Ark Invest’s Cathie Wood Sticks with Crypto, Says Bitcoin and Ethereum Are ‘on the Right Track’
Cathie Wood, the CEO of asset management firm Ark Invest, has declared that she will stick with her crypto investments, praising Bitcoin (BTC) and Ethereum (ETH) as decentralized blockchains that have given her confidence in the space. Speaking with CNBC on Monday this week, Wood praised Bitcoin in particular for being the most decentralized and […]
Ambarella stock down sharply after outlook falls short
Ambarella Inc.’s stock price took a tumble after hours on Tuesday, dropping almost 7%, after having risen 2% in the regular session to close at $94.31. The semiconductor company had released its fourth-quarter results, which showed a net loss of $11.1 million, or 29 cents a share, compared to a net loss of $9.2 million, […]
SEC, CFTC Charge FTX’s Singh With Fraud Following Criminal Plea
In late 2021, when Bankman-Fried, the founder and CEO of FTX, a cryptocurrency derivatives exchange, realized that the platform was $50 million short of his ambitious goal of earning one billion dollars in annual revenue, he instructed his Chief Financial Officer, Singh, to transfer funds from another entity that he controlled. The purpose of this […]
Gold futures post first monthly decline since October
Gold futures rose on Tuesday, but registered their first monthly loss in four months. Investors were likely seeking shelter from inflation pressures in the commodity complex, including gold, according to Rob Haworth, senior investment strategist at U.S. Bank Wealth Management. Gold for April delivery GCJ23 rose $11.80, or nearly 0.7%, to settle at $1,836.70 an […]
Potential to reach recent peaks in the mid-1.24s – Scotiabank
The British Pound to US Dollar exchange rate surged higher on Wednesday, closing the day above the key 1.2000 level. This was welcomed by economists at Scotiabank, who believe that the pair could extend its rally even further, with the potential to reach the mid-1.24s. The bullish move was driven by a “bullish outside range” […]
6-month T-bill rate heads for highest level in 16 years
On Tuesday morning, the rate on the 6-month T-bill surged to 5.140%, according to Tradeweb. This marks the highest level for the rate since February 2007. The rise in short-term rates is attributed to inflation data from France and Spain, which indicates inflation is still an issue outside of the United States. This suggests that […]
Bitcoin miner Marathon expected to see revenue triple in Q4
Mining giant Marathon is expected to report its fourth quarter earnings after the U.S. close today, and analysts are predicting that the company’s revenue will be triple what it was in the third quarter. According to estimates compiled by FactSet, Marathon is expected to report $38.4 million in revenue, still down year-over-year from $60.3 million, […]
Still a long way to go to 2% – Commerzbank
The beginning of 2023 has brought a significant damper to hopes of a swift further decline in the inflation rate. This has led economists at Commerzbank to predict that the Federal Reserve (the Fed) will raise interest rates several more times. Upon review of various core measures, the economists found that the inflation trend is […]
Ongoing pressure higher towards a retest of the 1.37 area – Scotiabank
The US Dollar/Canadian Dollar (USD/CAD) exchange rate has been on the rise, gaining through 1.35 points to test 1.37, according to Shaun Osborne, Chief FX Strategist at Scotiabank. This bullish trend could continue as the trend strength (DMI) oscillators are aligned in favor of the US Dollar on intraday, daily, and weekly studies. The USD/CAD […]
Shiba Inu’s PAW Token Listed by Major LBank Exchange Ahead of Shibarium Launch
Shiba Inu’s PAW Token has been listed by a major crypto exchange, LBank, ahead of the upcoming launch of Shibarium. The news was announced by both LBank and SHIB-themed Twitter handle “SHIBARMY CANADA” (@Dezaxe). PAW (PawSwap) is the native token of the first multi-chain decentralized trading venue that will be built on Shibarium once the […]