FinTech
Investor interest in equity and crypto-focused funds picking up despite the sell-off, Tifin CEO says
A Wall Street subway station near the New York Stock Exchange (NYSE) in New York, on Monday, Jan. 3, 2022. Michael Nagle | Bloomberg | Getty Images Search interest for stock funds remains strong despite the recent market sell-off, even in areas of the market that have cooled off significantly, according to trends seen by […]
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$3 billion in bitcoin was sold in a last-ditch attempt to save UST stablecoin from collapse
Bitcoin fell below the $26,000 level since December 2020. (Photo credit should read CFOTO/Future Publishing via Getty Images) CFOTO | Future Publishing via Getty Images Investors have been eager to find out what happened to the more than $3 billion in bitcoin bought up by crypto firm Terra to back its failed stablecoin. Now, they’ve […]
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Regulators are growing anxious about stablecoins after Terra’s stunning collapse
The entire stablecoin market is now worth more than $160 billion. Justin Tallis | AFP via Getty Images Regulators are getting increasingly worried about stablecoins after the collapse of controversial cryptocurrency venture Terra. TerraUSD, an “algorithmic” stablecoin that’s meant to be pegged one-to-one with the U.S. dollar, has erased much of its value this week […]
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World’s biggest stablecoin regains dollar peg after $3 billion in withdrawals
Tether has long faced questions over whether it has enough assets to justify its peg to the dollar. Tiffany Hagler | Bloomberg via Getty Images Tether, the world’s largest stablecoin, regained its peg to the dollar after more than $3 billion worth of tokens left the system in a single day. The cryptocurrency — which […]
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Goldman ‘deal guy’ behind Apple, GM cards leaves for fintech start-up iCreditWorks
iCreditWorks CEO Scott Young, former chief commercial officer of Goldman Sachs Marcus. Courtesy: Goldman Sachs A Goldman Sachs executive known for securing some of the industry’s biggest credit-card deals in recent years has left to join early stage start-up iCreditWorks, CNBC has learned. Scott Young, who was chief commercial officer of Goldman’s Marcus consumer business, […]
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The world’s biggest stablecoin has dropped below its $1 peg
Crypto firm Tether has been reducing the amount of commercial paper in its reserves. Jakub Porzycki | Nurphoto | Getty Images Tether, the world’s largest stablecoin, broke below its $1 peg Thursday amid panic in the crypto market. The token sank to as low as 98 cents at around 3:30 a.m. ET, according to data […]
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Bitcoin tumbles below $27,000 for first time since December 2020 as crypto sell-off intensifies
Bitcoin plunged further below the $30,000 mark as investors fled cryptocurrencies. Jaap Arriens | NurPhoto | Getty Images Bitcoin slumped below $27,000 Thursday for the first time in over 16 months, as cryptocurrency markets extended their losses amid fears over rising inflation and the collapse of a controversial stablecoin project. The price of bitcoin plunged […]
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Grayscale tells SEC that turning biggest bitcoin fund into ETF will unlock $8 billion for investors
Michael Sonnenshein, CEO, Grayscale Investments at the NYSE, April 18, 2022. Source: NYSE Grayscale, the asset manager running the world’s largest bitcoin fund, met privately with the Securities and Exchange Commission last week in an effort to persuade the regulator to approve the conversion of its flagship fund into an ETF, CNBC has learned. Turning […]
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Controversial stablecoin UST — which is meant to be pegged to the dollar — plummets below 50 cents
Bitcoin, the world’s largest cryptocurrency, has fallen over 50% since setting an all-time high of nearly $69,000 in November. Dan Kitwood | Getty Images The two main tokens from embattled crypto project Terra are now in freefall. UST, a so-called stablecoin that’s meant to maintain a $1 peg, plunged to as low as 31 cents […]
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SoFi stock falls, trading halted after fintech firm accidentally releases first-quarter report early
Pedestrians walk by the SoFi Technologies headquarters on February 22, 2022 in San Francisco, California. Justin Sullivan | Getty Images Shares of SoFi fell sharply on Tuesday and were halted after the company accidentally released its first-quarter results early. The company said the report, which was scheduled for after market close on Tuesday, was released […]
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