The bank is looking to preserve capital as it navigates recent volatility in the crypto industry.
CoinDesk
Hong Kong Stock Exchange’s First Bitcoin Futures ETF Receives $53 Million Initial Investment
The futures ETF will be the first of its kind available in Asia according to the asset manager, CSOP.
Investors in the Hong Kong Stock Exchange will be able to trade the CSOP Bitcoin Futures ETF (3066.HK) starting December 16 according to a press release. The ETF will track the Chicago Mercantile Exchange’s Bitcoin ETFs through active investment. It has received approximately $ 53 million in initial investments at a listing price of $ 1 (HKD 7.75).
Tel Aviv Stock Change To Create Its Own Crypto Platform
The Tel Aviv Stock Exchange (TASE) has recently mentioned its plans to create a crypto platform. It also mentioned that it would be reshaping the ownership structure of the crypto or blockchain-based platform.
The idea behind launching the platform is to implement a strategy to create more opportunities for crypto trading in order to level with international standards.
This plan is a part of the digital asset strategy spread across 2023 to 2027. TASE went public in the year 2019.
It stated that it was on its way to forming a new publicly traded holding company that would own 100% of the bourse, which would become a private firm.
Price Point: Bitcoin Stays Above $20K as US Stock Futures Drop After 2 Days of Big Gains
The latest price moves in bitcoin (BTC) and crypto markets in context for Oct. 5, 2022. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.
CoinDesk
Data Shows Bitcoin Still Highly Correlated With Stock Market
Data shows the Bitcoin correlation with the stock market has been high in recent months as the crypto has been closely following S&P 500 and NASDAQ.
Bitcoin Has Continued To Mimic Movements Of The US Stock Market In 2022
As per the latest weekly report from Arcane Research, while BTC has been more volatile than the stock market, the crypto’s movements have still been pretty close to the latter.
In the year 2022 so far, both the stock market and Bitcoin have found it hard. However, year-to-date, BTC is down 51% while S&P is 14% and NASDAQ 22% into the red, much less than BTC’s losses.
Saylor’s Side Of The Story: MSTR Outperformed Every Asset Class & Tech Stock
Is Michael Saylor’s side of the story the reality of the situation? Or is he on a damage control tour? The ex-MicroStrategy CEO spent the whole day as a guest in what seems like every US financial show in existence, letting everyone know that this whole thing was his idea. Saylor picked his successor for the CEO seat and declared himself Executive Chairman, to focus on the company’s bitcoin strategy. As it usually happens, mainstream media framed it differently.
Voyager Digital Faces Delisting From Toronto Stock Exchange Following Bankruptcy Filing
Crypto broker Voyager Digital (VOYG) has been delisted from the Toronto Stock Exchange (TSX) following its filing for bankruptcy late Tuesday.
CoinDesk
Tesla Warning Ahead of Q2 Earnings as Analyst Downgrades Stock
Tesla earnings are almost here and the electric vehicle maker’s stock has been dealt another blow. Roth Capital Partners has downgraded Tesla stock from buy to hold, as analyst Craig Irwin believes that the current risk-reward ratio seems “well balanced at current levels.” Irwin told MarketWatch that Tesla is on a “viable path for meeting […]
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Cannabis Stock Destroyed by 81% Decline on Clinical Trial Failure
Intec Pharma Ltd. is a tiny company in the space of pot stocks, doing clinical research involving cannabis. But one of their drugs failed a Stage III clinical trial. Intec’s stock got crushed and lost 81 percent of its value. Death of A Cannabis Stock Dream Intec has three drugs in its pipeline, including cannabis […]
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Stock Market Could Rage Higher For Another 8 Years, Fidelity Strategist Claims
The stock market’s unstoppable bull run could keep forging new highs for another eight years. That’s according to Fidelity’s director of global macro, Jurrien Timmer. After breaking new record territory last week, Timmer believes the S&P 500 and Dow Jones are in a bullish super-cycle. And they’re not overcooked yet. If he’s right, any downturns […]
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Tesla’s Stock Could Hit the Skids as Analyst Presses the Brakes
Tesla’s stock had a terrific June and has managed to sustain that momentum this month. But don’t be surprised if it takes a hit and heads lower once the company releases its fiscal second-quarter results on July 24. Elon Musk has propped up expectations by revealing Tesla’s second-quarter delivery numbers already, which smashed estimates and […]
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Stock Market Investors Should HODL Because Pros Can’t Beat S&P 500
The phrase “beating the market” can be defined as earning returns that outperform the gains of a particular benchmark or index such as the S&P 500 Index. Fund managers are supposed to be experts in timing the market. They’re also supposed to have strategies in place to generate profits under any market condition. More […]
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Boeing Keeps Dow in Positive Territory as Stock Market Slides
The Dow outperformed the broader U.S. stock market Friday thanks to strong performances from Boeing Co (NYSE:BA) and Microsoft Corp (NASDAQ:MSFT). Dow Hangs Onto Narrow Gains; S&P 500, Nasdaq Drift Lower The U.S. stock market turned lower in afternoon trading, diverging sharply from a positive pre-market for Dow futures. The S&P 500 Index fell […]
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Disgusted Bitcoin Trader Says Price Charts Mimic an Ugly ‘Penny Stock’
It’s a tough day to be trading crypto, it seems, with at least one Bitcoin trader comparing the $ 185 billion cryptocurrency’s price charts to a “penny stock.” Garbage trading right now. Scalped a few profitable trades but it’s mostly just whales pumping and dumping. Neutral for now, but death cross on 4 hour looming. Order […]
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‘We Deserve It’: BlackRock CEO Brags on ‘World’s-Best’ Stock Market
Despite the Dow, the Nasdaq, and S&P 500 hitting record highs this month, the co-founder of the world’s biggest money manager says the party is not over yet for the U.S. stock market. Speaking on CNBC, the chairman and CEO of BlackRock, Larry Fink, stated that the stock market has plenty more headroom. Fink pointed […]
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Netflix Stock Implodes, Subscriber Exodus Ignites 12% Plunge
A confluence of negative factors slammed Netflix in the past quarter, resulting in subscriber numbers and other metrics exposing Netflix’s vulnerabilities – and leaving the streaming giant’s stock plunging in after-hours trading. Netflix Subscribers Wave Goodbye While earnings-per-share came in at $ 0.60, four cents above expectations, and revenue was only $ 10 million short of expectations […]
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JPMorgan’s S&P 500 Target Exceeds That of Stock Market Bull Tom Lee
J.PMorgan has increased its S&P 500 forecast for the next half of the year. The firm’s new outlook comes on the back of increased speculation tilting toward an end to the U.S.-China trade war and the Federal Reserve adopting a seemingly softer monetary policy. The new Fed monetary policy is predicted to result in reduced […]
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How’s Your Stock Portfolio Doing? Depends on Where You Live.
Fascinating research from JPMorgan reveals that although the stock market is booming, the performance of your individual portfolio depends heavily on what state you live in. That’s because U.S. investors living in different regions tend to favor some S&P 500 sectors over others. Your Stock Portfolio Likely Has a Hidden Regional Bias According to JPMorgan’s […]
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Finance Professor Says Stock Market Is Cheap. Here’s Why He’s Wrong
Jeremy Siegel, a normally astute finance professor from the University of Pennsylvania, told CNBC that he thinks the stock market has another 5 percent to 6 percent upside to reach fair value. He’s out of his mind. “I think fair market value does give us another 5%, 6% this year, but we may go up […]
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Dow Stock Suddenly Plunges After DOJ Says It Lied About Cancer Threat
One of the thirty stocks that make up the Dow Jones Industrial Average suddenly found itself under pressure on Friday after the Justice Department accused it of lying about cancer risks associated with one of its products. Johnson & Johnson Stock Dives 5% Shares of Johnson & Johnson entered a freefall after Bloomberg reported that […]
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