U.S. stocks rose on Wednesday, with the Dow Jones Industrial Average, the S&P 500, and the Nasdaq Composite inching higher amid major banks’ earnings and fresh bets on further rate cuts by the Federal Reserve. Summary Wall Street was upbeat as investors cheered banks earnings and anticipated interest rate cuts. Despite U.S.-China trade tensions, stocks
Sony’s banking division has filed to acquire a national banking charter that would allow its subsidiary, Connectia Trust, to engage in “certain specified activities involving cryptocurrency,” according to the company’s application. The application from Sony Bank says the company intends for its new trust to issue U.S. dollar-pegged stablecoins, maintain the corresponding reserve assets, and
This is a segment from the 0xResearch newsletter. To read full editions, subscribe. Beyond the near-term sector rotation, one group continues to stand apart on a year-to-date basis: Bitcoin Miners, up 150.32% YTD. That outpaces Crypto Equities at 16.13% and leaves BTC itself, up just 1.05%, far behind. This miner outperformance reflects a structural shift
TL;DR Arthur Hayes interprets Jerome Powell’s latest speech as a clear signal that quantitative tightening has concluded, paving the way for renewed monetary expansion. He believes this environment will boost liquidity, favoring Bitcoin and other cryptocurrencies. Hayes emphasizes that easier monetary conditions increase appetite for risk, positioning digital assets as key beneficiaries of a potential
Brad Garlinghouse, the CEO of Ripple Labs, called out the Wall Street banking lobbyists who have sought to resist the movement of his company and other crypto firms into the banking sector and into the Federal Reserve’s so-called master accounts. The crypto sector “should be held to the same standard” on money-laundering protections and other
Follow the Leader Having previously warned of the regulatory risks presented by platforms that enable users to monitor and copy trades made by successful traders, Robinhood seems to have decided that if you can’t beat them (or maybe more to the point, they have beaten the regulators), you might as well join them. Join IG,
The U.S. Office of the Comptroller of the Currency has granted conditional national bank status to Erebor Bank, a new tech-oriented bank seeking to rise into the gap left by the collapse of several such lenders in 2023, including Silicon Valley Bank. OCC chief Jonathan Gould said the Wednesday approval — the first new-bank charter
Bitcoin and Ethereum have stabilized following recent volatility, as investors wait to see how long the U.S. government shutdown will drag on. At the time of writing, Bitcoin has been changing hands for $112,127 after having gained about 1% in the past day. Ethereum is now trading for $4,094 after having picked up 3.6% in
The stablecoin market has undergone a sharp expansion over the past year, with total supply climbing 72% to nearly $300 billion, according to data analytics platform Artemis. Much of that growth has been concentrated on Ethereum and Solana, with the recent launch of Plasma marking a milestone. More than $6 billion in stablecoins were issued
While the recent wave of tokenized stocks has mostly targeted offshore users, a new platform called SoloTex aims to bring equity tokens to U.S. retail traders in a compliant way. Texture Capital, a U.S.-based broker-dealer registered with the SEC and FINRA, said it has received regulatory approval to launch SoloTex, a retail trading venue that