Grayscale has applied to the U.S. Securities and Exchange Commission (SEC) to change its XRP Trust into an exchange-traded fund (ETF) on NYSE Arca. According to a filing lodged with the regulatory agency, the XRP Trust is among the largest investment instruments anchored to Ripples native token, with more than $16 million in assets under
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After a short-lived rally past $3,700 in early January, Ethereum struggled to sustain its gains and is now 12% below its recently established local top. The leading altcoin’s market sentiment remains muted. As such, a new analysis suggests that the next significant price shift will largely be influenced by whales. Ethereum’s price has stabilized above
Apple shares rose in after-market trading on Thursday after the company forecast higher sales than Wall Street expected, a sign the company expects iPhone sales to recover as it rolls out artificial intelligence features. Apple executives said they expect sales for the current quarter to rise in the low- to mid-single digit range. After accounting for a
After Meta removed tampons from mens bathrooms in company office buildings earlier this month, some employees started coordinating “quiet rebellions” by bringing in their own, according to a new report. In early January, CEO Mark Zuckerberg overhauled a variety of Metas internal and external policies, ranging from lifting restrictions on speech to “restore free expression”
CEOs are feeling unburdened by what has been (as Kamala Harris would put it) that is, the diversity, equity and inclusion policies that were de rigueur under the Biden administration. Just a week after President Trump signed an executive order banning DEI programs in the federal government, some executives are privately rejoicing that it could
The University of Tennessee wants to be given the right to sell a wider variety of bond types. AdobeStock The University of Tennessee wants the Tennessee State School Bond Authority to grant it the right to offer bonds supported by its general operating budget rather than revenue streams. Residence halls and parking lots are the
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Apple revealed quarterly results that slightly exceeded Wall Street expectations, but iPhone sales were flat on the previous year as the company battles rising competition from local device makers in China. Apple on Thursday reported
<img src=”https://public.flourish.studio/visualisation/21394989/thumbnail” width=”100%” alt=”chart visualization” /> Municipals were firmer Thursday as inflows into muni mutual funds continued. U.S. Treasury yields were little changed and equities ended mixed. The two-year municipal to UST ratio Thursday was at 64%, the five-year at 64%, the 10-year at 66% and the 30-year at 83%, according to Municipal Market Data’s
“We know they will come back at this again and again and again,” said New York Democratic Sen. Chuck Schumer of the Trump administration’s efforts to freeze federal funds that conflict with the administration’s priorities. Al Drago/Bloomberg The White House Wednesday rescinded a controversial federal funding freeze directive that triggered widespread confusion although the legal
Michael Decker, senior vice president of federal policy and research at the Bond Dealers of America. Dealer groups responding to a request for information regarding the Municipal Securities Rulemaking Board’s rate card process told the MSRB it should ease dealers’ “unfair” fee burden by levying activity-based fees on municipal advisors, while MAs view that idea
A bill filed by an Oklahoma Republican lawmaker would change which state official enforces 2022’s Energy Discrimination Elimination Act and remove bond and note sales from a contract ban.Bloomberg News The sale of bonds or notes by Oklahoma governments would be exempted from a contract provision in a 2022 state law that has led to
The University of Chicago’s Center for Municipal Finance is publishing first-of-its-kind data that showcases bond investments by Congressional district, said Justin Marlowe, a research professor at the University of Chicago’s Harris School of Public Policy. As warning signs flash over the fate of the municipal bond tax exemption, the University of Chicago’s Center for Municipal
“From what I hear, there was absolute panic,” said Marty Margolis, founder of the Public Funds Investment Institute, “and it was cross-partisan lines, panic. A new administration always makes changes. Were they going to be this drastic? Nobody ever expected that.” PFII Despite current uncertainty driven by a series of executive orders in the opening days
Signed contracts on existing homes dropped a sharp 5.5% in December from the previous month and fell 5% from the prior year, according to the National Association of Realtors. The drop followed four straight months of gains and is the index was at its lowest level since August. These so-called pending sales are an indicator
A restaurant damaged by Hurricane Milton in St. Pete Beach, Florida, in October.Bloomberg News The recovery of Florida, North Carolina, and Tennessee local governments and utilities from hurricanes Helene and Milton continues but the outlook for next season and beyond is troubling. Many localities and public utilities are emerging from the storms’ aftermaths financially hit
“As issuers see our name out there, that we’re willing to put our capital commitment in play, they’re going to give us opportunities to be an underwriter more and more,” Noe Hinojosa, president of Estrada Hinojosa, said. Estrada Hinojosa Estrada Hinojosa & Co., which was acquired by Texas Regional Bank in August, is expanding its
Sometimes politics resembles one of the weirder branches of modern physics or a fantasy version of biology. Time may seem to run backwards; solid things turn out to be insubstantial; black holes swallow up the light; the dead may walk the Earth, ghouls crawl out of cleft rocks, velociraptors not only reappear but learn to
President Donald Trump intended his flood of executive orders to shock and awe his opponents. But on Monday night, a memo from the Office of Management and Budget instead shocked the Trump White House. That memo, with its call for a temporary pause to all federal-government grants and loans, set off widespread panic and confusion
WASHINGTON Meta has agreed to pay $25 million to settle a lawsuit filed by President Donald Trump against the company after it suspended his accounts following the Jan. 6, 2021, attack on the Capitol, according to three people familiar with the matter. It’s the latest instance of a large corporation settling litigation with the president,
Tesla said it was on track to roll out new, cheaper electric vehicle models in the first half of 2025 and would start testing an autonomous ride-hailing service in June, enthusing investors and overshadowing quarterly results that fell short of Wall Street expectations on Wednesday. Tesla’s market value has soared with the election of President Trump,
Meta Platforms’ fourth-quarter revenue beat Wall Street expectations on Wednesday, but the company predicted sales in the current first quarter may not meet forecasts, sending mixed signals about how bets on pricey artificial intelligence-powered tools are paying off. The Facebook and Instagram parent company expects first quarter revenue between $39.5 billion and $41.8 billion, compared with
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