Cryptocurrency Markets

Will the stock market drop 20% or 48% from the peak? Here's the key factor, says this strategist.

Will the stock market drop 20% or 48% from the peak? Here’s the key factor, says this strategist.

“Is the economy under control or is it spiraling out of control? That’s the million-dollar question traders continue arguing over,” sums up CrackedMarket blogger Jani Ziedins. Clearly, the latter argument prevailed — again — after Wall Street’s worst day in two years, and futures hinting of more pain for Thursday. Among the gloomsters, Guggenheim’s Scott …

Will the stock market drop 20% or 48% from the peak? Here’s the key factor, says this strategist. Read More »

Crypto Meltdown Exposes Hollowness of its Libertarian Promise

Crypto Meltdown Exposes Hollowness of its Libertarian Promise

To its advocates, cryptocurrency is, at its heart, a libertarian project to free mankind from the shackles of government—most of all its power to debase a “fiat” currency by printing more of it. Do Kwon, the South Korean creator of the stablecoin TerraUSD, regularly equated fiat currency to “state violence.” So when inflation took off, …

Crypto Meltdown Exposes Hollowness of its Libertarian Promise Read More »

This 24-year-old quit his job at hedge-fund powerhouse Citadel to build on the blockchain Terra. It collapsed two months later.

This 24-year-old quit his job at hedge-fund powerhouse Citadel to build on the blockchain Terra. It collapsed two months later.

At the start of 2022, Neel Somani was a quantitative research analyst working at Citadel, billionaire Ken Griffin’s powerhouse hedge-fund firm, which manages about $47 billion. But at age 24, Somani quit in late February with dreams of getting rich in crypto and helping to build a more decentralized financial system.  Somani chose to focus …

This 24-year-old quit his job at hedge-fund powerhouse Citadel to build on the blockchain Terra. It collapsed two months later. Read More »

Gloomy Goldman offers 20 'safety' stocks with valuations below the previous 2 bear markets

Gloomy Goldman offers 20 ‘safety’ stocks with valuations below the previous 2 bear markets

It’s tight quarters in Wall Street’s bear sleuth these days. Goldman Sachs just downgraded their 2022 U.S. growth forecast (to 2.4% from 2.6%) and 2023 (to 1.6% from 2.2%), as senior chairman Lloyd Blankfein warned of “very, very high” risks for a U.S. recession. “If I were running a big company, I would be very …

Gloomy Goldman offers 20 ‘safety’ stocks with valuations below the previous 2 bear markets Read More »

Coinbase Stock Keeps Sliding After Earnings Report

Coinbase Stock Keeps Sliding After Earnings Report

The biggest cryptocurrency exchange in the U.S. said it was bleeding users, reflecting continued destruction in the crypto market and investors’ unease about risky assets. Coinbase Global Inc. COIN -12.60% said Tuesday that it lost hundreds of millions of dollars in the first quarter, sending the stock tumbling in after-hours trading. Following the after-market report, …

Coinbase Stock Keeps Sliding After Earnings Report Read More »

Cryptocurrency TerraUSD Falls Below Fixed Value, Triggering Selloff

Cryptocurrency TerraUSD Falls Below Fixed Value, Triggering Selloff

One type of cryptocurrency, a so-called stablecoin, is meant to keep its value at $1. But on Monday, the third-biggest stablecoin, TerraUSD, fell as low as 94 cents, causing a flood of investors to sell their holdings. Stablecoins get their name from their being tied to the value of government-issued currencies, such as the dollar. …

Cryptocurrency TerraUSD Falls Below Fixed Value, Triggering Selloff Read More »