Justice Department announces seizure of Bitcoin, once valued at $3.36 billion

Justice Department announces seizure of Bitcoin, once valued at $3.36 billion

The Justice Department said Monday it had seized cryptocurrency once worth $3.36 billion from a Georgia man who pleaded guilty to stealing bitcoin from the Silk Road online marketplace. The seizure of cryptocurrency, which took place in November 2021 and had not been made public, is the second largest in the history of the Department … Read more

Robinhood cuts losses after falling transaction revenue

Robinhood cuts losses after falling transaction revenue

Net loss at Robinhood HOOD -4.36% Markets fell in the third quarter after a steep decline in costs helped offset falling revenue and lower user numbers. The online brokerage reported third-quarter revenue of $361 million, down 1% year-over-year and a seventh straight quarterly decline. Rising interest rates helped lift quarterly net interest income to $128 … Read more

Hong Kong hails reopening to Wall Street despite Covid controversies, typhoon

Hong Kong hails reopening to Wall Street despite Covid controversies, typhoon

Hong Kong’s attempt to welcome back global investors with a flagship summit was overshadowed by the controversial handling of a top local official’s Covid-19 test result, a typhoon and a lack of debate on how coronavirus restrictions have dented investor confidence in both Hong Kong and Hong Kong. mainland China. Some of Wall Street’s top … Read more

The Feds don’t want you to bet on elections

The Feds don’t want you to bet on elections

The Commodity Futures Trading Commission has moved to shut down PredictIt, an online marketplace for futures contracts on the outcome of political events, effective February 15, 2023. This is a blow to investors in these contracts, such as those on the 2024 presidential election, which are left uncertain as to how their positions will be … Read more

Where are the markets headed? Six professionals take their best guess

Where are the markets headed?  Six professionals take their best guess

A massive sell-off of bonds. A dive into tech stocks. The implosion of cryptocurrencies. The highest inflation in four decades. Amid a brutal and uncertain climate, we asked six financial heavyweights to share their thoughts on the state of the market, how they’ve dealt with this year’s carnage, and what they expect going forward. Market … Read more

SEC favors midpoint prices on investor stock trades in rule review

SEC favors midpoint prices on investor stock trades in rule review

The Securities and Exchange Commission’s planned overhaul of stock trading rules seeks to ensure that small investors get better prices when buying or selling stocks. One of the SEC’s goals is to increase the likelihood that investors will get the midpoint price on trades — halfway between the publicly displayed bid and ask price — … Read more

Brittney Griner’s appeal rejected by Russian court

Brittney Griner’s appeal rejected by Russian court

MOSCOW – A Moscow regional court upheld the drug conviction of American basketball star Brittney Griner, paving the way for the two-time Olympian to serve nine years in a penal colony for possession and trafficking of less than a gram of hashish oil. The court, which heard Ms. Griner’s appeal on Tuesday, had the option … Read more

Saudi conference draws Wall Street leaders amid strained relations with US

Saudi conference draws Wall Street leaders amid strained relations with US

RIYADH, Saudi Arabia – International business leaders sidestepped a diplomatic spat between the United States and Saudi Arabia and converged on the Saudis’ flagship investment conference in a kingdom riding high on an oil price boom and seeking to flex its geopolitical soft power. Hundreds of American leaders descended on the Ritz-Carlton hotel for the … Read more

18 Great Deals From Best Buy’s Early Black Friday Sale (2022)

18 Great Deals From Best Buy’s Early Black Friday Sale (2022)

While it’s on its way too early to talk about Black Friday, it’s at least objectively cooler to associate the phrase with Halloween than Thanksgiving. So we’ll forgive Best Buy for starting the sale a month early. Luckily, that also means you’ve got extra time to score deals on a ton of electronics from the … Read more

A Brittney Griner prisoner trade could create a two-for-two deal with Russia

A Brittney Griner prisoner trade could create a two-for-two deal with Russia

WASHINGTON — Ahead of Brittney Griner’s appeal Tuesday of a nine-year sentence on drug charges, the women’s basketball star’s hopes of returning to the United States soon still hinge on a prisoner exchange, not the legal process. Instead, the negotiations for her return to the United States revolve around several other people. One is another … Read more