Markets

A top executive at DeFi platform Wonderland was revealed to be Michael Patryn, a cofounder of failed crypto exchange QuadrigaCX. Regulators concluded that QuadrigaCX was a Ponzi scheme after about $190 million of crypto went missing in 2018.  Wonderland’s token, TIME, plummeted to an all-time low of $335 Thursday, down from its November peak of… Continue reading The Wonderland DeFi community is scandalized after a Twitter user outed an anonymous executive with ties to one of the largest crypto Ponzi schemes in history

The recent market slump may be an overreaction to potential rate hikes from the Fed, analyst says.  Signs, like GDP and high-yields, aren’t pointing to a big slowdown or even a recession, he said. “What the market is saying is pretty ominous,” but the data is more positive. Sign up here for our daily newsletter,… Continue reading The stock market slump is raising recession fears but the actual data isn’t so ‘ominous,’ analyst says

Prices for cryptocurrencies have largely dropped in 2022 in volatile price action.  While big intraday swings and price action are dramatic, institutional investors aren’t deterred by its overall growth prospects, said experts.  Bitcoin “doesn’t seem to be scaring off the institutions. In fact, they’re capitalizing off of it,” said one crypto expert. Sign up here… Continue reading Bitcoin’s volatility won’t shake the confidence of institutional investors, 2 experts say

US Markets Loading… H M S Y2K hairstyles are in vogue. Gina Wetzler/Getty Images Feeling nostalgic during economic distress, Gen Z found solace in the 90s and early 2000s. They revived four subcultures: Y2K, indie sleaze, old money, and twee. Nostalgia fashion is now shaping consumer behavior, as brands and shoppers cater to Gen Z… Continue reading From Y2K to old money, inside the 4 subcultures Gen Z revived during the pandemic

Warren Buffett reflected on the root causes of the financial crisis in a 2010 interview. The billionaire investor discussed speculation, asset bubbles, and the dangers of using leverage. Buffett praised the Fed and Treasury for acting quickly to prevent the banking system’s collapse. Sign up here for our daily newsletter, 10 Things Before the Opening… Continue reading Warren Buffett explained how bubbles form, warned against using leverage, and shared the key thing he looks for in businesses during a 2010 interview. Here are the 10 best quotes.

Netflix stock soared 10% on Thursday after Bill Ackman revealed a $1.1 billion bet on the streaming giant.His Pershing Square hedge fund purchased 3.1 million shares after a post-earnings decline.”We have greatly admired Netflix both as consumers and as investors, but have never previously owned a stake in the company,” Ackman said.Sign up here for… Continue reading Netflix soars 10% after Bill Ackman reveals a $1.1 billion bet on the streaming giant

Goldman Sachs president John Waldron criticized the Fed’s credibility to rein in inflation, Bloomberg reported. Waldron questioned its ability to act as an “independent, monetary policy engine.” “They have a chance here to do that, but I am a little worried about whether they’ll stand up and do it,” he said. Sign up here for… Continue reading Goldman Sachs president John Waldron reportedly criticized Fed credibility and slammed its performance as an independent policymaker

Bill Ackman’s Pershing Square built a billion-dollar Netflix stake in four trading days. The investor’s hedge fund pounced on Domino’s Pizza stock in a similar fashion last year. Ackman has acted quickly during the pandemic, buying and selling stocks and hedges. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Bill… Continue reading Bill Ackman plowed more than $1 billion into Netflix stock in 4 days. The investor has pounced on several beaten-down stocks during the pandemic.