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On April 30, Judge Richard Jones sentenced Mr. Zhao to four months in prison, against the US Department of Justice's (DOJ) recommendation of three years. Rabia Anwar, a London-based financial services lawyer, told crypto.news that Chao and FTX founder Sam Bankman-Freed have been involved in the The stories “were tied together,” he said. She explained: “Although Mr. Zhao may have mentored Mr. Bankman Freed in the past before their relationship broke down, the way the two industry leaders conducted their respective businesses was very different. Mr. Bankman Fried was charged with fraud, including embezzling customer funds (some described it as…
Eurozone gross domestic product (GDP) grew in the first quarter of 2024, with recession in the rearview mirror. Eurostat, the EU's statistics arm, reported a 0.3% quarter-on-quarter increase in both the euro area and the EU. GDP in the fourth quarter of 2023 decreased by 0.1%. Analysts attribute this positive increase to faster growth in the euro area's four main economies. Consumer prices in April 2024 rose by 2.4% year-on-year, mirroring the trend in March 2024. After persistently high inflation, the region appears to be seeing light at the end of the tunnel. France, Italy, Spain and Germany all outperformed…
The eurozone achieved significant economic growth in the first quarter of 2024, the fastest pace in two years, and allayed fears of looming 'stagflation' in the region.Output in the single currency bloc rose by 0.3% in the first three months of the year, a significant improvement from the stagnant growth recorded in the previous quarter. The growth rate was the highest since the 2022 Ukraine crisis and exceeded economists' expectations, who had expected modest growth of 0.1%.Data from the European Union's statistics agency Eurostat showed annual consumer price inflation was stable at 2.4% in April, in line with March figures…
recently thread On X (formerly Twitter), renowned on-chain analyst Checkmate provided analysis on Bitcoin's future trajectory. The premier cryptocurrency is currently hovering around the $60,000 level, a pivotal moment that reflects the historical pattern of the Bitcoin market cycle. What will happen to Bitcoin in the next six months? Checkmate claims that Bitcoin is in a “chopsolidation” stage. This term was coined to describe a period of stagnation but instability. Based on previous cycles, he suggests this could last about six months, leading to a parabolic growth phase that could last six to 12 months. “Bitcoin's history tends to rhyme,…
The dire market situation for all cryptocurrencies continues and has worsened over the past few hours, with Bitcoin plummeting to a multi-month low of around $57,000. Altcoins followed suit with huge losses, with their total market cap rising to well over $200 billion in the past 36 hours or so. Where is the bottom of Bitcoin? In the always volatile world of cryptocurrencies, a lot can change in a matter of days. Focusing just on the past few days, we can see that Bitcoin price was heading toward $65,000 on Monday morning, but failed to break above that level, and…
Ethereum quickly turned red on April 30th, confirming traders' long-held concerns that ETH was weak and the bull run could end. So far, Ethereum has not only broken above $3,000, but it is likely to fall further and overcome the April 2024 lows around $2,800. Yesterday's bars were notable and widespread, with sellers firmly in control of proceedings. The price trend has so far spilled over to today. Ethereum is down about 10% over the past day as of this writing, mirroring the overall decline seen on the daily chart. The coin is in a flash crash today as sellers…
Written by Amanda CooperLONDON (Reuters) – April's worst monthly performance since late 2022 fell almost 6% on Wednesday as investors pulled money out of cryptocurrencies ahead of the Federal Reserve's upcoming interest rate decision. Ta. The value of the world's most traded cryptocurrency fell nearly 16% in April as investors booked profits on a wild rally that sent its price to a record high of more than $70,000.Bitcoin fell as much as 5.6%, hitting its lowest price since late February. Previously, it fell 4.8% to $57,001, but Ether's losses were more modest, dropping 3.6% to $2,857, also the lowest since…
Eurozone inflation rose 2.4% year-on-year in April 2024, unchanged from March. This is evidenced by preliminary data from Eurostat. Analysts surveyed by Trading Economics also expected euro zone inflation to remain at last month's level. The core inflation rate excluding energy and food costs slowed to 2.7% in April, the lowest level since February 2022 (2.9% in March 2024). As of April, Croatia (4.7%) and Belgium (4.9%) had the highest annual inflation rates among the bloc members, while Lithuania (0.4%) and Finland (0.6%) had the lowest. According to Euronews, April's inflation data could provide the basis for the European Central…
LONDON: Bitcoin fell almost 6% on Wednesday, posting its worst monthly performance in April since late 2022 as investors pulled money out of the cryptocurrency ahead of the Federal Reserve's interest rate decision. . The value of the world's most traded cryptocurrency fell nearly 16% in April as investors booked profits on a ferocious rally that took its price to an all-time high of more than $70,000.Bitcoin fell as much as 5.6%, hitting its lowest price since late February. While the most recent drop was 4.8% to $57,001, Ether's losses were smaller, dropping 3.6% to $2,857, also its lowest since…
People passing by a store in Brussels, Belgium, January 5, 2024 (Xinhua/Zhao Dingzhe)According to IMF forecasts, the euro area economy is expected to grow by 0.8% in 2024 and 1.5% in 2025.BRUSSELS, May 1 (Xinhua) — Economic output in the euro area increased by 0.3 percent on a quarterly basis in the first quarter, the EU's statistical office said on Tuesday.The latest data released by the EU suggests a stronger-than-expected economic recovery and an end to the recession.As the European Central Bank's (ECB) restrictive monetary policy permeates throughout the system, inflation is gradually falling, paving the way for an economic…