Pantera Capital, one of the high-profile backers of Terraform Labs, cashed out nearly 80% of its Terra (LUNA) investment well before TerraUSD (UST) collapsed last week. “The market has been fairly frothy over the last year and thus we’d exited the majority of our position before any of this happened,” Joey Krug, co-chief investment officer … Read more
The crypto crash will not reduce the sector’s climate impact any time soon, an economist has warned, even though the environmental footprint of digital currencies is in theory set by their market value. “Unless bitcoin collapses further, there’s no reason to expect a decrease in environmental impact,” said Alex de Vries, a data scientist at … Read more
Nearly one out of every four of Elon Musk’s Twitter followers are either spam or bot accounts, according to researchers. Musk, who has reported he may pull out of his $44 billion acquisition of Twitter because of the prevalence of fake bots, has a total of 93.8 million followers on the social media platform. Of … Read more
The retail giant reported a stunning 52% drop in profit for the first quarter, badly missing Wall Street’s forecasts. The company blamed higher expenses due to continued supply chain disruptions. Consumers also are holding back on nonessential purchases because of rampant inflation. Shares of Target (TGT) plunged 27% in late afternoon trading Wednesday, potentially setting … Read more
The Centers for Disease Control and Prevention (CDC) now recommends Americans who are traveling within the US to get tested for covid in the days leading up to their trip – no matter their vaccine status. It is an update from previous domestic travel guidance, that only recommended people who were not up to date … Read more
Is that all there is? US stocks were back on the downswing in a big way Wednesday, ,more than erasing the previous sessions rally and underlining warnings from some market veterans that sharp rebounds in what has so far been a down year for equities may be little more than the sort of volatile, short-lived … Read more
An aerial view of the Tesla Fremont Factory on May 13, 2020 in Fremont, California. Justin Sullivan | Getty Images The S&P 500 booted electric vehicle maker Tesla from its ESG Index in an annual rebalancing. Meanwhile, Apple, Microsoft, Amazon and even oil and gas multinational Exxon Mobil were included on the list. The S&P … Read more
Structured Finance Association CEO Michael Bright weighs in as home prices skyrocket across the nation on ‘Fox Business Tonight.’ Homebuyer demand for mortgages tumbled last week as the average interest rate on the most popular US home loan hovered near a 13-year high, a sign the red-hot housing market may be starting to cool off, … Read more
The S&P 500 (Environmental, Social and Governance) ESG Index has been rebalanced, and American electric vehicle maker Tesla has been taken off the list. The announcement was made by the S&P Dow Jones Indices in a blog post on Tuesday. The S&P 500 ESG Index is a broad-based, market-cap-weighted index designed to measure the performance … Read more
Speaking to advertisers at the first upfronts pitch by WarnerBros Discovery since its merger, CEO David Zaslav proclaimed it as essentially the fifth US broadcast network and vowed that it would overcome any skepticism about its prospects. “I’m highly confident in our ability to thrive both creatively and financially,” he said. “Our extraordinary people and … Read more