ChainCatcher news, Nasdaq-listed Bitcoin mining company Argo Blockchain has announced the appointment of Justin Nolan as CEO and Director.Justin Nolan previously served as the CEO of yArkon Energ, and before that, he was the Chief Growth Officer at Argo, playing a key role in the early development of the Helios project.

ChainCatcher news, according to Jin Shi reports, Wells Fargo stated that some positive sentiment is emerging around the prospects of a tariff compromise, but caution is still needed.Wells Fargo's New York strategist Kenn Brendan McKenna said, "I have come to realize that any statements not directly from Trump should not be traded or believed immediately, so so far, I will still show caution and tend to hedge. However, if tariffs are lowered and an agreement is reached, the Canadian dollar and Mexican peso, as well as the entire foreign exchange market, should see some relief rebound."

ChainCatcher news, according to a statement from Argo Blockchain, Argo signed a non-binding term sheet on February 25, 2025, planning to secure up to $40 million in senior secured convertible loan financing. The initial financing amount is $15 million, with subsequent financing potentially reaching up to $25 million over the next 18 months.The financing will be used to upgrade Argo's mining equipment in Baie Comeau, enhance the balance sheet, and evaluate a range of acquisition opportunities. The loan will be structured as a non-amortizing loan with an interest rate of approximately 8%, and it includes a conversion right at a 25% premium to the closing price on the day before the final agreement is signed.

ChainCatcher news, the market generally expects that Trump's tariff policy will drive up inflation and increase the difficulty for the Federal Reserve to continue controlling inflation. Goldman Sachs and Wells Fargo expect the Federal Reserve to cut interest rates twice this year, while Morgan Stanley joins Barclays and Macquarie in predicting that the Federal Reserve will only make one 25 basis point cut this year, citing the uncertainty brought by President Trump's tariff policy.The Federal Reserve also maintained its benchmark overnight interest rate in the range of 4.25%-4.50% at its policy meeting in January. Federal Reserve Chairman Powell stated that further reductions in borrowing costs now depend on whether the Federal Reserve can make further progress in reducing stubbornly high inflation.

ChainCatcher news, the market widely expects that Trump's tariff policy will push up inflation and increase the difficulty for the Federal Reserve to continue controlling inflation. Goldman Sachs and Wells Fargo expect the Federal Reserve to cut interest rates twice this year, while Morgan Stanley joins Barclays and Macquarie in predicting that the Federal Reserve will only make one 25 basis point cut this year, citing the uncertainty brought by President Trump's tariff policy.The Federal Reserve also maintained its benchmark overnight interest rate in the range of 4.25%-4.50% at its policy meeting in January. Federal Reserve Chairman Powell stated that further reductions in borrowing costs now depend on whether the Federal Reserve can make further progress in reducing stubbornly high inflation.

ChainCatcher news, Bitcoin mining company Argo Blockchain announced that its CEO Thomas Chippas will step down on February 28, 2025. The company is searching for executives to identify a successor. In the meantime, Chief Financial Officer Jim MacCallum will serve as interim CEO.

ChainCatcher news, according to official news, the U.S. Securities and Exchange Commission has announced that it has filed settlement charges against Wells Fargo and Merrill for violations related to their cash clearing plans.The two companies have agreed to pay a total of $60 million in civil penalties. The reason for the settlement charges is their failure to adopt and implement reasonably designed written policies and procedures to prevent violations of the Investment Advisers Act and its related rules concerning the companies' cash clearing plans.According to the SEC's order, Wells Fargo Advisors and Merrill Lynch provided a Bank Deposit Sweep Program (BDSP) as the only cash clearing option for most advisory clients and derived significant economic benefits from the cash of advisory clients in the BDSP. The two companies and their affiliates set the interest rates offered in the BDSP, and during periods of rising interest rates, the yield differential between the BDSP and other cash clearing alternatives sometimes grew to nearly 4%.

ChainCatcher news, according to Jinshi reports, Wells Fargo expects the Federal Reserve to implement two rate cuts of 25 basis points each this year, in September and December, down from the previous forecast of three rate cuts.

ChainCatcher news, according to Jin10, Wells Fargo stated that the possibility of the Federal Reserve cutting interest rates in March is becoming increasingly unlikely.

ChainCatcher news, according to Jin Shi reports, the Trump administration's radical tariff policy may lead to further inflation, but economic models indicate that this will be a one-time increase in price levels rather than a long-term inflationary spiral.Wells Fargo economist Jay Bryson said this might persuade the Federal Reserve to be more patient in addressing inflation caused by tariffs, especially in the context of a continuing slowdown in the labor market. His view supports Wells Fargo's baseline expectation that the Federal Reserve will cut interest rates three more times this year, each by 25 basis points.However, Bryson warned that if the trade war becomes more protracted, such as through a series of tit-for-tat international reprisals, the Federal Reserve may have to take the inflationary consequences more seriously.

ChainCatcher news, according to Coinspeaker, Bitcoin mining company Argo Blockchain announced on December 2 that it has completed a £4.2 million (approximately $5.32 million) financing by issuing 76.9 million new ordinary shares to an undisclosed institutional investor, at a price of 5.5 pence per share. This transaction was executed using a cashbox mechanism, bringing the total number of shares issued by the company to over 717 million.The funds will be used to relocate or sell equipment at its Helios mining site in Texas, while maintaining ongoing operations at its Quebec site. Notably, the company reported a pre-tax loss of $38.8 million for the first three quarters of 2024, with mining profit margins dropping from 58% in the same period last year to 8%.

ChainCatcher news, according to Jinshi reports, Wells Fargo senior economist Sarah House stated, "As we enter 2025, we may see a slowdown in the pace of future rate cuts, with the Federal Reserve possibly cutting rates once every other meeting." Her team expects the Federal Reserve to cut rates three times in 2025. Although policymakers have differences on specific details, Wall Street economists generally believe that the current rapid pace of rate cuts by the Federal Reserve will not continue.According to Bloomberg data, the market currently expects the Federal Reserve to cut rates about twice in 2025. The Federal Reserve will release its updated forecasts on December 18.

ChainCatcher news, Nasdaq-listed cryptocurrency mining company Argo has released its unaudited financial performance report for the third quarter ending September 30, 2024. The revenue for the three months and nine months ending September 30, 2024, was $7.5 million and $36.7 million, respectively, compared to $10.4 million and $34.4 million in the same period last year.In addition, Argo's Bitcoin mining output for the third quarter was 123 BTC, with an average daily mining output of 1.3 BTC.

ChainCatcher news, according to Jinshi reports, Wells Fargo's Sarah House and Aubrey Woessner wrote that inflation in the United States may still be above the Federal Reserve's 2% target. The consumer price index for October, to be released next week, "may show that progress in eliminating the last bit of inflation remains frustratingly slow."They predict that the overall CPI for October will increase by 0.2%, remaining the same as the increase in September, which will raise the annual rate from 2.4% to 2.5%. Core CPI is expected to rise by 0.3% for the third consecutive month, keeping the annual rate at 3.3%. House and Woessner added that policies proposed by Trump could put pressure on rising prices and extend the time for inflation to return to the Federal Reserve's target.

ChainCatcher news, the Ethereum Foundation members have established a non-profit research and development group called Argot Collective, aimed at maintaining free and independent software related to Ethereum. The founding members of the organization consist of about 25 current employees of the Ethereum Foundation, and the project will initially focus on smart contracts and verification services.

ChainCatcher news, Bitcoin mining company Argo released its operational update report for September 2024, disclosing that the company mined a total of 37 Bitcoins last month, with an average daily output of approximately 1.2 BTC, consistent with August.Additionally, Argo revealed that its Bitcoin mining revenue for September reached approximately $2.2 million, but its Bitcoin mining profit margin for the third quarter was below 10%.

ChainCatcher news, Paul Christopher, the global investment strategist at Wells Fargo, stated that the U.S. stock market is set to experience a rally like never seen in the past 30 years.Paul Christopher believes that today's market is similar to that of 1995, when the stock market was booming and the S&P 500 Index (SPX) set 77 historical highs. Investors may face a similar environment. This is because inflation is declining, the economy "is not collapsing," and the U.S. Department of Commerce estimates that the GDP grew by 2.8% year-on-year in the second quarter.Paul Christopher told CNBC on Thursday that the Federal Reserve "is in a favorable position if it can be sufficiently proactive."

ChainCatcher news, Bitcoin mining company Argo Blockchain announced that it has fully repaid the $35 million loan provided by Galaxy Digital in 2022. This repayment is more than four months ahead of schedule, nearly 18 months earlier than the originally planned repayment date, with $11.5 million of the principal repaid in 2023 and the remaining $23.5 million to be repaid in 2024.Argo stated that the loan repayment was achieved through cash generated from operations, cash raised from equity financing, and cash generated from the sale of non-core assets.

ChainCatcher news, Bitcoin mining company Argo Blockchain PLC today released its operational update for July 2024, reporting that it has mined 48 BTC, averaging 1.5 BTC per day, consistent with June 2024. The company generated $3 million in mining revenue, with a mining profit margin of around 20%, slightly lower than last month due to the lower hash price achieved in July.

ChainCatcher news, according to Bitcoin.com, Bitcoin mining company Argo Blockchain has announced a private placement of common shares and accompanying warrants, targeting institutional investors. This transaction is expected to generate approximately £6.5 million ($8.3 million) in total proceeds. Argo stated that the net proceeds from this placement will be used for working capital, general corporate purposes, and debt repayment.Argo Blockchain will issue 57.8 million common shares at a purchase price of £0.1125 per share, while also issuing warrants to purchase an additional 57.8 million shares. The new shares are expected to begin trading on the London Stock Exchange on or around July 31, 2024.