Business

FTX fallout hits Silvergate, bitcoin

Silvergate has delayed its annual report with the Securities and Exchange Commission after reporting a $1 billion loss for fourth quarter and is now concerned about ability to operate.

Manufacturing contracts for third straight month

The Institute for Supply Management (ISM) said that its Manufacturing Purchasing Managers’ Index (PMI) reached of 47.7 last month after reaching 47.4 in January, notching the third straight month of contraction.

Consumer confidence slips again

Consumer confidence declined in January for the second month in a row according to the latest data, surprising economists who had expected sentiment to rise.

Intel slashes dividend

The Intel Corp.’s board of directors announced the reduction of its quarterly dividend to $0.125 per share of the company’s common stock due to macroeconomic uncertainty.

Bitcoin hits six-month high

Bitcoin, a digital asset and cryptocurrency, has risen to a six-month high as investors gravitate back to more riskier assets.