Tuesday was a relatively calm day for the U.S. stock market, with slight gains in major indexes. However, by Wednesday afternoon, Dow Jones futures had dipped by 0.1%, while S&P 500 and Nasdaq futures saw modest rises. This happened while U.S. markets were closed for the Juneteenth holiday, though global exchanges remained open. Nvidia’s Impressive…
Jeremy Allaire, the co-founder and CEO of Circle, the company behind USDC, the world’s second-largest stablecoin, exudes optimism about cryptocurrency’s future. This enthusiasm isn’t a passing phase for Allaire, a seasoned veteran of the crypto space who has observed Bitcoin’s evolution since its inception. He believes that the current moment is the most promising he’s…
In a significant move, the North Dakota Department of Financial Institutions has revoked Binance US’s money transmitter license, citing the company’s failure to comply with state laws and the ongoing legal issues of its founder, Changpeng Zhao. This decision deals a major blow to the cryptocurrency exchange’s operations within the United States. Non-Compliance with North…
The cryptocurrency market has experienced a notable surge in AI-related tokens this week, reflecting the excitement surrounding Nvidia’s recent ascendancy. Fetch.ai (FET) emerged as the leader, with its value soaring by an impressive 23% in the last 24 hours. This surge coincides with Nvidia’s historic rise to the top, overtaking Microsoft as the world’s most…
A recent report by investment firm Bernstein signals a significant shift in the cryptocurrency landscape, with Bitcoin (BTC) and crypto-linked stocks poised for a major wave of institutional adoption. This article delves into Bernstein’s insights, exploring the potential ramifications for the future of Bitcoin and the cryptocurrency market. Debunking the Bearish Narrative Contrary to skeptics’…
Samara Cohen, BlackRock’s chief investment officer for index investments, has noted that financial advisors remain cautious about spot Bitcoin exchange-traded funds (ETFs) despite their recent success. Cohen attributes this caution to the inherent volatility and the relatively nascent stage of Bitcoin and its ETFs. Spot Bitcoin ETFs’ Success Since their debut in January 2024, spot…
Federal Reserve Governor Adriana Kugler has expressed optimism about the potential for an interest rate cut later this year, anticipating a continued decline in inflation. Speaking at the Peterson Institute for International Economics in Washington on Tuesday, Kugler discussed the current economic climate and the possible direction of monetary policy. Inflation Concerns and Positive Trends…
The fervor in the US stock market showed no signs of abating on Tuesday, as the S&P 500 hit yet another record high. However, the most captivating story was the rise of chipmaker giant Nvidia. Nvidia’s Meteoric Rise Fueled by relentless momentum in artificial intelligence (AI), Nvidia’s stock price surged 3%, surpassing Microsoft to become…
MicroStrategy: A Bold Pioneer in the Bitcoin Capital Markets MicroStrategy (MSTR), a company traditionally known for its business intelligence software solutions, has taken the financial world by storm with its innovative approach to Bitcoin. Investment giant Bernstein recently recognized MicroStrategy as a true trailblazer in the nascent field of Bitcoin capital markets, far exceeding the…
Bitcoin’s price plummeted to a one-month low, declining from $67,000 to $64,500 after three consecutive days of outflows from its spot exchange-traded funds (ETFs). This downturn also affected other major cryptocurrencies, including Ethereum, Solana, and Toncoin, each experiencing a drop of over 3%. Token Unlocks Contribute to Downward Pressure Markus Thielen, founder of 10x Research,…
Publicly traded Bitcoin mining companies in the US experienced a surge in their combined market capitalization, briefly reaching $22.8 billion on June 15. This increase was fueled by a rise in stock prices and an expanded share of the network hashrate. Diversification into AI Data Centers JP Morgan attributes part of this growth to diversification…
Neel Kashkari, president of the Minneapolis Federal Reserve Bank, has urged caution regarding potential interest rate cuts. In a recent interview, Kashkari emphasized that the Federal Reserve is likely to wait until December before making any adjustments, focusing on a data-driven approach to ensure inflation is on a downward path. “We need to see more…