Square’s CEO, Jack Dorsey, is a big believer in the future of bitcoin. That’s why Square (SQ) has been investing both directly and indirectly in digital currency. The company invested $50.0 million and $170.0 million in bitcoin in the fourth quarter of 2020 and the first quarter of 2021, respectively, doubling down as the price of the digital currency dropped. Meanwhile, Square has been investing in technology that eases bitcoin transactions. For example, its Cash App allows peer-to-peer… Source link

(Bloomberg) — Bitcoin traded above a crucial technical level over the weekend for the first time since early May, after comments from Ark Investment Management LLC’s Cathie Wood and Tesla Inc. Chief Executive Officer Elon Musk helped boost its momentum. The largest cryptocurrency rose above its 50-day moving average on Saturday for the first time since May 12. It rose again Sunday, its fifth consecutive day of gains, to as high as $34,609. Bitcoin had looked to be in danger of further… Source link

(Adds comment from executive) By Helen Coster July 24 (Reuters) – NBC’s broadcast of the Tokyo Olympic Games opening ceremony drew 16.7 million viewers, the smallest U.S. television audience for the event in the past 33 years, according to preliminary data from Comcast-owned NBCUniversal on Saturday. Across all platforms, including NBCOlympics.com and the NBC Sports app, 17 million people watched the ceremony, NBCUniversal said in an email. The streaming audience on those platforms grew 76% from… Source link

As the global oil and gas markets are recovering from the steep sell-off last Monday, threats in the market are not just linked to demand-supply concerns. Cybersecurity specialists reported this week that hackers managed to get access to a large amount of data from Saudi oil giant Aramco. The company has confirmed that around 1TB of (confidential) data was stolen from its servers. According to AP sources, the data has been put on offer on the darknet for a price of $50 million. It is at… Source link

Mortgage rates fell for the 9th time in 13-weeks and for a fourth straight week in the week ending 22nd July Following a 2 basis points decline from the previous week, 30-year fixed rates decreased by 10 basis points to 2.78%. Since 21st April, 30-year mortgage rates had risen just once beyond the 3% mark before the current pullback. Compared to this time last year, 30-year fixed rates were down by 23 basis points. 30-year fixed rates were still down by 216 basis points since November 2018’s… Source link

Tesla, Inc. (NASDAQ: TSLA) recently launched the subscription option for full self-driving. Loup Ventures Managing Partner Gene Munster offered his take on what this means for the company. FSD Can Move The Financial Needle: The subscription option can accelerate FSD adoption, given the cost shifts from $10,000 upfront to $200 per month, or $99 for cars that already have advanced Autopilot, Munster said in the note. This, according to the analyst, is an important step along the long-term path… Source link

GOLDMAN SACHS ASSET MANAGEMENT I bought a fresh place in Yandex N.V. (NASDAQ:YNDX). The institutional investor bought 1.2 million shares of the stock in a transaction took place on 7/08/2021. In another most recent transaction, which held on 6/30/2021, NORDEA INVESTMENT MANAGEMENT AB bought approximately 134.1 thousand shares of Yandex N.V. In a separate transaction which took place on 5/31/2021, the institutional investor, EAST CAPITAL FINANCIAL SERVICES bought 113.1 thousand shares… Source link

(Bloomberg) — In the stock market, the refusal of retail investors to back down from every macro threat has become the only story. When will it end? Judging by the size of all the pools of cash lying around, it could be a while. Among all the economic stories of the pandemic, the one about money piling up in people’s accounts has been the most significant in the stock market, where the S&P 500 just notched its seventh gain in nine weeks. Money market accounts, viewed in some circles as a… Source link

What Happened: Bitcoin (CRYPTO: BTC) is trading higher over multiple days, coming off a July 21 low of 29296.39 to a peak of over 34,000 Saturday July 24, a move of over 15%. Meanwhile, Ethereum (CRYPTO: ETH) is bouncing off a low of 1717.17 on Wednesday to a peak of over 2180 at the time of publication, up over 25% in four days. Why It’s Important: The two leading cryptocurrencies have been range bound since a major correction earlier this year. Bitcoin set an all-time high of 64900 on April… Source link

(Bloomberg) — China unveiled a sweeping overhaul of its $100 billion education tech sector, banning companies that teach the school curriculum from making profits, raising capital or going public. Beijing on Saturday published a plethora of regulations that together threaten to up-end the sector and jeopardize billions of dollars in foreign investment. Companies that teach school subjects can no longer accept overseas investment, which could include capital from the offshore registered… Source link