Jamie Dimon, the CEO of JPMorgan Chase, has made his contempt for cryptocurrency clear, calling it “worthless” during the great crypto boom in October 2021. But now, he says, he has stopped even calling them “currencies.” “Currencies have rules of law behind them, central banks and tax authorities,” Dimon said in an interview with the […]
The big guns in the auto industry are coming for Tesla’s number one spot in electric vehicles, warns one long-time auto analyst. And they could succeed in the not too distant future. “We expect Tesla’s market share to drop from about 70% in EVs to about 20% in the next three years. They [Ford and […]
After January’s surprisingly strong jobs report, focus swings to consumer inflation in the week ahead and what it could mean for the Federal Reserve’s plan to raise interest rates. Friday’s report of 467,000 jobs added in January confounded Wall Street economists, some of whom expected a negative number due to the impact of the omicron […]
SINGAPORE — Shares in Asia-Pacific were higher on Friday as investors in the region shrugged heavy losses overnight on Wall Street that saw the tech-heavy Nasdaq Composite plunging nearly 4%. Hong Kong’s Hang Seng index led gains among the region’s major markets, rising 3.24% to close at 24,573.29. Financial stocks in Hong Kong surged on […]
SINGAPORE — Shares in Asia-Pacific were higher in Friday trade as investors in the region shrugged heavy losses overnight on Wall Street that saw the tech-heavy Nasdaq Composite plunging nearly 4%. Hong Kong’s Hang Seng index led gains among the region’s major markets, rising 2.71% by the afternoon. Financial stocks in Hong Kong surged in […]
The oversaturated SPAC market is continuing to get crushed in the new year as speculative stocks with little earnings fall further out of favor in the face of rising rates, while a growing number of deals were abandoned in the tough environment. Companies that went public via blank-check deals have been among those worst affected […]
Bitcoin bull Michael Saylor says Meta should have stayed around longer in the crypto space. “The mistake [they made] was not getting into the crypto space. They wasted many, many years of their time with the project they invested in,” the MicroStrategy CEO and founder said on Yahoo Finance Live. This week, Diem — Facebook’s […]
Galaxy Digital, the cryptocurrency investment management firm owned by financier Michael Novogratz, has launched an ESG program focused on employing responsible environmental practices in bitcoin mining. The financial technology manager said it will actively seek to improve its environmental and carbon footprint. Galaxy Digital’s initiative is an extension of the company’s recent commitment to achieving […]
The crypto market is once again in the red on Feb. 2 as global financial markets continue to see increased volatility. Data from Cointelegraph Markets Pro and TradingView shows that after spending the morning hovering around $38,200, BTC was hit with a wave of selling that pushed the price to $36,800. BTC/USDT 1-day chart. Source: TradingView Here is what […]
The highly unpredictable nature of Russia’s threat against Ukraine has rippled across financial markets without much impact on stocks. But if Russia were to move its troops across the border, it could cause a major risk-off event — sending equities lower and commodity prices even higher. The U.S. plans on stinging sanctions if Russia moves […]
U.S. stock futures fell Wednesday night, as traders pored through the latest batch of corporate earnings, which included disappointing numbers from tech giant Meta Platforms. Futures tied to the Nasdaq 100 dropped 2.3%, and S&P 500 futures slid 1%. Dow Jones Industrial Average futures slid 35 points, or 0.1%. Shares of Facebook-parent Meta Platforms plunged […]
The market for nonfungible tokens, or NFTs, exploded last year. In 2021, at least $44.2 billion worth of cryptocurrency was sent to the two types of Ethereum smart contracts “associated with NFT marketplaces and collections,” data from blockchain analytics firm Chainalysis shows. Smart contracts are collections of code that power decentralized applications and NFTs. But […]
