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Last updated: March 27, 2024 08:57 EDT | 2 min read Coinbase has announced plans to increase the storage of corporate and customer USDC balances on Base, an Ethereum Layer 2 solution incubated by the exchange and built on the open-source OP Stack. The move is expected to provide benefits such as lower fees, faster settlement times, and enhanced security for managing customer funds.Max Branzburg, Coinbase’s Vice President and Head of Consumer Products, announced the decision in a Wednesday post on X.“This enables us to manage and secure customer funds with lower fees and faster settlement times, with no impact to the…
Lira Campbell is getting $500 a month for 5 years from HudsonUP, a basic income program in New York.She was selected for the basic income pilot after learning her husband had cancer.She said the no-strings-attached money gave her room to breathe. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. download the app This is an as-told-to essay based on a conversation with Lira Campbell, a 62-year-old widow in Hudson, New York who is receiving $500 monthly for five years from the town’s basic income program. It has been edited for length…
Nvidia is on a roll.The Santa Clara-based chipmaker’s stock has skyrocketed on the back of the boom in artificial intelligence, or AI.Since the start of 2022, Nvidia’s stock price has increased five times, sending the fortune of cofounder and CEO Jensen Huang skyrocketing.Now worth nearly $70 billion, the 61-year-old Huang — who owns 3.5% of Nvidia — is on the cusp of breaking into the ranks of the world’s top 20 billionaires on the Bloomberg Billionaires Index. Related stories This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Have an account? Log in.…
Investment Thesis Franklin Electric’s (NASDAQ:FELE) growth prospects remain mixed for the current year. Revenue should continue to see headwinds in the near term from a declining backlog due to lower demand, channel inventory destocking, and project delays by clients in a high-interest environment. Further, tough comparisons in 1H24, and the dissipating impact of price increases should also negatively impact revenue. This revenue decline should start bottoming in the second half of 2024 as the company benefits from easing comparisons in 2H24, and a potential interest rate cycle reversal helping project investments. Margin should see a similar trajectory with headwinds from…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Venezuela’s president Nicolás Maduro appears to have cleared the field of his strongest challengers for the July election after the main opposition candidate was banned and her stand-in was unable to register.Revolutionary socialist Maduro, a former bus driver who has ruled since 2013, has presided over an economic collapse in the country. About three-quarters of the once-wealthy oil-exporting nation’s gross domestic product has been lost during Maduro’s presidency, triggering the exodus of 7.7mn people as the economy declines and violent crime rises.The…
A majority of Supreme Court justices appeared skeptical Tuesday of the idea of a nationwide ban or new limits on mifepristone, the primary drug used for medication abortions. The case was the first abortion-related hearing since the court reversed Roe v. Wade and the proceedings at time went into detail of the process and any complications of the use of medication abortion. At issue in the case are lower-court rulings that would have rolled back recent Food and Drug Administration decisions to ease access to the mifepristone. A district court had instituted a nationwide ban as well. But the case…
By David Shepardson WASHINGTON (Reuters) – The U.S. Federal Bureau of Investigation has told passengers who were on an Alaska Airlines Boeing (NYSE:) 737 MAX 9 that suffered a Jan. 5 mid-air emergency that they may be victims of a crime, according to letters seen by Reuters. The letters, a procedural step in some criminal investigations by the Justice Department, are a sign that its probe into the MAX 9 emergency is moving forward. The letters, dated Tuesday, say the FBI has identified the passengers “as a possible victim of a crime. This case is currently under investigation by the…
By Shariq Khan NEW YORK (Reuters) -Oil prices fell nearly 1% on Tuesday, pressured by skepticism around China achieving its economic growth target and investors’ declining risk appetite despite support from a weaker U.S. dollar. futures settled 76 cents, or 0.9%, lower at $82.04 a barrel, their fourth straight decline. U.S. West Texas Intermediate crude futures fell 59 cents, or 0.8%, to $78.15 a barrel. Both benchmarks had dropped by more than a dollar during the session. Weighing on prices, China, the world’s biggest oil importer, set an economic growth target for 2024 of around 5%. While the target is…
By Herbert Lash and Joice Alves NEW YORK/LONDON (Reuters) -The dollar rose on Thursday after the Swiss National Bank’s surprise interest rate cut bolstered global risk sentiment and underscored the appeal of the greenback amid strong U.S. economic growth. Sterling slid after the Bank of England (BoE) kept its benchmark interest rate on hold as expected. But after the Federal Reserve projected a less restrictive policy stance than expected on Wednesday, risk assets worldwide soared, as did the outlook for investment flows to the U.S. The SNB’s loosening of monetary policy suggests inflation is under control and other central banks…
