Crypto News 

Bittrex to Halt Crypto Trading Services in 31 Countries

“Crypto exchange Bittrex has decided to terminate its services in 31 countries, citing regulatory uncertainties behind the harsh decision” writes Arnab Shome for financemagnates.com. Meanwhile, to penetrate the European market, the exchange is gearing up to open a digital asset exchange based in Liechtenstein.London Summit 2019 Launches the Latest Era in FX and Fintech – Join Now The crypto exchange detailed that it has informed traders based on each of these countries about the termination of trading services via email.This decision to cut short the markets came months after Bitrex…

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News 

This is how far the spotted lanternfly might spread, as feds eye funds for fight

“The spotted lanternfly threatening $18 billion per year worth of Pennsylvania agriculture products could spread throughout the Mid-Atlantic and New England, west into Kansas, and show up on the West Coast, too” writes For Lehighvalleylive Com for nj.com. The Lehigh Valley is part of a 14-county quarantine area in Pennsylvania aimed at restricting the lanternfly’s spread.Click here to learn about 11 ways you can help fight the lanternfly’s spread. Source: nj.com

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News 

Snakes and ladders: SoftBank Vision Fund’s climbing, sliding valuations

“With WeWork trying to raise new capital, SoftBank has proposed a further $5 billion investment in the money-losing startup, sources told Reuters this week” writes Midwest Communications Inc for 95kqds.com. Notable investments: Indian QR code payment app Paytm, online lenders Kabbage and Oaknorth and online insurance firms ZhongAn in China and PolicyBazaar in India. Notable investments: China’s Ping An Good Doctor, U.S. cancer testing firm Guardant and Swiss drugmaker Roivant Sciences.Notable investments: Coupang, Indonesian e-commerce firm Tokopedia, Indian hotel chain Oyo and online grocer Grofers, U.S. indoor farming firm Plenty…

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Markets News Regulators 

Fed’s Williams says central bank would adjust plan to soothe funding markets ‘as appropriate’

“New York Fed President John Williams said Thursday that the central bank was closely monitoring its measures to soothe pressures in funding markets, and could adjust its plans” writes Sunny Oh for marketwatch.com. Williams said the central bank could still tweak “technical details,” suggesting this could include buying short-dated coupon-bearing securities later.Investors and analysts have raised worries that the U.S. central bank will struggle to source sufficient bills from banks and investors.The repo market is where hedge funds and banks lend funds in return for collateral such as Treasurys or…

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Crypto News Platforms 

Celsius Now Offers up to 10% Return on TrueUSD Lending Service

“Celsius Network, a cryptocurrency lending and borrowing platform, has partnered with TrustToken, the team behind dollar-pegged TrueUSD (TUSD), to offer up to 10 percent interest on four new stablecoins” writes Aziz Abdel-qader for financemagnates.com. TrustToken has similar arrangements with Cred, which also offers a decentralized lending platform that allows customers of stablecoin issuers, exchanges, and wallets to earn up to 10 percent interest on their crypto-shares.In a push to engage more investors, holders of TrueUSD can now leverage their funds to generate annual returns under the new partnership between the token’s…

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News 

Christie-backed fund struggling to attract investors

“In exchange for reinvesting capital gains in real estate projects within economically distressed communities, investors could defer or eliminate some of their tax obligations” writes Sam Sutton for politico.com. TRENTON — A private investment fund linked to former New Jersey Gov.But 10 months later, the fund has failed to attract much interest, raising just $29 million as of Oct. 7, according to SEC filings.A recent report from real estate data provider CoStar found that of the $15.46 billion being sought by funds launched in 2019 just $1.46 billion had been…

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Markets News 

Global economy faces $19tn timebomb, warns IMF

“Our conclusion is sobering: debt owed by firms unable to cover interest expenses with earnings, which we call corporate debt at risk, could rise to $19tn” writes Larry Elliott for theguardian.com. Low interest rates are encouraging companies to take on a level of debt that risks becoming a $19tn (£15tn) timebomb in the event of another global recession, the International Monetary Fund has said.That is almost 40% of total corporate debt in the economies we studied.” Regulations for banks have been tightened up since the financial crisis of 2008 but…

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Markets News 

Funding market strains resurface as repo rates stay elevated

“The overnight repo rate spiked as high as 2.26%, according to one estimate” writes Sunny Oh for marketwatch.com. The repo rate usually closely tracks the central bank’s benchmark interest rate as they both are considered sources of short-term borrowing.This compared with the effective fed funds rate, which stood at 1.90% on Oct. 15.Strains in short-term lending markets popped up again on Wednesday as the cost of borrowing funds overnight in return for high-quality collateral, or the repo rate, shot up on Wednesday.Hedge funds and banks use the repo market to…

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News 

U.S. Pension Funds Took Positions in Blacklisted Chinese Surveillance Company

“At least one U.S. pension fund had worried this summer about whether to invest in the Chinese surveillance company” writes Min Read for reuters.com. One other company among the blacklisted eight that is owned by some of the big pension funds is iFlytek Co Ltd (002230.SZ), a speech-recognition firm.The New York State Common Fund, one of the country’s biggest pension funds, liquidated its position months ago.CalSTRS owned 4.35 million Hikvision shares at the end of June 30, 2018, the last data available.Another major fund investing in Hikvision shares is the…

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