Funds

Voyager customer lost $1 million saved over 24 years and is one of many now desperate to recoup funds

Voyager said it has roughly $1.3 billion of crypto on its platform and holds over $350 million in cash on behalf of customers at New York’s Metropolitan Commercial Bank. Justin Sullivan | Getty Images During a five-hour Chapter 11 bankruptcy hearing earlier this month for crypto firm Voyager Digital, a customer named Magnolia was the …

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Crypto hedge fund’s collapse leaves behind angry lenders and a $150 million “Much Wow” yacht

The now bankrupt Three Arrows Capital (3AC) presented signs of mismanagement before the cryptocurrency hedge fund’s ultimate collapse. A report from New York Magazine reveals that 3AC co-founders Kyle Davies and Su Zhu faced criticism from banks and other traders before the company even entered the crypto market. In its early days, the Singapore-based 3AC …

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Here’s the big concern with chip makers scoring billions in funds from Uncle Sam

On the day that Congress finally passed a long-awaited funding package for domestic U.S. chip production, Intel Corp. slashed $4 billion from its spending plans while detailing disappointing earnings that one analyst called “the worst we have seen in our career.” On Tuesday, when President Biden signed that bill into law with Micron Technology MU, …

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BlackRock warns investors should buy defensive stocks and bonds as tech-led rally at risk of fizzling

Following July’s spectacular rally, U.S. stocks SPX, -0.42% have been caught in a tight trading range over the past two weeks as investors struggle to make sense of some of the most confounding economic data in recent years. But while the S&P 500 index has held above the key 4,000 level thanks largely to a …

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The red flag that preceded a halving of global equities in 2000 and 2007 is back, warns Citi

We are a day away from data that could prove a turning point for markets. If Wednesday’s CPI doesn’t reveal some slowing in prices, expectations will rise for a bigger Fed rate hike in September, possibly knocking stocks. But if it swings the other way, especially after surprisingly good jobs data, the view that things …

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Why the S&P 500’s ‘bounce within a bear market’ could fizzle before it hits 4,200

Add another voice to the growing chorus of naysayers about the staying power of the recent rally in U.S. equities. The stock market’s rally since the Federal Reserve’s last jumbo rate hike in late July looks increasingly out of sync with macro fundamentals, particularly the roaring U.S. labor market, economists at Mizuho Securities warned on …

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Buy PayPal Stock. The Battered Payments Company Is Starting to Perk Up.

Anyone who bought PayPal Holdings stock last summer may be ruing the day. Despite popping a bit this past week, the shares, at $97, are still off 68% from their highs around $308. Memories of the stock’s skid in February, when it fell 35% over two days, may still be uncomfortably fresh in investors’ minds. …

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New Buyback Tax Will Force Companies to Think Twice on How to Use Cash

In the scrap over how to fund President Joe Biden’s spending plans, the Democrats’ focus has shifted from taxing private funds to public at the last minute. Sen. Kyrsten Sinema (D., Ariz.) backs dropping a proposed tax increase on carried interest income and adding a 1% tax on stock buybacks to the legislation. It means …

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Hacked crypto startup Nomad offers a 10% bounty for return of funds after $190 million attack

Over $2 billion has been stolen from cross-chain bridges so far this year, according to crypto analysis firm Chainalysis Jakub Porzycki | Nurphoto via Getty Images Crypto company Nomad said it’s offering hackers a bounty of up to 10% to retrieve user funds after losing nearly $200 million in a devastating security exploit. Nomad pleaded …

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PayPal earnings packed in much more than just numbers

After seeing its shares lose roughly two-thirds of their value in the past year, PayPal Holdings Inc. delivered a packed earnings report Tuesday, announcing a new chief financial officer, buyback authorization and cost-savings program, while also confirming that activists at Elliott Management Corp. have taken a stake in the company. Additionally, the company topped expectations …

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