTC) mining, according to Paolo Ardoino, who is expected to take the helm at the company soon. The stablecoin firm may spend around $500 million in the next six months on the construction of mining facilities and investments in other miners, Ardoino told Bloomberg in an interview.
It has been a good year for Jaime Alvarez. The 45-year-old was named Oregon’s director of debt management in October, after serving as deputy director/senior debt program manager for just under two years. A few weeks after his promotion, he found out the state’s March $989 million general obligation bond sale was named Far West
A recent video from blockchain security firm CertiK made a series of “inaccurate” claims about a potential security vulnerability in Solana’s crypto-enabled Saga phone, Solana Labs has said. In a Nov. 15 post on X (formerly Twitter), CertiK claimed the Saga phone contained a “critical vulnerability” known as a “bootloader unlock” attack which would supposedly
Potential homebuyers attend an open house in Seattle. Mike Kane | Bloomberg | Getty Images Current homeowners and potential homebuyers are responding to lower mortgage rates, albeit slowly. Mortgage demand rose 2.8% last week, compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. That was the second straight week of
As the Infrastructure Investment and Jobs Act nears its second anniversary, the Biden administration is still striving to close the gap between awarding transportation grants and actually getting the cash to the states and cities that have won the money. Shortening that timeline remains a top priority for the administration, Federal Highway Administration CFO Brian
Stay informed with free updates Simply sign up to the US-China relations myFT Digest — delivered directly to your inbox. US President Joe Biden and his Chinese counterpart Xi Jinping have reached an agreement to resume communications between their countries’ militaries at a summit in San Francisco designed to stabilise relations after several years of
On Nov. 15, several altcoins continued to show strength alongside Bitcoin (BTC), which notched an intra-day high at $37,400. Leading into the week, DYDX, Solana’s SOL (SOL) and Avalanche’s AVAX (AVAX) currently reflect double-digit gains, with each chasing after new year-to-date highs. The sustained bullish price action from altcoins has led some analysts to declare
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