2023-11-10 17:18

Copyrighted Image by: Reuters. In a move to rejuvenate its leadership, Sibanye-Stillwater Limited has announced significant changes to its board of directors, including the appointment of new committee chairs and the upcoming retirement of two members. The South African mining giant, known for its substantial role in platinum, palladium, rhodium, and gold production, as well as PGM autocatalysts recycling, is also expanding into the battery metals sector. The board restructuring comes as six non-executive directors have exceeded the nine-year tenure limit. Harry Kenyon-Slaney has been named the new Lead Independent Director in addition to taking on the role of Chair of the Risk Committee. Jerry Vilakazi will assume leadership of the Health and Safety Committee, while Dr. Elaine Dorward King is set to chair the Social, Ethics, and Sustainability Committee. Moreover, Keith Rayner has been appointed Chair of the Investment Committee. These appointments will take effect from early next year. The company also disclosed that directors Nkosemntu Nika and Susan van der Merwe are slated to retire at the 2024 Annual General Meeting (AGM). Chairman Vincent Maphai expressed gratitude to the retiring members for their dedication and service while welcoming the incoming chairs. He emphasized that their contributions would be instrumental in steering Sibanye-Stillwater through its next phase of growth and diversification into battery metals mining and processing. This strategic shift in leadership aligns with Sibanye-Stillwater's vision to remain at the forefront of the mining industry by not only capitalizing on its core strengths but also by branching out into sectors critical for future technologies. The company's proactive approach to board tenure and governance reflects a broader commitment to sustainable and ethical business practices. https://www.investing.com/news/commodities-news/sibanyestillwater-announces-board-reshuffle-and-new-chairs-93CH-3231200

2023-11-10 15:03

In a significant cybersecurity incident, the cryptocurrency exchange Poloniex has suffered a theft exceeding $126 million in various digital currencies. The breach was first detected and publicized by Crypto Twitter today, with subsequent confirmation coming from Justin Sun, the owner of Poloniex and founder of Tron. The unauthorized transactions involved a large spectrum of assets, including USDT, BTC, USDD, USDC, ETH, FLOKI, TUSD, and others. Initially, Poloniex attempted to attribute the disabled wallets to maintenance activities but later acknowledged the severity of the situation amid mounting pressure from user reports and the broader crypto community. The hacker responsible for the breach carried out sophisticated maneuvers involving both Ethereum and TRON blockchains. By using stolen USDC to purchase TRX on Ethereum and USDT on the TRON chain, they accumulated approximately 206 million TRX, valued at around $22.8 million. This activity led to an abrupt 8% increase in the price of TRX, which is currently trading at $0.10. The price fluctuated between $0.097 and $0.11 over the past 24 hours. In response to this security lapse, Poloniex has disabled the compromised "Poloniex 4" wallet and is conducting thorough maintenance to address the issue. Peckshield, a crypto-security firm, was instrumental in detecting the irregular outflows that pointed to a wallet labeled "Poloniex Hacker 1." Justin Sun took to Platform X (formerly known as Twitter) to inform users about ongoing investigations and to offer reassurance that all affected parties will be fully reimbursed for their losses. Moreover, Sun has issued a white hat bounty offer to the perpetrator: a 5% reward from the stolen funds if returned within a seven-day period. Failure to comply with this offer will lead to law enforcement involvement. This breach is a critical reminder of the vulnerabilities present in digital asset platforms. Poloniex has been operational since 2014 and underwent ownership changes from Circle in 2018 for $400 million to its current owner Justin Sun in 2019. As investigations continue, the crypto community is closely monitoring the situation for further developments and implications for security practices within the industry. https://www.investing.com/news/cryptocurrency-news/poloniex-suffers-126-million-crypto-theft-justin-sun-promises-reimbursement-93CH-3231026

2023-11-10 14:58

Copyrighted Image by: Reuters. In a notable rally Today, Bitcoin reached a new six-month peak, hitting $37,999 on the Coinbase (NASDAQ:COIN) crypto exchange before easing to $36,557. This surge, the highest since May 2022, comes amidst growing speculation that U.S. regulators may approve Bitcoin spot exchange-traded funds (ETFs), an event that could potentially usher in a significant wave of investment into the cryptocurrency market. On Thursday, highlighted several chart patterns indicating potential Bitcoin price targets. According to his analysis, if a flag or pennant formation is confirmed, Bitcoin could climb to an all-time high of $43,289. Furthermore, he identified targets based on a head and shoulders bottom pattern ($35,135 and $41,341) and a rectangle pattern ($37,803 and $39,432), which have been partially validated by today's price action. Adding to the optimistic sentiment in the crypto space is the news that an iShares Ethereum Trust has been registered in Delaware. This follows a similar step taken by the iShares Bitcoin Trust and suggests increasing interest from traditional financial institutions in cryptocurrency-based investment products. Investors are closely monitoring these developments as they could mark a significant shift in the accessibility and legitimacy of cryptocurrency investments. The potential approval of a Bitcoin spot ETF has been long anticipated by the crypto community, as it would enable direct investment in Bitcoin through traditional investment accounts, bypassing the need for investors to deal with digital wallets and exchanges. The market reaction to these events underscores the sensitivity of cryptocurrency prices to regulatory news and investor sentiment. As the landscape continues to evolve with more institutional involvement, the crypto market may see further validation and integration into mainstream finance. https://www.investing.com/news/cryptocurrency-news/bitcoin-soars-to-new-sixmonth-high-amid-etf-speculation-93CH-3231020

2023-11-10 14:54

Copyrighted Image by: Reuters In the recent cryptocurrency market rally, XRP has shown a subdued performance compared to its peers, Ethereum and Solana. Investors have been hesitant to engage with XRP, leading to overselling and a bearish sentiment surrounding the digital asset. The slower response of XRP to the market uptick, which took place today, stands in contrast to the quick capitalization by Ethereum and Solana on market movements. The lag in XRP's performance is attributed to intrinsic factors within the Ripple ecosystem. Unlike Ethereum and Solana, which have been quick to introduce innovative solutions and benefit from their robust ecosystems, XRP has not presented new advancements. This absence of innovation has been highlighted over the past weekend, as both Ethereum and Solana have shown strong performances supported by continual developments within their respective platforms. Investors and market analysts are keeping a close eye on the Ripple ecosystem for any signs of emerging solutions that might help XRP catch up with its competitors. As the market continues to evolve, the performance of these cryptocurrencies remains a point of interest for those involved in the digital asset space. https://www.investing.com/news/cryptocurrency-news/xrp-lags-behind-ethereum-and-solana-in-crypto-market-rally-93CH-3231017

2023-11-10 14:49

Copyrighted Image by: Reuters In the midst of a cryptocurrency market upswing, with Bitcoin approaching the $40,000 mark, the Web3 project Memeinator has been making notable strides in its presale phase. As of today, the project has successfully raised over $1.2 million. Memeinator is designed to leverage artificial intelligence (AI) to enhance the quality of memes, a move that has captured the interest of a varied investor demographic due to its innovative approach. The presale event for Memeinator has progressed to its sixth stage, signaling robust investor confidence as the project targets a $1 billion market cap. This ambition is supported by the current meme coin trend and the integration of AI technology. The price of Memeinator's native token, MMTR, began at $0.01 and is anticipated to climb to $0.0485 by the end of the presale, indicating a potential return on investment (ROI) of 132% for early backers. Alongside the financial aspects of the presale, there is also an entertainment angle; the conclusion of the presale will see the launch of the Terminator game. This game will reward players for their participation by offering prizes for eliminating what are described as "enemy memes." To further engage and retain its network participants, Memeinator has incorporated deflationary mechanisms and holder rewards into its tokenomics. Memeinator's strategy includes setting aside 20% of its tokens for marketing efforts, listing on centralized exchanges (CEX), and ensuring liquidity. These strategic initiatives are part of a broader plan to foster widespread adoption and growth within the platform's ecosystem. As Bitcoin's value has increased by 7% over the past week, currently standing at $37,100 and with expectations to possibly hit $40k if bullish trends persist, projects like Memeinator are gaining traction in a total crypto market valued at $1.4 trillion. The confluence of rising crypto valuations and innovative projects such as Memeinator could signal a new era of growth and creativity within the digital asset space. https://www.investing.com/news/cryptocurrency-news/memeinators-presale-raises-12-million-amid-crypto-rally-93CH-3231015

2023-11-10 14:32

Copyrighted Image by: Reuters The cryptocurrency Dogecoin, once a media sensation, continues to struggle in maintaining its value, trading at $0.071 despite various high-profile endorsements and speculative ventures. The coin, which started as a joke in December 2013, soared to an all-time high of $0.74 in May 2021 during the meme coin mania. However, following Elon Musk’s comment on NBC's Saturday Night Live that Dogecoin was "a hustle," its value plummeted to $0.30 and has been on a decline ever since. Despite being the ninth-largest cryptocurrency by market cap, valued at $10 billion, Dogecoin has shown poor annual performance compared to its peers. Elon Musk's acquisition of Twitter in April 2022, which he later renamed X, had sparked speculation about integrating Dogecoin for micropayments on the platform. However, no such integration has taken place more than a year and a half after the takeover. Musk's playful gestures like wearing a Dogecoin t-shirt at an unspecified Super Bowl event and changing Twitter's bird icon to the Dogecoin dog on April Fool's Day have failed to provide any significant boost to the cryptocurrency’s value. Furthermore, despite rumors of SpaceX potentially propelling Dogecoin to become the first cryptocurrency in space—an idea that could position it as an intergalactic medium of exchange—these speculations have yet to add tangible value to the coin. Dogecoin’s journey from near obscurity to becoming a household name and back again highlights the volatile nature of cryptocurrencies. While it may carry the title of an "accidental crypto movement" and have had moments where it captured the public imagination, Dogecoin’s long-term underperformance suggests caution for those considering it as an investment vehicle. Its story serves as a reminder that not all that glitters in the crypto universe is gold—or even worth as much as a meme. https://www.investing.com/news/cryptocurrency-news/dogecoin-struggles-despite-musks-playful-endorsements-and-space-ambitions-93CH-3231001