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Dollar droops as key U.S. data looms; yen firms on CPI beat
  + stars: | 2024-02-27 | by ( ) www.cnbc.com   time to read: +2 min
The dollar traded on the back foot on Tuesday, as markets looked ahead to a week of key U.S. economic data that will provide fresh signals on how soon the Federal Reserve may begin cutting interest rates. The dollar traded on the back foot on Tuesday, as markets looked ahead to a week of key U.S. economic data that will provide fresh signals on how soon the Federal Reserve may begin cutting interest rates. The U.S. dollar index , which measures the currency against a basket of peers including the yen and euro, traded flat at 103.78 early in Asian time, following a 0.17% slide on Monday. U.S. durable goods data is due later on Tuesday, while January's U.S. personal consumption expenditures price index, which is the Fed's preferred measure of inflation, will be released Thursday. The dollar slipped 0.1% to 150.54 yen as a slightly hotter-than-expected reading for Japan's January consumer price index kept the BOJ on track to exit negative interest rate policy as soon as next month.
Persons: CME's, Richard Franulovich, Cryptocurrency bitcoin Organizations: Federal Reserve, Bank of Japan's, U.S, January's, New Zealand, Aussie, Traders, Reserve Bank of New, MicroStrategy Inc Locations: January's U.S, Reserve Bank of New Zealand
The 2.7 million individual trades were far lower than the 5.2 million trades from the Friday a week prior. In fact, the options market itself is saying there is only a 10% chance these calls expire in the money. Call spread risk reversal: Bought MSTR Dec. $600 call $15.40 Sold MSTR Dec. $650 call $8.85 Sold MSTR Dec. $430 put $7.20 Net credit = 65 cents When one sells a downside put one is taking the risk of purchasing the underlying at the strike of the put that is sold. The options flow in these ETFs suggests traders are betting on lower oil and gas prices. Several big names will be reporting earnings, here is a table of those that have weekly options, their earnings-related implied moves, and our options sentiment score.
Persons: Crypto, MARA, outpacing, ProShares UltraShort Organizations: Coinbase Global Inc, Marathon Digital Holdings, Microstrategy Inc, Bollinger Bands, Bloomberg, Oil, ProShares, Gas, ProShares UltraShort Bloomberg, United States Oil Fund, Hecla Mining Co, Royal, Inc, Intuit, Marvell Technology Locations: United States, Opec, Hecla, Kroger
The U.S. Securities and Exchange Commission (SEC) had accused Ripple Labs and its current and former chief executives of selling unregistered securities when conducting a $1.3 billion offering for XRP, which was created in 2012. Shares in Coinbase, which is also embroiled in litigation with the SEC over its trading of crypto tokens, surged 24.5% on Thursday following the decision, finishing at $107. Coinbase said it would allow trading of the XRP token again on its platform in line with the court ruling. Bitcoin , the world's largest cryptocurrency, was last up 4.1% at 31,584 while Ethereum , the world's second-largest cryptocurrency, rose 6.43% to $1,993.3. Reporting by Chibuike Oguh in New York; editing by Michelle Price and Deepa BabingtonOur Standards: The Thomson Reuters Trust Principles.
Persons: Coinbase, We've, Analisa, Torres, Paul Grewal, Chibuike Oguh, Michelle Price, Deepa Babington Organizations: YORK, Coinbase Global Inc, Ripple Labs, U.S . Securities, Exchange Commission, SEC, Labs, Inc, Marathon Digital Holdings Inc, Microstrategy Inc, Mining Corp, Twitter, Thomson Locations: U.S, Coinbase, New York
These 74 stocks are picked by AI ETF managers. What she believes is unique about her fund is its heavy focus on quantum computing technology, making up 41.22% of the fund. While big data is used for different technologies, it enables AI to work with massive data sets in its machine-learning process. TipRanks, a financial technology website that uses AI to analyze financial data, created a stock list for what they deem are the best AI stocks based on popularity. TipRanks' list of nine of the best AI stocks have large market caps and are likely to remain relevant for a long time.
Bitcoin, USDC stablecoin rally after U.S. intervenes on SVB
  + stars: | 2023-03-13 | by ( ) www.reuters.com   time to read: +3 min
SINGAPORE, March 13 (Reuters) - Bitcoin and other cryptocurrencies rallied on Monday after U.S. authorities announced plans to limit the fallout from the collapse of Silicon Valley Bank (SVB) and as cryptocurrency firm Circle assured investors its peg was secure. The moves came as authorities took possession of New York-based Signature Bank (SBNY.O), the second bank failure in a matter of days. Stablecoin USD Coin (USDC) recovered to $0.9917, closer to its par and up from last week's lows around $0.88. Over the weekend, USDC had lost its 1:1 dollar peg and hit a record low on Saturday on concerns over the exposure of Circle — the firm behind USDC — to Silicon Valley Bank. Circle CEO Jeremy Allaire said in a tweet its $3.3 billion USDC reserve deposit held at the collapsed Silicon Valley Bank (SIVB.O) will be fully available when U.S. banks open Monday.
La Jolla, California-based Silvergate, one of the most influential banks in the digital asset industry, also said it has made a "risk-based decision" to discontinue the Silvergate Exchange Network that enabled crypto payments. loadingCoinbase Global (COIN.O):The crypto exchange said it was no longer accepting or initiating payments to or from Silvergate. loadingCrypto.com:A spokesperson for the crypto exchange said in an emailed statement to Reuters it was temporarily suspending USD deposits and withdrawals via Silvergate out of caution. Gemini:The crypto firm said on Twitter it has stopped accepting customer deposits/processing withdrawals via automated clearing house (ACH) and wire transfers through Silvergate on the Gemini exchange. loadingCboe Clear Digital:The company said it would be pausing all transactions with Silvergate Bank at this time until further notice.
Crypto Stocks Jump Despite Looming Regulatory Pressure
  + stars: | 2023-02-16 | by ( Vicky Ge Huang | ) www.wsj.com   time to read: 1 min
The shares of Coinbase Global are among the crypto stocks that surged Wednesday. Prices of crypto stocks and currencies jumped in tandem on Wednesday after the Securities and Exchange Commission proposed a rule that could squeeze digital asset platforms such as Coinbase Global Inc.Shares of Coinbase were up 17% on the day. MicroStrategy Inc., a bitcoin-buying business-software company, rose 10%. Silvergate Capital Corp. and Signature Bank , two crypto banks that have come under pressure due to their links to collapsed crypto exchange FTX, were up 29% and 3.6%, respectively. Bitcoin, the largest cryptocurrency, rose 7% to trade at around $23,717.
These 74 stocks are picked by AI ETF managers. What she believes is unique about her fund is its heavy focus on quantum computing technology, making up 41.22% of the fund. While big data is used for different technologies, it enables AI to work with massive data sets in its machine-learning process. TipRanks, a financial technology website that uses AI to analyze financial data, created a stock list for what they deem are the best AI stocks based on popularity. TipRanks' list of nine of the best AI stocks have large market caps and are likely to remain relevant for a long time.
There are currently no specific accounting or disclosure rules for crypto assets in the U.S. Businesses classify them as indefinite-lived intangible assets, similar to intellectual property such as trademarks. Then, in October, it said companies should use fair-value accounting to measure bitcoin and other crypto assets. For example, companies could receive payment from customers in the form of crypto assets that are prohibited from sale for three months. These companies disclose information about large crypto holdings, but potentially not the full picture.
Crypto stocks slide as FTX prepares for bankruptcy proceedings
  + stars: | 2022-11-11 | by ( ) www.reuters.com   time to read: +2 min
Nov 11 (Reuters) - Shares of cryptocurrency and blockchain-related firms dropped on Friday after FTX, one of the biggest crypto exchanges, said it would initiate bankruptcy proceedings in the United States, triggering a potentially massive meltdown in the industry. Silvergate Capital (SI.N) declined 10%, leading the losses in the sector, while bitcoin holder MicroStrategy Inc (MSTR.O) slipped 2.6%. Bitcoin fell 3.6% to $16,919 as FTX Chief Executive Sam Bankman-Fried said he will step down from his position. The turmoil at FTX, which has rescued other players during the crypto market's recent crash, has raised concerns about the future of the crypto industry. ProShares Bitcoin Strategy ETF (BITO.P) fell 8%, while Short Bitcoin Strategy ETF (BITI.P) jumped 7.4%.
The Financial Accounting Standards Board on Wednesday said companies should use fair-value accounting for measuring bitcoin and other crypto assets, moving a step closer to a standard that could clear up uncertainty over reporting how much such holdings are worth. Companies and accountants want the FASB to adopt fair-value accounting instead, which would allow them to recognize losses and gains immediately and treat digital assets as financial assets. The FASB on Wednesday said fair-value accounting best captures the economics of crypto assets and determined the method would be a requirement rather than an option for companies. PREVIEWCompanies and investors have asked the FASB for years for rules on how to account for and disclose crypto assets. “Without these standards for the accounting and valuation of crypto assets, companies are reluctant to hold them,” she said.
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