Meme-Based Cryptocurrencies: At the end of last year, the crypto market price soared, igniting the mainstream interest in the space that we see today. Despite the popularity, coins like Bitcoin (BTC), Bitcoin Cash (BCH), and Ripple (XRP) continue to take precedence. But there are hundreds of cryptocurrencies available, with some being meme-based cryptocurrencies. In an age where
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The price of bitcoin fell to its lowest point since February today. As of press time, the leading cryptocurrency’s price went as low as $6,063, according to CoinDesk’s Bitcoin Price Index (BPI), a significant drop considering the day’s opening price of $6,717.20. The near-$700 decline (which saw prices decline roughly 10 percent) effectively brought bitcoin to
On May 17th, the Chinese government published its public Blockchain and cryptocurrency ratings. Initially, it gave the coveted no.1 spot to Ethereum, but now it has EOS ranked no.1. A second round of the rating list has been released and Ethereum has been pipped to the post by none-other-than EOS (Perhaps the Chinese government changed its
Last week, Coinbase announced that it will soon be adding Ethereum Classic. The move sparked joy across the crypto-board. However, some were left wondering – is Coinbase adding Ripple? Considering Coinbase is moving to Japan, where XRP is popular and is openly looking to list new virtual currencies, it seems like it’s only a matter of
Phil Potter, chief strategy officer for cryptocurrency exchange Bitfinex, has reportedly left the company. Reuters reported Friday that Potter, who is also a director of the ‘stablecoin’ issuing company Tether, will be temporarily replaced by Jan Ludovicus van der Velde, Bitfinex’s CEO. Following the publication of this article, a representative for Bitfinex provided CoinDesk with
Management turnover at Intel will not negatively impact the company’s business momentum, according Credit Suisse. The firm reiterated its outperform rating for the chipmaker’s shares, predicting the company will generate strong earnings results next year. On Thursday Intel announced the resignation of its CEO Brian Krzanich for his infraction of the company’s non-fraternization policy. Krzanich
Even as growth ramps up to what could be the fastest rate since before the financial crisis, economists are worried that a trade war could tip the U.S. into a significant slowdown or even a recession. Fears over a GDP pullback comes as President Donald Trump threatens another more severe round of tariffs aimed both
Chinese crypto miner arrested: A man has been arrested in the Anhui Province of China for allegedly stealing 150 megawatts (MW) of electricity. Chinese Crypto Miner Arrested Local media outlet Xinhua reported the arrest today, stating that the man, known under the surname Ma, had more than 200 computers that he was attempting to mine
CarMax shares rose to an all-time high on Friday after the company reported quarterly earnings that beat expectations. The stock closed up 12.86 percent, posting its best day since June 24, 2014. The used-car company reported net earnings increased 12.7 percent to $238.7 million and adjusted earnings per share up 17.7 percent year over year
Litecoin’s (LTC) price hit a seven-month low on Friday as the cryptocurrency markets turned risk-averse. The world’s sixth largest cryptocurrency by market capitalization fell to $84.39 at 14:00 UTC – its lowest level since November 29, according to CoinDesk’s Litecoin Price Index – and was last seen at $84.99, down more than 12 percent on the
Shutterstock Since President Donald Trump announced stiff tariffs on Chinese goods, as well as on U.S. allies, the stock market has trended lower. For perspective on what may lie ahead, we turn to Nicholas Atkeson and Andrew Houghton, the founders of Delta Investment Management in San Francisco, for guidance: Larry Light: Who is hurt the worst in
Energy stocks are riding crude oil’s rally. Now, a major energy ETF just needs to break its stubborn resistance level, according to one chart watcher. “The key level to watch is the $78 level on the XLE,” Matt Maley, equity strategist at MillerTabak, told CNBC’s “Trading Nation” on Thursday. “That’s the level that’s stopped rallies
Despite a generally positive economic outlook, one asset manager warns that signs of a potential market crash are now appearing. Regardless of whether it happens sooner rather than later, any time the market drops, Oracle of Omaha Warren Buffett recommends keeping a level head and picking up a copy of “The Intelligent Investor.” “Any time
Shutterstock Looking at the underlying holdings of the ETFs in our coverage universe at ETF Channel, we have compared the trading price of each holding against the average analyst 12-month forward target price, and computed the weighted average implied analyst target price for the ETF itself. For the iShares Russell 1000 ETF, we found that
President Donald Trump said on Friday he wants OPEC to raise its oil production. “Hope OPEC will increase output substantially. Need to keep prices down!” Trump said on Twitter. Tweet Link OPEC announced from its meeting in Vienna that it would raise output, but it was unclear by how much. The official press release by
Investors are starting to realize that massive strength in tech and retail stocks has been concealing weakness in the broader market, CNBC’s Jim Cramer said Friday. “This is a horrendous decline that we just haven’t talked about because it’s been masked by FAANG and by the retailers and by a couple [small-cap] domestic stocks,” Cramer
Electronic Arts shares will rise due to the success of its subscription gaming services, according to one Wall Street firm. Needham reiterated its buy rating for EA shares, saying its subscription business is already worth $3 billion to the company. “We believe that EA is building a Netflix for video games,” analyst Laura Martin said
Creditors of the defunct bitcoin exchange Mt. Gox just won a big victory. According to a Friday release from Mt. Gox trustee Nobuaki Kobayashi, the exchange’s ongoing bankruptcy proceedings have been paused and a civil rehabilitation process will commence. The Tokyo District Court issued an order on June 22 approving a petition to begin civil rehabilitation, which
Shutterstock Looking at the underlying holdings of the ETFs in our coverage universe at ETF Channel, we have compared the trading price of each holding against the average analyst 12-month forward target price, and computed the weighted average implied analyst target price for the ETF itself. For the iShares North American Natural Resources ETF, we
Japan has also been a crypto-forward and friendly country, but it seems Japan’s top financial regulator is putting its foot down on cryptocurrency exchanges. Just this morning, the Financial Services Agency (FSA) issued six new business improvements to the list of 16 cryptocurrency exchanges it previously approved. The list of Japenese crypto exchanges receiving administrative punishment
In this photo taken March 6, 2017, a man living in a homeless encampment peddles a bicycle between tents that the city was to remove the following day, in Seattle. Sixteen months after he declared a state of emergency on homelessness, Seattle’s mayor is asking voters in this liberal, affluent city for $55 million a
The sustainability practice of a large European asset management firm is banning investments in Facebook shares. Nordea’s head of group sustainable finance Sasja Beslik explained the decision on social media Thursday. “Nordea has decided to exclude Facebook from the Nordea Stars Funds’ investments,” he said in a tweet. The company’s Stars Funds invest in firms
Photo by VCG/VCG via Getty Images A lot of people are peeved at Elon Musk, one of this era’s premier entrepreneurs. After all, the chief executive of electric car pioneer Tesla has plenty to answer for. Consider: The red ink is mounting. While the company’s revenue is expanding—because, let’s face it, there’s a demand for
Despite tensions over whether or not OPEC and non-OPEC cooperation should continue, the oil minister of the United Arab Emirates and the current OPEC President Suhail Al Mazroui says the cartel is looking enhance and “institutionalize” the ongoing partnership. The move resulted in the coming together of 14 OPEC oil producers and 10 non-OPEC producers
Check out the companies making headlines before the bell: BlackBerry – BlackBerry reported adjusted first-quarter profit of 3 cents per share, compared to analysts’ expectations of a breakeven quarter. The software and services company also saw revenue top estimates. Medtronic – The medical device maker announced a 9 percent increase in its quarterly dividend to
Bitcoin prices fell more than 5 percent on Friday after a regulatory agency in Japan ordered several cryptocurrency exchanges to review their business practices. The digital currency traded at $6,349 as of 7:45 a.m. ET, breaking below $6,400 for the first time in about a week. The order from Japan’s Financial Services Agency, led bitFlyer
A little-known indexing event on Friday will likely result in the year’s biggest volume day, with large trading and potential price swings in well-known names like Apple, Microsoft, J.P. Morgan, and Grubhub. One of the world’s largest index providers, FTSE Russell, is rebalancing the large-cap Russell 1000 and the small-cap Russell 2000 indexes. This is
Bitcoin’s (BTC) bears may be building for a strong comeback, having pushed prices to a eight-day low below $6,300 earlier on Friday. The price fell to $6,286 on Bitfinex at 09:50 UTC, the lowest level since June 14, and, at press time, was changing hands at $6,326, down around 6 percent over 24 hours. As discussed
Japan’s financial watchdog has issued business improvement orders to six licensed cryptocurrency exchanges following on-site inspections conducted over recent months. According to an announcement made by the Financial Services Agency (FSA) on Friday, the regulator is ordering bitFlyer, QUOINE, BTC Box, Bit Bank, Tech Bureau and Bit Point to enhance their internal-auditing and user-protection systems.
Robinhood stock trading app: A National Banking Charter is attractive to many financial tech companies but alas! it is very hard to get. That hasn’t stopped California-based stock trading app Robinhood from approaching regulators at the Office of Comptroller of the Currency (OCC), with an ambition to acquire necessary licenses allowing it to receive a national banking