FinTech
Crypto ETFs get first major test after $370 billion market sell-off
Omar Marques | Lightrocket | Getty Images Bitcoin and ether are gaining back ground after falling to their lowest level in six months on Monday in the first major test of the recently launched crypto exchange-traded funds. As of early Monday, roughly $370 billion dollars had been wiped off the market cap of all digital […]
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Bitcoin miner Core Scientific rides AI from bankruptcy to $6.7 billion partnership in eight months
In January, U.S. bitcoin miner Core Scientific was bankrupt and battling angry lenders. Since its return to the stock market that month, the share price is up 140% as the company aggressively goes after building a business in artificial intelligence. On Tuesday, the mining firm announced an expanded deal worth $6.7 billion with CoreWeave, an Nvidia-backed startup that’s one […]
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Crypto selloff wipes out $270 billion in value as bitcoin, ether plunge
Nurphoto | Nurphoto | Getty Images The cryptocurrency market plummeted in value on Sunday, as investors continued selling out of risky assets. Led by a drop of 11% in bitcoin in the past 24 hours and a 21% plunge in ether, the overall value of cryptocurrencies sank by about $270 billion, according to CoinGecko data. […]
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Morgan Stanley tells wealth advisors they can pitch bitcoin ETFs in a first for a big bank
Key Points Morgan Stanley on Friday told its army of financial advisors that it will soon allow them to offer bitcoin ETFs to some clients, a first among major Wall Street banks, CNBC has learned. The firm’s 15,000 or so financial advisors can solicit eligible clients to purchase shares of two exchange-traded bitcoin funds starting […]
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Block reports better-than-expected earnings for second quarter
Block beat on profit in its second-quarter earnings report on Thursday. The stock rose in extended trading. Here is how the company did, compared to analysts’ consensus estimates from LSEG. Earnings per share: 93 cents adjusted vs. 84 cents expected Revenue: $6.16 billion vs. $6.28 billion expected Block, formerly known as Square, posted $2.23 billion […]
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Trump’s bitcoin strategy was shared behind closed doors with CEOs who raised $25 million. Here’s what he told them.
Former President and 2024 Republican presidential candidate Donald Trump gestures while giving a keynote speech on the third day of the Bitcoin 2024 conference in Nashville, Tennessee on July 27, 2024. Jon Cherry | Getty Images News | Getty Images NASHVILLE — On Saturday morning at around 11:00 A.M. at the world’s biggest bitcoin conference […]
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This AI-powered financial advisor has quickly gained $20 billion in assets
AI-generated responses are becoming more common, whether travelers know or not. Westend61 | Getty Images An automated financial advisor called PortfolioPilot has quickly gained $20 billion in assets in a possible preview of how disruptive artificial intelligence could be for the wealth management industry. The service has added more than 22,000 users since its launch […]
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Trump’s Bitcoin speech aims to lock down crypto support as Harris gains momentum
Republican presidential nominee and former U.S. President Donald Trump walks off stage after speaking at a campaign rally at the Van Andel Arena in Grand Rapids, Michigan, on July 20, 2024. Anna Moneymaker | Getty Images NASHVILLE — Former president Donald Trump headlines the biggest bitcoin conference of the year on Saturday afternoon, as the race to capture the votes and the […]
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Trump raises more than $4 million in bitcoin, other digital coins as crypto support pays off
Republican Presidential nominee and former President Donald J. Trump holds campaign rally at the Van Andel Arena in Grand Rapids, Michigan on July 20, 2024. Bill Pugliano | Getty Images News | Getty Images NASHVILLE — Former President Donald Trump is headed to Tennessee this weekend to deliver a keynote address at a major bitcoin conference. […]
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Grayscale’s $9 billion head start in ethereum is at risk as big investors launch ETFs
Representation of cryptocurrency and Gayscale logo displayed on a phone screen. Jakub Porzycki | Nurphoto | Getty Images For crypto firm Grayscale, it’s deja vu in the ETF market. On Tuesday, the first spot ether exchange-traded funds hit the U.S. The ETFs will invest directly in ether, the cryptocurrency used in the Ethereum network, allowing […]
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