It’s getting frothy out there. Pick any stock market metric, whether it’s the Nasdaq’s closing price or a more technical measure like the Shiller P/E ratio, and the number will look unusually large. Throw in crazy AI valuations, for privately held startups and publicly traded stocks alike, and what we’re seeing looks a lot like…
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After opening for trade just before 2:00 p.m. ET on Thursday at $85 per share, Figma (FIG) closed its first day of trading above $117 on Thursday, rising more than 250% from where the design and collaboration software firm priced its initial public offering at $33 per share. At the close of trading on Thursday,…
After opening for trade just before 2:00 p.m. ET on Thursday at $85 per share, Figma (FIG) closed its first day of trading above $117 on Thursday, rising more than 250% from where the design and collaboration software firm priced its initial public offering at $33 per share. At the close of trading on Thursday,…
ARK Invest unloaded another round of shares of Circle (CRCL) across its ETFs just two weeks after the stablecoin issuer’s high-profile IPO. The biggest cut came from the flagship ARK Innovation ETF (ARKK), which sold 490,549 shares, or about 1.8% of the portfolio. ARK Next Generation Internet ETF (ARKW) and ARK Fintech Innovation ETF (ARKF)…
In just the past month, stablecoin has moved from the fringes of cryptocurrency into the heart of mainstream finance. Hong Kong enacted its stablecoin ordinance, creating a regulatory framework to legitimise and support the issuance of stablecoins, while US lawmakers discuss similar legislation aimed at fostering large-scale stablecoin adoption. Meanwhile, stablecoin issuer Circle Internet Group…
China is not a fan of cryptocurrencies. Over the past decade, the Chinese government has built up one of the world’s most hostile regulatory frameworks against cryptocurrency-related activities, including trading and mining. Beijing views digital assets like bitcoin as a threat to the country’s financial stability and capital account controls, and even a challenge to…