Three United States senators have written to Fidelity Investments CEO Abigail Johnson demanding an explanation for the financial services company’s decision to include Bitcoin-exposed funds in its 401(k) retirement plans. “This decision is immensely troubling,” they wrote. Democrats Dick Durbin, Elizabeth Warren and Tina Smith sent their letter Tuesday. The letter, which is around a page and a half long,…
Meta joined Alphabet and Microsoft in releasing disappointing quarterly financials, following the company’s Q2 earnings call. In a week of a disappointment for mega-cap stocks, the trio has all missed revenue and earnings expectations, with Meta seeing its first quarterly sales decline ever recorded. Economic Slowdown Due to the current global economic slowdown, markets had anticipated that earnings of mega-cap…
We’re thrilled to announce that Kraken now supports Arpa Chain (ARPA)! Important update: The Juno (JUNO) Network has come to a halt resulting in blocks and transactions not processing and therefore we have decided to postpone its listing for the time being. Funds are safe. Deposits and withdrawals on Kraken will be processed once the network is active and the…
“You’d think after 11 years, you could start feeling comfortable with your business, but it has basically been wartime in crypto since day one.” In 2011, Kraken CEO Jesse Powell set out to build a crypto exchange that clients and regulators could trust. Despite headwinds and market uncertainties, Jesse has led Kraken through more than a decade of highs, lows,…
Thailand-based cryptocurrency exchange Zipmex is seeking bankruptcy protection against legal action from creditors, according to an update from the company on Wednesday. The company, which froze user withdrawals last week, submitted moratorium applications on July 22 in Singapore for its various entities. These are Zipmex Asia Pte Ltd, Zipmex Pte Ltd, Zipmex Company Limited, PT Zipmex Exchange Indonesia, and Zipmex…
Ether’s (ETH) 53% rally between July 13 and July 18 gave bulls an edge in July’s $1.26 billion monthly options expiry. The move happened as Ethereum developers set a tentative date for the “merge,” a transition out of the burdensome Proof-of-Work (PoW) mining mechanism. Ether USD price index, 12-hour chart. Source: TradingView According to some analysts, by removing the additional…
Senator Sherrod Brown, chair of the Senate Banking Committee, has penned letters to the CEOs of Google’s parent company Alphabet and Apple calling for the tech firms to provide information on the ways they prevent certain apps from promoting crypto scams. According to the letters published on Thursday, Brown asked Apple CEO Tim Cook and Alphabet CEO Sundar Pichai for…
In this week’s episode of Market Talks, we welcome the founder, chief investment officer and managing director of Morgan Creek Capital Management, Mark Yusko. Mark W. Yusko is an investor and hedge fund manager. He is the founder, chief investment officer and managing director of Morgan Creek Capital Management and also the Co-Founder & Partner of Morgan Creek Digital. The…
Ethereum, the second largest cryptocurrency by market cap, is pumping—reaching its highest price in a month as the network’s “merge” fast approaches. Right now Ethereum is trading for $1,724.10, according to CoinGecko data. That’s a 12% increase in the past week. The asset is also up 14% in the past 24 hours. And 30 days ago, it was priced at…
On Thursday, Foundry Digital LLC, the mining company and subsidiary of Digital Currency Group (DCG), announced the launch of Foundry Logistics in order to advance standards in the cryptocurrency mining industry. The newly launched arm of the company plans to “bridge the gap between hardware manufacturers and buyers by providing an all-in-one solution for mining hardware deliveries.” DCG Company Foundry…
