Researchers at Pennsylvania State University recently analyzed whether attitudes and emotionality surrounding cryptocurrency could help predict returns. What they found may stand in stark contrast to related financial markets. According to the team’s research paper, social media plays an outsized role in adoption and activity rates, while cryptocurrency journalism isn’t a great predictor of market movement:
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The weighted average cost of purchased Bitcoin recently reached a level signifying that all investors who have consistently dollar-cost averaged into Bitcoin (BTC) are now in the black, regardless of how long they have been holding. Just a reminder that every single pleb who has been dollar cost averaging #bitcoin is now in profit no
Municipals were mixed Monday ahead of a larger new-issue slate while U.S. Treasuries improved and equities were up near the close. Triple-A yields saw a mix of one to two basis point bumps and cuts, depending on the curve, while UST saw yields fall by one to 11 basis points with the strongest moves inside
City executives gathered in London’s Square Mile on Monday evening to hear chancellor Jeremy Hunt announce his latest reforms aimed at tapping the UK’s financial services sector to reinvigorate the economy. Hunt will use his “Mansion House reforms” to attempt to boost the UK economy by channelling pensions savings towards potentially higher growth, illiquid assets
Environmentally friendly infrastructure got a big boost just before California Gov. Gavin Newsom signed the budget on July 1 and then again last week through a grant-funding program. With the budget shortfall this year, lawmakers scrambled to tap the state’s cap-and-trade program and other non-general fund sources to sustain ongoing programs. California lawmakers added money
Digital asset manager Grayscale has filed a letter in its lawsuit against the United States Securities and Exchange Commission (SEC) over the rejection of a spot Bitcoin exchange-traded fund (ETF), citing a possible precedent in furtherance of its case. In a letter dated July 10, Grayscale’s legal team notified the U.S. Court of Appeals for
Bitcoin has been struggling to rise and sustain above the $31,000 level for the past few days, but Standard Chartered has painted a bullish picture for this year and the next. In a report, the bank said that Bitcoin (BTC) could reach $50,000 this year and stretch the rally to $120,000 by the end of next year.
After months of feuding on how to deliver a massive property tax cut, Texas legislative leaders announced Monday they reached an agreement on a bill that could be sent to Gov. Greg Abbott later this week. With the state projected to end its fiscal 2022-23 biennium on Aug. 31 with a record $32.7 billion budget
A for sale sign is posted in front of a home for sale on February 20, 2023 in San Francisco, California. Justin Sullivan | Getty Images Home prices hit a record high in May, rising 0.7% nationally compared with April at a seasonally adjusted rate, according to the Black Knight Home Price Index. Prices, which
Former Sterlington, Louisiana, mayor Vern Breland has agreed to settle a Securities and Exchange Commission lawsuit that alleged he and Sterling’s municipal advisor, Aaron Fletcher of Twin Spires Financial, misled investors on two offerings worth $5.8 million. Without admitting or denying the findings, Breland has been permanently barred from participating in future issuances of municipal
Municipal underwriters handled $171.714 billion in 3,501 issues in the first half of 2023. The total par amount and issues continued to decline, down from $201.119 billion in 4,688 deals in 2022. BofA Securities remained at the top of the list, with $22.948 billion, accounting for 13.4% of the market, but the rest of the
California headlined the top 10 issuers of the first half of 2023, almost all of which outperformed their par amounts year-over-year. Four new issuers entered the top 10, one of which did not sell debt in the first half of 2023. Three of the issuers who fell out of the top 10 — the Louisiana
A bankruptcy case involving an Arizona participant sports venue could be dismissed amid allegations by a U.S. trustee of “dishonesty, incompetence, or gross mismanagement,” as well as the possible misuse of bond proceeds on the part of its nonprofit owner. Legacy Cares Inc. filed the Chapter 11 bankruptcy in Arizona federal court May 1 after
Municipal financial advisors saw $146.805 billion of business in 2,685 transactions in the first half of 2023, down from $167.727 billion in 3,484 deals over the same time period in 2022. Municipal Capital Markets Group, Columbia Capital Management and Caine Mitter and Associates moved into the top 10, while Baker Tilly Municipal Advisors, Stifel Nicolaus
The UK and France are Europe’s closest relations. They have economies of similar sizes and shapes. They have colonial pasts of a similar hue and geographic spread, though the British empire was the larger. Given this, anyone interested in improving the lot of people in one country would do well to study the successes and mistakes
Andrew Bailey, Bank of England governor, will warn on Monday that the “unexpected resilience” of Britain’s economy has exacerbated wage and demand pressure that is fuelling stubbornly high inflation. He is due to tell the annual Mansion House dinner in the City of London that current pay deals are unsustainable if the central bank is
In this article NVAX DKNG LCID CVNA Follow your favorite stocksCREATE FREE ACCOUNT A Carvana used car “vending machine” displays vehicles on December 09, 2022 in Miami, Florida. Joe Raedle | Getty Images Check out the companies making headlines in midday trading. Carvana — Shares soared 10% in midday trading. The company said on Monday
In New York City, discerning buyers are increasingly viewing Passive House design principles as the key differentiator as they size up potential new homes. Happily for them, a growing number of companies are designing using Passive House principles. The Passive House method of construction results in structures that remain comfortable for the occupants, both in
New York state agencies need to do more to protect the state’s water systems from threats like cyberattacks and natural disasters, according to an audit released by state comptroller Thomas DiNapoli. “New York has thousands of water systems supplying drinking water,” DiNapoli said, “but as we’ve seen in other states, this critical infrastructure is increasingly
Russian president Vladimir Putin met Yevgeny Prigozhin and other Wagner commanders a few days after their aborted mutiny, the Kremlin revealed on Monday. Dmitry Peskov, the president’s spokesperson, said Putin invited at least 35 people, including Prigozhin and the battalion commanders from the private military group, to the Kremlin on June 29. The meeting lasted
Turkish president Recep Tayyip Erdoğan has tied Ankara’s approval of Sweden’s Nato bid to his country’s efforts to enter the EU, in a fresh blow to Stockholm’s attempt to join the military alliance. “I call out to those who have kept Turkey waiting at the EU door for more than 50 years, pave the way