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☆ Bitcoin just completed its fourth-ever 'halving,' here’s what investors need to watch now
▼ + stars: | 2024-04-19 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

Dado Ruvic | ReutersThe Bitcoin network on Friday night slashed the incentives rewarded to miners in half for the fourth time in its history. JPMorgan said it expects to see some downside in bitcoin post-halving and Deutsche Bank said it "does not expect prices to increase significantly." However, the impact may be bigger months from now, even if bitcoin continues its trend of diminishing returns from its halving day to its cycle top. "This process, known as mining, rewards miners with newly minted bitcoins. But with each halving, the reward to mining is decreased to maintain scarcity and control the cryptocurrency's inflation rate over time."

Persons: Dado Ruvic, bitcoin, Mark Palmer, Matthew Galinko, Marion Laboure Organizations: JPMorgan, Deutsche Bank, Miners

☆ This Nvidia derivative play can more than double from current prices, Benchmark says
▼ + stars: | 2024-03-14 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

One derivative play on Nvidia is a buying opportunity that can more than double from current prices, according to Benchmark. Analyst Mark Palmer initiated coverage of Bitdeer Technologies with a buy rating in a report out Thursday. That view is driven in part by a key partnership with Nvidia that will help Bitdeer expand into artificial intelligence. In November, Bitdeer announced it will be a preferred cloud service provider for Nvidia 's partner network. But Benchmark's $13 price target implies the stock could nearly double from Wednesday's closing price of $6.74 per share.

Persons: Mark Palmer, Palmer, Bitdeer, BTIG's Gregory Lewis, — CNBC's Michael Bloom Organizations: Nvidia, Bitdeer Technologies Locations: Singapore, U.S, Norway, Bhutan

UBS hiked its price target on Nvidia , citing an attractive valuation and strong demand for its chips. The firm upgraded shares to overweight from neutral and upped its target price by $17 to $68, which implies 24.3% potential upside. He upgraded shares to buy from neutral and increased his price target from £17 to £21. — Pia Singh 5:47 a.m.: UBS hikes Nvidia price target UBS is getting even more bullish on Nvidia ahead of the chipmaker's fiscal fourth-quarter earnings report. Despite the price target increase, Nvidia shares were down 1% in the premarket.

Persons: Riley Securities downgrades, Jeff Lick, Children's, Lick, — Pia Singh, Piper Sandler, Trimble, Clarke Jeffries, Mark Palmer, Palmer, Andrew Baum, Baum, GSK's, Timothy Arcuri, Arcuri, NVDA, Fred Imbert Organizations: CNBC, UBS, Nvidia, Citi, GSK, Riley Securities, Children's, Investment, Block Locations: Lick, Monday's, C2H

☆ One-third of the world's captive orcas are in the US, and no one can agree on what to do with them
▼ + stars: | 2023-10-07 | by ( Erin Heger | ) www.businessinsider.com time to read: +12 min

There are 18 captive orcas in the US. Captive orcas can also show signs of chronic stress. Captive orcas can suffer a number of health problems including severe tooth damage. The history of releasing captive orcas in the USOnly one captive orca in the US has ever been released back into the ocean — Keiko, the orca who starred in the 1993 film "Free Willy." Captive orcas can't thrive in small tanks but may not thrive in the wild, either.

Persons: Naomi Rose, Rose, Marcos del Mazo, Monika Wieland Shields, Tilikum, Shields, aren't, Chris Dold, Dold, Keiko, Willy, Colin Davey, Keiko wasn't, Mark Palmer, Palmer, Little Grey, White, Aaron Chown, Lori Marino, Marino, Paul Harris, we've, Serge MELESAN, orcas Organizations: SeaWorld, Animal, Service, Animal Welfare Institute, Orca Behavior, Magnolia Pictures, Miami Seaquarium, Miami Herald, Tribune, Getty, Mammal, PETA Locations: SeaWorld, SeaWorld Orlando, Florida, Mexico City, Oregon, Iceland, Norway, Washington, Caribbean, Nova Scotia

☆ What's good for bitcoin might not necessarily be good for Coinbase, analysts say
▼ + stars: | 2023-08-30 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

Many see the news as a strong signal that a U.S. bitcoin ETF will inevitably be green lit, which would help boost adoption of bitcoin. "If crypto trading transfers away from trading Coinbase directly and into ETFs (which, for many investors, might be the preferable way to get exposure), trading activity at Coinbase could decline further." Coinbase shares rallied nearly 15% Tuesday following the news, but the stock was down nearly 1% in trading Wednesday. "We believe a bitcoin ETF could increase competition and put pricing pressure on retail take rates. Plus, COIN's reliance on bitcoin revenue has only increased, from 31% of transaction revenue in 2Q22 to nearly 40% in 2Q23."

Persons: Bitcoin, —, Benjamin Budish, Coinbase, Mizuho, Dan Dolev, Dolev, Mark Palmer, Palmer, Michael Bloom Organizations: U.S . Securities, Exchange Commission, U.S ., Appeals, SEC, Barclays, ETF Locations: U.S, Bitcoin, 2Q22, 2Q23

☆ This beaten-up bitcoin proxy should rebound 35% as the cryptocurrency reclaims the spotlight, Berenberg says
▼ + stars: | 2023-04-28 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +1 min

Bitcoin is back in a bull market by many accounts and is poised to continue its 2023 rally as the rest of crypto comes under regulatory scrutiny. Equity investors interested in riding bitcoin's current uptrend should consider buying shares of Microstrategy , the enterprise analytics firm and bitcoin proxy, according to Berenberg Capital Markets. Microstrategy offers "the most attractive means" through which investors can express a view on bitcoin, Palmer said, citing its correlation of 0.90 to the crypto asset for his stance. The mandates of many institutional investors preclude them from purchasing bitcoin directly. "MSTR's stock offers a leveraged means through which investors can take advantage of that event."

The article was one of a series of reports this year by the news agency on Binance's financial compliance and relationship with regulators across the world. Reuters also asked representatives of the local Binance units and affiliates about their relationship with the main Binance exchange. In Italy, Binance's public corporate filings detail just the unit's capital base and its ownership by a separate Binance company in Ireland. The Italian company, Binance Italy S.R.L., has its listed address in a block of shops and apartments in the southern city of Lecce. Just two of the Binance units analysed by Reuters offer more substantial details in their filings.

☆ Crypto crash and gold sell-off show there’s no place for investors to hide
▼ + stars: | 2022-11-10 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +5 min

Bitcoin prices are currently hovering around $16,500, down from a level of $20,000 just a week ago. Gold, like bitcoin, then surged in the latter part of 2020 as a sort of safe haven trade. Why buy gold or digital assets when the greenback is proving to be the king of currencies? Bitcoin prices have been notoriously volatile over the past few years, but they have still done better than many major stock market indexes. One venture capitalist who focuses on bitcoin and crypto assets agreed that FTX’s problems won’t derail the entire digital assets universe.

☆ What the FTX debacle means for crypto's attempt to become a legitimate asset class
▼ + stars: | 2022-11-09 | by ( Bob Pisani | ) www.cnbc.com time to read: +5 min

What happens to other crypto platforms like Coinbase? That creates an opportunity for centralized, regulated, retail-focused crypto platforms (like Coinbase). What does this mean for the crypto space? We believe the episode is likely to accelerate regulation of the crypto space in the U.S. and elsewhere. Bitcoin has already been determined to be a commodity and not a security, but other crypto tokens may be deemed to be securities.

☆ Coinbase jumps after Wall Street cheers cost-cutting measures, active user numbers
▼ + stars: | 2022-11-04 | by ( Carmen Reinicke | ) www.cnbc.com time to read: +4 min

Active user jump Where analysts see the potential for optimism in Coinbase's report is in its reported active monthly users. While active monthly users dipped in the quarter to 8.5 million from 9 million, the company handily beat Wall Street's expectations of 7.84 million monthly active users. Budish also lowered his price target after management's guidance but maintained his equal weight rating on the Coinbase. The result was that lower trading volume drove Coinbase trading revenue to the lowest level since becoming a public company." Cowen has an outperform rating on shares of Coinbase and a $75 price target, albeit down from an earlier $85.

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