Marquee at the main entrance to BlackRock headquarters building in Manhattan. Erik Mcgregor | Lightrocket | Getty Images SALT LAKE CITY — A year ago, Samara Cohen believed there was so much pent-up demand for bitcoin that she and her team at BlackRock launched one of the first-ever spot bitcoin exchange-traded products in the U.S. … Read more
Sovereign wealth funds out of the Middle East are emerging as key backers of Silicon Valley’s artificial intelligence darlings. Oil-rich nations like Saudi Arabia, United Arab Emirates, Kuwait and Qatar have been looking to diversify their economies, and are turning to tech investments as a hedge. In the past year, funding for AI companies by … Read more
Jim Cramer’s daily rapid fire looks at stocks in the news outside the CNBC Investing Club portfolio. Coca-Cola : The soft drink giant was named top pick at Morgan Stanley, replacing PepsiCo . “This is a challenged group with GLP-1s [weight loss and diabetes drugs] and sugar,” and Coca-Cola CEO James Quincey has done a … Read more
The crypto markets appear calm heading into the weekend after a volatile week that tested how institutional investors new to the crypto trade would react to the mammoth swings that are old hat for more seasoned digital currency investors. The sell-off in bitcoin and ether began earlier this week and wiped out $367 billion in … Read more
A video of Jared Kushner is shown on a screen, as the House select committee investigating the Jan. 6 attack on the U.S. Capitol holds a hearing at the Capitol in Washington, Thursday, July 21, 2022. Alex Brandon | Reuters In March 2022, Jared Kushner was called to testify in front of the Jan. 6 … Read more
A new stock exchange in Dallas, Texas, is set to begin securities trading next year, with plans to start listing companies by 2026. The Texas Stock Exchange (TXSE) Group has secured $120 million in funding from over two dozen investors, including Larry Fink’s Blackrock and Kenneth Griffin’s Citadel, making it “the most well-capitalised exchange entrant … Read more
Michael Intrator, CEO of CoreWeave, participates in a CNBC interview on May 9, 2024. CNBC Fresh off a $1.1 billion equity funding round, artificial intelligence infrastructure startup CoreWeave has raised $7.5 billion in debt to more heavily invest in its cloud data centers. Blackstone’s funds led the lending round, with participation from Coatue, Carlyle, BlackRock, … Read more
Boaz Weinstein, founder and chief investment officer of Saba Capital Management, during the Bloomberg Invest event in New York, US, on Wednesday, June 7, 2023. Jeenah Moon | Bloomberg | Getty Images Boaz Weinstein, the hedge-fund investor on the winning side of JPMorgan Chase’s $6.2 billion, “London Whale” trading loss in 2011, is now taking … Read more
Jakub Porzycki | Nurphoto | Getty Images PARIS — Issuers of spot bitcoin exchange-traded funds on Tuesday say the U.S. Securities and Exchange Commission is unlikely to approve such a product for the cryptocurrency ether. The regulator has a late May deadline to conclude its review on an ether ETF. That comes after the SEC in March … Read more
DAVOS, Switzerland — Bitcoin does nothing, JPMorgan Chase CEO Jamie Dimon said Wednesday on the sidelines of the World Economic Forum. “I call it the pet rock,” he added. Dimon is a long-time bitcoin critic. The bank chief said in 2021 at peak crypto valuations that bitcoin was “worthless,” and he doubled down on that sentiment last … Read more
