When memecoins go parabolic, it’s usually a market top signal and a warning that investors’ euphoria has peaked. The market witnessed similar speculative fury in the 2020 to 2021 bull market when Dogecoin (DOGE) chased after $1, Shiba Inu (SHIB) rallied by tens of thousands of percent, and NFT prices hit eye-watering six to seven-digit
Municipals were bumped up to a basis point or two Monday, while U.S. Treasuries were firmer out long and equities rallied near the close. For the third consecutive week, muni yields continued to fall. The 10-year note fell by 21.6 basis points last week to end the week at 3.05%, said Jason Wong, vice president
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Microsoft has hired Sam Altman and Greg Brockman to lead a team conducting artificial intelligence research, days after the pair were pushed out of OpenAI, the company they co-founded. Writing on X on Monday, Microsoft
The company behind Atomic Wallet has asked a United States court to dismiss a class action suit seeking damages from a $100 million hack arguing the claims should’ve been filed in Estonia where it’s based. In a Nov. 16 dismissal motion in a Colorado District Court the Estonian firm argued it has “no U.S. ties”
Argentina’s Bitcoin (BTC)-friendly Javier Milei won the country’s presidential run-off election on Nov. 19, beating out his opponent Sergio Massa. With almost 99% of the vote counted, Milei won over 55% of the votes with a nearly 3 million vote lead according to Bloomberg data. Massa, the country’s minister of economy, called Milei to congratulate
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. OpenAI investors are working to get rid of the company’s board and reinstate Sam Altman as chief executive of the generative AI start-up, according to people with direct knowledge of the situation, in what would
Mike Belshe, CEO of cryptocurrency exchange BitGo, has suggested that all indications are leaning towards a favorable outcome for a spot Bitcoin (BTC) exchange-traded fund (ETF). However, he emphasized that the journey ahead won’t be without challenges. In an interview with Bloomberg on November 16, Belshe explained that based on the discussions taking place between
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Sam Altman was pushed out of OpenAI over a “breakdown in communications” with the company’s board rather than financial impropriety or malfeasance, according to an internal memo sent to staff at the ChatGPT parent and
Yearn.Finance’s governance token (YFI) plummeted over 43% in just five hours on Nov. 18 after rallying almost 170% early in the month, stirring fears about a possible exit scam. During the dramatic drop in value, over $300 million was wiped out in market capitalization from November’s gains, according to data from CoinMarketCap. At the time
In this article Follow your favorite stocksCREATE FREE ACCOUNT A pedestrian passes a Wall Street subway station near the New York Stock Exchange (NYSE) in New York, U.S., on Monday, June 27, 2022. Money managers betting on a sustained global rebound will be left sorely disappointed in the second half of this crushing year as
In this article TSLA Follow your favorite stocksCREATE FREE ACCOUNT Jim Chanos, Chanos & Company, at CNBC’s Delivering Alpha, Sept. 28, 2022. Scott Mlyn | CNBC Renown short seller Jim Chanos will be converting his hedge fund Chanos & Co., to a family office and advisory business, CNBC has learned. The investor, best known for
Former US president Donald Trump leaves the court room of the State Supreme court on the first day of his civil fraud trial on October 2, 2023 in New York City. Kena Betancur | AFP | Getty Images A New York judge on Friday denied a request by Donald Trump and his co-defendants for a
Fidelity, an asset management firm overseeing $4.5 trillion in assets, has become the latest firm to seek approval for a spot Ethereum (ETH) exchange-traded fund (ETF). In a filing with the United States Securities and Exchange Commission (SEC) on November 17, Fidelity proposes to list and trade shares of the Fidelity Ethereum Fund on the Cboe BZX
Moody’s Investors Service affirmed its negative outlook on mass transit, highlighting Bay Area Rapid Transit as an example, even after the San Francisco rapid transit system announced it had received state funding. BART, a San Francisco Bay Area rapid transit system, announced on Wednesday that it would receive $352 million from the Metropolitan Transportation Commission
With the acceleration of technology in all markets, firms are trying to create solutions to process data — from issuer offering documents and continuing disclosures to trades and pricing and evaluations — and turn it into digestible, usable forms. For an illiquid, over-the-counter market with more than 50,000 issuers and a million securities outstanding, challenges
While pursuing his doctorate in economics at Columbia University, Oliver Giesecke came across several challenges as he was researching and collecting data on the muni market. Either it wasn’t available or it was incomplete or at times, misleading. In an effort to provide more and clearer data on certain attributes of the muni market, Giesecke,
Municipals improved Friday to close out a week of more gains despite some U.S. Treasury volatility, positioning the asset class to see historically high returns for the month. Equities ended up near the end of the trading session. Triple-A yields fell up to four basis points, depending on the curve, outperforming a mixed UST market,
The prospect of a spot Bitcoin (BTC) exchange-traded fund (ETF) being approved soon in the United States has increased demand for the major cryptocurrency, leading to a surge in transaction fees. The Bitcoin blockchain reached $11.6 million in fees paid on Nov. 16 according to statistics from CryptoFees. At the time of writing, YCharts data
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Saudi Arabia is preparing to prolong oil production cuts into next year as Opec+ weighs further reductions in response to falling prices and rising anger over the Israel-Hamas war. After prices hit a four-month low
The Biden administration’s Build America Bureau expects to close on $19.5 billion worth of transportation infrastructure projects in the next 18 months, executive director Morteza Farajian said Tuesday at the American Association of State Highway and Transportation Officials annual meeting in Indianapolis. “There’s a huge increase in the number of projects that we have in