Investment advisors could overtake hedge funds as the largest holders of US-listed spot bitcoin (BTC) exchange-traded funds (ETFs) next year, CF Benchmarks said on Monday. Investment advisors could have more than 50% of the BTC and ETH ETF market next year, according to CF Benchmarks.
The Federal Reserve Bank of New York is likely to cut its interest rate target further as inflationary pressures continue to cool, its president said on Monday. "Monetary policy remains in restrictive territory to support a sustainable return of inflation to its 2 per cent objective," Mr. Williams said in a speech at a meeting of the Queens Chamber of Commerce in New York. Looking ahead, "I expect a continued shift to more neutral policy setting will be appropriate over time," Mr. Williams said.
The Securities Exchange Commission said Monday that cryptocurrency miner BIT Mining has agreed to pay a $4 million fine to settle the commission's allegations that it was involved in a scheme to bribe Japanese officials. The Securities Exchange Commission alleged that BIT Mining Ltd. (formerly known as 500.com Limited) paid $2.50 million in cash bribes and gifts between 2017 and 2019, including to Japanese lawmakers, in an attempt to win a bid to open a casino resort in Japan. In a parallel oper...
The US Treasury said Monday that it plans to borrow $546 billion in the fourth quarter of this year, $19 billion lower than expected in July. The cash balance is expected to be $700 billion at the end of December, the Treasury said in a statement. The cash balance is expected to be $850 billion at the end of March 2025 and $823 billion in Quarter 1 2025. The Treasury issued $762 billion in net debt in the third quarter and had a cash balance of $866 billion as of the third quarter.
Ripple co-founder and executive chairperson Chris Larsen said Monday that he has donated an additional $10 million of XRP to support Vice President Harris' bid for U.S. President. The New York Times reported on Sunday that Larsen donated $10 million to Future Forward, a prominent Democratic political action committee, during a record fundraising quarter for the Harris campaign and related organizations. Larsen confirmed the report on Twitter, noting that the donation was in the form of XRP.
Apple (AAPL. O) said on Monday that the AI models underpinning its artificial intelligence system, Apple Intelligence, were pre-trained on processors designed by Google (GOOG. O), in a sign that big tech companies are looking beyond NVIDIA (NVDA. O) when it comes to training cutting-edge artificial intelligence. In a technical paper published by Apple, the company detailed that it chose Google's homegrown tensor processing unit (TPU) for training, and on Monday, Apple released a plan for some de...
Investment bank TD Cowen said Monday that a recent U.S. Supreme Court ruling overturning the Chevron principle could complicate crypto legislative efforts. The report said: "Following the Supreme Court's action, the ruling was widely seen as favoring the cryptocurrency industry. We partially agree with this view, as it will help crypto...