Author: Press Room

Hello and welcome to the FT’s Cryptofinance newsletter. This week we’re looking at the industry’s less-than-inspiring record on Wall Street. Famed investor Benjamin Graham’s verdict that the stock market is short-term voting machine but long-term weighing machine could have been delivered with crypto in mind.This week Circle, which runs the USDC stablecoin, abandoned its bid to list on the New York Stock Exchange when it called time on a $7bn-$9bn deal to merge with Concord Acquisition, a special purpose acquisition vehicle chaired by former Barclays chief Bob Diamond. The deal was announced in the summer of 2021 but suffered constant…

Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.The IMPT presale has raised a total of $16.8 million, with less than three days to go until it comes to an end. The new figure represents an increase of over $1 million in under 24 hours, indicating the extent to which investors are rushing to buy IMPT at a discount before it lists on exchanges.IMPT’s first exchange listings are due on December 14, with Uniswap, LBANK Exchange and Changelly Pro already confirmed to be supporting the new altcoin.…

Sam Bankman-Fried, the founder of the failed crypto exchange FTX, has agreed to testify before the House Financial Services Committee next week as questions and confusion swirl about the collapse of his companies. On Friday, he tweeted that he’s “willing to testify on [December] 13th,” and said he will “try to be helpful, and to shed what like I can” about several of lawmakers’ concerns, including FTX US’ solvency, “pathways” that could return “value” to users, what he thinks about what led to the crash, and, finally, his “own failings.” “I had thought of myself as a model CEO, who…

But experts said Russia’s arms sales to the region are expected to decline because of sanctions on Russia as well as reputational damage to Russian equipment due to its battlefield performance in Ukraine.  Vietnam is ranked among the top buyers of Russia’s defence products, purchasing big-ticket items such as S-300 surface-to-air missile systems, Gepard-class frigates, Kilo-class submarines and Su-30 jet fighters.  “Tensions have erupted between Vietnam and China over the decades, mainly centred on the South China Sea. And Vietnam wants to have a military force in place that can provide a kind of limited deterrence towards China,” Dr Ian…

Check out the companies making headlines before the bell:Lululemon (LULU) – Lululemon slid 7.1% in the premarket after the athletic apparel maker issued a weaker-than-expected outlook. Lululemon reported better-than-expected profit and revenue for its latest quarter, but it saw a smaller-than-expected increase in comparable store sales.Costco (COST) – Costco missed estimates on both the top and bottom lines for its latest quarter as inflation-hit consumers cut back on spending. The warehouse retailer also saw increased operating expenses.Broadcom (AVGO) – Broadcom shares rallied 3.6% in premarket action after the chip maker reported better-than-expected quarterly results and an upbeat outlook. The company…

Deadly attack by rebel dissidents takes place in Cauca, a southwestern region that has seen a surge in violence.Six Colombian soldiers have been killed in fighting with rebel dissidents in the violence-plagued southwestern region of Cauca, the country’s army said, as the government seeks to end a decades-long conflict. Colombia’s military said on Tuesday that the deaths occurred in a clash with dissidents from the Revolutionary Armed Forces of Colombia (FARC), a left-wing rebel group that signed a peace agreement with the government in 2016. President Gustavo Petro, who is pursuing a “total peace” plan with the South American country’s…

Ernie Schicchi thinks like a rat. And it’s a valuable way to think right now, with New York City so overridden with rodents that Mayor Adams wants to appoint a “rat czar” to clean up the place. Having spent 27 years in pest control — and focused on rats for the last 15 — Schicchi understands the rodent mindset. The bad news for humans, the 50-year-old from Freehold, NJ, told The Post, is that “rats are very smart, very resourceful and they learn very quickly.” As to why they are raging more than ever in NYC, Schicchi, co-owner of Alternative Pest…

Didier Deschamps claims that England do not have any weaknesses ahead of Saturday night’s World Cup quarter-final at Al Bayt Stadium.The France head coach praised the qualities of Gareth Southgate’s side and believes pace is one of their key attributes.Asked about England’s weaknesses in his pre-match press conference, he replied: “They don’t have any. All teams have strengths, not all have many weaknesses, but slightly less strong points.World CupBenzema absence has allowed Mbappe and Griezmann to flourish – View from France6 HOURS AGO”England have seen us play four games. At the end of the day, you need to identify areas…

Getir, the Istanbul-based online grocery start-up, has closed its acquisition of German rival Gorillas in a deal that values the combined group at $10bn, as consolidation in the rapid delivery app market accelerates. The deal brings together two of Europe’s biggest beneficiaries of the pandemic’s boom in start-up financing, together raising more than $3bn from venture capitalists since 2020 to grow their services delivering groceries and convenience-store items in as little as 10 minutes. But as investors turned against lossmaking tech start-ups, several smaller grocery apps have already shuttered or been sold, leaving Getir, US-based Gopuff and Germany’s Flink as…

American venture capitalist and billionaire Tim Draper argues that bitcoin (BTC) will lead El Salvador to become one of the richest countries in the world.In an interview with investor Anthony Pompliano, published on Monday, Draper discussed governments turning to bitcoin and adopting ‘the Bitcoin economy’, as well as the benefits of that move.  “There’s only one or two countries in the world who have started to do that. They are […] going to go from the poorest to probably some of the wealthiest countries in the world over the next 40 years because they’ve done it.” “It’s all about freedom and…