Goldman Sachs CEO David Solomon has shot down the notion that the US Federal Reserve will cut interest rates by 50 basis points in September, just days after Standard Chartered Bank made the aggressive forecast. “Whether or not we have a 50 basis cut, I don’t think that’s probably on the cards,” Solomon said during
Key Takeaways The SEC is close to approving ETF share classes for mutual funds, signaling a potential major industry shift. 65-70 mutual fund firms, managing trillions in assets, are preparing to launch ETF share class versions of their products. The Securities and Exchange Commission is close to approving ETF share classes for mutual funds, with
This is a segment from the Forward Guidance newsletter. To read full editions, subscribe. I started covering Franklin Templeton half a dozen years ago while on the asset management beat at a B2B finance pub. I wasn’t aware of the term TradFi back then and knew little about crypto. The $1.6 trillion money manager is
Experts suggest growing anticipation ahead of key macroeconomic events this week has led to a stark divergence between futures traders betting on Ethereum and exchange-traded funds rotating their capital to Bitcoin. Aggregate 24-hour futures volume for Ethereum reached $49.4 billion, surpassing Bitcoin’s $42.9 billion, data from analytics firm Coinanalyze shows. The surge in speculative interest
The US Senate Banking Committee voted 13-11 today to approve the nomination of Donald Trump’s advisor Stephen Milan to serve on the Federal Reserve Board for a short term. The decision was made along party lines, with Republicans reportedly aiming to quickly pass Milan’s nomination through the Senate ahead of next week’s interest rate decision
BlackRock’s IBIT and Fidelity’s FBTC led inflows as bitcoin BTC$114,128.22 ETFs logged their strongest day since July, with BTC climbing past $114,000. Ether (ETH) topped $4,400, as Ethereum funds ETHA and FETH saw renewed demand according to data curated by SoSoValue. BTC spot ETFs pulled in $757 million of net inflows on Wednesday. Fidelity’s FBTC
A new thesis that argues that most crypto value today is captured in apps, rather than blockchains, is gaining popularity with the rise of Hyperliquid and could shift investor behavior over the next few months, a crypto executive says. “All the cool kids are talking about the ‘fat app’ thesis. Feels like that could be
China-based Pop Culture Group, which operates youth-oriented entertainment projects centered on hip-hop, has allocated $33 million of its treasury into Bitcoin to diversify reserves and explore digital assets. The move reflects the company’s plan to integrate cryptocurrency into its financial and operational strategy. It also explores opportunities in Web3 and entertainment-related digital assets. Strategic Allocation
South Korea is reportedly lifting restrictions that have prevented crypto businesses from qualifying as venture companies, giving them new access to tax breaks and financing support. During a cabinet meeting on Tuesday, South Korea’s Ministry of SMEs and Startups said it had passed a partial revision to the Enforcement Decree of the Venture Business Act
South Korea’s stock index KOSPI has surged to its all-time high in four years and two months, signaling a bullish run in the local stock market. An intense wave of foreign buying drove the rally, while shares of crypto-related companies also climbed. South Korean President Lee Jae-myung will outline key financial policies at his 100-day