Tech billionaires Elon Musk and Jack Dorsey have agreed to discuss bitcoin with each other at an event in July. In a bizarre Twitter thread, Musk responded to a tweet from Dorsey promoting an event called “The B Word,” which aims to encourage companies and institutional investors to adopt bitcoin. “Bicurious?” the Tesla CEO said, […]
After dealing with a host of problems caused by a cryptocurrency mining craze, the former mayor of Plattsburgh, New York, on Thursday cast doubt on the economic benefits of miners setting up shop in a region. “Counties and cities are enticed by all these promises of job creation, which — when you look into it, […]
There were two big pieces of news yesterday out of El Salvador, which – let’s all say it again – will become the first country in the world to treat bitcoin as legal tender. First, the South American country set a Sept. 7 date for the activation of its new currency. In the course of […]
Fixed-income types can be a dour bunch, who see bad news in the best of times. But even they haven’t been this skeptical about Wall Street’s rosy forecasts for U.S. economic growth in nearly a quarter-century. See, once you take inflation into account, it becomes clear that investors are willing to get paid nothing to […]
The Reddit-fueled trading frenzy is getting out of hand, according to the country’s top investment advisor. Ric Edelman, the No. 1 registered investment advisor in the United States and founder of Edelman Financial Engines, said Monday that he’s “very concerned” about what he sees as a sweeping “pump-and-dump scheme” roiling markets. “This party’s going to […]
Andreessen Horowitz is launching a multibillion-dollar fund to invest in a volatile ecosystem it’s betting will be as influential as the internet. The Silicon Valley venture capital firm, founded by Marc Andreessen and Ben Horowitz, announced its new $2.2 billion cryptocurrency-focused fund on Thursday. It plans to deploy that capital across blockchain and digital asset […]
After dealing with a host of problems caused by a cryptocurrency mining craze, the former mayor of Plattsburgh, New York, on Thursday cast doubt on the economic benefits of miners setting up shop in a region. “Counties and cities are enticed by all these promises of job creation, which — when you look into it, […]
Stock futures rose mildly after the market’s comeback rally hit a speedbump on Wednesday. Futures on the Dow Jones Industrial Average added 100 points in early morning trade Thursday. S&P 500 futures and Nasdaq 100 futures both traded in positive territory. The S&P 500 snapped a two-day winning streak Wednesday, closing the regular session 0.1% […]
(Bloomberg) — Oil in London advanced to a fresh two-year high above $75 a barrel, as industry data pointing to another drop in U.S. crude stockpiles reinforced a bullish picture for global markets. The nation’s inventories slid by a substantial 7.2 million barrels last week, the American Petroleum Institute reported, according to people familiar with […]
Bitcoin continued to rebound from its lows for the year on Wednesday. The cryptocurrency sank below the key $30,000 threshold Tuesday, at one point briefly erasing all its 2021 gains. It later recovered to turn positive for the day. On Wednesday, bitcoin surged 18%, climbing back above the $34,000 mark in early morning trading, according […]
Bitcoin’s brief drop below the symbolic price threshold of $30,000 on Tuesday has reignited talk of a crypto winter. It doesn’t help that cryptocurrencies like dogecoin, XRP and others saw sharp drops in the last 24 hours. But experts tell CNBC that bitcoin’s fundamentals are good, and the market conditions in 2021 are very different […]
The American Petroleum Institute (API) on Tuesday reported a draw in crude oil inventories of 7.199-million barrels for the week ending June 18. Analysts had predicted a much smaller draw of 3.942 million barrels for the week. In the previous week, the API reported a draw in oil inventories of 8.537 million barrels after analysts […]
