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Square’s (SQ) is acquisition of Australian buy now, pay later (BNPL) company Afterpay for $29 billion is an indication of a rapidly growing industry, according to one rival firm’s chief executive. “At this point of time, everything is about momentum, you may describe it almost like a land grab currently,” Klarna CEO Sebastian Siemiatkowski told Yahoo Finance Live (video above), later adding: “I think that there will be one or two more years of that before the market stabilizes slightly, and… Source link

The latest congressional infrastructure bill, which includes provisions on the regulation of crypto assets, could help legitimize cryptocurrencies within the mainstream financial community, says MoffettNathanson Partner Lisa Ellis. “What’s been holding up the crypto ETFs is that the SEC has very stringent requirements for things like liquidity, transparency, price stability,” Ellis said. “[There are] very well-established rules when it comes to stock investing,” she said. “Those same… Source link

John King knew his small town of Rockdale, Texas, had landed on the global crypto map when three Chinese bitcoin miners showed up at City Hall unannounced this summer. Then came the phone calls to the city’s Chamber of Commerce, from investors asking about power hookups, to connect mining equipment they planned to ship from China. None had ever stepped foot inside the rural West Texas community, with a population of roughly 5,600 people. “I didn’t have any inkling [about what was happening… Source link

Robinhood (HOOD) soared to new highs on Tuesday in a stark contrast from its public debut last week. The investing platform’s stock spiked as much as 18% by mid-session. Shares were trading above $44 a piece, holding well above their IPO price of $38.  Investors are keeping a close eye on the stock following Robinhood’s public debut last Thursday.  The stock sank as much as 12% below its IPO price during its first day of trading on the Nasdaq. Shares closed down 8% that day. Some questioned… Source link

New York City’s new vaccination mandate is sending restaurant and gym stocks lower. Shares of Shake Shack (SHAK), Starbucks (SBUX), McDonalds (MCD) and Planet Fitness (PLNT) all dipped following news that the Big Apple will require proof of vaccination in order to eat inside or use indoor work-out facilities. Both workers and customers will need to show vax ID cards in order to enter restaurants or fitness facilities. “If you want to participate in our society fully, you’ve got to get… Source link

As the highly transmissible Delta variant spreads rapidly nationwide, the U.S. has “two weapons” to mitigate the outbreak, according to One Medical Regional Medical Director Dr. Natasha Bhuyan. “We have two key weapons in fighting this virus: one is masks, the other is vaccines” Dr. Natasha Bhuyan told Yahoo Finance Live. “If we can get our vaccination rates up, we will be able to slow down the spread of the virus. But until then, it’s important that even people who are fully… Source link

Capitol Hill negotiators released their 2,702 page bipartisan infrastructure bill on Sunday night after a flurry of revisions over the weekend. One of the more significant last-minute edits concerns cryptocurrencies. The late addition aims to use the infrastructure bill to bring clarity to the way Americans report their digital assets – like bitcoin (BTC) or ethereum (ETH) – for tax purposes.  The measure could bring in billions in revenue, but “this is not a new tax on… Source link

The recent increase in coronavirus cases in the U.S. amid ongoing vaccine hesitancy has led to many public health officials calling for states to reconsider their relaxation of COVID restrictions. This comes as the U.S. continues its push to get more Americans vaccinated, as 58.1% of those at the age of 12 and older are fully vaccinated, according to CDC data, and 67.6% have received at least one dose. (Herd immunity is estimated to occur when 75% of any community has immunity.) “We have… Source link

In this article, we discuss the 10 stocks Reddit’s WallStreetBets is buying for post-earnings gains. If you want to skip our detailed analysis of these stocks, go directly to Reddit’s WallStreetBets is Buying these 5 Stocks for Post-Earnings Gains. Retail investors who use internet forums like Reddit and StockTwits to outline their market strategy have been investing heavily in companies that are expected to post their earnings results for the second quarter in the coming days. These… Source link

(Bloomberg) — Tencent Holdings Ltd. dived as much as 11% Tuesday after an offshoot of China’s official news agency decried the “spiritual opium” and “electronic drugs” of games, prompting the country’s largest corporation to declare the possibility of banning kids under the age of 12 from playing altogether. The twin developments stoked fears Beijing will next set its sights on online entertainment after reining in the e-commerce, ride-hailing and online education industries…. Source link