One of the pledges Yoon Suk-yeol made to his voters was to implement a set of crypto-friendly policies in South Korea. Yoon, who won in March and came into the office this month, said he would raise the tax threshold for crypto investment gains to 50 million won or around $38,922. But he’s getting some […]
The week is ending on a higher note for Big Tech on hopes a relentless selloff may be nearing exhaustion. But Friday’s rally can’t completely wipe out a sobering signal from Apple Inc. shares. After acting as a ballast for the broader market for most of the year, the stock broke down this week, with […]
Stocks jumped Friday, trimming losses from another down week and preventing the S&P 500 from tumbling into bear market territory. The Dow Jones Industrial Average rose 466.36 points to 32,196.66, or 1.47%. The S&P 500 gained 2.39% to close at 4,023.89 and the Nasdaq Composite jumped 3.82% to 11,805. The S&P 500 on Friday finished […]
This week the crypto market endured a sharp drop in valuation after Coinbase, the leading U.S. exchange, reported a $430 million quarterly net loss and South Korea announced plans to introduce a 20% tax on crypto gains. During its worst moment, the total market crypto market cap faced a 39% drop from $1.81 trillion to $1.10 trillion […]
A move by Fidelity Investments to let retirement savers add Bitcoin to their 401(k)s is becoming a new flash point in the fight over crypto regulation, pitting free-market Republicans against Democrats who say it’s a threat to millions of consumers. The Biden Labor Department, which polices employer-sponsored 401(k)s, has warned the 76-year-old asset management firm […]
Stock Markets Since the markets hit an all-time high on the first trading day of the year, the benchmark indexes have been on a steady decline and hit a new one-year low in the past week. The financial markets around the world are contending with an environment defined by rising inflation, tightening monetary policies, and […]
Coinbase users are reporting difficulty withdrawing funds, heightening fears amid a widespread crash in cryptocurrency prices. The company confirmed the issues in a tweet on Thursday. “We are aware that some customers are having issues trading and accessing accounts on Coinbase and Coinbase Pro,” the company said. “Your funds are safe, and we are actively […]
As Elon Musk pursues ownership of Twitter, shares of the social media company are dropping, suggesting some concern among investors that the deal won’t reach the finish line. Twitter has slid nearly 13% since reaching its high for the year in late April. As of market close on Thursday, the stock traded at $45.08, well […]
Luna, the sister cryptocurrency of controversial stablecoin TerraUSD, has collapsed to nearly $0. TerraUSD, or UST, has been dragged into the spotlight in the last few days after the so-called stablecoin, which is supposed to be pegged one-to-one with the U.S. dollar, fell sharply below the $1 mark. UST is an algorithmic stablecoin which uses […]
The S&P 500 has gotten crushed in a widespread sell-off this week, and the index is likely to tumble even lower before it starts to rebound, according to Bank of America analysts. In a recent analyst note, Bank of America Chief Investment Strategist Michael Hartnett said, based on historical market trends, there could be months […]
Bitcoin dropped below the $30,000 for the second time this week after new inflation data shows consumer prices remain at 40-year highs. The price of bitcoin was last down 7% at $29,135.00, according to Coin Metrics. Earlier in the day it dropped as low as $29,026.66, its weakest point since December 2020. Ether fell 10% […]
Grayscale, the asset manager running the world’s largest bitcoin fund, met privately with the Securities and Exchange Commission last week in an effort to persuade the regulator to approve the conversion of its flagship fund into an ETF, CNBC has learned. Turning the Grayscale Bitcoin Trust into a NYSE-traded ETF would broaden access to bitcoin […]
