DIRS.INFO The most relevant business & tech news

☆ FTX's collapse shows the Fed's tightening is crushing speculative assets like crypto – and don't expect a pivot anytime soon, UBS says
▼ + stars: | 2022-11-15 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

FTX's collapse shows Federal Reserve tightening is crushing speculative assets, UBS said Tuesday. Its aggressive interest rate hikes have injected "vulnerability" into crypto, the bank CIO said. Investors should treat the unregulated crypto space with extreme caution, because jumbo Fed rate hikes could expose further issues in the sector, Haefele said. "The reduction in central bank liquidity has added to the vulnerability of this market." Christopher Waller, Fed governor and voting member, said Sunday the central bank still had "a ways to go" before it'd consider ending its rate hikes.

☆ 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.

☆ Dollar advances ahead of inflation data; cryptos crumble
▼ + stars: | 2022-11-10 | by ( Rae Wee | Rocky Swift | ) www.reuters.com time to read: +3 min

SINGAPORE, Nov 10 (Reuters) - The dollar regained its footing on Thursday ahead of key U.S. inflation data due later in the day, while cryptocurrencies were fragile after a bailout deal for exchange FTX by its bigger rival Binance collapsed. The euro hobbled just above parity at $1.0016, some distance from its near-two-month high hit earlier in the week. Against a basket of currencies, the U.S. dollar index was firm at 110.30, after rising nearly 0.8% overnight. Just a day earlier, crypto giant Binance had signed a nonbinding agreement to buy FTX's non-U.S. unit to help cover a "liquidity crunch". "I do think there's been a bit of contagion from what's been going on in crypto to the broader markets ....

☆ Dollar catches breath while investors await midterms; cryptos skittish
▼ + stars: | 2022-11-09 | by ( Tom Westbrook | ) www.reuters.com time to read: +3 min

The greenback has been under downward pressure from bets on the Federal Reserve easing back on interest rate rises and on China reopening and driving growth. It touched multi-week lows against the euro, Australian dollar and New Zealand dollar overnight, then edged off those levels during the Asia session. Some analysts view likely Congressional gridlock as a slight negative for the dollar if it limits fiscal spending. MORE TO DOLooming on Thursday is U.S. inflation data. The New Zealand dollar wobbled 0.3% lower to $0.5942.

☆ Cryptos attempt to steady as Binance-FTX deal chills market
▼ + stars: | 2022-11-09 | by ( ) www.reuters.com time to read: +2 min

Bitcoin , the biggest cryptocurrency by market value, was down 2% at $18,250, after a 10% plunge on Tuesday that marked its worst day since mid-August. The market focus was, however, on FTT , the token tied to FTX, whose financials have been the source of market angst since last week. Market participants were then stunned when Binance signed a nonbinding agreement on Tuesday to buy FTX's non-U.S. unit to help cover what it called a liquidity crunch. The deal between high-profile rivals Zhao and Sam Bankman-Fried, FTX's CEO, followed week-long speculation about FTX's financial health that snowballed into $6 billion of withdrawals in the 72 hours before Tuesday's deal. "Alameda is a big market maker in the defi market.

☆ Dollar wobbles while investors await midterms; cryptos skittish
▼ + stars: | 2022-11-09 | by ( Tom Westbrook | Anant Chandak | ) www.reuters.com time to read: +2 min

It touched multi-week lows against the euro, Australian dollar and New Zealand dollar overnight, then edged off those levels early in the Asia session. "We all know the dollar will probably turn at some point - when is the big question," said Bank of Singapore currency analyst Moh Siong Sim. Investors expect Republican gains, and some analysts view likely Congressional gridlock as a slight negative for the dollar if it limits fiscal spending. On Thursday, U.S. inflation data is on the horizon. The New Zealand dollar wobbled 0.1% lower to $0.5951.

☆ Bitcoin and other cryptos spiral lower as worries about the fallout from FTX's troubles grow
▼ + stars: | 2022-11-09 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +2 min

Bitcoin and most cryptos extended losses Wednesday as worries built about the FTX fallout. Sol plunged 31% and the crypto market cap dropped 11% on fears the troubles would spread. In a stunning turn of events, FTX CEO Sam-Bankman Fried announced Tuesday that the crypto exchange had agreed to be taken over by rival Binance. The emergency deal sent chills through the crypto world, reviving fears about liquidity risks that could lead to company collapses. The overall value of the crypto market dropped over 11% to $871 billion over the last day, according to CoinMarketCap data.

☆ Dow sinks 600 points amid post-election decline while cryptos extend losses after Binance nixes FTX deal
▼ + stars: | 2022-11-09 | by ( Brian Evans | ) www.businessinsider.com time to read: +2 min

US stocks tumbled Wednesday as Republicans appeared to underperform Wall Street's views for the midterm elections. Cryptos faced more downward pressure as Binance confirmed it will walk away from a deal to take over FTX. Control of Congress remains too close to call, and although Republicans are still favored to take a majority in the House of Representatives, they appeared to underperform Wall Street's expectations. Investors are also looking ahead to Thursday's consumer price index report, which could offer clues on how hawkish the Fed will be. According to JPMorgan, a big miss or beat could move the S&P 500 up or down as much as 6%.

☆ Crypto's self-appointed savior just reached for a lifeline
▼ + stars: | 2022-11-08 | by ( Allison Morrow | ) edition.cnn.com time to read: +5 min

He’s an entrepreneur whose name often appears alongside descriptors like “wunderkind,” “savior,” white knight, “digital Warren Buffett,” etc. Then, in a truly unexpected twist, Binance said it had offered to buy FTX to resolve its liquidity crisis. The news prompted a brief recovery in digital assets but wasn’t enough to calm anxious investors. Other digital assets and equities tied to the industry, such as Coinbase, also fell. There’s a lot to figure out still, but we can expect digital assets to remain volatile until more details about the FTX-Binance deal are made public.

☆ Texas regulators have their eyes on one of the most powerful players in the crypto world
▼ + stars: | 2022-10-20 | by ( Jon Sarlin | ) edition.cnn.com time to read: +7 min

CNN Business —The big news in crypto this week came via a court filing in Texas. FTX, the crypto giant that is led by arguably the most powerful person in the industry, is under investigation by Texas regulators for selling unregistered securities. FDIC, OCC, SEC, DOL, FBI, US Treasury and IRS have all stepped up their crypto enforcement efforts. The crypto lawyer I spoke with told me that those who prefer the CFTC over the SEC fall into two camps. I interviewed Saylor last year for CNN’s crypto interactive (“The Bitcoin Billionaire” is what we dubbed him).

☆ Sell Coinbase as rising competition and macro pressures will hurt the stock, Wells Fargo says
▼ + stars: | 2022-09-29 | by ( Carmen Reinicke | ) www.cnbc.com time to read: +3 min

A challenging economic environment will pressure shares of Coinbase going forward, making now a good time to sell, according to Wells Fargo. Coinbase just updated its fee structure to incentivize higher volume traders, and it's likely that retail fees will follow, according to the note. Wells Fargo forecasts a 56% year over year decline in retail transaction revenue to $451 million for the third quarter. There isn't a clear path that Wells Fargo sees for Coinbase to reach profitability in the coming years, given the backdrop for the company. Coinbase shares dipped 2.4% in the premarket.

☆ How SkyBridge founder Anthony Scaramucci is navigating the world between traditional and digital assets — plus his favorite coins and hedge funds for the tough market environment
▼ + stars: | 2022-09-21 | by ( Laila Maidan | Alyson Velati | ) www.businessinsider.com time to read: +7 min

A survey conducted by the Alternative Investment Management Association (AIMA), showed that about one-third of traditional hedge funds are investing in digital assets. Approximately one-third of the panel discussions revolved around digital assets, according to SkyBridge Capital's Anthony Scaramucci. And while some funds may still be grappling with the question of how much exposure they should allocate to digital assets, Scaramucci is pedaling forward. Long term, he believes in the appreciation of digital assets, and he's willing to pay the price of absorbing the volatility in the meantime. The pivot to digital assetsSkyBridge has pivoted heavily into crypto and blockchain technology from its traditional hedge fund of funds business.

☆ Here's what Ethereum's Merge means for investors who want to generate extra cash flow from crypto staking, according to 2 industry experts
▼ + stars: | 2022-09-21 | by ( Lisa Kailai Han | ) www.businessinsider.com time to read: +7 min

Industry analysts have predicted that this upgrade could triple current Ethereum staking yields. Here's how staking will change in light of Ethereum's Merge — and what that means for returns. There's another reason the Merge was so important, Perfumo told Insider — eventually, it will single-handedly increase the total market cap of staked crypto assets from 25% to 30% to over 50%. Because Ethereum validators also earn gas fees, higher transaction volumes mean a higher yield. But since these exchanges effectively manage custody of a user's assets, Perfumo emphasized the importance in choosing a trusted exchange to minimize counterparty risk.

☆ Sam Bankman-Fried's Alameda will repay $200 million in crypto to bankrupt lender Voyager - after the crash hit dollar values
▼ + stars: | 2022-09-20 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +3 min

Sam Bankman-Fried's Alameda plans to give crypto worth $200 million to Voyager to pay off a loan. The loan was worth $377 million before the crypto slump, which helped push lender Voyager into bankruptcy. Alameda agreed to make the payment in bitcoin, ether and seven smaller cryptos by the end of September. For its part, Voyager will return the tokens Alameda pledged as collateral against the loans, including 4.65 million FTT and 63.75 million SRM tokens. In July, the crypto billionaire offered Voyager $250 million in credit, but the crypto lender turned it down.

☆ Bitcoin falls below $19,000 as cryptos creak under rate hike risk
▼ + stars: | 2022-09-19 | by ( ) www.reuters.com time to read: +2 min

Bitcoin , the biggest cryptocurrency by market value, fell about 5% to a three-month low of $18,387. read moreRepresentations of virtual currency Bitcoin are placed on U.S. Dollar banknotes in this illustration taken May 26, 2020. REUTERS/Dado Ruvic/Illustration/File PhotoThe token's value has fallen amid some speculation that remarks last week from U.S. Securities and Exchange Commission Chairman Gary Gensler implied the new structure could attract extra regulation. "A lot of the hype has come out of the markets since the Merge," he said. Register now for FREE unlimited access to Reuters.com RegisterReporting by Tom Westbrook; Editing by Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

☆ I sold one of my 20 metaverse properties for $30,000. The rest are getting me perks, like citizenship on a real-life island, and will be bringing me passive income.
▼ + stars: | 2022-07-06 | by ( Jenna Gyimesi | ) www.businessinsider.com time to read: +8 min

Angelica Saldaña is a full-time crypto investor who owns more than 20 virtual properties. There are many different virtual worlds and some of the most popular ones are Decentraland and The Sandbox. Someone offered to buy my NFT world for $38,000 last week but the transaction fee would have been $5,000. I'm confident in the future of virtual real estate because it offers something totally unique, beautiful, and helpful. If you own virtual properties and would like to share your story, email Jenna Gyimesi at jgyimesi@insider.com.

☆ Nancy Pelosi's husband just invested millions in 2 tech companies with lots at stake on Capitol Hill
▼ + stars: | 2021-07-12 | by ( Kimberly Leonard | Dave Levinthal | ) www.businessinsider.com time to read: +8 min

The House speaker's husband, Paul Pelosi, made two million-dollar stock trades. Pelosi's husband buys up more stocksHouse Speaker Nancy Pelosi's husband, Paul Pelosi, bought stocks in Google's parent company, Alphabet, and in Nvidia Corporation, which designs graphics-processing units for the gaming market. Drew Hammill, the speaker's spokesman, said she did not own any stock and complied with all disclosures, which require members of Congress to post stock trades for spouses and dependent children. Rep. Pat Fallon, a Republican from Texas, in a group photo with freshman members of the House Republican Conference on the House steps of the US Capitol on January 4. By federal law, members of Congress have 30 days from when they become aware of a stock trade to formally disclose it.

☆ Wisdom from a crypto billionaire, plus a risk-free bitcoin trade that could pay double-digit returns
▼ + stars: | 2021-04-18 | by ( Business Insider | ) www.businessinsider.com time to read: +2 min

Welcome to this weekly roundup of Investing stories from deputy editor Joe Ciolli. Stephen Lam/Getty ImagesHello and welcome to Insider Investing. I'm Joe Ciolli, and I'm here to guide you through what's been happening in markets. Here's what's on the docket:If you aren't yet a subscriber to Insider Investing, you can sign up here. On a recent podcast, he discussed a strategy that secured 10% daily returns on million-dollar trades.

I'm a financial planner, and I always ask new clients the same question: Do you have financial statements? AdvertisementAs a financial planner, there's one question I always ask when meeting with a new client: Do you have financial statements? The first financial statement is a balance sheet, also called the statement of financial position, which lists your assets, liabilities, and net worth. What to include in your income statementNext up we have the income statement, also known as the statement of cash flows. AdvertisementThe bottom lineIn very general and simplistic terms, achieving any level of financial success can be broken down based on these two financial statements.

Persons: —, wouldn't, Charles Weeks Organizations: Service, Netflix, Stockton University

Search resuls for: "cryptos"

19 mentions found