Bunge to replace Signature Bank in S&P 500, stock rallies 7%
Bunge Ltd. Shares Surge Following S&P 500 Entry On Monday, shares of Bunge Ltd. (BG) experienced a major boost after S&P Indices announced that the company would be replacing Signature Bank in the S&P 500 index. Starting officially on Wednesday just before the opening bell, this shift marks a major milestone for Bunge, a prominent […]
Meta pulling the plug on NFTs across Instagram and Facebook
Meta Pulling the Plug on NFTs Across Instagram and Facebook Meta, the Big Tech firm formerly known as Facebook, recently announced that it will be scrapping its nonfungible token (NFT) feature across its social media platforms Facebook and Instagram, just under a year after its launch. The news was tweeted by Meta’s Head of Commerce […]
Robinhood sees higher stock trading, accounts and margin balances in February, but active users stay flat
Robinhood Markets Inc., a popular trading platform, has reported the number of users contributing funds to their accounts increased by approximately 50,000 in February. This brings the net cumulative funded accounts to 23.1 million. However, the monthly active users for February remained at 12 million, the same as the previous month of January. Additionally, assets […]
Circle, Coinbase highlight instability, crypto concentration in ‘TradFi’
The recent instability in the digital asset sector has once again put the spotlight on the relationship between traditional financial institutions, or ‘TradFi’, and cryptocurrencies. Representatives from Circle and Coinbase have blamed the instability on the traditional financial sector, highlighting how the contagion was from TradFi to crypto rather than the other way around. During […]
East West Bancorp says ‘liquidity is strong,’ but stock suffering biggest selloff since the financial crisis
Shares of East West Bancorp Inc. (EWBC) suffered a massive decline of 23.2% during the morning trade on Monday, which marked their second-greatest one-day sell-off in the organization’s history. The Pasadena, California-based bank was prompted to reassure its investors about its “capital and balance sheet strength” in the wake of recent bank failures. The stock […]
Nouriel Roubini Gloats Over Crypto Banking Crisis
Nouriel Roubini, a Turkish-American economist, has taken to Twitter to express his satisfaction over the recent collapse of several crypto-related banks. Roubini, who is known for predicting the 2008 economic crisis, has long criticized cryptocurrencies, referring to them as a dangerous and unstable investment. He believes that banks that deal with cryptocurrency are putting themselves […]
Acadia’s rare-disease drug to cost $575,000 to $595,000
Acadia Pharmaceuticals recently announced that its newly approved treatment for Rett syndrome, Daybue, will be available by the end of April in the United States. Daybue is the first therapy designed to treat Rett syndrome, a rare neurological disorder that is most commonly found in females. The disorder is caused by mutations in the MECP2 […]
Traders price in nearly 1-in-3 chance Fed leaves rates unchanged on March 22
The collapse of Silicon Valley Bank (SVB) has triggered uncertainty in the financial markets, causing investors to speculate about the Federal Reserve’s next move. The federal regulators moved quickly to make all account holders whole and prevent a domino effect. The recent deposit insurance scheme is fueling the debate on whether a rate hike is […]
Crypto community with over 90% historical accuracy sets XRP price for March 31, 2023
The cryptocurrency community is optimistic about the future of XRP, despite Ripple CEO Brad Garlinghouse revealing the company’s exposure to collapsed bank Silicon Valley Bank (SVB). According to data retrieved from CoinMarketCap, the crypto tracking platform, XRP is set to reach an estimated average price of $0.4101 by March 31, representing a 13.64% increase or […]
AUD and CAD to consolidate over the near term, before strengthening later in the year – HSBC
HSBC economists have forecasted that the Australian dollar (AUD) and the Canadian dollar (CAD) are likely to consolidate in the near term before strengthening over the longer term. Their prediction is based on the factors that influence the currencies. HSBC has suggested that in the short term, the focus will be on the US data […]