Stocks rallied in early-morning trading on Wednesday, with the Dow Jones Industrial Average adding more than 200 points at the open. Investors appeared to welcome President Donald Trump’s announcement that the U.S. had reached a trade deal with Japan. The Dow Jones Industrial Average rose nearly 240 points, and the S&P 500 inched higher by
Bank of New York Mellon (BNY) and Goldman Sachs (GS) are rolling out tokenized money market funds for clients as digital asset adoption is accelerating. BNY, which is one of the oldest and largest custody banks in the world overseeing $53 trillion of assets, announced on Wednesday to start offering institutional investors token versions of
XRP is now larger than some of the biggest companies in the world, and its most staunch investors believe that it’ll be in the top 10 assets “sooner than many might think.” Now the third-largest cryptocurrency, XRP is the 91st largest asset in the world, according to InfiniteMarketCap, with a market cap of $203.89 billion.
Bitcoin miner MARA Holdings (MARA) said it plans to raise $850 million through a private sale of 0% convertible senior notes due in 2032. The deal, aimed exclusively at qualified institutional buyers, includes an option for initial buyers to purchase an additional $150 million of the notes, potentially bringing the total raise to $1 billion,
By Francisco Rodrigues (All times ET unless indicated otherwise) The government’s announcements of trade agreements with countries including Indonesia and Japan “raised hopes that the U.S. might be about to reach deals with other countries that avoid the higher tariffs,” Deutsche Bank analysts wrote in a note reported on by Reuters. That optimism has allowed
Recent developments suggest positive developments toward in-kind creations for crypto ETFs (exchange-traded funds) after major providers filed amendments. The US SEC (Securities and Exchange Commission) initially approved cash redemptions for Bitcoin and the Ethereum ETFs. Wall Street Set to Benefit as SEC Inches Closer to In-Kind Crypto ETF Approval Major providers filed amendments for in-kind
In a move that has sent ripples across the cryptocurrency landscape, Tether, the issuer of the world’s largest stablecoin USDT, has recently pulled back the curtain on a significant portion of its expansive investment portfolio. This isn’t just about holding reserves; it’s about active, strategic deployment of profits into a diverse array of over 120
Ripple’s push into the U.S. banking system has sparked a fresh backlash from traditional finance, and the company’s chief technology officer is not mincing his words. Following the American Bankers Association’s call for regulators to freeze crypto bank license approvals, including those for firms such as Ripple and Circle, David Schwartz made it clear what
South Korea’s Financial Supervisory Service has verbally instructed local asset managers to limit exposure to crypto-linked stocks such as Coinbase and Strategy in ETFs, citing a 2017 policy that bars institutional investment in virtual assets. Summary South Korea’s FSS has informally directed asset managers to reduce ETF exposure to crypto-linked stocks like Coinbase and Strategy.
Story Highlights Ripple’s trust bank charter bid could redefine U.S. financial law. EGRPRA review allows regulators to approve crypto banks without Congress. XRP, stablecoins, and smart contracts may become U.S. financial infrastructure. The U.S. banking system might be going through one of its biggest changes in years without much public attention. The EGRPRA review (Economic