Crypto Trader Scott Melker discusses his bullish outlook for bitcoin as it climbs 20% over the past week, despite some claiming the U.S. Senate's $1 trillion infrastructure bill could be bearish for the crypto markets. "Well, [the] price hasn't reacted bearishly," Melker said. "Bitcoin's going to seven figures. It's going to be a multi-million dollar figure."
Octavio Marenzi, CEO of capital markets consultancy Opimas, discusses why the U.S. Senate's $1 trillion infrastructure bill could have driven crypto markets higher. "Within the infrastructure bill actually, there is a huge, huge silver lining for crypto, [and] I think that's why we're seeing bitcoin shoot up," Marenzi said. "This whole discussion about what is a 'broker'... really doesn't matter. It's the spending that's going to be important, the increase in the money supply that's going to come with it, and that's very, very good for crypto."
Bitcoin pulled back as traders digest regulatory developments in the U.S.
Cryptocurrency investors have been transfixed over the past few days by the antics of a mysterious hacker who stole more than $600 million -- before giving some of it back.
After a vote Monday, U.S. Sen. Richard Shelby (R-Ala.) filed an objection to the bipartisan compromise on a crypto tax provision in its $1 trillion infrastructure bill. The Senate is now poised to pass the version without the crypto amendment. Next, it's expected to send the bill to the House of Representatives, which prepares to take it up later this year. CoinDesk's Global Policy & Regulation Managing Editor Nikhilesh De discusses what happened during the 11th-hour debate on the crypto amendment and the implications for crypto.
Sam Bankman-Fried, now 29, is a billionaire 16 times over, according to a recent Forbes estimate. But can he make FTX, his risky crypto business, work?
Jeff Horowitz, Chief Compliance Officer of crypto custodian BitGo, digs into the U.S. Senate's $1 trillion infrastructure bill and what it could mean for his business. "I don't see it as a day one issue for us, but as we've seen this week, really broad and narrowly defined definitions could mean a lot," Horowitz said. "To put a bill out there and figure out later is not the best way to go about sensible regulation." Plus, his insights into why the U.S. government has given a contract to Anchorage Digital over BitGo and broader crypto adoption for the institutional markets.
(Bloomberg) -- The cryptocurrency sector is back in sight of a $2 trillion market value, a level last seen in May, but further gains face an obstacle from potential new U.S. tax reporting requirements.The value of more than 8,800 tokens tracked by CoinGecko has risen 55% to $1.95 trillion from a July low, helped by rallies in Bitcoin and Ether. The climb in Bitcoin has stalled due to the oversight of virtual currencies in the infrastructure bill passed by the Senate, according to crypto exchange
(Reuters) -Southwest Airlines Co warned on Wednesday that the spread of the Delta variant of COVID-19 had hit bookings and increased cancellations, hurting its chances at profitability this quarter. The rapid surge in cases of the variant has pushed U.S. hospitalizations to a six-month high, prompting governments in areas such as Hawaii to reimpose restrictions and threatening a recovery in travel demand. Dallas-based Southwest cut its forecast for third-quarter operating revenue by three to four percentage points from its prior outlook issued just three weeks ago, the first major U.S. carrier to trim guidance as a result of the variant.
Surges of confirmed coronavirus cases and hospitalizations in several U.S. states are causing health professionals to sound alarms about the continued spread of the highly contagious Delta variant, the transmission of which is being primarily driven by unvaccinated individuals.
"Markets need to digest some overbought levels before attempting $50,000-$55,000 resistance," Zerocap's Chapple said.
Former YUM! Brands Chairman & CEO, David Novak, joins 'Influencers with Andy Serwer' to discuss common characteristics among all great leaders
Anchorage Co-Founder & President Diogo Monica joins Yahoo Finance Live to discuss how investors can protect their crypto investments from hackers.
Co-founded in 2003 by tech billionaire Peter Thiel, Palantir caters to government bodies and other industries with its two software platforms by enabling customers to integrate their own data with the platforms and helps them get an analytical view of their operations. The company, known mainly for its work with U.S. government defense and intelligence agencies including the Central Intelligence Agency (CIA), has also partnered with companies such as 3M and Rio Tinto for data offerings.
The direction of the EUR/USD on Wednesday is likely to be determined by trader reaction to 1.1720.
The consumer price index rose a bit less than expected in July, as the core inflation rate eased off June's 29-year high. Dow Jones futures gained ground in early Wednesday stock market action after the CPI report, pointing to another record high. The consumer price index, or CPI, rose 0.5% from the prior month and 5.4% from a year ago, the Labor Department said Wednesday.
For today's trade, we're looking at a risk reversal in Century Communities. This is a bullish strategy with unlimited profit potential aimed at gaining upside exposure for your portfolio. But, this trade also comes with increased risk.
Bitcoin is becoming part of the dollar-based financial system it once sought to displace.Why it matters: Cryptocurrency is beloved by people who want to transact outside the reach of any government. But it's gotten mainstream enough that politicians and regulators want to co-opt it and bring it squarely within their own fields of influence — even using it to help pay for an infrastructure bill.Get market news worthy of your time with Axios Markets. Subscribe for free.The big picture: As crypto a
(Bloomberg) -- Lumber futures slid to the lowest in more than nine months after sawmills ramped up production and demand from builders stabilized.September futures in Chicago fell as much as 4.4% to $482.90 per thousand board feet, the lowest for a most-active contract since Oct. 30. Prices have dropped more than 70% from the record high reached just three months ago.The tumble marks a stark turnaround for the common building material after strong U.S. construction demand during the pandemic spu
Thus my preferred POV remains BTC should see a decent pullback soon before rallying again.
BEIJING (Reuters) -Chinese premium electric vehicle maker Nio Inc, which now counts BMW and Audi as rivals, is working on a mass-market new brand that will be positioned similar to Volkswagen and Toyota, its CEO said. The automaker had stepped up preparations to make mass-market products under another brand https://www.reuters.com/article/us-nio-china-idUSKBN29G06C and a "core team" had been assembled as a "first step of a strategic initiative", Chief Executive William Li said on Thursday. "The relationship between Nio and our new mass-market brand will be like that of Audi-Volkswagen and Lexus-Toyota," Li said, without specifying the price range of the new vehicle.
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