The Federal Reserve left interest rates unchanged today, as expected, but surprised markets by dialing back its forecast for rate cuts this year. In a statement, the Fed acknowledged some progress on inflation but indicated it would take a more cautious approach to lowering rates. The central bank now expects just one rate cut in…
Investors in U.S.-listed spot Bitcoin ETFs pulled out a combined $65 million on Monday, ending a record 19-day streak of inflows, according to data. This shift comes amidst a broader market downturn and key economic events on the horizon. Grayscale’s GBTC led the outflows with $40 million, continuing its trend as the worst performer since…
The S&P 500 and Nasdaq Composite closed at record highs on Tuesday, fueled by Apple’s jump to an all-time peak. The broader S&P 500 rose 0.27%, while the tech-heavy Nasdaq gained 0.88%. Both indexes even surpassed previous highs during trading. However, the Dow Jones took a different direction, dropping 0.31%. Analysts believe investors shifted their…
Apple (AAPL) stock surged 7% on Tuesday, closing at a record high for 2024. This surge came after a dip on Monday, the day of Apple’s WWDC conference. Investors reacted positively to the announcement of Apple Intelligence, the company’s new AI platform. Wall Street analysts were enthusiastic. D.A. Davidson analyst Gil Luria upgraded Apple’s stock…
Tether, the company behind the world’s biggest stablecoin USDT, is aiming to invest heavily in technology. Their venture capital arm is looking to make deals worth $1 billion over the next year, according to CEO Paolo Ardoino. Ardoino highlighted artificial intelligence (AI), financial infrastructure, and biotechnology as their key investment areas. This focus aligns with…
Bitcoin prices bounced back on Tuesday afternoon, reaching $67,300 after dipping to $66,177 earlier in the day. This marked the first time this month that Bitcoin fell below $67,000 and its lowest point since mid-May, according to CoinDesk data. Despite the rebound, Bitcoin remains more than 3% lower compared to its high of $69,711 from…
In a move to protect users, the Solana Foundation has booted a group of validator operators from its delegation program. These operators were caught engaging in “sandwich attacks,” a deceptive practice that exploits users on the network. How Do Sandwich Attacks Work? Imagine you’re trying to buy a stock. A malicious actor might spot your…
Chipmaker Nvidia boasts a staggering 25-fold performance lead over Apple since the start of 2024. This comes as Nvidia prepares to execute a highly anticipated 10-to-1 stock split. Year-to-date (YTD), Nvidia stock skyrocketed over 150%, while Apple shares gained a modest 6%, according to Nasdaq data. Even in the short term, Nvidia outpaces Apple, with…
At a recent fundraiser, former US President and current Republican Presidential candidate Donald Trump declared himself the “crypto president,” according to attendees. Trump positioned himself as a robust advocate for cryptocurrency, taking a stance against Democratic regulatory efforts. The event, which took place at the Pacific Heights home of tech venture capitalists David Sacks and…
The legal battle between the SEC and Ripple continues to cast a shadow over the cryptocurrency market. Investors are anxiously waiting for the court’s decision on whether Ripple’s XRP sales to institutional investors violated US securities laws. A potential loss for Ripple could result in a hefty fine and a court order (injunction) restricting them…
While Bitcoin fell short of $70,000 this week, analysts predict a fresh record is on the horizon. “A new all-time high for Bitcoin is inevitable,” declared Markus Thielen, CEO of 10x Research, in a June 7th note. Thielen identified a nearing completion of a bullish “head and shoulders” chart pattern. This could trigger “a surge…
Keith Gill, the online influencer known as “Roaring Kitty,” returned to the spotlight with a livestream on Friday, but it wasn’t enough to save GameStop’s stock from a steep decline. Despite over 600,000 viewers tuning in, Gill’s jokes and disclaimers couldn’t reverse the nearly 40% drop after GameStop announced a $3 billion stock sale. Gill,…