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Coinbase tumbles ahead of the bell after SEC warning

Published Sat, 22 Feb 2025 09:05:32 GMT

By MICHELLE CHAPMAN (AP Business Writer)Shares of Coinbase tumbled 16% at the opening bell Thursday after the cryptocurrency trading platform received a warning from the Securities and Exchange Commission that it could face securities charges.The cryptocurrency trading platform said in an SEC filing late Wednesday that it had received a Wells Notice from the agency, which indicates that regulators believe laws protecting investors were violated. Among the practices being targeted by the SEC is “staking,” which is “Coinbase Earn” by the company. Users of trading platforms can stake their cryptocurrency, essentially locking up some of their assets, in exchange for payment later, much like earning interest rates in a savings account. Those assets are used by platforms like Coinbase Global Inc. to guarantee other transactions taking place on the blockchain. The SEC says Coinbase and other platforms must register as a securities platform to offer such services, an...

Stocks open higher as some calm returns to Wall Street

Published Sat, 22 Feb 2025 09:05:32 GMT

NEW YORK (AP) — Stocks are opening higher as some stability returns to Wall Street following a couple days and weeks of sharp swings. The S&P 500 was up 0.9% early Thursday. The Dow and the Nasdaq also rose. Treasury yields were mixed. A day earlier, stocks tumbled after the Federal Reserve indicated that while the end may be near for its economy-crunching interest rate hikes, it doesn’t expect to cut rates this year. Many investors still think the Fed will, however. The high rates, which are meant to fight inflation, also put pressure on banks and risk tipping the economy into a recession. THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below.U.S. futures rose modestly Thursday, a day after the Federal Reserve raised its key interest rate while hinting that the end may be near for its economy-chilling policies. Futures for the benchmark S&P 500 rose 0.5% before the bell, while the Dow Jones industrials edged up 0.2%.The Fed raised its key over...

Chicago Cubs 3B prospect James Triantos undergoes knee surgery and will miss at least 6-8 weeks, sources say

Published Sat, 22 Feb 2025 09:05:32 GMT

Chicago Cubs prospect James Triantos will be sidelined to start the season.Triantos had surgery Tuesday to repair the meniscus in his right knee, sources told the Tribune. The hope is the 20-year-old third baseman will miss only six to eight weeks.MLB.com ranks Triantos as the Cubs’ No. 12 prospect, while Baseball America has him No. 18.Triantos, the Cubs’ second-round pick in 2021, is coming off his first full pro season. He spent the entire 2022 season at Low-A Myrtle Beach, where he was one of the youngest hitters in the league.He batted .272 with a .335 on-base percentage and .721 OPS in 113 games, tallying 19 doubles, six triples and seven home runs in 504 plate appearances. He showed off some speed, too, stealing 20 bases while getting caught only three times. ()

Death toll from Pakistan, Afghanistan quake rises to 21

Published Sat, 22 Feb 2025 09:05:32 GMT

ISLAMABAD (AP) — The death toll from a magnitude 6.5 earthquake that struck much of Pakistan and neighboring Afghanistan earlier this week rose to 21 on Thursday, after eight more deaths were reported in remote areas, officials said.Ten died in Afghanistan and 11 in Pakistan after the temblor rattled this South Asian region late on Tuesday. More than more than 130 people were reported injured when roofs of hundreds of homes collapsed. Most of the damage was reported in Pakistan’s Khyber Pakhtunkhwa province, bordering Afghanistan.Shafiullah Rahimi, a Taliban spokesperson for the Ministry of Natural Disaster Management, said the quake killed 10 there and injured 60. He said 800 houses were damaged across Afghanistan.According to the U.S. Geological Survey, the epicenter of the magnitude 6.5 quake was 40 kilometers (25 miles) south-southeast of the district of Jurm in Afghanistan’s mountainous Hindukush region, bordering Pakistan and Tajikistan. The quake struck 188 kilometers (116 mi...

Ramadan starts in Mideast amid high costs, hopes for peace

Published Sat, 22 Feb 2025 09:05:32 GMT

KHARTOUM, Sudan (AP) — Hundreds of millions of Muslims began the first daily fast of Ramadan on Thursday, as parts of the Middle East approached crucial junctures in high-stakes peace negotiations during the holy month, traditionally a time of reconciliationIn Sudan, parties are wrangling over how the country will usher in a civilian government following 17 months of military rule. In Yemen, diplomats are pushing for a lasting truce, following the recent rapprochement between regional powerhouses Iran and Saudi Arabia which have been locked in a proxy war there for eight years.During Ramadan, observant Muslims abstain from food and water from dawn to dusk, before gathering with family and friends for indulgent nighttime meals. According to Islam, fasting draws the faithful closer to God and reminds them of the suffering of the poor.In Khartoum, Sudan’s capital, families prepare culinary delights weeks in advance to mark the break of the fast each evening, a meal known as iftar. For ...

Prince William thanks Poland for generosity to Ukrainians

Published Sat, 22 Feb 2025 09:05:32 GMT

WARSAW, Poland (AP) — Britain’s Prince William paid tribute on Thursday to Poles who lost their lives in past wars, and expressed gratitude to the nation for what it is doing today to provide humanitarian and military support to Ukraine.The heir to the throne’s visit to Poland underscores Britain’s support for both Ukraine and Poland, an ally on the front line of efforts to help refugees displaced by Russia’s war and to assist the Ukrainian military in fighting off the invasion.William laid a wreath in Poland’s national colors, white and red, at the Tomb of the Unknown Soldier, and bowed his head solemnly. The memorial honors Poles who lost their lives in wars including World War II, when Polish and British soldiers were allies.A note on the wreath that he left read: “In memory of those who made the ultimate sacrifice.”He later headed to the presidential palace for a meeting with President Andrzej Duda, who has been a prominent ally of Ukrainian President Vol...

EU leaders set to endorse joint ammo purchases for Ukraine

Published Sat, 22 Feb 2025 09:05:32 GMT

BRUSSELS (AP) — European Union leaders were poised Thursday to endorse a plan for sending Ukraine 1 million rounds of artillery ammunition within the next 12 months to help the country counter Russia’s invasion forces.EU foreign and defense ministers approved the plan for a fast-track purchasing procedure earlier this week, and the leaders of the bloc’s 27 member nations will give it their political blessing at a summit in Brussels, according to several senior EU diplomats. They spoke anonymously under EU practices ahead of summits.With Ukraine facing ammunition shortages after more than a year of fighting, Estonian Prime Minister Kaja Kallas brought to the table last month the idea of the EU setting up a joint purchasing plan similar to the one devised during the coronavirus pandemic to buy vaccines. “What is critical is sending ammunition to Ukraine fast, because that might bring a change in this war,” Kallas said as she arrived at the summit.Under the plan, the European Def...

German unions call for wide-ranging transport strike Monday

Published Sat, 22 Feb 2025 09:05:32 GMT

BERLIN (AP) — German unions are calling on thousands of workers across the country’s transport system to stage a one-day strike on Monday that is expected to bring widespread disruption to planes, trains and local transit.The ver.di service workers’ union and the EVG union, which represents many railway workers, announced the 24-hour walkout in a joint appearance Thursday that come as employees in many sectors have been seeking hefty raises to reflect persistently high inflation.Ver.di chairman Frank Werneke said that his union is calling for 120,000 workers to walk out. Those will include security and ground workers at all German airports except Berlin, local transit employees in seven of Germany’s 16 states, harbor employees and workers on highways — the latter a measure that Werneke said is likely to affect some tunnels.“This strike day will have a massive effect — we are aware of this and it is also necessary,” Werneke said. He added that it’s important t...

Japan’s winning WBC team drops in on Prime Minister Kishida

Published Sat, 22 Feb 2025 09:05:32 GMT

TOKYO (AP) — Prime Minister Fumio Kishida might have had his most enjoyable day in office on Thursday when Japan’s winning World Baseball Classic team paid a visit.Kishida was beaming when a gold medal from the winning team was placed around his neck, and he also received a large card in a frame containing each player’s signature.“To all the members of Samurai Japan, congratulations on your victory in the WBC,” Kishida said, thanking them for their courtesy visit to his office after their long flight back from the United States.Japan finished undefeated — only the second team to do that in the World Baseball Classic — after beating the United States 3-2 in the deciding game.“I thank you for giving tremendous courage and energy to all of Japan. Your huge achievement was possible because the power of each individual and the power of the team as a whole were combined, and I sincerely appreciated it,” Kishida said.Players wore suits — not baseball uniforms — and posed for ph...

Chinese diplomats oppose US military presence in Philippines

Published Sat, 22 Feb 2025 09:05:32 GMT

MANILA, Philippines (AP) — Chinese diplomats expressed their strong opposition to an expanded United States military presence in the Philippines in closed-door talks with their Filipino counterparts Thursday in Manila, a Filipino official said, underscoring the intense U.S.-China rivalry in the region.The Philippine official, who attended the meeting, told The Associated Press about China’s intense objections on condition of anonymity for lack of authority to discuss what transpired at the start of the two-day talks. The Filipino diplomats responded by saying the decision to allow an expanded American military presence was in their national interest and would boost Philippine capability to respond to natural disasters, the official said, suggesting it was not aimed at China. Chinese Vice Foreign Minister Sun Weidong and Philippine Foreign Undersecretary Theresa Lazaro led the talks aimed at assessing overall relations between the two sides amid thorny issues, including Beijing...