New York Gov. Andrew Cuomo wants to tackle the state’s budget gap by controlling spending instead of with major revenue increases. Cuomo released his $178 billion 2021 fiscal year budget proposal Tuesday amid the Empire State grappling with a $6.1 billion shortfall tied largely to a $4 billion increase in Medicaid costs. The Democratic governor,
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Square Crypto, the payment company’s bitcoin-focused wing, is building a “Lightning Development Kit” for wallet and app developers to more easily build on the layer-2 solution. Announced Tuesday, the new kit includes an API, language tools, demo apps and other features to help developers integrate support for Lightning payments into their own wallets. Existing bitcoin
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Jamie Dimon, Chairman and CEO of JP Morgan Chase.  Adam Jeffery | CNBC J.P. Morgan Chase announced the creation of a new business called the Development Finance Institution to boost private investment in emerging-market development projects. The lender said it can finance more than $100 billion annually from its investment bank and created a formal
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The South Korean government is said to be considering imposing a 20 percent tax on all cryptocurrency transactions. South Korea’s Yonhap News Agency reported Monday that officials from the Ministry of Economy and Finance’s income tax office had been reviewing a new proposal that could see the country adopt a clearer regime for how it
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FAANG stocks displayed at the Nasdaq. Adam Jeffery | CNBC Morgan Stanley and Nomura analysts on Friday raised their price targets for Apple stock as the tech giant’s shares continue to surge. However, the latter cautioned that inflated iPhone 12 expectations “may make the music stop” and questioned market enthusiasm about a “5G supercycle.” In
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The secondary market price of Puerto Rico’s 2014 general obligation bond increased 40% since June 11. On that date IHS Markit had an imputed market price of 47 cents on the dollar. The price as of Thursday was 66.75 cents on the dollar. One analyst said, “Much of the recent economic news for PR has
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This is part of a series of op-eds previewing the World Economic Forum in Davos, Switzerland. CoinDesk will be on the ground in Davos from Jan. 20–24 chronicling all things crypto at the annual gathering of the world’s economic and political elite. Follow along by subscribing to our pop-up newsletter, CoinDesk Confidential: Davos. Jeremy Allaire is co-founder, chairman
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Credits for LTB#423 This episode of Let’s Talk Bitcoin! is sponsored by Brave.com and eToro.com. Original Photo by Ubaidhulla Adam on Unsplash This episode featured Adam B. Levine, Stephanie Murphy, and Jonathan Mohan Music for today’s episode was provided by Jared Rubens, and general fuzz, with editing by Jonas.  Would you like to Sponsor a future episode of
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Chicago’s $1.5 billion sale of general obligation refunding bonds and Sales Tax Securitization Corp. debt generated $310 million of savings for budget relief this year and next, city officials said. The deals that priced Wednesday and Thursday marked the first bond issues by Mayor Lori Lightfoot’s administration. Lightfoot’s $11.65 billion 2020 budget relies on $210
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New York-based crypto-asset exchange Gemini has announced an increase in insurance coverage of its custody platform. The cryptocurrency exchange has increased its custody limit to $200 million. This is the largest cold storage insurance limit for any exchange globally. Gemini Launches Insurance Company This move indicates that Gemini Custody expects the demand for its services
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Second, when interest rates go higher, as they will do sooner or later, it will become much more painful to finance annual deficits. “Third, in some countries high debt levels may generate default risk, high interest rates, capital outflows (as in Greece), and a debt crisis that may impose austerity when it is particularly costly,”
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The Libra Association, the non-profit organization overseeing Libra, has established a five-member Technical Steering Committee (TSC) to oversee and coordinate the technical design and development of the Libra network. The responsibilities of the TSC are to direct the technical roadmap of the Libra network, form working groups to fast track research into specific issues, guide
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