WEEKLY HEADLINES AND UPDATES #1

The Market Dive:

Hello and welcome to the first ever Market Dive.

This will be a weekly article posted filled with all updates within the last week that is relevant to stocks, cryptocurrency & lastly any information that may be deemed interesting or useful to know.

Within this article, there will be the following:

• Cryptocurrency Updates
• Interesting information/news
• Stock and company updates

Interesting information/updates:

United States

• US Lawmakers discussing passing a $50 billion aid package to support Ukraine by Jan 2023
• US Fed set to raise interest rates by 0.75%
• Federal Court blocks Biden's debt relief program

United Kingdom / Italy / Germany / China

• United Kingdom - Rishi Sunak became the prime minister of the United Kingdom
• Italy - Giorgia Meloni becomes the first female politician to become the prime minister
• German government coalition agrees on a plan to legalize purchase, sale, growing and possession of recreational cannabis.
• China orders state banks to buy stocks in order to contain the selling pressure

Youtuber Mr.Beast

• Youtuber MrBeast is estimated to be worth approximately $1.5 billion. In a bid to raise $150 million, this results in valuing the youtuber's companies and channels at approximately $1.5 billion. (First youtuber to become a billionaire)

Cryptocurrency Updates:

BNB & Binance News:?

• In May, Binance received a license to operate in Bahrain and have now enabled direct deposits and withdrawals in local currencies for users in Bahrain.
• #Binance US hires former FBI agent BJ Kang as its first head of investigations.
• Binance CEO informed the public that they are getting closer to identifying who was behind the $570 million #BNB Chain hack. (More details to be released by Binance after they complete their investigation)
• #Binance gains regulatory approval to operate in Cyprus.
• The number of addresses holding #BNB surpasses 51 million.

Ripple/XRP News:

• Hinman documents have officially been turned over to #Ripple following a court order in the case against the SEC, this is viewed as a win towards Ripple in their case against the SEC.

FTX Exchange:

• FTX exchange working on creating their own stablecoin
• Federal court approves FTX's $1.4 billion agreement to purchase bankrupt lender Voyager Digital's assets.

Reddit:

Reddit recently onboarded millions of users to Web3 and NFTs. Current stats:

• 3m wallets? (more than OpenSea)
• 86K+ NFTs
• 40K NFTs are sold, the rest are free airdrops?
• All NFTs are minted on Polygon/Matic
• Top avatars selling for 6.9 ethereum (highest ever was sold for 175 ethereum)
• Market cap approximately reached $100 million
• 24hr = Volume $235k (rising)

Payment platforms update:

• Payments service provider BitPay to add support for Polygon #MATIC this week.
• Cash App adds support to send and receive #Bitcoin via the Lightning Network.

Countries & Crypto:

• 2 weeks ago, Binance received license to operate in Kazakhstan, and now Kazakhstan's central bank is working on integrating it’s CBDC on #BNB Chain.
• UK votes in favor of recognizing #Bitcoin and #crypto as regulated financial instruments.
• Tether #USDT will be available across 24,000 ATMs in Brazil on November 3rd.

Other updates:

• Twitter is reportedly developing its own wallet with support for #crypto deposits and withdrawals.
• Polkadot #DOT founder Gavin Wood steps down as CEO.
• After comparisons, Bitcoin volatility is now lower than the Nasdaq and S&P 500 for the first time since 2020.
• ?#Coinbase removes commission fees when buying or selling #USDC via fiat currency.
• Crypto markets had over $700 million in liquidations on short trades, or bets against price rises, reaching levels not seen since July 2021. The liquidations may have contributed to a short squeeze because prices of several tokens jumped in the past 24 hours

Stocks and market updates:

• Credit Suisse: $1.5 trillion-asset manager Credit Suisse reportedly exploring finance restructuring options, they are planning to reduce/layoff approximately 9,000 employees.
• Adidas: Adidas’s stock has been plummeting for a while however due to recent news and comments made by Kanye, Adidas officially terminates partnership with Kanye West. (A Deal that was valued at approximately $1.5 Billion as per public sources)

Google Updates:

• Google #GOOGL reports $69.09 billion in revenue for Q3 2022 which disappointed investors, stock is now down 9%

Meta Updates:

• ?#META (Facebook) metaverse division lost $3.7 billion in Q3. Stock prices are now down 20%

Twitter Updates:?

• Elon Musk is reportedly closing the deal on Friday, in an attempt to “fix” and restructure the company. Amidst the restructuring, as per latest info, 75% or 7,500 employees will be laid off
• Twitter #TWTR will be delisted from the NYSE on October 28th, according to a delisting notice from the exchange due to the deal to be nearing its closure.

Will be working on providing better and clearer information including Links if possible to news articles and supporting materials.

Have a great weekend.