The global wealth held by the top 1% has reached an all-time high of $44 trillion, fueled by the booming stock market, according to economists. The surge in money is attributed to the rise in stock prices, which has given an added boost to consumer spending through what economists...
Read moreBitcoin's price dipped below $65,000 on Thursday as the U.S. dollar surged following a surprise interest rate cut by the Swiss central bank. Despite this, some altcoins like XRP, FIL, and ICP managed to defy the market trend, while others like SOL and AVAX experienced declines. The leading cryptocurrency,...
Read moreIn the dynamic landscape of the stock market, the surge in artificial intelligence (AI) stocks shows no signs of abating, as indicated by the insights of a top-performing tech fund manager. Tony Wang, the astute manager of the $9 billion T Rowe Price Science & Technology Fund, has been...
Read moreSamsung Electronics Co. saw a surge in its stock price on Wednesday, marking its largest gain in over six months. The boost came following a report by Nikkei Asia indicating that Nvidia Corp. is interested in acquiring Samsung's high-bandwidth memory chips. This development signifies a significant milestone for Korea's...
Read moreReddit Inc. and its investors are gearing up for a significant milestone as they aim to raise up to $748 million through an initial public offering (IPO). This move would mark one of the most prominent IPOs of the year, showcasing the company's confidence in its potential for growth...
Read moreA significant development unfolded in the ongoing efforts to address national security concerns surrounding TikTok, as a crucial House committee approved a bill that could potentially lead to the divestment of the popular video-sharing app. Spearheaded by a prominent Republican lawmaker, the proposed legislation aims to compel TikTok's Chinese...
Read moreInvestors in exchange-traded funds (ETFs) seem to have more faith in Bitcoin, often dubbed "digital gold," than in the traditional precious metal itself, as both assets reach record high prices. Spot Bitcoin ETFs have gained net flows since January launch Despite being considered stores of value and inflation hedges,...
Read moreReddit Inc., the popular social media platform, is setting its sights on a valuation of up to $6.5 billion as it prepares for its much-anticipated initial public offering (IPO). Sources familiar with the matter revealed that Reddit is aiming to achieve this valuation in its IPO, indicating a significant...
Read moreWhen Michael Saylor of MicroStrategy appeared on CNBC's "Closing Bell: Overtime" in December to discuss cryptocurrency, he emphasized that bitcoin's forward momentum in 2024 makes a strategy centered around it relatively safe for institutions. While the long-term security of bitcoin remains a topic of debate, Michael Saylor's approach has...
Read moreIn the ongoing legal saga surrounding FTX co-founder Sam Bankman-Fried, his defense team has proposed a maximum sentence of 6 1/2 years in prison. The recommendation comes in response to the potential of a 20-year sentence for Bankman-Fried's alleged involvement in a cryptocurrency exchange fraud scheme. Sam Bankman-Fried, a...
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