With a name like VegaShares, it’s all too easy to roll the dice. A hopeful ETF issuer is trying its luck with the SEC, last week filing with the regulator for 16 funds that would use 3X or 4X leverage on a variety of large exchange-traded funds from other firms. A few months ago, that … Read more
The cryptocurrency exchange Coinbase said on Friday that the Securities and Exchange Commission had agreed to drop its lawsuit against the company, lifting a legal cloud over the global crypto industry and signaling a broader retreat by federal regulators. Coinbase, in a post on its website and in a regulatory filing, said it had reached … Read more
The Trump family’s new crypto token surged in just two days to become one of the most valuable forms of digital currency in the world, creating the potential for a multibillion-dollar payout to the family but also generating a storm of questions about the conflicts of interest the new venture creates. President-elect Donald J. Trump … Read more
Bitcoin’s rally to near a record high is reawakening animal spirits — not just in the cryptocurrency market itself, but in the broader financial world that had left the digital asset sector for dead last year. The change of heart can be seen in the improved outlook for deal flow, highlighted by Robinhood Markets Inc.’s … Read more
It would be no exaggeration to say that Elon Musk has a complicated relationship with Twitter. Musk’s egregiously public, and ultimately ill-fated, bid to acquire Twitter Inc. had the trappings of a reality TV show. The dramatic twists and turns of negotiating a corporate deal, which are typically confined to the boardrooms, were played out … Read more
The U.S. stock market‘s rebound in recent weeks has analysts and investors questioning whether 2022’s deep downturn has ended, but how to spot an expiring bear market or a new bull market is not something everyone on Wall Street agrees on. Equities have rebounded thanks to better-than-expected corporate earnings and bets the worst of soaring … Read more
Puneet Dikshit, a 40-year-old Indian-origin partner at management consulting giant, McKinsey & Company, has been arrested and charged with insider-trading and making illegal profits totalling over USD 450,000 in the US. Dikshit, a partner at a global management consulting firm, has been charged with “illegally trading in advance of a corporate acquisition by one of … Read more
The outlook for the global asset management industry, plagued in recent years by unmerciful downward pressure on fees, is starting to look brighter. With meme stocks, decentralized finance and non-fungible tokens capturing the headlines, money managers need to keep up with the zeitgeist. A new report suggests that the cryptocurrency markets offer a great opportunity … Read more
WASHINGTON: With his cult following, Tesla boss Elon Musk has amassed considerable power to move markets with his musings, but murky rules make it difficult for regulators to rein him in. The celebrity CEO, who boasts more than 54 million Twitter followers and has a devoted constituency on Reddit, has whipsawed the cryptocurrency market and … Read more
By Vildana Hajric and Katie Greifeld It keeps getting worse for holders of the Grayscale Bitcoin Trust, which is now trading at a record discount to the value of the digital assets it holds. The $35 billion fund (ticker GBTC) has lost roughly a fifth of its value since last Friday while Bitcoin tumbled from … Read more