If the Fed suddenly backed off from raising rates, that “would be beneficial for crypto,” Sam Bankman-Fried said. The 29-year-old billionaire also said he sees NFTs as an opportunity for venture capital. “There’s not nearly enough work being done in innovative NFT applications, and probably too much being done on existing NFT projects,” he said.… Continue reading FTX’s Sam Bankman-Fried says crypto would get a boost if the Fed turned less hawkish and that ‘there’s not nearly enough’ investment in innovative NFT applications
Bitcoin could plummet to $10,000 by 2023 as 3 macro factors of crypto prices suggest weakness ahead, Stifel says
Bitcoin could drop to $10,000 by 2023 as the Fed normalizes interest rate policy, according to Stifel.The firm outlined three macro factors that have a big impact on the price of bitcoin.”We see bitcoin in a broad trading range bounded by year-to-date intra-day levels with greater downside risk,” Stifel said. Loading Something is loading. Bitcoin… Continue reading Bitcoin could plummet to $10,000 by 2023 as 3 macro factors of crypto prices suggest weakness ahead, Stifel says
Companies are piling in to back China’s efforts to build a metaverse as projections for global growth in the space reach trillions of dollars
A state-backed group in China has added more companies to its committee focused on developing the metaverse, reports said Wednesday. State-owned China Mobile started the committee that’s working on creating standards and discussing technology projects for the emerging industry. The committee’s membership of companies and individuals has increased to 112. Loading Something is loading. China… Continue reading Companies are piling in to back China’s efforts to build a metaverse as projections for global growth in the space reach trillions of dollars
US stocks close mixed as investors digest Fed meeting minutes
US stocks eked out small gains on Wednesday after Federal Reserve minutes revealed no surprises to investors.The minutes showed plans for interest rate hikes to begin in March and the possibility for a faster balance sheet reduction.US retail sales rose 3.8% in January, rebounding to the highest level in 10 months amid rising inflation. Loading… Continue reading US stocks close mixed as investors digest Fed meeting minutes
The post-pandemic era will produce lower returns overall but will reward skilled stock-pickers, Goldman Sachs says
Stock-pickers and sector-pickers will be rewarded by the post-pandemic market cycle, says Goldman Sachs. The bank expects index overall index returns to be lower and tech stocks to be less dominant. Recent years have seen a surge in passive investing as hedge funds and other active investors have lagged the S&P 500. Loading Something is… Continue reading The post-pandemic era will produce lower returns overall but will reward skilled stock-pickers, Goldman Sachs says
US Sen. Sherrod Brown says crypto ads during Super Bowl did not address the ‘fraud, scams, and outright theft’ in the space
US Senator Sherrod Brown blasted the deluge of crypto ads that aired during the Super Bowl. He said the ads did not address numerous risks to investors when trying to woo newcomers. “But the ads left a few things out. They didn’t mention the fraud, scams, and outright theft,” he said. Loading Something is loading.… Continue reading US Sen. Sherrod Brown says crypto ads during Super Bowl did not address the ‘fraud, scams, and outright theft’ in the space
Short interest in stocks tied to consumer spending is the highest in a year as soaring inflation weighs on sentiment
Short selling of consumer discretionary stocks has increased as US inflation has surged to a 40-year high, said S&P Global Market Intelligence. Investors are anticipating a pullback in consumer spending as prices for essential and non-essential goods climb. Short selling in the sector rose to 4.83%, the highest since mid-January 2021, according to S&P Global.… Continue reading Short interest in stocks tied to consumer spending is the highest in a year as soaring inflation weighs on sentiment
Dow soars 422 points as investors eye possible easing of Ukraine-Russia tensions
US stocks closed higher Tuesday after Russia said it pulled back some of its troops from its border with Ukraine. The Producer Price Index rose 1% last month, marking a significant acceleration from December’s 0.2% jump. Oil prices have retreated from their eight-year highs; gold price also edged lower. Loading Something is loading. US stocks… Continue reading Dow soars 422 points as investors eye possible easing of Ukraine-Russia tensions
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