Bitcoin’s price sank on Friday, dipping below $95,000 before recovering slightly by early afternoon ET. The price currently sits at $95,400, down 3.2% on the day and down 15% from a month ago. Bitcoin hit a six-month low Friday as the price of cryptocurrencies seemed to be largely tracking the stock market, which frequently happens. […]
Feds Scrutinizing Potential Insider Trading in Major Crypto Deals
Federal regulators are scrutinizing a growing number of companies that have embraced so-called crypto-treasury strategies this year, after unusual trading patterns in their shares caught their attention. The corporate trend has exploded in recent months, with hundreds of companies investing in crypto this year. Crypto-treasury strategies, popularized by Strategy (formerly MicroStrategy), involve raising funds through […]
Dogecoin Has Made It to Wall Street
Are meme coins a legitimate investment now? Well, Wall Street seems to think so. Last week, REX Financial and Osprey Funds launched the first Dogecoin exchange-traded fund (ETF). Basically, an ETF is a bundle of assets, which can include stocks, bonds, commodities, and now memecoins, that trades on the stock market as a single stock. […]
The Meme Stocks Are Back and May Have Found Their New ‘Roaring Kitty’
It seems meme stocks are back, and this time, the latest craze was sparked—somewhat accidentally—by a Canadian hedge fund manager named Eric Jackson. About three weeks ago, Jackson’s firm, EMJ Capital, bought shares of Opendoor Technologies, a San Francisco–based company that buys and sells homes online, at around $0.70 apiece. Since then, the company’s share […]
Trump Jr.’s ‘Amazon for Guns’ Business Is Firing Blanks
What is the opposite of the Midas touch? Whatever that is, Donald Trump Jr. seems to have it. On Wednesday, an online firearms seller backed by the President’s favorite failson went public. It didn’t take long for the public to say, “No thanks.” On Wednesday, the company’s stock price took a significant hit by the end […]
Tesla Stock Price Reaches ‘Death Cross’ Status
If you haven’t been keeping tabs on Tesla’s stock price (understandable, it’s like the 1,025th most interesting thing that is happening in a world plagued by chaos), you’ve missed a whole lot of volatility. Crucially, you may have also missed its index displaying the dreaded “death cross,” a historical indicator of a likely downturn for […]
Trump ‘Saves’ TikTok With Yet Another Extension for Potential Sale
President Donald Trump announced Friday that he will sign another executive order to allow TikTok to continue to operate in the U.S. for 75 days while a deal to sell the social media platform is negotiated. Trump made the announcement on Truth Social, the platform he continues to own in defiance of the U.S. Constitution’s […]
‘Crypto Is Ground Zero’: Hedge Fund Warns Investors Trump Is Inflating a Catastrophic Bubble
Hedge fund Elliott Management recently sent a letter to investors warning them away from crypto. It urged clients to remember that crypto is a speculative market, suggested that the White House has caused a massive bubble to form, and predicted that a huge crash is coming. The Financial Times saw the letter Elliott sent to […]