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☆ Bitcoin ETF rush: Fidelity joins BlackRock and others in filing for spot ETFs funds
▼ + stars: | 2023-06-30 | by ( Tanaya Macheel | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBitcoin ETF rush: Fidelity joins BlackRock and others in filing for spot ETFs fundsHosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC. CNBC's Tanaya Macheel joins the show to discuss the rush for spot bitcoin ETFs.

Persons: Brian Sullivan, “, CNBC's, Macheel Organizations: Fidelity, CNBC Locations: BlackRock

☆ Stocks making the biggest moves midday: Apple, Meta Platforms, Carnival, Nike and more
▼ + stars: | 2023-06-30 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

In this photo illustration, the 2023 Apple Worldwide Developers Conference (WWDC 23) logo is displayed on a smartphone screen. Check out the companies making headlines in midday trading Friday. Citi also slapped a $240 price target on the stock, the highest on the Street. SolarEdge — The solar stock rose 3.3% after Bank of America raised its price target to $396 from $379. Bright Health Group — Shares added 2.6% in midday trading after the health insurer announced a deal to sell its California Medicare Advantage business to Molina Healthcare for roughly $600 million.

Persons: Goldman Sachs, Xpeng, —, Alex Harring, Tanaya Macheel, Sarah Min Organizations: Developers, Apple —, Citi, Journal, SEC, BlackRock, Pacific Biosciences, Bank of America, Bright Health, Molina Healthcare, Nike —, Nike, Markets Authority, Jefferies Locations: Thursday's, California

☆ Stock futures are little changed as investors await key inflation data: Live updates
▼ + stars: | 2023-06-29 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +1 min

U.S. equity futures were little changed on Thursday evening as investors awaited the latest data on personal consumption expenditures, the Federal Reserve's favored inflation gauge. S&P 500 futures ticked lower by 0.03%, and Nasdaq 100 futures were just above the flat line. For June: The S&P 500 has gained 5.18% and is on pace for its best monthly performance since January. For the second quarter: The S&P 500 has risen 6.99% and is tracking for a third straight quarter of gains. For year to date and the first half: The S&P 500 has popped 14.51%, and it's heading for its best first half since 2018.

Persons: Dow, it's Organizations: New York Stock Exchange, Federal, Dow Jones, Nasdaq, Dow

☆ Crypto is trying to fix its custody problem as institutions pour in and regulatory uncertainty lingers
▼ + stars: | 2023-06-29 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +8 min

And the highly regulated institutions wanting to give their clients access to bitcoin are still a little skeptical that the crypto industry has learned its lessons. Another issue is there aren't enough dedicated custodians in the crypto industry. The Go Network acts as a platform on which partner firms can execute and settle trades between crypto assets and fiat currencies. BitGo handles custody of crypto assets while dollars are spread across a network of banks for safekeeping. "[The crypto industry] was operating on the edge, saying, it's risky, but we're making a lot of money.

Persons: Crypto, Bitcoin, Roger Bayston, Franklin Templeton's, FTX, Schwab, Gustavo Schwenkler, It's, David Wells, haven't, it's, BitGo, Mike Belshe, CNBC's, Wells, Belshe, BlackRock's Joseph Chalom, Franklin Templeton's Bayston Organizations: Crypto, New York City, Arrows, Terraform, Securities and Exchange, Fidelity, Citadel, EDX, Valley Bank, First, Leavey School of Business, Santa Clara University, Nasdaq, Bank of New York Mellon, CNBC, Go, Markets, Schwab, BlackRock, Securities, Exchange, Coinbase Locations: Coinbase State, New York, First Republic, PacWest, Wells

☆ Stocks making the biggest premarket moves: Joby, Micron, Wells Fargo, Freyr Battery and more
▼ + stars: | 2023-06-29 | by ( Michelle Fox | ) www.cnbc.com time to read: +2 min

Check out the companies making the biggest moves in premarket trading. Joby Aviation — Joby shares gained another 17% premarket. The aviation company announced a $100 million equity investment from South Korea's SK Telecom, expanding an existing partnership. Wells Fargo , JPMorgan Chase , Bank of America — The banks moved higher after passing the Federal Reserve's annual stress test Wednesday. Wells Fargo and Bank of America gained nearly 2%, while JPMorgan rose 1.6%.

Persons: Wells, Charles Schwab —, Morgan Stanley, Adam Jonas, Berkshire Hathaway, Overstock, Richard, —, Macheel, Jesse Pound, Sarah Min, Michael Bloom, Brian Evans Organizations: Aviation, New York Stock Exchange, Joby, South Korea's SK Telecom, Micron Technology, Micron, JPMorgan Chase, Bank of America, Federal, JPMorgan, Citizens, Providence, Occidental Petroleum —, Petroleum, Berkshire, Warren Buffett, Virgin Galactic —, Virgin Galactic Locations: New York, South, Wells Fargo, Providence , Rhode Island, Wednesday's, Virgin

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSBF loses bid to toss criminal charges, and Mastercard introduces token network: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Raj Dhamodharan, Mastercard's head of crypto and blockchain, explains the company's new Multi-Token Network and what the firm is trying to achieve by launching products and solutions focused on blockchain technology.

Persons: SBF, explainers, Raj Dhamodharan Organizations: Mastercard, CNBC Crypto, CNBC, Network

☆ What the potential U.S. ban of A.I. chips to China could mean for Nvidia
▼ + stars: | 2023-06-28 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

Shares of Nvidia were under pressure as investors weighed the effect of potential new restrictions on exports of artificial intelligence chips to China, but Wall Street is still upbeat on the stock. Several analysts are projecting China could be between 10% and 15% of Nvidia's data center revenue this year. Evercore ISI maintained its outperform rating on the stock and called the news "a little speed bump on the AI highway." In the near term, Nvidia should be able to ship the current backlog, Prisco said in the Tuesday note. NVDA YTD mountain Nvidia year-to-date Citi analysts also said they believe AI demand will exceed supply this year and that Nvidia "can move its chips around."

Persons: Biden, Goldman Sachs, Toshiya Hari, Evercore, Matthew Prisco, Prisco, CNBC's Michael Bloom Organizations: Nvidia, Wall Street Journal, Bank of America, ISI, Citi, " Bank of America Locations: China, Hong Kong, NVDA

☆ BitGo CEO Mike Belshe discusses the launch of the Go Network
▼ + stars: | 2023-06-27 | by ( Tanaya Macheel | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBitGo CEO Mike Belshe discusses the launch of the Go NetworkBitGo CEO Mike Belshe spoke exclusively with Crypto World about the launch of the firm's Go Network and the problem with crypto market structure to date.

Persons: Mike Belshe Organizations: Go Network, Crypto, Go

☆ Bitcoin rallies 17% this week as institutional interest in the asset picks up
▼ + stars: | 2023-06-24 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

For many crypto investors, this week felt like the beginning of a new era – and ironically, it was driven by the old guard of financial institutions. Bitcoin ended the week up 17.1% at $30,864.67, according to Coin Metrics, for its best week since March 17. At one point on Friday, bitcoin rose to as much as $31,412.72 , its highest level since June 8, 2022. BlackRock filed an application for its spot bitcoin ETF June 15, spurring a flurry of fund filings from other asset managers. In the past two weeks, bitcoin's trading volume has increased 0.5% on a week-over-week basis, according to JPMorgan.

Persons: Bitcoin, bitcoin, Polygon, Yuya Hasegawa, Invesco, Charles Schwab, CNBC's, it's, Owen Lau, Oppenheimer, Lau, Hasegawa Organizations: Solana, Securities and Exchange Commission, Nasdaq, SEC, BlackRock, Fidelity Digital Assets, Citadel Securities, JPMorgan Locations: Cardano

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBitcoin crosses $31,000, and Supreme Court rules in favor of Coinbase in dispute: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Michael Casey, CoinDesk's chief content officer, breaks down the findings of an 83-page report outlining the most pressing challenges in crypto.

Persons: explainers, Michael Casey Organizations: CNBC Crypto, CNBC

☆ Bitcoin briefly rises above $31,000 to highest level in more than a year to cap the week
▼ + stars: | 2023-06-23 | by ( Tanaya Macheel | ) www.cnbc.com time to read: 1 min

Bitcoin broke above $31,000 Friday, building on recent gains fueled by institutions' commitment to layering crypto into their businesses. At one point, it hit a peak of $31,412.72, its highest level since June 8, 2022. "The long-term conviction of these financial behemoths — which include some of the most trusted names in asset management and retail investing — boosted sentiment and investor confidence when both were relatively low," said Ryan Rasmussen, analyst at Bitwise Asset Management. "It's a sign that the days are numbered for bad actors like Binance and FTX and that the crypto ecosystem is maturing. That's a powerful catalyst for the industry, which has been plagued at various times by fraudsters and detractors."

Persons: Bitcoin, Ryan Rasmussen, fraudsters Organizations: Metrics, Bitwise Asset Management

☆ Investor Ron Baron says the Dow will reach 900,000 over the next 50 years because of faster growth
▼ + stars: | 2023-06-23 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

The Dow Jones Industrial Average could rise as high as 900,000 over the next 50 years, according to longtime investor Ron Baron. "That means that you have 35 times your money over the next 50 years, which means that the Dow Jones, which is now 34,000, will be 900,000." Yet since 1970, the Dow Jones Industrial Average has returned 10% annually, climbing the wall of worry from around the 800 level then to nearly 34,000 today. .DJI ALL mountain Dow Jones Industrial average long term The blue chip stock index closed at 33,946.71 on Thursday. Baron also highlighted that on top of the stock market performance, U.S. GDP has risen 33 times in the same period.

Persons: Ron Baron, Baron, CNBC's, Dow Jones, there's Organizations: Dow Jones, Baron Capital, SpaceX, Dow

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRegulation in focus at Coinbase crypto summit, and Fed's Powell talks stablecoins: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Martin Leinweber, digital asset product strategist at Market Vector Indexes, discusses what he believes is moving markets amid the backdrop of the SEC's crackdown on crypto exchanges and regulatory developments overseas.

Persons: Fed's Powell, stablecoins, explainers, Martin Leinweber Organizations: CNBC Crypto, CNBC

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBitcoin pops above $30,000 as WisdomTree and Invesco join the bitcoin ETF rush: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Zac Townsend of Meanwhile, a life insurer that operates solely in cryptocurrency, weighs in on financial institutions moving forward with crypto projects despite the SEC's recent crackdown on exchanges.

Persons: Invesco, explainers, Zac Townsend Organizations: CNBC Crypto, CNBC Locations: cryptocurrency

☆ Bernstein sees a $5 trillion opportunity in blockchains for financial markets
▼ + stars: | 2023-06-21 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

If financial incumbents want to be part of the modernization of financial markets, they need to adopt blockchains, according to Bernstein. Beyond tradeable assets like bitcoin, however, there's an opportunity over the next five years for financial firms in tokenizing real-world assets on blockchains, the firm said in a note this week. "Tokenization, we believe, will transform financial markets over the next decade," analyst Gautam Chhugani said in the Tuesday note. "We forecast ~$5 trillion of real-world financial assets will be tokenized on blockchains over the next 5 years." There is also a big opportunity for new business verticals in custody, trading, trade finance and enterprise consulting, Chhugani said.

Persons: Bernstein, Cryptocurrencies, there's, Gautam Chhugani, Chhugani, Hamilton Lane, Franklin Templeton, Michael Bloom Organizations: Investment, KKR, Securitize, JPMorgan Locations: tokenizing, stablecoins

☆ Ric Edelman on the future of bitcoin amid two new SEC lawsuits against crypto platforms
▼ + stars: | 2023-06-20 | by ( Alison Conklin | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRic Edelman on the future of bitcoin amid two new SEC lawsuits against crypto platformsCNBC's Tanaya Macheel sits down with the Chairman of the Digital Assets Council of Financial Professionals VISION 2023 conference taking place this week in Austin, Texas. VISION is the longest-running cryptocurrency investment conference for financial professionals and investors in the industry. Edelman discusses the future of bitcoin and other digital assets amid new SEC lawsuits against crypto platforms Coinbase and Binance.

Persons: Ric Edelman, Macheel, Edelman Organizations: SEC, Digital Assets, Financial Professionals Locations: Austin , Texas

☆ Stock futures are little changed Tuesday night as market rally falters: Live updates
▼ + stars: | 2023-06-20 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

U.S. stock futures were near flat on Tuesday evening as investors took a breather from last week's market rally. S&P 500 futures inched down by 0.06% and Nasdaq 100 futures lost 0.03%. The S&P 500 slid 0.47%, and the Nasdaq Composite lost 0.16%. Stocks are overbought and in need of a catalyst, according to Quincy Krosby, chief global strategist for LPL Financial. Indeed, last week the S&P 500 hit its highest level since April 2022 and posted its fifth consecutive positive week.

Persons: Quincy Krosby, Jerome Powell, Powell, Krosby, Winnebago Organizations: New York Stock Exchange, Dow Jones, Nasdaq, FedEx, Dow, LPL, U.S, Home, Financial Locations: New York City . U.S, Quincy

☆ Bitcoin hits new high for June as more financial incumbents signal commitment to crypto
▼ + stars: | 2023-06-20 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

The application came a week after the Securities and Exchange Commission sued two of the biggest crypto exchanges, Binance and Coinbase. The price of bitcoin climbed on Monday as financial institutions continued to give their bitcoin blessing. Then Tuesday morning, a new crypto exchange backed by financial giants Charles Schwab, Fidelity Digital Assets and Citadel Securities announced that it has been live for several weeks trading bitcoin and ether. Many financial incumbents are keen to show enthusiasm for blockchain technology and the ways it can advance old financial infrastructure. Bitcoin has struggled to break out of a narrow trading range this quarter but has yet to fall meaningfully under $25,000.

Persons: Bitcoin, bitcoin, Charles Schwab Organizations: Mobile, BlackRock, U.S, Securities and Exchange Commission, Metrics, Fidelity Digital Assets, Citadel Securities, Fidelity Locations: Barcelona, Spain

☆ A 'truly diversified' portfolio should include bitcoin and ether, Ric Edelman says
▼ + stars: | 2023-06-20 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +1 min

Investors and advisors can't ignore crypto anymore, according to Ric Edelman, founder of Edelman Financial Engines. "It's the first new invention of an asset class in 170 years — the last new asset class was the discovery of oil in the 1850s," he told CNBC Pro at the Digital Assets Council of Financial Professionals' Vision conference in Austin, Texas. "We need to recognize that in order to have a truly diversified portfolio, we need to have exposure to every asset class," he added. "That means advisors need to rethink their notion of portfolio diversification and acknowledge that crypto — like it or not, understand it or not — belongs in a diversified portfolio on a long-term basis." Edelman said to stick to bitcoin and ether — "the Pepsi and Coke of crypto for most folks" — and that you "don't need a lot of it," recommending a low, single-digit allocation as a percentage of a portfolio.

Persons: Ric Edelman, Edelman, DACFP Organizations: Edelman, CNBC Pro, Digital Assets, Financial Professionals, Pepsi, Coke Locations: Austin , Texas

☆ EDX crypto exchange goes live offering bitcoin and ether trading, backed by Schwab and Fidelity
▼ + stars: | 2023-06-20 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

A crypto exchange backed by financial giants Charles Schwab , Fidelity Digital Assets and Citadel Securities has officially launched trading in four crypto assets, the company said Tuesday. EDX Markets first announced its launch plans for a "non-custodial" exchange in September, about two months before the collapse of FTX. The EDX exchange allows trading of bitcoin , ether , litecoin and bitcoin cash – none of which were named "crypto asset securities" in the lawsuits the Securities and Exchange Commission brought against Binance and Coinbase two weeks ago. EDX also has plans to launch a clearinghouse business this year to facilitate the settlement process but will still keep customer assets held at third-party banks and a crypto custodian. The company is set to announce Tuesday that it has closed a second funding round with new investors, including the options-exchange operator Miami International Holdings and affiliates of proprietary trading firms DV Trading, GTS, GSR and Hudson River Trading.

Persons: Charles Schwab, Binance, EDX Organizations: Fidelity Digital Assets, Citadel Securities, EDX, Sequoia Capital, Virtu, BlackRock, Securities and Exchange Commission, Miami International Holdings Locations: U.S, Hudson

☆ Blockchains are ‘basic utilities’ for the digital economy, says Franklin Templeton crypto head
▼ + stars: | 2023-06-19 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

Think of investing in crypto as investing in technology for the data economy. Crypto is unchartered territory for most, but the 76-year-old asset manager has dived deep into research in recent years believing digital assets will transform asset management, capital markets and the increasingly digital, data-driven world at large. "You don't expect it to end just at just Bitcoin and Ethereum , and we expect over the next several years, several things that continue to unfold and find application," Roger Bayston, Franklin Templeton's head of digital assets, told CNBC Pro at the Digital Assets Council of Financial Professionals' VISION conference in Austin, Texas. Since 2019, the firm has operated node validators on various blockchains – including Ethereum, Solana , Cardano and Polkadot . Bayston said investors who have the stomach for high volatility and uncertainty could be rewarded in the future.

Persons: Franklin Templeton, Crypto, Roger Bayston, Franklin Templeton's, Bayston, It's Organizations: CNBC Pro, Digital Assets, Financial Professionals, Government Money Market Locations: Austin , Texas, Ethereum, Solana, Cardano, U.S

☆ Roger Bayston on using blockchain technology to find investment opportunities
▼ + stars: | 2023-06-19 | by ( Joshua Natoli | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRoger Bayston on using blockchain technology to find investment opportunitiesCNBC's Tanaya Macheel sits down with Franklin Templeton Head of Digital Assets Roger Bayston at the VISION 2023 conference taking place this week in Austin, Texas. VISION is the longest-running cryptocurrency investment conference for financial professionals and investors in the industry. Bayston discusses investment opportunities using blockchain technology and finding new applications for Bitcoin and Ethereum.

Persons: Roger Bayston, CNBC's, Macheel, Franklin Templeton, Digital Assets Roger Bayston, Bayston Organizations: Franklin Templeton Head, Digital Assets Locations: Austin , Texas

☆ Blockchain technology could play a 'pivotal' role in the A.I. revolution, says Global X ETFs' Helfstein
▼ + stars: | 2023-06-18 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +1 min

There's an automation revolution taking place and blockchain technology could play a pivotal role in it, according to Scott Helfstein. "As we think about … this broader transition towards automation and digitalization, blockchain can really play an important role in securing information and facilitating data management," he said. Helfstein broke AI into various levels, from infrastructure providers like semiconductor companies and graphic chip makers to algorithm providers like OpenAI and its ChatGPT. Across all of it though is blockchain technology and a way to secure information fed into AI algorithms. Crypto is "interesting," he said, but corporate investment is pouring into automation and blockchain will play a "critical" role in its development.

Persons: Scott Helfstein, blockchain, Ethereum Organizations: CNBC Pro, Digital Assets, Financial Professionals Locations: Austin , Texas, U.S

☆ Scott Helfstein on staying diversified when investing in crypto
▼ + stars: | 2023-06-18 | by ( Joshua Natoli | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailScott Helfstein on staying diversified when investing in cryptoCNBC's Tanaya Macheel sits down with Morgan Stanley Head of Market Strategy Scott Helfstein at the VISION 2023 conference taking place this week in Austin, Texas. VISION is the longest-running cryptocurrency investment conference for financial professionals and investors in the industry. Helfstein discusses blockchain technology and artificial intelligence, as well as how to keep a broad portfolio when investing in cryptocurrency.

Persons: Scott Helfstein, Macheel, Morgan Stanley, Helfstein Locations: Austin , Texas, cryptocurrency

☆ Bitcoin gets a sliver of optimism to cap an otherwise dismal week for crypto
▼ + stars: | 2023-06-17 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +4 min

Coin Metrics measures a week in crypto, which trades 24 hours a day, from the 4:00 p.m. A moment of relief Bitcoin climbed about 4% Friday, but the rest of the week wasn't as sunny. Price action was tepid to start the week and on Wednesday bitcoin briefly fell to a March low. … It's a doubting Thomas market for the next buyer of bitcoin right now. Miner profitability Bitcoin's recent declines may not be entirely on macro and regulatory headwinds, said Yuya Hasegawa, crypto market analyst at Japanese bitcoin exchange Bitbank.

Persons: Bitcoin, Price, Gustavo Schwenkler, it's, bitcoin, Mark Connors, we've, Thomas, Jay Powell, Connors, Yuya Hasegawa, Hasegawa Organizations: BlackRock, SEC, Leavey School of Business, Santa Clara University, Federal, Coinbase

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