Shiba inu coin soars 22% to another record after crypto whale buys 277 billion tokens

Shiba inu coin, a meme-based cryptocurrency that is based off another meme-based cryptocurrency that makes fun of cryptocurrencies altogether, soared more than 20% on Tuesday to hit a record high of $0.00004853, according to data from CoinMarketCap. The move higher in the cryptocurrency was sparked Monday evening after an anonymous crypto whale purchased 276.6 billion […]

Robinhood shares tank as revenue falls way short of expectations on lighter crypto trading

Stock trading app Robinhood reported Tuesday a huge revenue miss for the third quarter, as cryptocurrency trading dropped off. Robinhood said that, barring any change in the market environment, the headwinds that dragged down last quarter — like lower retail trading activity — will persist into year-end. Shares of the newly public company tanked by 8% in after-hours […]

Inflation is the ‘biggest risk to the market’: Northern Trust Wealth Management CIO

As supply-chain bottlenecks persist, investors are preparing for backlogs to continue into next year, and that’s fueling concerns of even higher inflation. “The biggest risk that we have right now is that inflation expectations become unanchored,” Katie Nixon, Northern Trust Wealth Management CIO, said Monday at Yahoo Finance’s All Markets Summit when discussing higher prices […]

China’s property bubble just got pricked — this could mean trouble for the stock market

New home prices in China slid 0.8% in September. It was the country’s first real estate decline in six years, triggered largely by the Evergrande fiasco. Residential sales, meanwhile, tumbled 17%. Given China’s massive role in global trade, its problems could easily extend to the U.S. economy and spark something worse than inflation: stagflation. Stagflation […]

What the first bitcoin futures exchange-traded fund means for the cryptocurrency industry

This week marked a milestone for cryptocurrency as investors started trading the first U.S. bitcoin futures exchange-traded fund, exceeding other ETF launches, and another followed Friday. These funds invest in bitcoin futures contracts, or agreements to buy or sell the asset later for an agreed-upon price, rather than bitcoin directly. The new products allow trading […]