Category Archive: Cryptocurrency, No picture
Senators question DOJ for ‘unprecedented interpretation’ over Samourai Wallet and Tornado Cash
Senators Ron Wyden (D-Ore.) and Cynthia Lummis (R-Wyo.) have sent a letter to Attorney General Merrick Garland, questioning the Department of Justice’s (DOJ) “unprecedented interpretation” of the law in its pursuit of cryptocurrency software services, such as Samourai Wallet and Tornado Cash, as unlicensed money-transmitting businesses.The senators argue that the DOJ’s approach contradicts previous guidance […]
Exhausted Consumers Are “Spent Up & Lent Up”, So Economy Will Slow
Image Source: Pexels It feels like a tale of two economies right now.If you ask an economist, chances are you’ll hear that the US is doing great, growing faster than its G7 peers, with low unemployment and a stock market back near all-time highs.But if you ask the average man on the street, you’ll likely hear […]
The Market’s Prion Disease Returns
Image Source: Unsplash Prion diseases, of which “mad cow” is the best known, are thankfully quite rare in humans. However, for better or worse, the market’s version – the meme stock trade — recurs periodically. As I type this, GameStop (GME) is up about 70% today and several other speculative darlings are showing double-digit gains. Why? Because […]
HarryPotterObamaSonic10Inu unveils new memechain technology
Meme coin HarryPotterObamaSonic10Inu (BITCOIN) has announced today the launch of its blockchain, powered by AltLayer and EigenDA, the data availability layer of EigenLayer. On May 14th, the meme coin completes its first year.announced Despite not revealing details, the X post shared that this new blockchain will be a “memechain.” Since the announcement, BITCOIN has risen […]
Sentiment And Data Not Matching
Image Source: Pexels “Davidson” submits:Three sentiment indicators reflected additional pessimism from the week prior after the PMI came in at 49.1, a PMI recession signal below 50. I suspect this caused portfolio managers to add downside hedges as seen in the SP500 Net Non-Commercial Futures, the WTI and a more pessimistic position on the Yield Curve. None of […]
Bitcoin To Hit $75K Before July?
Image Source: Unsplash In the wake of Bitcoin’s halving event that happened in the middle of April, a significant number of investors are still hoping that a bullish sentiment will follow in the not-distant future. This article will discuss how soon the potential bull will trigger a price gain for Bitcoin and whether it will be […]
Here’s What Wall Street Is Saying About Home Depot, Lowe’s Ahead Of Earnings
Image Source: Unsplash Home improvement retailers Home Depot (HD) and Lowe’s (LOW) are scheduled to report results of their first quarters before the market open on Tuesday, May 14, and Tuesday, May 21, respectively. Home Depot’s conference call is scheduled for 9:00 am EDT on Tuesday and Lowe’s will hold its quarterly call the following Tuesday at 9:00 am EDT. […]
Could Quantitative Tightening Cause Another Liquidity Crisis In Repo Markets?
Image Source: Pexels What is the repo market and how did it change after the Global Financial Crisis (GFC)? The U.S. repurchase agreement, or “repo” market, provides more than $3 trillion in short-term funding each day. Most repo transactions are overnight and are collateralized by Treasuries. Repos (to get cash) and reverse repos (to lend cash) are used for […]
Why The Big Oil And Big Tobacco Comparisons Are Ludicrous
Image Source: Pexels Recently the Senate Budget Committee held a hearing to discuss a recent report that accused “Big Oil” of a “decades-long deception campaign” to misinform the public about the dangers of climate change.Sharon Eubanks, a former federal litigator, proposed that the government should pursue legal action against the petroleum industry, drawing parallels to the litigation against […]
Swiss bank UBS holds 3,600 shares in BlackRock’s iShares Bitcoin Trust, SEC filings show
In a recent 13F filing with the Securities and Exchange Commission (SEC), UBS Group AG, the Switzerland-based global investment bank and financial services firm, disclosed a substantial holding in the iShares Bitcoin Trust (IBIT), an exchange-traded fund (ETF) managed by BlackRock Inc.The filing, which covers the first quarter of 2024, reveals that UBS Group AG, […]
