Last Monday, November 27, Whinstone Inc.’s private security entered the Rockdale, TX-based premises of Rhodium Enterprises in order to remove employees to cease operation of their 125MW Bitcoin mining facility. The legal battle that culminated in this seizure started on May 2, 2023 when Whinstone US, Inc., a subsidiary of Riot Platforms, filed a lawsuit…
BlockFi revealed that it has emerged from bankruptcy court, having received approval for its reorganization plan from all relevant stakeholders. Nearly 11 months after it first declared bankruptcy, the crypto lender BlockFi has now officially begun the process of winding down its operations. In line with this, the company has asked its wallet users to…
Kenya’s parliamentary committee has advised Kenyan authorities to take action by shutting down Worldcoin’s virtual platforms and conducting a thorough investigation into the company. The iris biometric cryptocurrency project Worldcoin has recently come under the scanner as the parliamentary committee of the government in Kenya is now investigating the project. The committee has asked regulators…
Gian Lorenzo Ferretti Photography Real Estate Weekly Outlook U.S. equity markets declined for a fourth-straight week while benchmark interest continued an unabating resurgence to fresh multi-decade highs as a potential looming government shutdown, lukewarm economic data, and ongoing labor disputes added complications to existing “higher for longer” concerns. Following a promising start to the third…
Win McNamee/Getty Images News Government shutdown averted The House and the Senate passed a continuing resolution (a stopgap spending bill) to keep the government open for 45 days at current funding levels, with overwhelming bi-partisan support. The Congress will now have more time to pass the 12 appropriations bills (or an omnibus bill) to fund…
Receive free US politics & policy updates We’ll send you a myFT Daily Digest email rounding up the latest US politics & policy news every morning. The US Congress has voted to avert a government shutdown, after lawmakers agreed a last-minute measure that keeps the government funded until mid-November but leaves out billions of dollars…
Richard Stephen The U.S. Government appears headed for a shutdown. In this article, I discuss four potential ramifications that it might have on the REIT sector (VNQ) and then share how I am working to mitigate this risk in my portfolio. Impact #1: Interest Rates Perhaps the impact that investors are most concerned about is…
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Douglas Rissing US This will be a busy week in the US with a looming government shutdown, an expanding UAW strike, a lot of Fed speak, and an NFP report that could show hiring fell to the lowest levels since early 2021. The September jobs report is expected to show hiring slowed from a 187,000…
Douglas Rissing/iStock via Getty Images On the eve of the U.S. government potentially shutting down on Oct. 1, 2023, markets rose at the open after the Commerce Department posted core personal consumption expenditure figures. The core PCE rose by 3.9% Y/Y. This is the first time in two years that the inflation gauge fell below…
Douglas Rissing The federal government is nearing its fiscal year-end on September 30, 2023. This means all eyes are on Congress as they scramble to pass the annual appropriation bills that fund government operations. Failure to do so prior to the start of the new fiscal year would trigger a government shutdown. While developments have…