Galen Moore is a member of the CoinDesk Research team. The following article originally appeared in Institutional Crypto by CoinDesk, a weekly newsletter focused on institutional investment in crypto assets. Sign up for free here. Investors are beginning to have a clear sense why bitcoin exists: it’s digital gold, a narrative that has emerged clearly as other
Month: October 2019
The New York State Thruway Authority will sell its first big bond deal since getting a Moody’s Investors Service upgrade. The NYSTA is scheduled to hold a $2.65 billion transaction next week comprised of $950 million of federally taxable Series M general revenue bonds and $1.7 billion of general revenue Series 2019B junior indebtedness obligations.
A New York judge has rejected a New York Attorney General’s office request to have Bitfinex and Tether collect all documents pertaining to an alleged $850 million cover-up and $900 million line of credit. The NYAG’s office asked New York Supreme Court Justice Joel Cohen to order Bitfinex, Tether, and a number of other affiliated
A video sign displays the logo for Roku Inc, a Fox-backed video streaming firm, in Times Square after the company’s IPO at the Nasdaq Market in New York, U.S., September 28, 2017. Brendan McDermid | Reuters Check out the companies making headlines after the bell: Roku shares climbed more than 4% after news broke Thursday
The Bakkt Futures trading volume for Bitcoin (BTC) has gained almost 800% in just one day after a slow start to life for the long-awaited futures contract trading platform headed by the Intercontinental Exchange (ICE). Bakkt Volume Reaches All-Time High A bot account on Twitter, which tracks the number of contracts traded on Bakkt, reported
Rendering of new Andrew Rafacz Gallery at 1749 W. Chicago Avenue in Chicago’s West Town neighborhood. Courtesy of Andrew Rafacz Gallery CHICAGO, Ill. – After 15 years in Chicago’s West Loop neighborhood, internationally acclaimed Andrew Rafacz Gallery is relocating to a new 2,000-square-foot storefront space at 1749 W. Chicago Avenue, an historic building constructed in 1916
Real estate agent shows a home in Venice Calif. Anne Cusack | Los Angeles Times | Getty Images Cooler weather historically means a cooling off period in the housing market, but that is not the case this fall. After dropping to the lowest level in eight years, bidding wars are creeping back. In September, 11%
CNBC’s Jim Cramer is warning against trading stocks on the roller coaster of U.S.-China headlines as the two countries restarted high-level talks aimed at ending their 15-month-old trade war on Thursday. Markets are “hostage to events that are not only totally out of our hands, but I think totally out of the president’s hands,” Cramer
Crypto liquidity and OTC provider B2C2 has launched a gold derivatives product that synthetically trades against bitcoin in what the firm says is an important evolution in the safe-haven asset trading space. Launched in 2015 and receiving regulatory approval for crypto derivatives in the U.K. earlier this year, B2C2 offers bulk crypto purchases through its
First-time municipal payment defaults and “impairments” are up through the third quarter this year compared to the same period last year, reversing a 10-year trend, according to Municipal Market Analytics. First-time issuer defaults are up 19% to 37 through the third quarter compared to the same period last year. That excludes Puerto Rico which is
Mutual fund giant Vanguard has partnered with Nasdaq Ventures-backed blockchain startup Symbiont to develop a trading platform for the $6 trillion currency market, the companies said. With the new platform, Vanguard, which manages $5.2 trillion, aims to lower transaction costs for the trillions of dollars worth of currencies it trades annually by boosting peer-to-peer trading
Shoppers exit a Bed Bath & Beyond store in New York. Michael Nagle | Bloomberg | Getty Images Check out the companies making headlines after the bell: Bed Bath & Beyond shares surged as much as 22% during extended trade after the company announced that Mark Tritton will take the helm as president and CEO
Veritaseum founder and CEO Reg Middleton is in talks with the US Securities and Exchange Commission to reach a settlement on claims that the VERI initial coin offering (ICO) misled investors with regard to the token’s potential value. Veritaseum “Knowingly Misled” Investors Back in August, the SEC filed an emergency lawsuit against Veritaseum and its founder
Money stack us dollar finance concept Getty The concept behind identifying stocks with lower than average price/earnings ratio is that the investor is receiving more in earnings for the price paid than with higher p/e issues. With the multiple of the S&P 500 now sitting at 21, it’s interesting to screen for what Benjamin Graham
A home mortgage sign on a Wells Fargo branch in Brooklyn, New York. Getty Images An unexpected decline in mortgage interest rates had homeowners calling their lenders last week, looking to save money on their monthly payments. Refinance demand surged, pushing total mortgage application volume up 5.2% last week compared with the previous week, according
A trader works on the floor of the New York Stock Exchange (NYSE) in New York. Michael Nagle | Bloomberg | Getty Images It might be time to buy into small-cap stocks even though they are lagging their large-cap counterparts, some strategists say. The Russell 2000 — which tracks small-cap stocks — has dropped more
PG&E Corp., the California utility giant forced into bankruptcy by two years of devastating wildfires, warned that it may orchestrate its biggest planned blackout yet to keep power lines from sparking more blazes. PG&E may cut electricity to more than 645,000 customers in the Bay Area and beyond, including parts of Santa Clara and Alameda
The cryptocurrency industry isn’t replacing Wall Street just yet. But inventors and entrepreneurs are working on it, with some initial success, albeit modest. In this case, an option premium of 0.0202 bitcoin ($217 at the time) paid via a smart contract may have just become the proof of concept. The latest target for blockchain disruption
Investing pioneer Charles Schwab came to the New York Stock Exchange floor this week to speak with CNBC about his new book, Invested, a personal memoir of the company’s history. Schwab founded an investing newsletter firm in 1963 that would be incorporated in 1971 and officially become Charles Schwab & Co. in 1973. Price wars:
An employee holds a shopping bag while ringing up a customer at the Levi Strauss & Co. flagship store in San Francisco, March 18, 2019. David Paul Morris | Bloomberg | Getty Images Check out the companies making headlines after the bell: Shares of Levi Strauss briefly rose 2%and then settled slightly above its closing
Libra will be the focus of the cryptocurrency regulatory framework planned by the European Union’s finance commissioner Valdis Dombrovskis. “Common Approach” Needed, Says Commission VP The former Latvian Prime Minister has been the Vice President of the European Commission since 2014 and said in his bid to be reappointed that the EU needs to take a
Real estate in New York today cannot be, as it might have been in the past, the centerpiece of anyone’s get-rich-quick scheme. But it’s still a good long term investment both financially and emotionally, providing as it does a gateway to the most Photo by Jil Beckmann on Unsplash I believe in the value of
Fort Myers, Florida. Philippe TURPIN | Photononstop | Getty Images There’s no place like home. Unless, of course, you are retired. Lured by better weather, lower taxes or an improved quality of life, many older Americans consider relocating to stateS like Florida or the Carolinas. To that end, U.S. News & World Report determined the
There’s a correlation between recent weakness in the stock market — led by certain sectors — and Elizabeth Warren’s surge in the polls, according to some analysts and strategists on Wall Street. One banking analyst, Oppenheimer’s Chris Kotowski, went so far as to title his latest research note “The Warren Correction,” where he pointed out
Forbes’ November 2013 cover on how Michael Dell won the war to take his company private. Forbes Media “Dell Can’t Lose,” read the cover of Forbes Magazine on November 18, 2013, as we chronicled how personal computer billionaire Michael Dell relented against Carl Icahn to take his company private in what was dubbed “the nastiest tech buyout ever.” If
A sudden mayoral change in Atlantic City is not expected to yield any major policy changes as the Jersey Shore gambling hub gets set to begin its fourth year under state intervention. City Council President Marty Small was sworn in as acting mayor Friday after the resignation of Frank Gilliam, who pleaded guilty in federal
Jennifer Robertson, the widow of QuadrigaCX founder Gerald Cotten, is transferring nearly $9 million ($12 million CAD) in assets to EY Canada, the bankruptcy trustee for the now-defunct crypto exchange. Robertson announced the move in a statement on Monday, saying since her husband’s death late last year, she had “made every effort” to assist in
An American Airlines Boeing 737-800 plane takes off from Los Angeles International airport. Mike Blake | Reuters Check out the companies making headlines after the bell: Shares of American Airlines dipped 1.65% during extended trading after authorities in Miami forcibly removed a man on a flight to Newark, New Jersey earlier Monday. The man reportedly
Tether and its sister company Bitfinex have been accused of creating “the largest bubble in human history” in a lawsuit filed in New York this week. Tether Artificially Inflated Prices The class-action suit filed in the Southern District of New York alleges that the two companies, and a number of affiliated entities, manipulated the crypto market
2020 budget planning, a rite of October, now reaches a truth-or-dare moment as a critical path priority for housing’s big and small business players players. Real money’s at stake, tons of it. The fates and fortunes of firms hinge on superior skills at matching who they are, and how they invest, with what will come
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