Olga Kharif sizes up some new competition for crypto-native companies in the next presidential administration. Crypto-native firms are expected to flourish as a result of a more favorable regulatory regime under President-elect Donald Trump. This lighter regulation, however, may end up being a dual-edged sword. Source link
Crypto stocks enjoyed a short-lived rally before reversing direction Thursday on the heels of a push from bitcoin (BTC-USD) to a record high above $100,000. That record was fueled by news from President-elect Donald Trump that he would nominate crypto-friendly Paul Atkins to lead the US Securities and Exchange Commission (SEC). Bitcoin traded as high…
Elon Musk’s xAI has raised $6 billion in new capital, according to a regulatory filing, wrapping up a funding round that has been in the works for months and was said to value the artificial intelligence startup at more than $40 billion. The equity financing came from 97 investors, and includes stakes as small as…
The ultimate Trump trade just hit six figures. Bitcoin passed $100,000 for the first time, bringing gains since the November election to 50%. The latest leg up came after Trump selected Paul Atkins, a pro-crypto regulator, to head the US Securities and Exchange Commission. He’ll replace Gary Gensler, who attracted the ire of crypto enthusiasts…
The Bitcoin faithful have many reasons to rejoice. With what is widely seen as a crypto-friendly US administration on the horizon, the digital asset extended its rally and zoomed past $100,000 to set a new record. The latest jump was keyed by President-elect Donald Trump’s selection of Paul Atkins to run the Securities and Exchange…
Even in an age of instant communication and live financial data, investors have had to wait days to take ownership of the stocks they purchased or to receive payment for the stocks they sold. No longer. Since May 28, US stock trades have “settled” in one day rather than two. Global banks, brokers and investors…
New York: US Securities and Exchange Commission (SEC) Chairman Gary Gensler will step down as Wall Street’s top regulator at the end of the Joe Biden administration, he said. “Gensler has been coy about when he planned to leave the SEC but was expected to depart before President-elect Donald Trump is sworn into office. He…
Good morning. Jerome Powell isn’t in a hurry to lower US interest rates. Rachel Reeves says that the UK’s crackdown on banks went too far. And shop for thrifty to expensive watches with Bloomberg Pursuits. Listen to the day’s top stories. Federal Reserve Chair Jerome Powell said the US economy’s recent performance has been “remarkably…
Stocks rose at the end of their best week in 2024 amid solid consumer sentiment data and bets that Donald Trump’s promises of tax cuts will further benefit corporations. Equities advanced for a fourth consecutive session with the S&P 500 hitting its 50th record this year. The gauge briefly topped the 6,000 mark and ultimately…