Cryptocurrency

What Are Stablecoins Used For? Stablecoin holders can take advantage of various opportunities due to the coin's blockchain-based nature. The issuance of the first stablecoins as fiat currency replacements on exchanges provided investors with a secure haven from the volatility of other crypto assets. In the decentralized finance (DeFi) space, stablecoins can now be used to lend at rates higher than those offered by conventional savings accounts or to obtain cryptocurrency-backed loans. Despite the fact that stablecoins may offer higher returns than conventional savings products, it is essential to note that stablecoin offerings do not include government-backed insurance. Stablecoins have been issued on multiple blockchain networks that support smart contracts, and they are extensively used in the DeFi industry and on exchanges. On top of Blockchain networks that support smart contracts, applications such as decentralized exchanges (DEXs) can be developed. Decentralized exchang...

By Akiko Matsuda Updated Oct. 25, 2023 6:52 pm ET | WSJ Pro Genesis filed for bankruptcy in January in the wake of the collapse of crypto exchange FTX. Photo: Rafael Henrique/Zuma Press Crypto lender Genesis Global is pursuing a chapter 11 liquidation plan that abandons a previous settlement proposal to restructure the $1.7 billion in loans it extended to its parent company Digital Currency Group. Genesis filed court papers Wednesday for a plan to exit from chapter 11 without a resolution of its claims against DCG, the crypto conglomerate founded by finance veteran Barry Silbert . Genesis is now preparing to liquidate its assets without the settlement proposal reached in August that intended to deliver estimated recoveries of between 70% to 90% for Genesis customers, including users of crypto exchange Gemini Trust's Earn program.

On Friday, the stock market officially entered "correction" territory, with the S&P 500 Index ($SPX) closing more than 10% below its July peak. And while we might be in rally mode to start the week, there's plenty of reason to remain cautious as we head into a busy week for markets. Stocks have fallen steadily over the past three months as a confluence of worrying factors is bringing market bears out of hibernation. Federal Reserve officials are talking about keeping interest rates "higher for longer" to continue fighting inflation, and the yield on the 10-year Treasury briefly rose above 5% recently, a level not seen since 2007. Investors are also concerned about escalating tensions between Israel and Hamas, and reactions to the latest round of corporate earnings have been mixed so far. But retail investors aren't the only ones concerned; these bearish events have many high-profile investors spooked, as well. Last week, Pershing Square f...

Key highlights: With over 47 million users mining and holding PI worldwide, the "people's crypto" already has tremendous buying pressure built-in. Once the Open Mainnet launches and exchanges list PI, the large number of investors could send the price skyrocketing north of $150. New perks like staking PI to chat privately are giving pioneers real reasons to hold coins long-term. More utility means less selling pressure. Pi Network, a crypto mining crypto platform, has grown enormously since launching its mobile mining app back in 2019. With over 47 million users worldwide, the project has attracted significant interest despite still being under development. Now, CoinCodex's price prediction algorithm is forecasting major upside potential for Pi Network's native PI coin. Our Pi Network price forecast CoinCodex's algorithm is predicting PI coin could surge over 400% in value over the next 12 months. Based on technical and historical anal...

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Prudential Financial, Inc., a global financial services leader and premier active global investment manager with approximately $1.4 trillion in assets under management as of June 30, 2023, has operations in the United States, Asia, Europe, and Latin America. Prudential's diverse and talented employees help make lives better by creating financial opportunities for more people by expanding access to investing, insurance, and retirement security. Prudential's iconic Rock symbol has stood for strength, stability, expertise and innovation for nearly 150 years. For more information, please visit news.prudential.com. The Retirement Strategies team at Prudential delivers industry-leading solutions for growth and protection to more than 2 million individual and institutional customers. 1 The business makes more than $12 billion of protected income payments to customers each year, 1 with a focus on expanding access to retirement security through its lines of Individual Re...

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