Crypto EcoBlog
The analyst said TradFi institutions trying to get into crypto, but are unsure how to begin, may use Coinbase stock to enter. According to the co-founder of research firm Reflexivity Research Will Clemente, shares of major cryptocurrency exchange Coinbase Global Inc (NASDAQ: COIN) could serve as an indicator for the crypto sector. Clemente says Coinbase shares could be an “index play” for traditional finance (TradFi) firms looking for a way into the industry. Clemente offered his opinion...
Read More »US Weekly Job Claims Edge Up Slightly amid Robust Labor Market, GDP in Q3 Increases at 4.9%
The Bureau of Economic Analysis reported that GDP increased at a 4.9% annualized rate in Q3, slightly below the previously reported 5.2% pace. The latest report from the United States Labor Department reveals a marginal increase in weekly jobless claims, with the number rising by 2,000 to 205,000 for the week ending December 16. While this uptick might raise eyebrows, it is important to note that the overall trend remains at historically low levels, indicative of a labor market that has...
Read More »Affirm Expands to Self-Checkout at Over 4,590 Walmart Stores, AFRM Stock Jumps 15%
The collaboration between Affirm and Walmart is expected to increase the purchasing power during the end-of-year festive season as more shoppers can pay over time. Affirm Holdings Inc (NASDAQ: AFRM), an American financial technology company that offers buy now pay later (BNPL) services for online and in-store purchases, has announced a strategic partnership with Walmart Inc (NYSE: WMT) to expand their services during this holiday shopping season. According to the announcement, Affirm has...
Read More »Eurozone Annual Inflation Falls to 2.4% in November
With November’s finalized Eurozone Consumer Price Index (CPI) settled at 2.4%, the Core CPI (excluding energy, food, alcohol, and tobacco) stood at 3.6%. In November 2023, prices across a diverse range of goods and services in the Eurozone area experienced a notable decline compared to October. According to new data published by Eurostat, the statistical office of the European Union, the Eurozone observed a downturn in its annual inflation rate, confirming a 2.4% figure for November. The...
Read More »US SEC Delays Decision on Multiple Ethereum ETFs, What’s Next?
In the recent filing, the US SEC stated that they are still considering on whether these Ethereum ETFs should be listed. The United States Securities and Exchange Commission (SEC) has announced a delay in its decision on several Ethereum (ETH) exchange-traded funds (ETFs) until May 2024. As per regulatory filings on December 18, the SEC postponed its decision on the Hashdex Nasdaq Ethereum ETF and the Grayscale Ethereum Futures ETF. The Hashdex Ether ETF shall hold both spot Ether and...
Read More »Crypto Was Institutionalized in 2023, Says Goldman Sachs
According to a recent report from Goldman Sachs, 2023 saw significant institutional support for the crypto industry, especially for derivatives trading. For as long as the crypto industry has existed, it has pursued institutional support. Considering the fact that the crypto industry operated on the fringes of the mainstream financial world for so many years, institutional support would mean both more financial benefits and public validation. Well, according to Goldman Sachs, 2023 saw...
Read More »Crypto Stocks Down during Pre-market Hours as BTC Price Drops to $41K
With the Bitcoin mining landscape gaining steam, the competition is heating up and the most positioned miners will be the biggest beneficiaries moving forward. Today the price of Bitcoin (BTC) is down. The major crypto asset is treading below $41,000 this morning. The main crypto stocks in the pre-market are also in the red zone. Coinbase Global Inc (NASDAQ: COIN) is down 3% and is trading at around $143. MicroStrategy Inc (NASDAQ: MSTR) stock is down over 3%, trading at $551. Marathon...
Read More »Brazil Enforces 15% Taxation on Overseas Crypto Holdings, President Approves
Strating January 1, 2024, Brazil will introduce a flat 15% tax on crypto profits and up to 6,000 Brazilian reais ($1,200), will be exempt from taxation. In a significant move, President Luis Inácio Lula da Silva of Brazil has signed into law a measure that imposes taxes on crypto assets held abroad by Brazilian citizens. The law, signed on December 12, was officially published in the Diário Oficial da União (Official Diary of the Union) on the following day. The taxation law shall come...
Read More »Intel Unveils New AI Chips to Rival Nvidia’s Dominance in AI Industry, INTC Stock Up 1%
Dubbed Gaudi3, Intel intends to attract generative AI companies like OpenAI away from Nvidia and bolster its stock market performance. Intel Corp (NASDAQ: INTC) stock closed Thursday trading at $45.18, up 1.37 percent from the day’s opening price. Although Intel has been on a winning streak since the calendar flipped in January, the company is not satisfied with the performance as its rival Nvidia Corp (NASDAQ: NVDA) has more than tripled its valuation year-to-date. As a result, Intel has...
Read More »Dow Jones Jumps 500 Points to All-Time High as Fed Keeps Rates Unchanged
With yesterday’s historic high, the Dow Jones extends its Q4 rally to more than 10%. On the other hand, the technology sector also makes a fresh all-time high. In a historic surge, the Dow Jones Industrial Average set a new record by closing above 37,000 points for the first time. The Federal Reserve’s indication of multiple rate cuts in the coming year was the major catalyst behind the move. The 30-stock Dow soared by 512.30 points, or 1.40%, finishing at 37,090.24, surpassing its...
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