What to Take Away A new report from digital asset data provider CCData says that stablecoin issuers could see a $625 million drop in total annual interest income for every 50 basis point cut by the Fed.1 These hits could quickly add up, as the Fed expects cuts totaling 50 basis points by the end…
What to Take Away Monday morning, Bitcoin (BTC) lost ground, reversing some of the gains made during a positive month for the legacy cryptocurrency. The Federal Reserve’s first interest rate cut in four years and China’s announcement of extensive economic stimulus measures have contributed to gains in recent weeks. Notwithstanding Monday’s decay, bitcoin is still…
What to Take Away To launch a spot XRP exchange-traded fund (ETF) that would provide investors with direct exposure to Ripple Labs’ XRP (XRPUSD) crypto token, crypto index fund manager Bitwise submitted an S-1 registration statement to the Securities and Exchange Commission (SEC) on Wednesday. Contrary to previous assertions made by the SEC, Bitwise made…
What to Take Away Following the Securities and Exchange Commission’s (SEC) decision to appeal a federal court ruling that found XRP (XRPUSD) is not a security when algorithmically sold to retail investors via exchanges, the price of the XRP token fell by as much as 11% on Thursday.1 XRP has since recovered some of those…
What to Take Away According to the lawsuit filed by Crypto.com, the SEC has applied securities law inconsistently to cryptocurrencies, claiming that other cryptocurrencies should be given more leeway than bitcoin and Ethereum’s token. Following receiving a Wells Notice earlier this year, the blockchain technology company Consensys also filed a preemptive lawsuit against the SEC.According…
Shortly after markets opened on Tuesday, DocuSign (DOCU) and MDU Resources Group (MDU) saw gains of 8% and 4%, respectively, following S&P Global’s announcement of index changes. MDU is moving to the S&P SmallCap 600 index, bumping Chuy Holdings (CHUY), while DocuSign is expected to take MDU’s place in the S&P MidCap 400 index. According…
What Does Forwarding Mean? When a commodity or currency’s futures price is higher than the spot (cash) price for immediate delivery in futures contracts, this is known as forwardation. Contango is the more common name for forwardation. Backwardation is in contrast to forwardation/contango. Key Takeaways Understanding Forwarding A futures contract is a legal agreement to…
What to Take Away Entertainment Sphere. DAVID BYRNES, EVP, CFO, and Treasury Manager at SPHERE Entertainment, has announced his departure from the company. Since December of last year, Byrnes has served as the finance chief of the Las Vegas Sphere operator. Prior to that, he was the CFO of Madison Square Garden Entertainment (MSGE), which…
After China reopened following a week-long holiday on Tuesday, investors hoping for additional stimulus measures were disappointed, causing Chinese stocks to plummet. Bloomberg reported that while the Chinese government stated that it would accelerate spending at a crucial policy meeting, it mostly reiterated its previous plans to boost investment and aid for newly graduated students…
When WW International (WW), more commonly referred to as WeightWatchers, made the announcement on Tuesday that it will be offering a knockoff of the most popular weight-loss medications, the news caused shares of WW International (WW), more commonly referred to as WeightWatchers, to rise by nearly 25%. “Access to clinical weight management interventions that are…
