Bitcoin’s recent recovery could be hanging in the balance as the political deadlock over Kevin Warsh’s nomination to lead the US Federal Reserve deepens, raising fresh concerns about prolonged dollar tightening and the erosion of risk appetite across digital asset markets. Treasury Secretary Scott Bessent has urged the Senate Banking Committee to begin confirmation hearings
The so-called whales were busy during Bitcoin’s crash to a 15-month low of $60,000 as the large investors stepped in to buy the dip. The recovery lifted the cryptocurrency by roughly 17% in a matter of days, and the top cryptocurrency was trading at $69,165 during the time of writing. Data shows the rally followed
Bitcoin treasury company Strategy (formerly MicroStrategy) has added to its already sizable cryptocurrency holdings, acquiring an additional 1,142 Bitcoin for approximately $90 million, according to a regulatory filing released on Monday. In an 8-K filing with the Securities and Exchange Commission, Strategy said the purchases were made between February 2 and February 8 at an
Novo Nordisk’s Denmark-listed shares climbed more than 7%, while the stock gained close to 6% in US premarket trading after telehealth company Hims & Hers said it would stop offering its newly launched oral obesity pill copycat following regulatory scrutiny. Hims & Hers, by contrast, fell nearly 20% in premarket trading. Additionally, Novo Nordisk also
QuantumScape (NASDAQ: QS) shares are electrified today, surging more than 7% in early trading as the company officially inaugurated its much-anticipated “Eagle Line.” This highly automated pilot production facility in San Jose represents what CEO Dr Siva Sivaram has called the company’s “Kitty Hawk moment” – the point where lab innovation finally translates into a
US equities traded lower on Monday as investors turned cautious ahead of a series of closely watched economic releases and another round of corporate earnings, following a volatile week that ended with the Dow Jones Industrial Average reaching a historic milestone. The Dow Jones Industrial Average fell 128 points, or about 0.2%, in early trading.
Elon Musk’s decision to have SpaceX acquire artificial intelligence startup xAI has sent ripples across global financial markets, reviving long-standing speculation about whether his sprawling corporate empire could eventually be consolidated into a single technology conglomerate. The acquisition, announced earlier this week, already comes amid reports that SpaceX is pursuing an initial public offering valued
The software sector is currently weathering a violent storm, characterized by a rapid sell-off that some are calling a “SaaSapocalypse.” The panic intensified this week as AI startup “Anthropic” introduced advanced capabilities to its Claude Cowork agent, fueling fears that traditional software-as-a-service models are on the brink of obsolescence. However, Wedbush’s senior analyst Dan Ives
Tech stocks have struggled in recent days amid fears of overspending on artificial intelligence and a sharp selloff in software and semiconductor names. Apple, however, has emerged as a rare outperformer, bucking the broader downturn and attracting renewed investor interest. Shares of Apple were up about 6% this week as of Thursday morning, making it
The oversupply in the oil market at the beginning of the year is likely to have been sharply lower than previously expected. The International Energy Agency (IEA) has revised its outlook for the global oil market, specifically downgrading its prior expectations concerning the magnitude of the supply surplus. This adjustment was not a recent development