Voyager Digital suspends trading, deposits, and withdrawals

Voyager Digital suspends trading, deposits, and withdrawals

Canadian crypto broker Voyager Digital (VYGVF) suspended trading, deposits, withdrawals, and loyalty rewards, according to a statement released by the firm Friday afternoon. The decision comes after the firm gave a notice of default to crypto hedge fund Three Arrows Capital (3AC) after it failed to repay over $644 million in borrowed bitcoin (BTC-USD) and … Read more

JPMorgan Chase downgrades three regional banks

JPMorgan Chase downgrades three regional banks

JPMorgan Chase & Co. analysts on Friday downgraded three regional bank stocks and said they’re moving their outlook for the sector to neutral based on rising expectations of a recession as well as more aggressive interest rate hikes from the U.S. Federal Reserve. JPMorgan cut its ratings on Live Oak Bancshares Inc. LOB, +1.24% and … Read more

Micron’s Weak Outlook Crushes Chip Stocks. There’s More Trouble Coming for Tech.

Micron’s Weak Outlook Crushes Chip Stocks. There's More Trouble Coming for Tech.

Text size Dreamstime Almost every analyst on Wall Street knew that the memory chip company Micron Technology was likely to provide quarterly guidance below previous Street estimates. And that’s exactly what happened. Micron’s revenue outlook for the August quarter came in almost $2 billion below the old consensus level. Micron shares are trading sharply lower … Read more

Chinese firm bought farm near US Air Force drone base: report

Chinese firm bought farm near US Air Force drone base: report

A Chinese company’s purchase of farmland in North Dakota just down the road from a US Air Force base that houses sensitive drone technology has lawmakers on Capitol Hill worried about potential espionage by Beijing, according to a report. Fufeng Group, a Shandong, China-based company that specializes in flavor enhancers and sugar substitutes, recently purchased … Read more

FTX signs deal with option to buy BlockFi for up to $240M

FTX signs deal with option to buy BlockFi for up to $240M

Sam Bankman-Fried’s FTX crypto exchange has signed a deal with an option to buy embattled crypto lender BlockFi for up to $240 million, BlockFi Chief Executive Zac Prince said on Friday. FTX has also agreed to provide BlockFi with a $400 million revolving credit facility, Prince said in a tweet. He added that BlockFi has faced a jump in withdrawals after news of … Read more

Stocks and crypto haven’t come close to hitting the bottom yet, hedge funder famous from ‘The Big Short’ says

Stocks and crypto haven’t come close to hitting the bottom yet, hedge funder famous from ‘The Big Short’ says

Michael Burry is best known for predicting the 2008 housing market collapse, and making a killing in the process, but in recent years he’s taken to Twitter to criticize stock valuations, crypto bulls, and overall reckless investor behavior. In June 2021, the Scion Asset Management chief, who Christian Bale portrayed in the 2015 film The … Read more