Not only have those stocks outperformed the primary cryptocurrency, but they’ve been among the biggest gainers across the whole U.S. market. In the universe of publicly traded U.S. businesses with a market value of at least $5 billion, the four bitcoin-tied stocks were among the eight best performers, according to FactSet. The crypto boom represents … Read more
Coinbase is confident that a U.S. bitcoin exchange-traded fund will be approved by the Securities and Exchange Commission, the company’s chief legal officer, Paul Grewal, told CNBC. He didn’t say when that’s likely to happen, and added the caveat that any decision would ultimately be up to the SEC. But, Grewal said, it’s likely now … Read more
Arm, the U.K.-based company controlled by Japanese investment giant SoftBank, listed on New York’s Nasdaq on Thursday at an IPO price of $51 per share for a valuation of almost $60 billion. The initial buzz has since fizzled, with the stock suffering successive daily declines to close the Tuesday trading session at $55.17. Cathie Wood, … Read more
Crypto prices should be viewed more like internet stocks than currency, said Brian Brooks, the former U.S. Acting Comptroller of the Currency during the Trump Administration. The biggest misunderstanding around cryptocurrencies is that if they’re “not doing a great job of replacing the U.S. dollar, then crypto is failing in its mission,” Brooks, now the … Read more