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Bitcoin, the most well-known cryptocurrency, paved the way for the cryptocurrency asset class. Now the cryptocurrency of choice, its meteoric rise was unlike any other commodity, resource or asset. Bitcoin’s price rose more than 1,200 percent from March 2020 to reach US$69,044 on November 10, 2021. The currency showcased its famous volatility in the following year, falling as low as US$15,787 by November 2022 amid economic uncertainty and a wave of negative media coverage. The cryptocurrency started 2024 just below US$45,000 and has seen substantial gains in the first half of this year. Bitcoi...
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Citigroup has been fined £61.6 million (€72.3 million) by UK trading supervisors due to failures in its systems and controls. The penalties, issued by the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA), were linked to issues arising between 2018 and 2022. In one case, dating back to May 2022, a Citi error provoked a flash crash in European stocks, as $1.4 billion (€1.3 billion) of equities were sold in a "fat-finger" trade. A Citi trader had intended to sell a basket of equities to the value of $58 million (€53.5 million), but instead accidentally created a bas...
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As the market for digital assets continues to grow, investors are looking for new ways to gain exposure to cryptocurrencies. Spot Ether exchange-traded funds (ETFs) could be an easy way for crypto enthusiasts to benefit from the price movements of Ether, the largest cryptocurrency by market capitalization after Bitcoin. Almost immediately after the historic approval of spot Bitcoin ETFs by the US Securities and Exchange Commission (SEC) on January 10, the discussion turned to the possibility of spot ETFs for other cryptocurrencies, with Ethereum being a prime candidate. On January 12, Blackroc...
Investing News Network
CME Group (NASDAQ:CME) is rumored to be in talks to offer spot Bitcoin trading in the near future. Meanwhile, lawmakers voted to roll back a crypto policy introduced by the US Securities and Exchange Commission (SEC) in 2022, a move that President Joe Biden has said he plans to veto, and OpenAI has gained a new partner. Stay informed on the latest developments in the tech world with the Investing News Network's round-up. 1. Reddit to bring content to ChatGPTThe Nasdaq-100 (INDEXNASDAQ:NDX) was up 1.93 percent this week, with a 0.7 percent bump seen on Tuesday (May 14) following April’s higher-...
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Over three years after the infamous GameStop (NYSE:GME) short squeeze, the American retailer’s share price skyrocketed as much as 110 percent on Monday (May 13) before pulling back to a more than 70 percent gain. The surge came on the heels of a social media post by "Roaring Kitty," also known as Keith Gill. His first online appearance since 2021 has reignited memories of the meme stock frenzy that captivated markets in 2021. Gill, who gained notoriety for his bullish stance on GameStop, posted a meme on X (formerly Twitter) depicting a focused video gamer. It received widespread attention, ac...
Investing News Network
The US Securities and Exchange Commission (SEC) said this week that it is further delaying its decision on spot Ethereum exchange-traded funds (ETFs), dashing what little hope remained of an approval in 2024. Meanwhile, Apple (NASDAQ:AAPL) unveiled two newly designed iPads with artificial intelligence (AI) capabilities, and two tech companies reported their quarterly earnings, prompting very different reactions from investors. Stay informed on the latest developments in the tech world with the Investing News Network's round-up. 1. SEC delays decision on Invesco Galaxy Spot Ethereum ETFThis wee...
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As cryptocurrencies continue to make waves in the world of finance, the Australian Securities Exchange (ASX) is reportedly preparing to join the growing list of exchanges adopting crypto-based financial products. While CBOE Australia, another exchange, has allowed spot Bitcoin exchange-traded funds (ETFs) since April 2022, the ASX is poised to cater to a wider audience of investors if it welcomes these popular investment vehicles. VanEck leads charge toward ASX spot Bitcoin ETFsLeading investment firm VanEck has been pushing for the ASX to allow the trading of spot Bitcoin ETFs since 2021. Fol...
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Apple (NASDAQ:AAPL) reported its Q2 earnings on Thursday (May 2), wrapping up two weeks of quarterly earnings reports. Meanwhile, researchers at the US Department of Energy discovered that automation could enhance economic opportunities in the country's wind turbine industry, and the case against Google led by the US Department of Justice (DOJ) wound down with closing arguments on Friday (May 3). Stay informed on the latest developments in the tech world with the Investing News Network's round-up. 1. Apple's quarterly earnings beat analysts expectationsApple reported its Q2 earnings report aft...
Investing News Network
April was a game-changer for the cannabis industry. After deliberating for almost five months, the Drug Enforcement Administration moved to reschedule cannabis as lawmakers worked to combine the SAFER Banking Act with newly introduced stablecoin legislation. Meanwhile, controversy struck as legal cannabis was seized in New Mexico, Canada's Federal Budget 2024 was released with no mention of reform to high excise tax rates, and the saga of a once high-end cannabis dispensary finally ended in bankruptcy. Keep reading to discover more about these industry-shaping events. DEA finally moves to resc...
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The US Federal Reserve announced on Wednesday (May 1) that it will hold its benchmark interest rate at 5.25 to 5.5 percent following its two day Federal Open Market Committee (FOMC) meeting. In a press conference, Fed Chair Jerome Powell largely echoed previous statements, suggesting the committee will hold rates steady until it has more confidence that inflation is on a sustainable path to its 2 percent target. This was in line with analysts' pre-meeting expectations based on recent data from various government agencies. Higher-than-expected personal consumption expenditures price index data ...
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