Monthly Archives: September 2023
Vitalik Buterin, the man behind ethereum, talks crypto and the U.S. crackdown
(CNBC) Buterin was named the world’s youngest crypto billionaire at age 27 as the crypto market swelled to its peak in 2021. They call him “V God” in China, Time magazine dubbed him crypto royalty in its April 2022 cover […]
SEC Cracks Alleged Ponzi Scheme Generating over $15m from over 450 investors
(HedgeCo.Net) The Securities and Exchange Commission has filed charges against Mexico-based company Aras Investment Business Group S.A.P.I. de C.V., its CEO Armando Gutierrez Rosas, and four individuals for fraudulently raising at least $15 million from more than 450 retail investors […]
Millennium alumnus plans $3bn multi-strat hedge fund
(Hedgeweek) A new multi-strategy hedge fund firm led by Millennium Management alumnus and the former head of Morgan Stanley’s prime brokerage operation in Asia, Kurt Baker, is looking to raise neatly $3bn as it seeks to establish itself as a […]
Stock futures are flat as the market heads for big weekly losses: Live updates
(CNBC) Stock futures were flat in overnight trading Thursday as the market is poised to end the week with steep losses. Futures on the Dow Jones Industrial Average were little changed. S&P 500 futures and Nasdaq 100 futures were also […]
Cisco makes largest ever acquisition, buying cybersecurity company Splunk for $28 billion in cash
(CNBC)Cisco is acquiring cybersecurity software company Splunk for $157 per share in a cash deal worth about $28 billion, the company said Thursday, in its largest acquisition ever. Splunk shares ended Thursday up 21%, while Cisco shares closed down 4%. […]
JPMorgan legal fees in Jeffrey Epstein sex traffic cases near $14 million, former exec reveals
(CNBC) JPMorgan Chase has racked up nearly $14 million in legal fees defending itself against two lawsuits alleging it abetted the sex trafficking by its longtime customer Jeffrey Epstein, according to lawyers for a former top executive who says he […]
Wall Street’s ‘meh’ response to tech IPOs shows Silicon Valley’s valuation problem
(CNBC) After a 21-month tech IPO freeze, the market has cracked opened in the past week. But the early results can’t be encouraging to any late-stage startups lingering on the sidelines. Chip designer Arm debuted last Thursday, followed by grocery-delivery […]
Hedge funds pull the plug on energy stocks
(Hedgeweek) Despite a rally in oil prices triggered by the prospect of a widening supply deficit, hedge funds sold energy stocks last week for the first time in three weeks, according to a report by Reuters citing information from Goldman […]
Bridgewater sees surge in onshore China assets as flagship fund flourishes
(Hedgeweek) Bridgewater Associates has seen a surge in assets from wealthy Chinese investors on the back of strong performance by its flagship China fund, which has gained 11% this year as of August, according to a report by Bloomberg. To […]
Fed declines to hike, but points to rates staying higher for longer
(CNBC) The Federal Reserve held interest rates steady in a decision released Wednesday, while also indicating it still expects one more hike before the end of the year and fewer cuts than previously indicated next year. That final increase, if […]
Stock futures edge lower after Fed skips a rate hike, but signals another increase is coming: Live updates
(CNBC) Stock futures traded near the flat line Wednesday night as investors parsed through the Federal Reserve’s projections made earlier in the day. Futures tied to the Dow Jones Industrial Average were lower by 14 points, or 0.04%. S&P 500 […]
GM and Stellantis just laid off more than 2,000 additional workers because of the UAW’s strike
(CNBC) General Motors and Stellantis said they have laid off additional workers because of consequences related to the United Auto Workers strike. GM said in a statement Wednesday that it has halted production at its assembly plant in Fairfax, Kansas, […]