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By Patturaja Murugaboopathy and Chuck Mikolajczak (Reuters) – U.S. dividend funds have faced steep outflows this year after strong inflows last year as investors rush to safer money market funds and bank deposits, providing high returns without much risk. Interest rates on short-tenor bonds have risen this year on expectations that the U.S. Federal Reserve…
By Medha Singh and Lisa Pauline Mattackal (Reuters) – Even as bitcoin flies high, investors are keeping their options open, judging by a record race to derivatives. Open interest for bitcoin options and futures has spiked over the past month as fear has stalked global banking, hitting an all-time high of 433,540 contracts on March…
(Reuters) – U.S. short seller Hindenburg Research said on Friday Block Inc’s response to its allegations confirmed it had reported inflated user counts on its Cash App to investors for years. The payments firm led by Twitter co-founder Jack Dorsey said on Thursday that 44 million of its more than 51 million monthly active customers…
By Lananh Nguyen and Nupur Anand NEW YORK (Reuters) – Bank of America Corp’s digital personal finance tool, Life Plan, has attracted more than $55 billion in new money since its launch in late 2020, as customers use technology to set financial goals. Life Plan, which has more than 10 million users, enables customers to…
By Medha Singh and Lisa Pauline Mattackal (Reuters) – Bullish bitcoin has been a surprise winner of the banking blowout. Yet investors aiming to amp up their bets face an ominous obstacle: a lack of liquidity that could trigger wild price swings. The price of the No.1 cryptocurrency has jumped 40% to around $27,700 since…
By Manya Saini (Reuters) – Shares of Twitter co-founder Jack Dorsey’s Block Inc fell 3% in afternoon trading on Friday, a day after the payments firm’s Cash App business became the latest target of U.S. short seller Hindenburg Research. In a report, Hindenburg alleged that Block overstated its user numbers and understated its customer acquisition…
By Lisa Pauline Mattackal and Medha Singh (Reuters) – As crisis stalks the traditional world of stocks and bonds, bitcoin is suddenly looking like a safe haven. The infamously volatile cryptocurrency seems positively hale and hearty, just as a banking meltdown drives markets into the arms of a recession. Bitcoin has risen 21% this…
By Hannah Lang (Reuters) – The U.S. consumer finance watchdog launched an inquiry on Wednesday to examine companies that track and collect personal data, requesting public feedback about the business models and practices data brokers use. The U.S. Consumer Financial Protection Bureau’s request for information marks the latest move from the regulator to explore how…
(Reuters) – Cryptocurrency token Ether fell to its lowest in two months on Friday after the New York attorney general labeled it a security, bracketing it with assets such as stocks and bonds and fueling fears of a wider regulatory crackdown. New York Attorney General Letitia James on Thursday referred to Ether as a security…
By David Randall NEW YORK (Reuters) – Big declines in holdings including Tesla Inc and 2U Inc are leaving star stock picker Cathie Wood’s flagship ARK Innovation Fund on pace for its worst weekly decline since September as the Federal Reserve appears ready to hike interest rates further. Tesla, the fund’s top holding, is down…
