The entire stablecoin market is now worth more than $160 billion. Justin Tallis | AFP via Getty Images Regulators are getting increasingly worried about stablecoins after the collapse of controversial cryptocurrency venture Terra. TerraUSD, an “algorithmic” stablecoin that’s meant to be pegged one-to-one with the U.S. dollar, has erased much of its value this week […] More
Carvana — Shares of the online used-car retailer popped 25%, alongside other heavily shorted stocks. Nearly 29% of Carvana shares available for trading are sold short, according to FactSet. The company has faced negative sentiment on Wall Street recently, with downgrades this month from Stifel, Morgan Stanley and Wells Fargo. Tapestry — Shares soared 15.5% […] More
Stock futures were slightly higher Wednesday evening after the latest CPI data showed inflation is still running hot. Futures tied to the Dow Jones Industrial Average added 70 points, or 0.2%. S&P 500 futures and Nasdaq 100 futures each added 0.2% also. Shares of Bumble and Rivian jumped 10% and 7%, respectively, in extended trading […] More
Check out the companies making headlines in extended trading. Walt Disney — Disney shares rose about 1% in extended trading after the company reported stronger-than-expected growth in streaming subscribers across its media platforms for the most recent quarter. Bumble — The dating app operator’s shares jumped more than 9% after the company reported $211.2 […] More
Stocks rose Wednesday, as investors tried to look past the latest U.S. inflation data. The S&P 500 rose 0.9%, the Nasdaq Composite added 0.5% and the Dow Jones Industrial Average gained 320 points, or 1%. “I think there’s a hope, and I emphasize hope, that we’ve seen the peak in the rate of change in […] More
Bitcoin, the world’s largest cryptocurrency, has fallen over 50% since setting an all-time high of nearly $69,000 in November. Dan Kitwood | Getty Images The two main tokens from embattled crypto project Terra are now in freefall. UST, a so-called stablecoin that’s meant to maintain a $1 peg, plunged more than 60% Wednesday from 24 […] More
The logo for Coinbase Global Inc, the biggest U.S. cryptocurrency exchange, is displayed on the Nasdaq MarketSite jumbotron and others at Times Square in New York, U.S., April 14, 2021. Shannon Stapleton | Reuters Check out the companies making headlines after the bell: Coinbase — Shares sank 11.5% in extended trading after Coinbase reported first-quarter […] More
Shares of SoFi fell sharply on Tuesday and were halted for nearly three hours after the company accidentally released its first-quarter results early. The company said the report, which was scheduled for after market close on Tuesday, was released early due to human error, according to CNBC’s Kate Rooney. Shares were down more than 18% […] More
In this photo illustration an Upstart Holdings logo is seen on a smartphone screen. Pavlo Gonchar | SOPA Images | LightRocket | Getty Images Shares of Upstart plummeted Tuesday after the artificial intelligence lending platform cut its full-year revenue outlook, citing rising interest rates and an uncertain economy. The company had reported better-than-expected first-quarter results […] More
U.S. stocks rose Tuesday as the major averages attempted to recover from three days of heavy selling that brought the S&P 500 to its lowest level in more than a year. The Dow Jones Industrial Average was last up 300 points, or 0.9%. The S&P 500 and Nasdaq Composite climbed 1.4% and 2.1%, respectively. Technology […] More
Terry Angelos, Visa’s global head of fintech and crypto. DriveWealth One of Visa‘s top executives is leaving the payments giant for a brokerage technology start-up, CNBC has learned. Terry Angelos, Visa’s global head of fintech and crypto, will take over as chief executive officer of start-up DriveWealth next week. Angelos joined Visa seven years ago […] More
Investors in bitcoin are in panic mode as the controversial terraUSD stablecoin slips further from its intended $1 peg. TerraUSD, or UST, sank below 70 cents for the first time late Monday, as holders continued to flee the token in what some have described as a “bank run.” The token fell as low as 62 […] More