BlockFi, the Peter Thiel-backed crypto start-up, cuts 20% of its staff as bitcoin plunges
Popular crypto lender BlockFi is cutting around 20% of its staff after the “dramatic shift in macroeconomic conditions.”
JPMorgan’s trading guru Kolanovic says the market will recover losses to finish year flat
Top Wall Street strategist Marko Kolanovic is sticking by his guns amid sharp market sell-off, seeing the S&P 500 to rebound and finish 2022 flat.
Latest Shanghai quarantines add more pressure to global supply chain
The latest mass quarantine measures in Shanghai, including highway closures, severely affected trucks carrying exports bound for the city’s port.
Warren Buffett’s son donates $2.7 million for Ukraine aid after meeting with Zelenskyy
Howard Buffett is donating millions of dollars from his foundation in support of Ukraine after meeting with President Volodymyr Zelenskyy.
Former AG Barr says Trump would not listen when he told him election fraud claims were false
Donald Trump’s former Attorney General gave extensive testimony about the efforts he made to convince his former boss that the 2020 election was not stolen.
FAA requires SpaceX to make environmental adjustments to move forward with its Starship program in Texas
The decision means SpaceX can next request a license from the regulator to conduct further Starship flight tests and begin operational launches from its private facility.
History says these stocks still aren’t cheap despite big market sell-off
These stocks are falling, but still trading above their historical price-to-earnings ratios.
Charles Schwab to pay $187 million to settle SEC charges that it misled robo-advisor clients on fees
The Securities and Exchange Commission alleged the firm didn’t disclose a “cash drag” to clients of Schwab Intelligent Portfolios.
Bitcoin could be leading equity markets lower as crypto is gauge of investors’ overall risk appetite
Bitcoin dropped more than 10% on Monday, and that could be a bad sign for stocks.
Recession could hit this year so buy defensive dividend stocks, Wolfe Research says
Analysts believe a recession could turn up as early as the fourth quarter, though they maintained that their base case is for a downturn that will hit in 2023.