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World’s Largest Banks Losing Stock Value During Weeks Marked by Pandemic

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The spreading coronavirus infection is taking a toll on the global economy and traditional financial institutions are already hurting. The world’s largest banks have seen their stocks losing value over the past weeks and months while facing cash withdrawal pressure and preparing to deal with a shrinking asset base. Also read: US Cash Crisis: Withdrawal … Read more

Bitcoin Trust GBTC Shares Spike Despite 30% Premium

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Bitcoin and cryptocurrency prices have seen significant gains as the entire cryptoconomy is up more than 40% since mid-December. Grayscale’s Bitcoin Trust (GBTC) has also seen an uptick and shares have climbed 9% this week. The news follows the asset manager’s recent registration as a reporting company with the Securities and Exchange Commission (SEC) and … Read more

Fear Grips Stock Market Traders While Cryptocurrency Investors Become Greedy

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The clash of two emotions, fear and greed, is said to determine investors’ sentiment. This ratio draws a historical picture of the market and it’s also an indicator of its future state. As an established trend, traditional investments such as stocks and digital assets like cryptocurrencies often move in opposite directions. The beginning of 2020 … Read more

China Stocks Plummet Despite 1.2 Trillion Yuan Injection to Mitigate Effects of Epidemic

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China’s stock market plunged Monday under selling pressure accumulated during a prolonged holiday. Investors have been worried by the coronavirus outbreak that’s already taken the lives of more than 360 people. Beijing authorities have responded by pumping well over a trillion yuan into the country’s economy and financial system. Also read: China’s Inflation Hits a … Read more

6 Bankers Accused of Earning €30M in Bonuses From German Fraud, Tax Lawyer Out on €4M Bail

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Former bank employees have received bonuses worth millions of euros in an illegal trading scheme that also involved a tax lawyer, prosecutors in Frankfurt revealed this week. The case is part of multiple investigations carried out across Germany, the hardest hit country in a notorious tax fraud scandal known as the Cum-ex Files. Also read: … Read more

Mining Giant Canaan Faces Stiff Competition After IPO Shares Slump

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On November 21, the Chinese mining rig manufacturer Canaan Inc. launched its initial public offering (IPO) sale of $90 million worth of U.S. shares. Canaan shares initially sold for $8.99, but plummeted over 48% on December 16 to $4.65 per share. Since then, Canaan has launched a series of five new mining rig batches that … Read more