Cryptocurrency luna crashes to $0 as UST falls from peg; bitcoin rises

Cryptocurrency luna crashes to $0 as UST falls from peg;  bitcoin rises

Bitcoin staged a rebound on Friday, jumping above $30,000 despite the ongoing woes of stablecoin TerraUSD which has caused panic in the crypto market. The world’s largest cryptocurrency bitcoin was trading at around $30,262.85 at 4 am ET on Friday, according to CoinGecko data, up 8% in the last 24 hours after it dropped to … Read more

Terra Collapse Teaches About ‘Crypto’ And Bitcoin

Terra Collapse Teaches About 'Crypto' And Bitcoin

Terra is crumbling. The blockchain project home to the popular algorithmic stablecoin TerraUSD (UST), which had recently become the fourth-largest stablecoin by market value but now sits at fifth, is near collapse as UST repeatedly fails to sustain its $1 peg and LUNA, the blockchain’s native token, near zero. Terraform Labs, the tech start-up behind … Read more

Stock futures are flat with S&P 500 teetering on edge of a bear market

Stock futures are flat with S&P 500 teetering on edge of a bear market

Stock futures were little changed on Thursday evening as investors geared up for the S&P 500 to potentially slide into official bear market territory. Futures tied to the Dow Jones Industrial Average shed 9 points, or less than 0.1%. S&P 500 futures and Nasdaq-100 futures were marginally higher. On Wednesday, the S&P 500 and Dow … Read more

Robinhood shares pop more than 20% after Sam Bankman-Fried buys 7.6% stake

Robinhood shares pop more than 20% after Sam Bankman-Fried buys 7.6% stake

Sam Bankman-Fried, CEO of FTX US Derivatives, testifies during the House Agriculture Committee hearing titled Changing Market Roles: The FTX Proposal and Trends in New Clearinghouse Models, in Longworth Building on Thursday, May 12, 2022. tom williams | CQ-Roll Call, Inc. | Getty Images Sam Bankman-Fried, the CEO of crypto exchange FTX, has taken a … Read more

Federal Reserve Chair Jerome Powell confirmed by Senate for a second term

Federal Reserve Chair Jerome Powell confirmed by Senate for a second term

Federal Reserve Chairman Jerome Powell speaks at a news conference following a Federal Open Market Committee meeting on May 04, 2022 in Washington, DC. Powell announced the Federal Reserve is raising interest rates by a half-percentage point to combat record high inflation. Win Mcnamee | Getty Images As he and his colleagues engage in a … Read more

Carvana, GameStop, AMC, General Motors and more

Carvana, GameStop, AMC, General Motors and more

Check out the companies making headlines in midday trading Thursday. Carvana — Shares of the online used-car retailer popped nearly 30%, alongside other heavily shorted stocks. Nearly 29% of Carvana shares available for trading are sold short, according to FactSet. The company has faced negative sentiment on Wall Street recently, with downgrades this month from … Read more

Ford, General Motors, Tapestry and more

Ford, General Motors, Tapestry and more

Take a look at some of the biggest movers in the premarket: Ford (F), General Motors (GM) – Ford fell 2.8% in premarket trading while GM slid 3.4% after Wells Fargo double-downgraded both stocks to “underweight” from “overweight.” Wells Fargo said 2022 could represent a profit peak for legacy automakers, with the shift toward electric … Read more

Bitcoin (BTC) price falls below $27,000 as crypto sell-off intensifies

Bitcoin (BTC) price falls below $27,000 as crypto sell-off intensifies

Bitcoin plunged further below the $30,000 mark as investors fled cryptocurrencies. Jaap Arriens | NurPhoto | Getty Images Bitcoin slumped below $27,000 Thursday for the first time in over 16 months, as cryptocurrency markets extended losses amid fears over rising inflation and the collapse of a controversial stablecoin project. The price of bitcoin plunged as … Read more

Roblox CEO David Baszucki says bookings are turning around

Roblox CEO David Baszucki says bookings are turning around

Roblox CEO David Baszucki told CNBC on Wednesday that the company is seeing its bookings recover in April after the company said earlier this week that they declined 3% in the March quarter. Bookings are how the company describes sales of its virtual currency, Robux, which players use to buy digital items such as avatars … Read more

Wendy’s, Krispy Kreme, Perrigo and more

Wendy's, Krispy Kreme, Perrigo and more

Check out the companies making headlines before the bell: Wendy’s (WEN) – Wendy’s reported adjusted profit of 17 cents per share, 1 cent below estimates, with revenue and same-store sales also missing analyst forecasts. The restaurant chain is seeing a negative impact from higher costs for supplies and labor, and its shares slide 3.4% in … Read more