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☆ CNBC Pro Exclusive: Josh Brown shares his "common sense" approach to investing in cryptocurrency
▼ + stars: | 2023-06-16 | 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 EmailCNBC Pro Exclusive: Josh Brown shares his "common sense" approach to investing in cryptocurrencyCNBC's Tanaya Macheel sits down exclusively with Ritholtz Wealth Management CEO Josh Brown 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. Brown discusses why he thinks cryptocurrency could have a market boom similar to artificial intelligence and shares what he says is the smartest way to invest in the sector.

Persons: Josh Brown, Macheel, Brown, cryptocurrency Organizations: cryptocurrency, Ritholtz Wealth Locations: Austin , Texas

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBlackRock files to launch spot bitcoin ETF, and Binance to exit the Netherlands: 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, Gustavo Schwenkler of Santa Clara University's Leavey School of Business discusses BlackRock's proposal for a spot bitcoin ETF.

Persons: explainers, Gustavo Schwenkler, Santa Clara University's Organizations: BlackRock, CNBC Crypto, CNBC, Santa Clara University's Leavey School of Business Locations: Netherlands, Santa Clara

☆ Cryptocurrencies climb to end the week as investors digest BlackRock's bitcoin ETF plans
▼ + stars: | 2023-06-16 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

For the week, bitcoin is on track to end just below the flatline, while ether is heading for a 6% loss. Bitcoin was last higher by 4% at $26,419.53, according to CoinMetrics, while ether advanced 3% to $1,718.06. After the bell Thursday, BlackRock — the largest asset manager in the world — filed for spot bitcoin ETF, with Coinbase as its crypto custodian. It's been about 10 years since the first filing for a potential spot bitcoin ETF. The filing comes about a week after the SEC sued its crypto custody partner, Coinbase, for violating securities laws, leaving many questioning the timing of BlackRock's application.

Persons: bitcoin, litecoin, Bitcoin, Gustavo Schwenkler, It's, Mark Connors Organizations: Solana, U.S . Investors, U.S . Securities, Exchange Commission, BlackRock, Coinbase, Leavey School of Business, Santa Clara University, SEC Locations: U.S

☆ Ritholtz’s Josh Brown talks crypto winter, the failure of blockchains and how to invest in digital assets
▼ + stars: | 2023-06-16 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +4 min

I don't think advisors really have any reason to be compelled to have these conversations with clients and clients aren't asking for it." "[If tomorrow you] woke up and there was no crypto … I don't think your life would change one iota. At the end of 2021, Ritholtz partnered with WisdomTree to launch the RWM WisdomTree Crypto Index to offer exposure to the crypto market through a financial advisor. "I don't think everyone has to, but if you want to, I think holding bitcoin outright is maybe the most common sense approach. "I don't think individual investors should be involved in bitcoin futures," he said, "because there's no passive way to do that.

Persons: Bitcoin, Josh Brown, There's, –, Brown, he's, Ritholtz, WisdomTree, … There's, It's, Gemini's Cameron, Tyler Winklevoss, You've Organizations: Ritholtz Wealth Management, CNBC Pro, Digital Assets, Financial Professionals, Advisors Locations: Austin , Texas, U.S, Brown

☆ Jeffrey Janson with Summit Wealth Partners explains what crypto investors need to know
▼ + stars: | 2023-06-15 | by ( Tanaya Macheel | Kaan Oguz | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJeffrey Janson with Summit Wealth Partners explains what crypto investors need to knowJeffrey Janson, a senior wealth manager with Summit Wealth Partners, sat down with CNBC Crypto World from DACFP VISION 2023, a crypto investing conference for financial advisors in Texas, to explain what people interested in crypto should know before investing in the asaaset class.

Persons: Jeffrey Janson Organizations: Wealth Partners, Summit Wealth Partners, CNBC Locations: Texas

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBitcoin sinks below $25,000, and U.S. withdraws new charges in SBF case for now: 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, Jeffrey Janson, a senior wealth manager with Summit Wealth Partners, explains what people interested in crypto should know before investing in the asset class from DACFP VISION 2023, a crypto investing conference for financial advisors in Austin, Texas.

Persons: explainers, Jeffrey Janson Organizations: CNBC Crypto, CNBC, Summit Wealth Partners Locations: U.S, Austin , Texas

☆ Bitcoin drops below $25,000, Tether's stablecoin falls under its dollar peg
▼ + stars: | 2023-06-15 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +1 min

Standard Chartered predicts that bitcoin could fall to $5,000 in 2023 as part of their research on potential market surprises next year. Cryptocurrency prices fell after the Federal Reserve's June meeting, with bitcoin falling below $25,000 for the first time since March. On Thursday, bitcoin was lower by around 4% at $24,866.92, according to Coin Metrics, while ether fell more than 5% to $1,632.47. And selling pressure weighed on Tether (USDT), which lost its peg to the U.S. dollar on most exchanges Thursday, falling to 99 cents in its biggest drop since November. "Given how thin trading volumes are at the moment, a sizable (but not massive) sell order is enough to set off liquidations."

Persons: bitcoin, Altcoins, Polygon's, Cardano's, Stocks, Michael Safai Organizations: Chartered, Federal, Metrics, U.S, Federal Reserve

☆ Bitcoin and ether stand ground this week while altcoins tumble on the SEC's Coinbase crackdown
▼ + stars: | 2023-06-10 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

Coinbase shares fell more than 17% over the course of the week. The market cap of crypto 'securities' fell CryptoQuant's "SECurities" index fell about 14% following the lawsuit, while the market cap of bitcoin and ether has basically remained flat. JMP noted that in the "securities" the SEC named, bitcoin and ether, which represented 55% of Coinbase's trading volume in the first quarter, were excluded. Coinbase saw outflows of about 20 million of Polygon's matic token Tuesday afternoon, trading at about 73 cents by the end of the week. The popular gaming token Axie Infinity, trading at about $6, saw outflows of about 32,000 coins Monday afternoon.

Persons: Coinbase, Bitcoin, Jefferies, They're, Binance Organizations: SEC, Securities and Exchange Commission, Metrics, U.S, Sports Locations: U.S, Solana, Cardano, Coinbase

☆ Stocks making the biggest moves premarket: Target, Tesla, General Motors, DocuSign and more
▼ + stars: | 2023-06-09 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Check out the companies making headlines in premarket trading. Tesla , General Motors -- Both carmaker stocks were climbing in premarket trading, with gains of 5.7% and 5%, respectively. General Motors announced on Thursday plans to utilize Tesla's electric vehicle charging network, and said its vehicles will also utilize Tesla's North American Charging Standard port in its cars starting in 2025. Nio — Shares of the electric vehicle company dipped 2% in premarket trading after it reported that vehicle sales decreased 0.2% year over year. The company's vehicle margin and net loss also worsened year over year.

Persons: Corning, Morgan Stanley, Wells, Sonoma, —, Macheel, Jesse Pound Organizations: Target Corp, General Motors, Adobe, Citi, Sonoma Pharmaceuticals Locations: Queens, New York, Europe, U.S

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCardano sinks 6%, and Binance.US suspends U.S. dollar deposits and withdrawals: 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, Joshua Frank, the co-founder and CEO of The Tie, breaks down crypto price activity amid the backdrop of the SEC's crackdown on exchanges.

Persons: explainers, Joshua Frank Organizations: Binance.US, CNBC Crypto, CNBC

☆ Stocks making the biggest moves midday: GameStop, Amazon, Carvana and more
▼ + stars: | 2023-06-08 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

GameStop — The meme stock tumbled nearly 18% after the company fired CEO Matthew Furlong and appointed Ryan Cohen as executive chairman, effective immediately. Carvana — Shares popped 56% after the online car seller issued an upbeat outlook for the second quarter. Carvana said it now expects non-GAAP total gross profit per unit to come in above $6,000 in the second quarter. Smartsheet — Smartsheet tanked more than 17.5% after the software company said billings came in at $215.5 million, falling short of a StreetAccount estimate of $217.1 million. Trip.com posted earnings per share of 43 cents, beating a StreetAccount estimate of 26 cents.

Persons: Matthew Furlong, Ryan Cohen, Wells, Carvana, Wolfe, Fisker, Rod Lache, Chris Licht, Jefferies, billings, Lilly Pulitzer, Tommy Bahama, Trip.com, Yun Li, Alex Harring, Sarah Min, Michelle Fox, Tanaya Macheel Organizations: GameStop, Signet, Signet Jewelers, Wolfe Research, Warner Bros, CNN, Wynn Resorts, Sands, Mobile, Adobe —, Adobe, Oxford Industries Locations: Wells Fargo, Las, Macao

☆ Wall Street is split on where Coinbase shares go next as the company's legal fight with the SEC begins
▼ + stars: | 2023-06-07 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +8 min

Analysts are split on how Coinbase shares perform from here as the company enters a battle with the Securities and Exchange Commission. Others see this development as a major threat to Coinbase's business, going beyond near-term financial implications. Additionally, with the complaint coming a day after the SEC sued Binance , Coinbase is likely to see new trading volumes near term, she added. "The SEC lawsuit highlights that Coinbase simultaneously operates as a broker-dealer, an exchange, and a clearing agency/custodian," he added. "We also want to underscore that the COIN business model is doing well right now," he added.

Persons: it's, Coinbase's, cryptocurrencies, Cathie Wood, Raymond James, Patrick O'Shaughnessy, SVB MoffettNathanson, Lisa Ellis, Ellis, Binance, Coinbase, Gary Gensler, Canaccord, Raymond James –, Jefferies, Trevor Williams, SEC …, Devin Ryan, Joseph Vafi, Jason Kupferberg, Michael Bloom Organizations: Securities and Exchange, SEC, CNBC, Securities, Coinbase, Bank of America Locations: U.S

☆ 'Crypto is not going away', says Digital Chamber's Perianne Boring on SEC lawsuit against Binance
▼ + stars: | 2023-06-06 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'Crypto is not going away', says Digital Chamber's Perianne Boring on SEC lawsuit against BinancePerianne Boring, Digital Chamber founder and CEO, joins CNBC's Tanaya Macheel and 'Last Call' to discuss the SEC's lawsuit against Binance and the possible future of crypto regulation.

Persons: Binance Perianne Organizations: SEC, Digital Chamber, Binance

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBitcoin whipsaws after SEC sues Coinbase and Binance in two-day span: 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, Cory Klippsten, the CEO of Swan Bitcoin, discusses the impact of the SEC's continued crackdown on crypto exchanges.

Persons: Coinbase, explainers, Cory Klippsten, Swan Bitcoin Organizations: SEC, CNBC Crypto, CNBC

☆ Why cryptocurrencies are climbing after the SEC sued the largest U.S. crypto exchange
▼ + stars: | 2023-06-06 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +4 min

It's only Tuesday, but the Securities and Exchange Commission has already brought legal action against two of the biggest platforms in crypto – and to the surprise of some, crypto prices are climbing. What began as a muted reaction Tuesday to the SEC's lawsuit against Coinbase , the largest U.S. crypto exchange and first publicly listed crypto company, turned into a positive one. At one point in the afternoon, bitcoin and ether had nearly recovered their losses from the previous day's crypto market sell-off, sparked by the SEC's lawsuit against Binance, the largest crypto exchange in the world. Investors are also now anticipating another Fed rate hike, which has typically weighed on crypto prices. "Crypto prices are up 60% or more YTD, the crypto winter is over," he added.

Persons: It's, Coinbase, Matt Hougan, Hougan, that's, bitcoin, Ric Edelman, Gary Gensler, We're, Edelman Organizations: Securities and Exchange Commission, Coinbase, Investors, Binance, SEC, CNBC, Digital Assets, Financial Professionals, Republican Locations: U.S, Coinbase

☆ Bitcoin rises after SEC sues Coinbase alleging it acted as an unregistered broker
▼ + stars: | 2023-06-06 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

Cryptocurrency prices were slightly higher Tuesday after the Securities and Exchange Commission sued crypto services provider Coinbase. On Tuesday, the SEC filed a lawsuit in New York federal court alleging that Coinbase has been acting as an unregistered broker and exchange. The news came one day after the SEC alleged that Binance, the largest crypto exchange in the world by volume, and its co-founder, Changpeng Zhao, violated securities laws. Since January, the SEC has charged Kraken, Genesis and Gemini Trust with offering unregistered securities to investors. It also issued a Wells Notice to Coinbase earlier this year warning the company of potential securities charges.

Persons: Bitcoin, Ether, Coinbase, Gary Gensler, Polygon's, Binance, Changpeng Zhao, Matt Hougan Organizations: Securities and Exchange Commission, Coinbase, Metrics, SEC, Solana, . U.S, Gemini Trust, Bitwise Asset Management, CNBC Locations: New York, .

☆ Stocks making the biggest moves midday: Palo Alto Networks, 3M, Amedisys, Target and more
▼ + stars: | 2023-06-05 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +4 min

A view of the exterior of the new Dutch head office of international technology company 3M in Delft, Netherlands, November 5, 2014. EPAM Systems — Shares of the software engineering firm tumbled 18% after it cut guidance amid further deterioration in near-term demand. Amedisys — The health care company's shares rallied 14% after it received an unsolicited buyout offer from Optum, a unit of UnitedHealth , to acquire Amedisys for $100 a share in cash. ImmunoGen — The biotechnology company's shares gained 5% after it announced results from ovarian cancer treatment Elahere showing a roughly 35% reduction in the risk of disease progression or death compared to chemotherapy. Dollar General — Shares fell 2.7% after Morgan Stanley downgraded the discount retailer's stock to equal weight from overweight Sunday.

Persons: Dow, Coinbase, Binance, Changpeng Zhao commingled, Robinson, Ford's David Bozeman, Morgan Stanley, KeyBanc, —, Yun Li, Alex Harring, Jesse Pound, Samantha Subin, Brian Evans Organizations: Palo Alto Networks, Dow Jones, Dish Network, 3M, Bloomberg, U.S . Securities, Exchange Commission, Care, Ford, Equitrans Midstream Corporation, Ford Motor Co, Citi, Spotify, Target, Apple —, Developers Conference, Apple Locations: Delft, Netherlands, Optum, Bozeman, U.S, Cupertino , California

☆ Bitcoin drops below $26,000 after SEC sues crypto exchange Binance
▼ + stars: | 2023-06-05 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

Cryptocurrency prices dropped Monday after the U.S. Securities and Exchange Commission charged Binance, the largest crypto exchange in the world, with violating securities laws. Binance Coin , a token used to pay transaction and trading fees on the Binance exchange, tumbled 9.5%. The declines came after the SEC alleged Binance and its co-founder, Changpeng Zhao, comingled billions of dollars of investor funds with their own and violated securities laws. "Any regulatory action against a major player in the cryptocurrency space creates uncertainty and leads to increased market volatility in the short term. Bitcoin last week capped its worst month of trading since November, finishing May down 7.9% after trading in a narrow range of between $26,000 and $28,000.

Persons: Bitcoin, Binance, Changpeng Zhao, Sam Callahan, Swan Bitcoin Organizations: U.S . Securities, Exchange Commission, Metrics, SEC, Binance, Futures Trading, CNBC, Gemini Trust Locations: bitcoin

☆ Stock futures are little changed after the S&P 500’s best week since March
▼ + stars: | 2023-06-04 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

U.S. equity futures were little changed Sunday evening after a broad-based rally last week that pushed the S&P 500 to its best week since March, and its highest level since last August. S&P 500 futures were higher by 0.09% and Nasdaq-100 futures hovered below the flat line. On Friday, stocks rallied to end the week following strong jobs data for the month of May. The Dow jumped 701.19 points, or 2.12%, for its best day since January, ending the week at 33,762.76. "Recent banking sector developments are also encouraging, and repeated signs of labor market strength are reducing the risk negative outcomes.

Persons: Dow, Joe Biden, Dow Jones, Mace McCain, Yung, Yu Ma, Smucker, Campbell Soup Organizations: Dow Jones, Nasdaq, U.S ., Labor Department . Public, Frost Investment Advisors, BMO, CNBC, Investors, Natural Foods, Signet Jewelers, PMI, Institute for Supply Management, Global, Mortgage, Association

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBitcoin crosses $27,000, and lawsuit accuses Elon Musk of manipulating DOGE's price: 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, Bobby Zagotta of Bitstamp USA discusses what's next for bitcoin after a sell-off in May.

Persons: Elon, explainers, Bobby Zagotta, what's Organizations: CNBC Crypto, CNBC, Bitstamp USA, bitcoin

☆ Unemployment dropped among Hispanic men and women in May but rose for Black workers
▼ + stars: | 2023-06-02 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +1 min

The U.S. unemployment rate rose in May, but declined for Hispanic workers, according to the latest nonfarm payrolls report. The overall unemployment rate last month was 3.7%, a gain of 0.3 percentage point from the prior month. The unemployment rate for Hispanic men ticked lower to 4% from 4.1% in April. Meanwhile, unemployment for Black workers overall rose 0.9 percentage point to 5.6% in May from 4.7% in April. The unemployment rate also ticked higher for Black women, rising to 5.3% in May from April's rate of 4.4%.

Persons: Carmen Sanchez Cumming, it's Organizations: Labor Department, Washington Center for Equitable Growth

☆ Stocks making the biggest moves premarket: SentinelOne, Lululemon, Dupont and more
▼ + stars: | 2023-06-02 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

SentinelOne — Shares fell more than 35% in premarket trading after cybersecurity company missed revenue expectations for the first quarter and cut its full-year revenue guidance. The company reported first-quarter revenue of $133.4 million, below the consensus estimate of $136.6 million from FactSet. It sees just $141 million in revenue for the second quarter, well below the $152.1 million consensus estimate from FactSet. ChargePoint said revenue would be between $148 million and $158 million this quarter, below the consensus estimate of $165.6 million from FactSet. Asana's revenue last period was $152.4 million,compared to the analyst consensus of $150.5 million from FactSet.

Persons: MongoDB, Lululemon, Dupont De, Corteva, Morgan Stanley, ChargePoint, PagerDuty, CNBC's Hakyung Kim, Jesse Pound, Yun Li Organizations: Dupont De Nemours —, Chemours, U.S . Water Systems, Bloomberg Locations: Canadian, U.S, China, FactSet

☆ Bitcoin posted its worst month since November, but network activity saw record highs
▼ + stars: | 2023-06-02 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

Even though bitcoin just ended its first down month of the year, the network activity hit new record highs — and that's a good thing for Bitcoin and its investors. However, Bitcoin's average daily network hashrate – which measures how much computing power the network uses to process transactions and is a key indicator of the network's health – increased for the fifth consecutive month. Investors want the hashrate to be larger; the more energy devoted to securing the network, the broader and more decentralized the network becomes. At the same time, Bitcoin's mining difficulty increased by about 2% for the month and reached an all-time high. Transaction fees on Bitcoin also surged in May with the help of Ordinals , digital content on Bitcoin similar to nonfungible tokens, or NFTs, with some technical differences.

Persons: bitcoin, Bitcoin, Reginald Smith, Bitcoin's, Smith, Michael Bloom Organizations: Investors, JPMorgan Locations: U.S

Macy's also slashed its full-year earnings and sales guidance, after "demand trends weakened" for discretionary items in March. Dollar General — Shares tumbled 9% after the company reported an earnings and revenue miss for the first quarter. The lingerie retailer reduced its full-year revenue guidance in the low-single digits range from the prior mid-single digit range estimates. Veeva also raised its full-year earnings per share guidance by 26 cents. The company's full-year revenue guidance also topped analysts' estimates.

Persons: Nordstrom, Nordstrom's, Salesforce, Okta, Okta's, Macy's, CrowdStrike's, Refinitiv, Veeva, Macheel, Samantha Subin, Jesse Pound, Michelle Fox Organizations: BMO Capital, Saudi Arabia's Public Investment Fund, Chewy, —, JPMorgan, CSX, UBS, Systems Locations: New York City, Canada

☆ Stocks making the biggest moves midday: Dollar General, Salesforce, C3.ai, Chewy and more
▼ + stars: | 2023-06-01 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

Dollar General — Shares sank nearly 20% after the company reported an earnings and revenue miss for the first quarter. Its second-quarter revenue guidance also beat expectations, per StreetAccount. The company also reduced its full-year revenue guidance in the low single-digits range from the prior midsingle-digit range estimates. The drop in shares came as cost concerns and dwindling demand for consulting deals overshadowed better-than-expected results and an improved full-year earnings outlook. The company also raised its full-year earnings per share guidance.

Persons: Chewy, Hormel, Wednesday's, CrowdStrike, Salesforce, Okta, JPMorgan Chase, Veeva, Samantha Subin, Yun Li, Alex Harring, Tanaya Macheel Organizations: StreetAccount, Revenue, Refinitiv, JPMorgan, Veeva Systems, Saudi Arabia's Public Investment Fund, Barclays Locations: Vallejo , California

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