Monthly Archives: January 2023
China’s recovery may mean the Fed will have to hike rates longer
(CNBC) As the end of China’s stringent Covid restrictions quickens the country’s economic recovery, concerns about pent-up Chinese demand — and the inflation that may follow — could mean bad news for the U.S. Federal Reserve. Economic data indicates that […]
SEC Obtains Judgment Against Florida Man in Microcap Fraud
(HedgeCo.Net) The U.S. District Court in Boston entered a final judgment by consent against Florida resident Todd Zinkwich, whom the SEC charged for engaging in a scheme to manipulate the market for numerous microcap stocks. The District Court had previously […]
FTX says $415 million of crypto was hacked
(CNBC) Bankrupt crypto firm FTX said on Tuesday that $415 million worth of crypto was hacked from the exchange’s accounts, representing a sizable portion of the identified assets the company is trying to recover. In a presentation titled “Maximizing FTX […]
Bitcoin has now recovered all its losses since FTX collapsed
(CNBC) Bitcoin has held steady above $21,000 for the last two days, bringing it back above the price it was when Sam Bankman-Fried’s crypto exchange, FTX began its slide toward bankruptcy. Since Monday, bitcoin has largely held steady above $21,000, […]
Stock futures fall as earnings season continues
(CNBC) U.S. stock futures were lower on Tuesday night. Futures tied to the Dow Jones Industrial Average fell by 77 points, or 0.23%. S&P 500 and Nasdaq 100 futures dipped 0.23% and 0.26%, respectively. Shares of United Airlines rose more […]
Goldman Sachs posts its worst earnings miss in a decade as revenue falls while expenses rise
(CNBC) Goldman Sachs on Tuesday posted its largest earnings miss in a decade as revenue fell and expenses and loan loss provisions came in higher than expected. Goldman said quarterly profit plunged 66% from a year earlier to $1.33 billion, […]
$1.4 trillion wipeout hits crypto industry at World Economic Forum.
(CNBC) Over the past few years at the World Economic Forum in Davos, Switzerland, the number of cryptocurrency industry attendees has boomed. But after a near $1.4 trillion wipeout in 2022, the crypto industry is being a bit more reserved […]
Carvana adopts ‘poison pill’ and sells $4 billion of auto loans
(CNBC) Carvana has adopted a “poison pill” to limit shareholders from raising their stakes and has reached an agreement to sell up to $4 billion of auto loans, the struggling used car retailer said on Tuesday. The company’s shares gained […]
Los Angeles Individual Charged with Perpetrating a $47 Million Affinity Fraud Targeting Members of the Orthodox Jewish Community
(HedgeCo.Net) The Securities and Exchange Commission has announced that it has filed charges against Yossi Engel for perpetrating a $47 million affinity fraud from December 2018 to January 2020, targeting at least 29 members of the Orthodox Jewish community. The […]
Stock futures tick lower as investors look to corporate earnings
(CNBC) Stock futures were down slightly Monday night as investors attempted to keep building on early 2023 momentum and looked ahead to more corporate earnings. Futures tied to the Dow Jones Industrial Average lost 14 points, or just under the […]
House Republicans move to regulate crypto industry with a new subcommittee
(CNBC) Republican lawmakers announced late Thursday the launch of a new subcommittee that will oversee the crypto and fintech industries, the first of its kind in the U.S., after a tumultuous period for digital currencies. French Hill of Arkansas will […]
Scaramucci sees bitcoin at $50,000 to $100,000 in 2-3 years as market hopes for bull run
(CNBC) After a tumultuous 2022, crypto investors are trying to figure out when the next bitcoin bull run could be. Last week, at a crypto conference in St. Moritz, Switzerland, CNBC spoke to industry insiders who painted a picture of […]