November 16, 20240 Comments

The Fed’s biggest challenge has become the ‘Sasquatch of the financial world’

Listen and subscribe to Stocks in Translation on Apple Podcasts, Spotify, or wherever you find your favorite podcasts. Stocks have surged since the election, while bonds are caught in a tug-of-war between bulls and bears, with participants in both markets attempting to divine the path of the US economy under the incoming Trump administration. At the heart of the matter lies a hotly debated topic that grips Fed economists and

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November 16, 20240 Comments

30-year-old took a pay cut to work for herself—and doesn’t regret it

In 2023, Anna-Marie Ortiz worked remotely for a fintech startup, where she earned $60,000 a year. She liked the job well enough, but wasn’t sure what her future at the company would look like. “I realized I can’t wait around for other people’s dreams, and that’s when I decided to go all in on mine,” she tells CNBC Make It. That July, Ortiz used the last of her $2,000 in

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November 16, 20240 Comments

JPMorgan Chase, Morgan Stanley and Citi Say Raging Bull Market Not Over Yet – Here’s Their Outlook

Several Wall Street banking giants are forecasting blue skies for US equities – at least until 2024 comes to a close. Morgan Stanley chief US equity strategist Mike Wilson tells Bloomberg that he expects the S&P 500 to revisit all-time high levels by the end of the year. But Wilson warns equities will likely see a consolidation period as a new year unfolds. “We’re into the FOMO (fear of missing

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November 16, 20240 Comments

Infamous Crypto Hacker Behind Nearly $11,000,000,000 Bitfinex Exploit Sentenced to Five Years in Prison

The notorious hacker behind the massive $10.934 billion exploit of crypto exchange Bitfinex is being sentenced to five years in prison. According to a new press release by the U.S. Department of Justice (DOJ), Ilya Lichtenstein – who hacked Bitfinex in 2016 and fraudulently sent 119,754 Bitcoin (BTC) to a wallet under his control – has been sentenced to five years for his role in the scheme. Court documents reveal

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November 16, 20240 Comments

Ripple CLO Criticizes Gary Gensler’s Justification For Crypto Lawsuits

Ripple Chief Legal Officer (CLO) Stuart Alderoty has criticized the US Securities and Exchange Commission (SEC) Chair Gary Gensler following his attempt to justify the crypto lawsuits that the Commission has instituted. The Ripple CLO’s statement has come amid speculations that Gensler could soon resign as the SEC Chair. Ripple CLO Criticizes Gary Gensler’s Claim On Crypto Lawsuits In an X post, the Ripple CLO criticized Gensler’s attempt to justify

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November 16, 20240 Comments

MicroStrategy’s $26 Billion Bitcoin Cache Is Larger Than IBM, Nike Cash Holdings

(Bloomberg) — Michael Saylor’s unorthodox decision to hold Bitcoin instead of cash on MicroStrategy Inc.’s books has vaulted the once obscure software maker into the upper echelon of the wealthiest corporations when it comes to financial assets. Most Read from Bloomberg Listen to the Here’s Why podcast on Apple, Spotify or anywhere you listen. The Tysons Corner, Virginia-based firm’s approximately $26 billion Bitcoin cache is larger than the cash and

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