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☆ What's next for crypto bill
▼ + stars: | 2024-05-28 | 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 EmailWhat's next for crypto billRep. French Hill (R-Ark. ), chair of the subcommittee on digital assets, joins 'Squawk Box' to discuss what's next as the House passed a bill outlining a crypto regulatory framework last week.

Persons: what's

☆ US home prices hit another record high in March
▼ + stars: | 2024-05-28 | by ( Bryan Mena | ) edition.cnn.com time to read: +3 min

Washington CNN —US home prices reached a record high in March, reflecting the housing market’s persistent affordability crisis. The S&P CoreLogic Case-Shiller US National Home Price Index, a measure of home prices across the country, jumped 6.5% in March from a year earlier to a record high. It is the sixth time the index has reached a new record high over the past year. Persistent challenges, but some slight improvementsHousing affordability, which factors in incomes, home prices and mortgage rates, remains in the doldrums. Annual home price growth is down from a record high of 20.8% in March 2022, but it has picked up steam in the past several months.

Persons: ”, Brian Luke, Dow, “ We’ve Organizations: Washington CNN, Dow Jones, Federal Reserve, Treasury, National Association of Realtors Locations: San Diego , New York, Cleveland, Los Angeles

☆ SEC embrace of ether ETFs highlights cryptocurrency's shifting political fortunes
▼ + stars: | 2024-05-27 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

The newly opened door to ether ETFs is part of a larger story that dominated cryptocurrency markets last week: the industry's political tides appear to be shifting in its favor. Expectations of an approval were low as the week began, but flipped completely and suddenly last Monday — sending ether up 20% . Many are hailing FIT 21 as a landmark victory for the industry. "I'd be surprised if FIT 21 or something like it actually becomes law this year," said Thorn. It does portend a sweeping change in [the] Democratic leadership approach to this industry, and that can only help crypto."

Persons: Biden, Donald Trump, Rachel Lin, Oppenheimer, Owen Lau, Lau, Alex Thorn, didn't, Kirsten Gillibrand, Cynthia Lummis, I'd Organizations: Securities and Exchange Commission, SEC, Representatives, SAB, Innovation, Technology, Futures Trading Commission, CNBC, Galaxy Digital, Senate, Gillibrand, Democratic

☆ Dollar firm ahead of global inflation data
▼ + stars: | 2024-05-27 | by ( ) www.cnbc.com time to read: +4 min

The dollar made a steady start to the week, as investors were focused on U.S., European and Japanese inflation data to guide the global interest rate outlook. The euro , which gained 0.9% on the dollar last week, was in the middle of a range it has held for more than a year at $1.0846. German inflation on Wednesday and euro zone readings on Friday will be watched for confirmation of a European rate cut that traders have priced for next week. The dollar had fallen back after data showed a slowdown in consumer price rises in April and disappointing retail sales, before strengthening last week thanks to better-than-expected PMI survey data. China's yuan finished last week weaker than 7.24 per dollar, its lowest level since early May.

Persons: Sterling, Bob Savage, BNY, China's, Scott Gold, would've, Justin D'Anethan Organizations: New, U.S, Federal, Swiss, Tokyo CPI Locations: Britain, United States, U.S, Asia, New York

☆ I was fired from my accounting job and had to give up my apartment and sleep on my friend's floor. Now, I make $500,000 a year as a YouTuber.
▼ + stars: | 2024-05-24 | by ( Perri Ormont Blumberg | ) www.businessinsider.com time to read: +5 min

I run the YouTube entertainment news channel Funky Dineva, but I started my career as an accountant after graduating in 2005 with an economics degree. I have a creative personality, and I found the routine and confinement of accounting to be painful and unbearable. AdvertisementI had a YouTube channel that I decided to start taking seriouslyI decided that moving forward, I would do what's authentic to me: entertainment. I launched my YouTube channel in December 2010 but didn't start treating it like a job until I was out of accounting. I interviewed members of the cast backstage, and the content was used as digital assets for the brand on its website.

Persons: —, Quentin Latham, I'm, Mona Scott Young, I've Organizations: Service, Business, YouTube, Montgomery Riverfront, Kanye, VH1, Atlanta, College, Google Locations: Miami

☆ U.S. Approves Investment Product Tied to Popular Cryptocurrency Ether
▼ + stars: | 2024-05-23 | by ( David Yaffe-Bellany | More About David Yaffe-Bellany | ) www.nytimes.com time to read: +1 min

Federal regulators on Thursday approved an investment product tied to the cryptocurrency Ether, the most valuable digital asset after Bitcoin, in a major boost for the crypto industry. The Securities and Exchange Commission said a group of exchanges could begin listing investment products known as exchange-traded funds, or E.T.F.s, linked to the price of Ether. approved similar products that track the price of Bitcoin, leading to a flurry of new investment that helped propel Bitcoin’s price to a record high. Before the exchanges can start offering Ether E.T.F.s, the S.E.C. must also approve a separate set of applications from companies that want to issue them, including from major financial firms like BlackRock and Franklin Templeton.

Persons: Franklin Templeton Organizations: Securities, Exchange Commission Locations: BlackRock

☆ A key ether ETF deadline arrives, but SEC's Gensler won't tip his hand on approval or denial
▼ + stars: | 2024-05-23 | by ( Bob Pisani | ) www.cnbc.com time to read: +4 min

Circuit ruled against the SEC's denial of spot bitcoin ETFs, the regulatory agency "pivoted" and approved those funds in January. The bill sets up a regulatory framework for crypto assets. Gensler said crypto assets — and exchanges in particular exchanges — do not meet this test: "This field is not decentralized. He said crypto exchanges are "operating in ways that are conflicted in ways that traditional exchanges [are not]. Gensler says he is not against financial innovation The SEC chairman pushed back against the claim he was against financial innovation.

Persons: Gary Gensler, Eric Pan, Gensler, Joe Biden's, Pan, We'd Organizations: SEC, U.S . Securities, Exchange Commission, Investment Company, ICI Leadership Summit, U.S ., Appeals, Representatives, Innovation, Technology, Century, Futures

☆ Founder and CEO Mike Novogratz: The best way to learn about crypto is to put 'a little money on the line'
▼ + stars: | 2024-05-23 | by ( Emmie Martin | Cfp | ) www.cnbc.com time to read: +1 min

Even some bulls say to start small if you're interested in investing in cryptocurrency. Billionaire Mike Novogratz, founder and CEO of Galaxy Digital, a digital asset and blockchain company, recommended starting with 2% to 5% of your overall portfolio during CNBC's Financial Advisor Summit on Wednesday. If you want to learn about crypto, you should at least "get off zero," Novogratz said, because doing so will get you engaged. "You learn about things by putting a little money on the line. As an industry insider, it makes sense for Novogratz to encourage as many people as possible to learn more about and invest in crypto.

Persons: Mike Novogratz, Novogratz, Brian Vendig Organizations: cryptocurrency, Galaxy Digital, CNBC's, MJP Wealth, CNBC Locations: Westport , Connecticut

The SEC has approved a rule change Thursday that would pave the way for ETFs that buy and hold ether , one of the world's largest cryptocurrencies. The decision comes less than six months after the Securities and Exchange Commission approved bitcoin ETFs. Many of the companies that sponsor bitcoin ETFs — including BlackRock, Bitwise and Galaxy Digital — have also started the process of the launching an ether fund. Specifically, the SEC's order approves applications from various exchanges to list eight different ether funds. Ether ETFs are expected to be smaller, at least initially, than their bitcoin counterparts.

Persons: FactSet, Richard Kerr, Kerr, Ethereum, Steven Lubka, Swan, Lubka Organizations: SEC, Securities and Exchange Commission, Galaxy, Swan Locations: BlackRock, Bitwise, U.S

☆ This startup built AI that's actually licensed to practice law. We got an exclusive look at the pitch deck it used to raise $5 million.
▼ + stars: | 2024-05-22 | by ( Samantha Stokes | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. The startup, Superlegal, just raised $5 million in seed funding in a round led by Israeli VC funds Aleph and Disruptive AI. The startup says it has the only AI licensed to practice law in the US. One such startup, Robin AI, raised a Series B funding round earlier this year for its gen AI-powered contract drafting and review technology. Here's a look at the 14-slide pitch deck Superlegal used to raise its $5 million seed round.

Persons: —, Tom Glover, Westlaw —, Superlegal, Noory, hasn't, AI, Bechor Organizations: Service, Israeli, Alicorn Venture Capital, Thomson Reuters, Business, Utah Locations: Israel

☆ Here are Wednesday's biggest analyst calls: Nvidia, Meta, Tesla, Chipotle, Ferrari & more
▼ + stars: | 2024-05-22 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Here are Wednesday's biggest calls on Wall Street: Morgan Stanley reiterates Tesla as overweight Morgan Stanley said it's sticking with its overweight rating on Tesla but says it's only a matter of time before others automakers begin to take advantage of AI also. Morgan Stanley reiterates Meta as overweight Morgan Stanley said that, as users adopt the company's Reels product it becomes a "monetization opportunity." Morgan Stanley reiterates Dell as a top pick Morgan Stanley said Dell remains a favorite name at the firm. Morgan Stanley reiterates McDonald's as overweight Morgan Stanley said it's standing by the fast-food chain. Morgan Stanley reiterates Ferrari as overweight Morgan Stanley said it's standing by its overweight rating on the automaker.

Persons: Morgan Stanley, Tesla, Piper Sandler, Piper, Meta, Dell, JMP, Oppenheimer, it's, Goldman Sachs, Goldman, Kraft Heinz, McDonald's, Rosenblatt, John Malone, Sportico, Morgan Stanley downgrades, Generac, Jefferies, Needham, Stryker, Ferrari, MSFT Organizations: GM, Ford, Nvidia, Blackwell, ODM, Lenovo, Dell, China Tech Hardware, Costco, " Bank of America, Bank of America, Kraft, Brunswick, UBS, Brunswick Corporation, Atlanta Braves Holdings, Deutsche Bank, Waste Management, Deutsche, Price, Jefferies, Prudential, Lincoln National, Microsoft, Garmin, of America Locations: Coinbase, Shopify

CNBC reached out to the SEC about the recent batch of Wells notices sent to crypto firms, and an agency spokesperson declined to comment. Exchanges, both centralized and decentralized, would be forced to choose between registering with the SEC, or delisting ether altogether. watch nowBoth Consensys and Uniswap suggest the SEC's broad approach to classifying securities may be outdated. "The SEC is arguing that the Uniswap protocol is an unregistered securities exchange, and that the Uniswap interface and wallet are both unregistered broker brokers," Ammori said. Uniswap argues in its response to the SEC that the majority of its trading volume is obvious nonsecurities, like ether, bitcoin and stablecoins.

Persons: Marvin Ammori, “ Ammori, Wells, Consensys, overreach, Joseph Lubin, Lubin, “, —, Christopher Gerold, Laura Brookover, Brookover, ethereum, Bill Hinman, Hinman, Patrick McHenry, Gary, Crypto, haven't, Uniswap, Ammori, there's, Alma Angotti, Guidehouse, Coinbase, We've, Christina Rea, We're, CNBC's Jordan Smith Organizations: Securities and Exchange Commission, Uniswap, SEC, Ethereum Foundation, CNBC, Security, New, New Jersey Bureau of Securities, Consensys, Securities, Exchange Commission's, of Corporation Finance, Rep, Robinhood Locations: U.S, Lubin, New Jersey, ethereum, R

☆ New York AG announces $2 billion settlement with crypto lender Genesis
▼ + stars: | 2024-05-20 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +2 min

New York Attorney General Letitia James is settling with crypto lender Genesis for $2 billion to repay defrauded investors. The lawsuit was broadened in February, alleging that DCG and Genesis defrauded additional investors out of more than $2 billion. Despite a legal challenge brought by parent company DCG, a bankruptcy court approved the lender's Chapter 11 repayment plan, which included the settlement between James' office and Genesis. The settlement bars Genesis from operating in New York. The settlement also established a fund for victims comprising at least 29,000 New York residents who collectively gave more than $1.1 billion to Genesis through its Gemini Earn product.

Persons: Letitia James, James, DCG, Genesis Organizations: New, Digital Currency Group, Gemini Trust, Securities, Exchange Commission Locations: New York

☆ No ‘cop on the beat’: Why the SEC may deny new ether ETFs this month
▼ + stars: | 2024-05-18 | by ( Emily Glass | ) www.cnbc.com time to read: +2 min

The U.S. Securities and Exchange Commission is expected to make a key decision on approving ether exchange-traded funds next week. Edelman, an investor and personal finance author, thinks there needs to be an emphasis on regulations to protect people from crypto scams. We've seen the bitcoin ETFs come to market. We've seen the great things they've done for investors — lowering costs, improving regulation, improving sort of safety, security and peace of mind.," Hougan said. The two ether ETF proposals, submitted by VanEck and ARK Investments/21Shares, are set to be approved or denied this month.

Persons: Ric Edelman, Edelman, CNBC's, Gary, Gensler, Matt Hougan, Bitwise, We've, Hougan, VanEck Organizations: U.S . Securities, Exchange, Digital Assets, Financial Professionals, SEC, ARK Investments

☆ Future of spot ethereum ETFs
▼ + stars: | 2024-05-13 | 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 EmailFuture of spot ethereum ETFsRic Edelman, head of the Digital Asset Council of Financial Professionals and former head of Edelman Financial Engines sits down with CNBC’s Bob Pisani to discuss the next crypto ETF the market is gearing up for and the state of spot bitcoin ETFs.

Persons: Ric Edelman, CNBC’s Bob Pisani Organizations: Digital Asset, Financial Professionals, Edelman

☆ Asia is an 'advanced player' in cryptocurrency, says Ledger CEO
▼ + stars: | 2024-05-10 | 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 EmailAsia is an 'advanced player' in cryptocurrency, says Ledger CEOPascal Gauthier, CEO of the digital asset security and utility company, discusses the Bitcoin Asia conference in Hong Kong and the state of the cryptocurrency industry in the region.

Persons: Pascal Gauthier Organizations: Asia Locations: cryptocurrency, Asia, Hong Kong

☆ FTX customers are getting a rare good deal. Here’s why some are still angry
▼ + stars: | 2024-05-09 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

And yet, for FTX customers, there’s an unavoidable twinge of resentment over what could have been. See here: If you had one bitcoin in an FTX account in mid-November of 2022, it was worth about $17,500. The bankruptcy managers tracked down all of FTX’s crypto and other holdings and hired an investment manager to sell them. The bull run inflated the value of FTX’s significant crypto holdings, leaving the estate with more than enough to pay back customers. Although FTX said it would have as much as $16 billion to disburse, customers and Uncle Sam get paid out first.

Persons: CNN Business ’, bitcoin, it’d, you’d, Tom Brady, John Ray III, Ray, they’ll, FTX, Uncle Sam, Sam Bankman, SBF, he’d, SBF’s, who’s, Fried Organizations: CNN Business, New York CNN —, Sequoia, Prosecutors Locations: New York, FTX, bitcoin, Bankman

☆ Donald Trump spends day off from his hush-money trial attacking Biden's crypto knowledge and pushing mugshot NFTs
▼ + stars: | 2024-05-09 | by ( George Glover | ) www.businessinsider.com time to read: +2 min

Donald Trump spent his day off from court at a supporters' dinner at Mar-a-Lago, Axios reported. The former president hosted fans who'd bought NFTs from his "Mugshot Edition" collection. Footage from the event showed Trump claiming that Joe Biden "has no idea" what crypto is. The mugshot NFTs cost $99 apiece. AdvertisementIn one post on X, the former president is seen saying: "Can we donate to the Trump campaign using crypto?

Persons: Donald Trump, Axios, who'd, Joe Biden, —, Daniels, Joe, Trump, Crypto, Frank Degods, Biden, Gary, Gensler, you'd Organizations: Mar, Trump, Service, Biden, Securities, Exchange, SEC, cryptocurrencies

☆ Why Wall Street is transfixed by a BofA banker's untimely death
▼ + stars: | 2024-05-08 | by ( Reed Alexander | Emmalyse Brownstein | ) www.businessinsider.com time to read: +9 min

The untimely death of a 35-year-old Bank of America associate has sparked a conversation across Wall Street over working conditions. "And to at least just start having those conversations as to how they can make junior bankers work life much better because it's been long overdue. At BofA, 100-plus hour weeks logged by junior bankers aren't unusual, said current and former employees, who questioned whether the firm's system for flagging excessive amounts of work was actually effective. But some junior bankers felt dismayed by an apparent lack of written communication from bank leaders about the incident, this person added. Crushing exhaustion, heightened demandsThe former BofA investment-banking analyst, who was not on Lukenas' team, quit in 2023 after two years.

Persons: Leo Lukenas III, BofA, Lukenas, it's, Goldman Sachs, Lukenas —, —, UMB, Christopher Perkins, Perkins, Les Lukenas, Green, Leo, Reed Alexander, Emmalyse Organizations: Service, of America, Wall, Army, Green Beret, Special Forces, Reuters, New York Office, Business, Bank of America, Investment, Goldman, Heartland Financial, Inc, FIG, Citigroup, Veterans, BI, LinkedIn, Green Berets, Army Special Forces Locations: BofA, London, Wall, ebrownstein@businessinsider.com

☆ Coinbase reports first-quarter revenue beat after bitcoin rally leads surge in profit
▼ + stars: | 2024-05-02 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +3 min

Coinbase reported better-than-expected revenue in its first-quarter earnings report on Thursday. Transaction revenue has historically been a primary driver of revenue, with subscription and services revenue bringing in $511 million for the quarter. The stock tends to benefit from big gains in bitcoin as large rallies in the cryptocurrency lead to increased trading volumes and demand for other services. During the first quarter, bitcoin hit a new all-time high above $73,000 in March, and ethereum, the second-biggest digital asset, underwent its first major upgrade in over a year. "Indeed, trading volumes on Coinbase's platform have come well down from early-March levels."

Persons: Coinbase, bitcoin, Raymond James analysts, Raymond James Organizations: SEC, Coinbase Locations: U.S, bitcoin, Crypto.com

☆ Bitcoin nosedives below $57,000 to two-month low ahead of U.S. Fed decision
▼ + stars: | 2024-05-01 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

The logo of the cryptocurrency Bitcoin (BTC) can be seen on a coin standing in front of a Bitcoin chart. Bitcoin on Wednesday plunged sharply to its lowest level in over two months amid broader risk-off sentiment in markets, as investors kept an eye on the U.S. Federal Reserve's upcoming interest rate decision. Crypto market participants are eyeing the upcoming interest rate decision from the U.S. Federal Reserve. The Federal Open Market Committee is due to meet on Wednesday afternoon to discuss its latest policy on interest rates. Markets have become more shaky lately, as investors fret over the prospect of a longer path toward interest rate cuts.

Persons: Bitcoin, Jerome Powell, Geoff Kendrick, Kendrick, Changpeng Zhao Organizations: U.S, U.S . Federal, U.S . Federal Reserve Locations: U.S ., CoinGecko, solana, U.S, Hong Kong

☆ Bitcoin losses could steepen after the cryptocurrency breaks below $60,000, analysts say
▼ + stars: | 2024-05-01 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

The bitcoin sell-off could get worse before it gets better, according to analysts who look only at price charts. The downtrend intensified on Wednesday when it tumbled under the $60,000 level for the first time since February, as stubborn inflation and uncertainty around Federal Reserve interest rate policy kept markets under pressure. That was a key support level for bitcoin, representing the approximate convergence of the March low and 100-day moving average, according to Ari Wald, an analyst at Oppenheimer. Wolfe Research's Rob Ginsberg said $60,000 bitcoin looks "vulnerable" and that $50,000 could be in play. Bitcoin traded between $60,000 and $74,000 since mid-March, when the cryptocurrency reached new records and has failed multiple times to break out.

Persons: Ari Wald, Oppenheimer, It's, bitcoin, David Keller, Wald, Keller, Geoff Kendrick, Wolfe, Rob Ginsberg, Bitcoin, —, Michael Bloom, Rob Ginsberg's Organizations: CNBC Locations: U.S

☆ Home prices soar even higher in February, despite higher mortgage rates, says S&P Case-Shiller
▼ + stars: | 2024-04-30 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +2 min

Strong demand and tight supply continue to push home values higher, even though mortgage rates are now moving higher again. "For the third consecutive month, all cities reported increases in annual prices, with four currently at all-time highs: San Diego, Los Angeles, Washington, D.C., and New York." The second decline followed the peak in average mortgage rates last October," he added. This index records prices on a three-month moving average, so they go back as far as December, when mortgage rates hit their recent lows. Since that time, however, mortgage rates have jumped nearly a full percentage point.

Persons: Brian Luke, Dow, Luke Organizations: Dow Jones, D.C, Federal Reserve Locations: U.S, Diego , Los Angeles , Washington, New York, San Diego, Chicago, Detroit, Portland , Oregon, Boston , New York, Washington

☆ Crypto ETF trading in Hong Kong will attract different types of investors: ChinaAMC
▼ + stars: | 2024-04-30 | 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 EmailCrypto ETF trading in Hong Kong will attract different types of investors: ChinaAMCThomas Zhu, head of digital assets at ChinaAMC, says the move will allow "different bitcoin miners and long-term bitcoin holders to participate in the ETF market."

Persons: ChinaAMC Thomas Zhu Locations: Hong Kong

☆ Asia's first spot bitcoin and ether ETFs debut in Hong Kong
▼ + stars: | 2024-04-30 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +3 min

Dado Ruvic | ReutersHong Kong on Tuesday launched six spot bitcoin and ether exchange traded funds — becoming the first in Asia to offer retail investors the ability to trade the cryptocurrencies at spot prices. The cryptocurrency ETFs were issued by three Chinese firms — China Asset Management, Bosera Asset Management, and Harvest Global Investments — on the Hong Kong exchange. Spot bitcoin ETFs by ChinaAMC, Bosera HashKey and Harvest were above 3% higher in early trading, but subsequently gave up some gains to trade by about 1.5% higher. The three ether ETFs were trading above 1% in the morning, but fell into negative territory by the late afternoon. The spot crypto ETFs had received regulatory approval under the provision of virtual asset management services, but crypto futures ETFs have been trading on the HKEX since late 2022.

Persons: Dado Ruvic, Bosera, Bitcoin, Antoni Trenchev, Nexo, Trenchev, Han Organizations: Reuters, Tuesday, China Asset Management, Bosera Asset Management, Harvest Global, Hong, Hong Kong's Securities, Futures Commission, ChinaAMC, U.S . Securities, Exchange Commission, CNBC, Stock Exchange of Hong, ., Harvest Global Investments Locations: Reuters Hong Kong, Asia, China, Hong Kong, U.S, Singapore, Dubai, Japan, South Korea, Stock Exchange of Hong Kong

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