In a U.S. Senate Banking Committee hearing on Wednesday, Senator Elizabeth Warren brought up the use of crypto to fund trade in the opioid fentanyl between China and the United States. “Fentanyl is among the leading causes of death among Americans 18 to 45,” said Warren. “China is the leading supplier of chemical ingredients called…
Generation Z is getting smarter about their money, with some starting to invest even before they turn 18, according to a new report. The survey by FINRA Investor Education Foundation and the CFA Institute, which defines Generation Z as those aged between 18 to 25, concluded that 6 in 10 owned at least some investments….
Hi everyone, welcome back to another Distributed Ledger. This is Anushree Dave, crypto reporter at MarketWatch. May is on track to become the first month in 2023 when NFT trading volume will fall well below $1 billion, according to new analysis from DappRadar. But brands, despite the low trading volume, are surprisingly still launching NFT…
The U.S. dollar, which rallied to a two-month high on Thursday, is demonstrating a bullish signal from a technical perspective and has the potential to trend up in the coming months, according to Sevens Report Research. The greenback’s strength will weigh on equities, starting by the beginning of June, noted Tom Essaye, founder of Sevens. …
Alibaba Group shares 9988, -5.24% fell in Hong Kong trade, extending overnight losses on Wall Street, after the Chinese e-commerce giant’s latest quarterly revenue growth missed some analysts’ expectations. The stock has lost as much as 5.9% and was last down 5.1%. The selloff came after Alibaba posted a 2% revenue increase for its fourth…
Failed crypto exchange FTX is suing co-founder and former Chief Executive Sam Bankman-Fried and others, seeking to claw back about $240 million related to the company’s acquisition of stock-trading platform Embed. In a filing Wednesday in U.S. Bankruptcy Court in Delaware, FTX claimed Bankman-Fried and others — including FTX co-founders Zixiao Wang and Nishad Singh…
Shares of Robinhood Markets Inc. moved higher after hours on Wednesday after the trading app reported first-quarter results that were better than expected — even as trading activity remains muted when compared to last year. But in Robinhood’s HOOD latest efforts to reverse that trend with new products — including things like IRAs and forays…
Crypto exchange Binance paused bitcoin withdrawals twice Sunday, saying the blockchain was congested by too many pending transactions. “We’ve temporarily closed #BTC withdrawals due to the large volume of pending transactions,” Binance said Sunday night on Twitter. “Our team is currently working on a fix and will reopen $BTC withdrawals as soon as possible. Rest…
Ray Dalio, billionaire and founder of Bridgewater Associates, holds a “little bit” of bitcoin BTCUSD, but “doesn’t understand why people are more inclined to go to bitcoin than gold,” he said in a new podcast interview with YouTuber Chris Williamson. MarketWatch has reported in the past that Dalio holds bitcoin. “Cryptocurrency or Bitcoin doesn’t move…
Terraform Labs co-founder Daniel Shin was reportedly indicted in South Korea on Tuesday in connection to last year’s implosion of TerraUSD and Luna crypto coins. South Korea’s Yonhap, the Wall Street Journal and Bloomberg News reported that Shin, 38, faces charges including fraud, breach of duty and embezzlement. At least eight others were also said…
The uncertainty around whether the U.S. will raise its debt ceiling before it is hit in coming months has started to rattle some financial markets as it did in 2011, but it might provide a bullish case for bitcoin, according to analysts at crypto investment company NYDIG. The deadline to raise the U.S. debt ceiling,…
Rakuten Bank Ltd. shares surged on their first day of trading on Friday following a $667.5 million initial public offering. The shares were recently at 1,936 yen, 38% higher than their IPO price of Y1,400. The shares opened at Y1,856. The banking unit of Rakuten Group Inc. 4755, -2.33% is now listed on the Tokyo…
After months of allegedly dodging lawyers, Hall of Fame basketball star Shaquille O’Neal has finally been served in a shareholders’ lawsuit against bankrupt crypto platform FTX. “Plaintiffs in the billion $ FTX class action case just served @SHAQ outside his house,” the Moskowitz Law Firm said in a tweet Sunday. “His home video cameras recorded…
Don’t miss these top money and investing features: Sign up here to get MarketWatch’s best mutual funds and ETF stories emailed to you weekly! INVESTING NEWS & TRENDS 3 S&P 500 sectors say a new bull market is near. These 8 stocks are top picks. Financials and industrials typically perform best at the end of bear…
U.S. financial regulators appear set to tighten the screws further on the digital asset industry, with Securities and Exchange Commission Chairman Gary Gensler taking the lead in an ongoing crackdown on illegal crypto activities. The SEC voted Friday to issue supplemental guidelines on how a proposed update of securities-exchange regulations would impact crypto markets broadly…
Ethereum, a blockchain that supports the world’s second-largest cryptocurrency, ether, completed an important upgrade on Wednesday, which allows holders to withdraw their coins that they locked up for rewards. Ethereum’s ETHUSD so-called Shanghai upgrade, which is also referred to as the Shapella upgrade, was completed at around 6:27 p.m. Eastern time Wednesday. It…
Bitcoin rallied Monday to its highest level in 10 months, as some industry proponents touted the asset as a potential “safe haven,” like gold, as recession fears return to the forefront, and after fears rose last month about potential instability in the banking system. The world’s largest cryptocurrency topped $30,000 Monday night for the first…
Falling oil prices and fears about capital flight helped push the Russian ruble to its weakest level against the U.S. dollar in a year on Monday, the latest milestone in what has been a dramatic reversal of fortune for the currency. The ruble showed surprising resilience against the U.S. dollar last year despite Russia’s invasion…
Decentraland, a virtual gaming platform accessible only through laptops and desktops, held its second annual Metaverse Fashion Week on the last week of March. Notable brands that participated in the virtual experience included big name fashion companies like Tommy Hilfiger (under PVH PVH, -2.81% ), DKNY, Adidas ADS, -0.12%, Dolce & Gabbana, and others. But…
Dogecoin DOGEUSD supporters no longer appear able to count on Twitter to help elevate their dog-themed cryptocurrency’s image, or apparently its price. As of Thursday evening, Twitter had switched back to its classic blue bird logo from a Shiba Inu image displayed earlier in the week, and the price for dogecoin dropped to $0.086 from…