Markets

What is staked ether (stETH) and why is it causing havoc in crypto?

Ether is the second-largest cryptocurrency in the world by market value. Jaap Arriens | NurPhoto via Getty Images Another controversial cryptocurrency is causing havoc in the digital asset market — and this time, it’s not a stablecoin. Staked ether, or stETH, is a token that’s supposed to be worth the same as ether. But for …

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China keeps benchmark lending rate unchanged

Stock picks and investing trends from CNBC Pro: Hong Kong’s Hang Seng index dipped 0.43%. Shares of Alibaba shares in Hong Kong fell more than 2%, despite Reuters reporting Friday that China’s central bank has accepted Alibaba-affiliate Ant Group’s application to form a financial holding firm, reviving hopes for a potential public listing for Ant. …

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Environmental groups sue Biden to block oil and gas drilling permits

A polar bear sow and two cubs are seen on the Beaufort Sea coast within the 1002 Area of ​​the Arctic National Wildlife Refuge. US Fish and Wildlife Service | Reuters A coalition of environmental groups this week sued the Biden administration in an effort to stop more than 3,500 permit applications from energy companies …

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