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FedEx Corp. shares surged over 13% in Wednesday’s premarket session following the company’s announcement of significant structural cost reductions for fiscal year 2024. Investors reacted positively to the news, which is part of FedEx’s broader strategic initiative aimed at enhancing efficiency and profitability. Cost-cutting measures by Fedex boost confidence FedEx revealed that it had reduced… Continue reading FedEx shares surge over 13% as investors welcome $1.8 b reduction in structural costs

The Cardano (ADA) network encountered a distributed denial of service (DDoS) attack late on Tuesday. The perpetrators intended to steal assets staked on the blockchain. The attackers wanted to disrupt services by overwhelming the ADA network with massive spam transactions. Details show the incident began at block 10,487,530, where each transaction executed 194 smart contracts.… Continue reading Cardano (ADA) counters a major security attack, guarantees network stability

A recent report from the Hong Kong Institute for Monetary and Financial Research (HKIMR) has identified decentralised finance (DeFi) and metaverse technologies as key to expanding the fintech sector. HKIMR, the research arm of the Hong Kong Academy of Finance (AoF), published two reports on June 25 regarding the impact the DeFi and Metaverse sectors… Continue reading Hong Kong eyes DeFi and metaverse to boost fintech dominance

Stacks (STX), the Bitcoin Layer-2 network for smart contracts and dApps, has surged by more than 8% in 24 hours as Bitcoin price held above $61k Apart from meme coin Pepe, Stacks is the biggest gainer among top 50 coins by market cap. While PEPE is seeing gains of nearly 9% and trading around $0.00001264… Continue reading Stacks (STX) surges despite BTC sell-off pressure

The MOTHER Iggy token has bounced back in the past few days and is slowly beating DADDY Tate. While both tokens are sharply lower than their all-time high, MOTHER has rebounded by over 75% from its lowest level this month. DADDY Tate has crashed by almost 30% from its highest level this week. MOTHER vs… Continue reading MOTHER Iggy is beating DADDY Tate as meme coins rebound

The price of palladium experienced a significant drop on Tuesday, falling 5.53% to $925.78 per ounce. This decline came after the metal reached almost a month-high on Monday, only to surrender those gains as demand appeared to stall and the dollar strengthened. Broad impact on precious metals market The downturn in palladium prices was part… Continue reading What’s going on with Palladium prices?

United States consumers are less confident on the current state of the economy, according to the latest Consumer Confidence Index reading, released by The Conference Board (CB) today. According to the CB, the Consumer Confidence Index fell to 100.4 in June, declining from 101.3 in May (revised downwards from an initial reading of 102.00). Source: The… Continue reading CB Consumer Index shows US confidence is waning, signals a US recession again

Bitcoin has dropped back to the $60,000 level this week but Anthony Pompliano remains bullish as ever on the world’s largest cryptocurrency by market cap.  Anthony Pompliano is the founder of Pomp Investments.  Pompliano is bullish on both BTC and AI Pompliano continues to see Bitcoin as well as artificial intelligence as a “10-year trend”… Continue reading Pompliano touts Bitcoin and AI: here’s what it means for Bitbot

The latest Morgan Stanley’s crypto-related news triggered optimism in the digital assets space as Bitcoin struggles to escape the $60K vicinity to the upside. X updates reveal that the US-based banking giant will likely approve Bitcoin exchange-traded funds across their wealth management platform. JUST IN: 🇺🇸 Morgan Stanley expected to approve #Bitcoin ETFs on their… Continue reading Just in: Morgan Stanley to greenlight Bitcoin ETFs for all clients across their platform