Kansas City Fed President Jeffrey Schmid has indicated that he isn’t in support of further Fed rate cuts due to rising inflation. Schmid is the latest Fed official to raise concerns over inflation, even as the market continues to price in another 25 basis points (bps) cut at the upcoming FOMC meeting, which could impact
Two major Wall Street investment banks have issued differing views on the newly public fintech firm Figure (FIGR), as the company works to expand its blockchain-based lending and capital markets platform beyond home equity lines of credit. Keefe, Bruyette & Woods (KBW) initiated coverage of Figure with an “outperform” rating and a 12-month price target
Bitcoin’s price hit new records Monday, as the so-called debasement trade has become more attractive. But Bitcoin mining company stocks rose even quicker, furthering sizable gains seen across the industry in recent weeks. Top public companies in the mining space—including the Nasdaq-listed HIVE Digital, MARA, and CleanSpark—all shot up on Monday ahead of the closing
Stablecoin issuer Tether will reportedly pitch its own list of board candidates and “governance changes” for Juventus, a football club based in Italy in which the company has a 10.7% stake. According to a Monday Reuters report, Tether’s suggestions for the football club’s board will come ahead of a Nov. 7 shareholder meeting, and it
ARK Invest, the asset management firm led by CEO Cathie Wood, is leaning into the tokenization boom by taking a stake in tokenization specialist Securitize as Wall Street races to bring assets onchain. The ARK Venture Fund (ARKVX), ARK’s closed-end, actively managed fund that invests in public and private companies, held 3.25% of its assets
Louisiana Representative Cleo Fields is currently facing scrutiny for a pair of notably well-timed stock trades. In July, Fields bought shares in the Bitcoin mining company IREN. The stock price has since surged massively. Fields also purchased Oracle shares just weeks before the company announced it would oversee TikTok’s US algorithm. Both transactions occurred shortly
Robinhood has yet to address the apparent platform-wide outage of its trading services across the mobile app and website. Summary Thousands of Robinhood users reported being unable to do trades Traders are complaining about being unable to close positions, which can result in losses Scammers are already trying to exploit the situation with phishing messages
Despite comparing it to a money market or high yield bank account as recently as September 29 and planning expansions to cater to euro, pound, or yen investors across the globe, Michael Saylor has admitted that he’s not been able to sell any of his $4.2 billion worth of stretch (STRC) at-the-market (ATM) offering. On
Stocks rose slightly on Monday as Wall Street opened on a positive note, with Paul Tudor Jones saying he sees stocks hitting new record highs before a blow-off top. Summary U.S. stocks edged higher on Monday as investors continued to look past the government shutdown. Paul Tudor Jones told CNBC that stocks could rally more