FBN’s Charles Payne, FBN contributor Anthony Scaramucci, Tea Party News Network News Director Scottie Nell Hughes and Penn Financial Group founder Matt McCall on the government and private sector money invested into the Ivanpah Solar Power Plant.
FBN’s Charles Payne, FBN contributor Anthony Scaramucci, Tea Party News Network News Director Scottie Nell Hughes and Penn Financial Group founder Matt McCall on the government and private sector money invested into the Ivanpah Solar Power Plant.
With his cult following, Tesla boss Elon Musk has amassed considerable power to move markets with his musings, but murky rules make it difficult for regulators to rein him in. The celebrity CEO, who boasts more than 54 million Twitter followers and has a devoted constituency on Reddit, has whipsawed the cryptocurrency market and sent some stocks soaring this year with a series of tweets and business announcements. A Musk tweet on Wednesday that Tesla would no longer accept payments in bitcoin sent the cryptocurrency tumbling 17%, roiling bitcoin futures and dragging down the broader cryptocurrency market.
(Bloomberg) -- The U.K.’s fraud prosecutor opened a probe into Sanjeev Gupta’s GFG Alliance over suspicions of fraud and money laundering, causing a potential lender to the group to withdraw from agreements to provide new financing.The Serious Fraud Office is investigating “suspected fraud, fraudulent trading and money laundering in relation to the financing and conduct of the business,” according to a statement. The probe includes the financing arrangements with Greensill Capital UK Ltd. The SFO has been looking at GFG since Greensill’s collapse in March and decided to open a formal probe, according to a person familiar with the investigation.As a result, White Oak Global Advisors LLC is pulling out of discussions to provide loans to Gupta’s businesses. “As with any regulated financial institution, we are not in a position to continue discussions with any company that is under investigation by the Serious Fraud Office for money laundering,” a spokesperson for the group in London said.The Financial Times first reported that White Oak was pulling out of financing talks. A representative for GFG declined to comment on White Oak’s decision. Last week, Bloomberg reported Gupta had agreed a 200 million pound ($282 million) facility with the San Francisco-based lender to provide working capital to his U.K. steel businesses. He had also secured the refinancing of one of his Australian units.It’s a massive setback for the tycoon, who appeared to be just on the cusp of securing a lifeline for his beleaguered metals empire. He now faces the extremely difficult task of negotiating new loans while being subject to a fraud probe.Prosecutors are starting to round in on both Gupta and Greensill, after months of scrutiny from lawmakers and the media over its financing practices. Earlier this week, the U.K. Financial Conduct Authority said it was also investigating Greensill and cooperating with counterparts in other U.K. enforcement and regulatory agencies.It’s also working with German, Australian and Swiss authorities. The FCA and SFO probes are completely separate although inevitably will involve cross-over and information sharing, according to the person familiar with the investigation.Read More: Lex Greensill Says His Investors Knew What They Were Buying“GFG Alliance will co-operate fully with the investigation,” a GFG spokesperson said. Grant Thornton, Greensill’s administrators, declined to comment.While the SFO has collected billions in fines in recent years from companies with deferred prosecution settlements, its track record in the criminal courts is patchy. Last month a trial into two Serco Group Plc directors collapsed and the agency lost a mammoth case against Barclays Plc bankers in 2020.GFG has come under the microscope after the collapse of Greensill Capital in March revealed it had been a recipient of financing based on expected future invoices, for sales that were merely predicted.What has also come to light is the activities of the tycoon’s trading business Liberty House Group. Four banks stopped working with the company, starting in 2016, after they became concerned about what they perceived to be problems in paperwork provided by Liberty, Bloomberg News reported.Read More: As Gupta Rose From Trader to Tycoon, Several Banks Backed AwayGreensill was Gupta’s largest source of financing before its collapse. The London-based lender supplied billions of dollars in loans to GFG, many of which were packaged and sold onto investors in funds run by Credit Suisse Group AG. Greensill fell into administration after a key insurance partner didn’t renew coverage on loans made to some of its customers, including GFG.Much of the financing extended to GFG by Greensill was from the finance firm’s German banking unit. Germany’s financial watchdog shuttered Bremen-based Greensill Bank AG and asked law enforcement officials to investigate accounting irregularities at the lender in March. The bank was closed after the lender identified problems in how Greensill Bank booked assets tied to Gupta’s companies.The announcement of the probe came a day after former Prime Minister David Cameron was grilled by lawmakers over his employment by Greensill. He defended his intensive lobbying on behalf of the firm as part of a parliamentary inquiry that’s raised questions over private dealings at the top of the British government.(Updates with detail of White Oak talks collapsing.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
(Bloomberg) -- Ant Group Co.’s profit rose to $3.4 billion in the December quarter after Chinese regulators thwarted its record initial public offering and told it to scale back its sprawling business.Billionaire Jack Ma’s fintech giant contributed nearly 7.2 billion yuan to Alibaba Group Holding Ltd.’s earnings, a company filing showed Thursday. Based on Alibaba’s one-third stake in Ant, that translates to 21.8 billion yuan ($3.4 billion) in profit, up 50% from 14.5 billion yuan in the previous three months. Ant’s earnings lag one quarter behind Alibaba’s. Ant declined to comment.The tally underscores the earnings powers Ant boasted before authorities demanded China’s largest fintech company fold its financial business into a holding company, curtailing its growth prospects. Regulators have issued a battery of proposals that threaten to curb Ant’s dominance in online payments and scale back its expansion into consumer lending and wealth management.While Chairman Eric Jing has promised staff that the company will eventually go public, it’s likely to be worth much less than before the crackdown that saw the IPO halted in November. Fidelity Investments halved its valuation estimate for Ant to about $144 billion in February, compared with $295 billion assigned in August.Ant isn’t alone in facing the clampdown. The government imposed wide-ranging restrictions on the financial divisions of 13 companies including Tencent Holdings Ltd. and ByteDance Ltd. Units of JD.com Inc., Meituan and Didi Chuxing were also among companies summoned to a meeting where regulators handed out stricter compliance requirements in April.The company’s affiliate Alibaba reported its first loss in nine years, vowing to hike spending for expansion next year in technology and community commerce.(Updates with Alibaba profit details in last paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
The British pound initially shot higher during the trading session on Friday but has been a bit noisy in the process of breaking above the hammer from the previous session.
(Bloomberg) -- When it comes to investing their own money to tackle climate-change or promote better corporate governance, European Central Bank officials are decidedly average.Members of the ECB’s Governing Council and Supervisory Board keep nearly half of their private investments in assets that rank “average” or “laggard” on a sustainability scale devised by MSCI Inc., according to an analysis by Bloomberg News of publicly available declarations of interest.A quarter of the fund or equity securities owned by the policy makers are considered “leaders” in environmental, social and governance criteria, or ESG. More than a quarter were unrated.The results highlight the challenge of shifting the financial industry toward greater action on climate change and other goals such as corporate gender balance or labor rights, even by committed professionals. The process of divesting from companies that harm the environment or assessing compliance with social targets is messy and takes time -- as evidenced by Bill Gates’ long exit from fossil fuels.ECB President Christine Lagarde has voiced support for the European Union’s efforts to transition to a more climate-friendly economy and has promoted gender parity in the workplace since taking over leadership of the institution in 2019.“The shift to net-zero emissions, together with an adequate digital backbone, will require major investments across Europe in technology, infrastructure and networks,” Lagarde said on May 6, while calling for more regulatory action to support sustainable finance.An ECB spokesman declined to comment on the officials’ portfolios.Ratings that assess resilience to environmental, social or governance risks can offer indications on sustainability for investors, but they are also relatively new and suffer from a lack of comparable data. Lagarde and other officials have said that the difficulty of measuring climate and other risks impedes the use of such ratings to measure change in the industry.Own PortfolioWhile the ECB is still debating to what extent it can justifiably integrate climate goals into its monetary policy, officials have pledged to increase exposure to green investments in the “own funds” portfolio it uses to generate income for operating expenses.When it comes to officials’ private investments, the disclosures reveal few securities that directly tackle the range of concerns embodied in ESG ratings. MSCI’s metrics measure the resilience of companies and funds to long-term, industry-specific ESG risks, with ratings ranging from leader (AAA, AA), average (A, BBB, BB) to laggard (B, CCC).For instance, Executive Board member Isabel Schnabel holds 11 assets that fall into MSCI’s ESG “leader” category -- including shares in Microsoft Corp. and SAP SE -- and 27 that are rated average.Schnabel has one of the most extensive portfolios of all the Governing Council members, and has talked about the need to diversify investments. In a podcast released on May 12, she also said her thinking about how central banks should deal with with the environmental threat has changed.“Once one appreciates how important the financial sector is for this green transition, one has to admit that we as central bankers have to think about our role in the fight against climate change,” she said.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
(Bloomberg) -- Discover what’s driving the global economy and what it means for policy makers, businesses, investors and you with The New Economy Daily. Sign up here.Christopher Waller on Thursday became the latest Federal Reserve governor to try and dampen expectations for central bank action to curb rising prices that he sees as “temporary.”Waller, the third governor to speak this week, said that while inflation above the Fed’s 2% goal may last through 2022, it’s unlikely to be sustained. The comments echo those by Lael Brainard on Tuesday and Vice Chair Richard Clarida on Wednesday as Americans vex over rising prices. Several regional Fed presidents have delivered a similar message, including Richmond’s Thomas Barkin earlier on Thursday.“Despite the unexpectedly high CPI inflation report yesterday, the factors putting upward pressure on inflation are temporary, and an accommodative monetary policy continues to have an important role to play in supporting the recovery,” Waller told a virtual event hosted by the Global Interdependence Center. “We will not overreact to temporary overshoots of inflation.”Fed officials want to drive home the message that inflation spikes are transitory to counter criticism their ultra-easy monetary policy is making matters worse, as concern mounts on both Wall Street and Main Street. A report Wednesday showed consumer prices rose in April by the most since 2009. Prices paid to U.S. producers also increased by more than forecast last month.Officials will need to see several more months of economic data -- including the May and June labor-market figures -- before being able to fully judge the strength of the recovery, Waller said. That suggests it would be premature to discuss scaling back the Fed’s massive bond-purchase program at its June 15-16 meeting, in his view. The June employment report is released July 2.“The May and June jobs report may reveal that April was an outlier, but we need to see that first before we start thinking about adjusting our policy stance,” Waller said, referring to the weaker-than-expected employment data last month.Waller listed six things contributing to higher inflation readings: Base effects, or the comparison of prices this year to last year’s pandemic-depressed readings, higher energy costs, fiscal stimulus, spending of accumulated savings, supply bottlenecks and increased demand for workers, which is driving up wages.These will pressure price growth to rise above the Fed’s 2% goal this year and next year, Waller said, but inflation will return to target after that. He said inflation could reach 2.25% to 2.5% in 2021 and 2022, though sustained monthly surges to 4% would be a concern.The median Fed forecast calls for prices to rise to 2.4% this year as the economy reopens and pandemic concerns recede amid widening vaccine distribution. Policy makers see inflation falling back to their 2% goal next year.The Fed is backing its forecast to justify ultra-easy monetary policy that projects interest rates near zero through 2023, plus a vow to maintain asset purchases at $120 billion a month until it sees “substantial further progress” on employment and inflation.Taper TalkBut price increases have some investors betting that the Fed will need to scale back its bond buying sooner rather than later. Chair Jerome Powell and his colleagues have said it’s too early to start talking about tapering.St. Louis Fed chief James Bullard, speaking separately on Thursday, said “it’s too early to talk about taper because the pandemic is still going on.”Fed communication over asset purchases is risky. Former New York Fed chief William Dudley, recalling the taper tantrum of 2013 when financial markets were roiled by unexpected news the central bank was thinking of scaling back bond purchases, warned that it risks a re-run.“Sometime, probably later this year, the Fed is going to have to start to hint that we’re now moving away from maximum monetary policy stimulus. It’ll be very interesting to see how financial markets react,” he told the Council on Foreign Relations Thursday. “If that reaction is severe enough, that could actually affect the trajectory of monetary policy.” Dudley is a Bloomberg Opinion columnist.The economy has shown signs of a strengthening recovery in recent months, but some data have disappointed. Employers added 266,000 jobs in April, far short of the nearly 1 million increase expected by economists, data on Friday showed. Fed officials have said they are looking for multiple months of strong data when evaluating the trajectory of the recovery.‘Outcome Based’“We have said our policy actions are outcome-based, which means we need to see more data confirming the economy has made substantial further progress before we adjust our policy stance, because sometimes the data does not conform to expectations, as we saw last Friday,” Waller said.Waller said that several measures of employment are still depressed, namely the unemployment rates for Black and Hispanic workers, and the percentage of the population that is employed. But other indicators are back to normal: Job openings and the quits rate.“The economy is ripping, it is going gangbusters,” Waller said. “But we need to remember that it is coming out of a deep hole, and we are just getting back to where we were pre-pandemic.”(Updates with Bullard in seventh paragraph from bottom.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
According to at least one analyst, the weak Disney+ subscriber additions were the key catalyst for Wall Street's negative reaction to Disney's Q2 results.
(Bloomberg) -- Greiner AG, an Austrian plastics maker, is preparing a takeover offer for Recticel SA valuing the Belgian foam company at about 754 million euros ($915 million), a person with knowledge of the matter said.Greiner is buying Cie. du Bois Sauvage SA’s 27% stake in the company for 13.50 euros per share and plans to offer the same price to other investors, according to the person, who asked not to be identified because the information is private. The Austrian firm is seeking a majority stake in Recticel and aims to keep its listing on the Euronext Brussels exchange, the person said.It’s seeking to gain acceptances from shareholders holding at least 50% of the company’s voting rights plus one share, according to the person.Recticel shares have risen 41% in Brussels trading this year, giving the company a market value of 844 million euros. The planned offer represents a 10.7% discount to Recticel’s closing price of 15.12 euros on Thursday, when the shares rallied 14%.Cie. du Bois Sauvage and Recticel were both halted from trading on Friday, pending statements. Representatives for Greiner, Cie. du Bois Sauvage and Recticel didn’t immediately respond to requests for comment.Recticel makes foams for everything from construction to bedding and automotive. The company has received takeover interest before. In 2019, the Belgian company rejected an offer from Irish insulation maker Kingspan Group Plc for just two of its units. At the time, it signaled it would be open to considering an offer for the whole company.Greiner and Recticel have been working together for decades. They formed a joint venture in 1992 called Eurofoam, which makes flexible foams. The Austrian company agreed to buy out the venture last year.Recticel agreed in March to acquire the thermal PIR insulation board business of Poland’s Gor-Stal Sp. z o.o for 30 million euros including debt. Later that month, it completed its purchase of Conzzeta AG’s FoamPartner unit for an enterprise value of 270 million Swiss francs ($300 million).(Corrects location of Kingspan in sixth paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
Here's how to tell if dogecoin's rebound is more bark than bite, according to technical analysts following the popular crypto.
Lawmakers are looking for quick action to improve an existing forgiveness program.
Shares of Plug Power Inc. surged Friday, after they hydrogen and fuel cell systems company completed its restatement, removing a "shroud of uncertainty" that has been weighing heavily on the stock the past couple months.
(Bloomberg) -- A crack in a bridge over the Mississippi River has stranded more than 700 barges, cutting off the biggest route for U.S. agricultural exports when the critical waterway is at its busiest.The route is shut near Memphis while the Tennessee Department of Transportation inspects a large crack in a highway bridge spanning the river, according to the U.S. Coast Guard. A queue has expanded to 47 vessels and 771 barges, with 430 of those heading north and the rest going south, Petty Officer Carlos Galarza of the Coast Guard’s 8th District said Thursday afternoon by email.The Mississippi River is the main artery for U.S. crop exports, with covered barges full of grain and soy floating to terminals along the Gulf of Mexico, while crude oil as well as imported steel also travel through sections of the waterway. Any sustained outage would disrupt shipments out of the Gulf. Corn futures tumbled by the most allowed under CME Group rules partly on speculation that exports would back up.“The river is the jugular for the export market in the Midwest for both corn and beans,” said Colin Hulse, a senior risk management consultant at StoneX in Kansas City. “The length of the blockage is important. If they cannot quickly get movement, then it is a big deal. If it slows or restricts movement for a longer period it can be a big deal as well.”The stoppage along the Mississippi River is the latest calamity to upend the commodities world in recent weeks. Back in March, the Suez Canal was blocked by a giant container ship that got stuck sideways in the vital waterway for almost a week, paralyzing global shipping. And late last week, a cyberattack brought down the largest fuel pipeline in the U.S. for five days, leading to widespread gasoline shortages from Florida to Virginia.A lengthy halt on the Mississippi River could further roil crop markets, where soybeans and corn futures have hit multiyear highs amid adverse weather in Latin America and a buying spree from China. Corn futures fell Thursday by the exchange limit of 40 cents, or 5.6%, to $6.7475 a bushel in Chicago.As a workaround, traders could in theory also send some supplies on trains and divert to ports along the U.S. Pacific Northwest. Few grain and soy buyers were bidding for barges north of the river closure amid uncertainty on when vessel traffic would resume.The crack halting vehicle and waterway traffic is in the truss of the Interstate 40 Hernando DeSoto Bridge, which was found during a routine inspection, according to a Tuesday statement from the Tennessee Department of Transportation.“The timeline is still undetermined” for the waterway reopening, department spokeswoman Nichole Lawrence said Thursday morning by email.The Army Corp of Engineers could figure out a way to keep automotive traffic closed in order for water traffic to resume under the bridge, according to CRU Group analyst Josh Spoores. It may cause bottlenecks, but most consumers already used to waiting months for supplies to ship are probably fine with some added delays, he said.The New Orleans Port Region moved 47% of waterborne agricultural exports in 2017, according to the U.S. Department of Agriculture. The majority of these exports were bulk grains and bulk grain products, such as corn, soybeans, animal feed and rice. The region also supports a significant amount of edible oil exports, such as soybean and corn oils and even attracted 13% of U.S. waterborne frozen poultry exports in 2017.Some traders speculated that, based on past experience, the river might be partially opened for restricted movements while repairs are being done.“My sense is that it is not a big deal for river traffic as it will be a short-term disruption,” said Stephen Nicholson, a senior analyst for grains and oilseeds at Rabobank. “The good news is most of fertilizer has already come up river and soybean exports are at their low point. However, corn exports continue at a strong pace, so we may see a slight delay in corn barges reaching” New Orleans.It may be difficult for exporters to shift much volume to rail, as the capacity to unload trains outside of the New Orleans area is limited, according to Curt Strubhar, vice chairman and risk management consultant at Advance Trading Inc.“There aren’t many rail unloaders South of the issue,” he said, adding that New Orleans “port elevators aren’t equipped to handle a sharply higher share of rail unloads either.”Of agricultural supplies that floated on barges north of Memphis, about 84% was corn and about 13% was soybeans, according to Mike Steenhoek, executive director of the Soy Transportation Coalition, citing USDA data. Overall shipments of corn and soy during the week ended May 8 were 18% higher than a year ago.Agricultural co-operative Growmark’s St. Louis port, which sends corn and soybeans south to New Orleans for export mostly to China and receives fertilizers, will likely close Friday, according to Matt Lurkins, executive director of the firm’s grain division.“Freight was already tight,” Lurkins said in a phone interview. “Then this kind of sent us over the edge.”If the pause drags on, he said, Growmark could send more grain to processors rather than loading it on barges for export.Small volumes of crude and partly refined oil are shipped by barge on the river as well. In February, 2.85 million barrels moved from the Midwest to the Gulf Coast via barge and tanker, according to government data.Imported steel on barges will be delayed as long as traffic is halted. About 25% of imported steel travels through at least a section of the Mississippi River, according to Wood Mackenzie analyst Cicero Machado, though he said newly arriving foreign steel to ports in New Orleans or Mobile, Alabama can be diverted onto rail cars or trucks.The river also is a major artery for steel shipments within the U.S. and delays could become an issue for automakers in the South that depend on high-strength steels produced in the Midwest, he said.“At this stage the big question is: is this going to last?” Machado said. “The issue is not actually in the river, it’s in a bridge over the river -- so perhaps they’re going to find a way to manage the traffic there.”(Adds Coast Guard update in second paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
Dogecoin will likely transition from a proof-of-work protocol to proof-of-stake, speculated Alex Mashinsky, the chief executive and founder of The Celsius Network on Friday during a webcast hosted by his lending platform on YouTube.
USA TODAY answers the most asked questions regarding the Colonial Pipeline cyber attack and what states are struggling to keep gas stations stocked.
Anyone with a stock account can now make a savvy, albeit risky, bet on GBTC pricing disparities that were previously exclusive to big players.
(Bloomberg) -- Stock sales are reaping a windfall for the world’s richest shareholders.Corporate insiders including Amazon.com’s Jeff Bezos and Google co-founder Sergey Brin have ramped up stock sales recently, cashing in on a 14-month long bull market that’s helped boost fortunes to the tune of trillions.U.S. public company insiders offloaded shares worth $24.4 billion this year through the first week of May, with about half sold through trading plans, according to data compiled by Bloomberg. That’s almost as much as the $30 billion total they disposed of in the second half of 2020.Large shareholders frequently sell stock in planned intervals, often through pre-arranged trading programs. Yet the prolonged rally in equities markets has made the value of these disposals, whether planned or opportunistic, strikingly high.There are multiple reasons an investor of any size might be motivated to sell. After the pandemic-defying rally, valuations are increasingly under pressure from rising inflation. Investors are wary the post-Covid recovery could prompt tightening measures from the Federal Reserve. And President Joe Biden’s proposed tax hikes -- including a near doubling of the capital gains rate -- have created uncertainty.Bezos, EllisonWhatever the reason, the sales are flooding the market with yet more liquidity, the consequences of which will ripple through philanthropy, the art market, real estate and other niches.Bezos has sold $6.7 billion worth of Amazon shares this year. While a relative pittance for the world’s richest person, it’s more than two-thirds the value of shares he sold in 2020. Larry Ellison unloaded 7 million Oracle shares in the past week for total proceeds of $552.3 million. Charles Schwab has sold $192 million worth of shares of his eponymous brokerage this year.Brin, who has signaled that he intends to sell as many as 250,000 Alphabet Inc. shares, has disposed of $163 million worth of stock in recent days, his first sales in more than four years, filings show.Mark Zuckerberg and his charitable foundation, the Chan Zuckerberg Initiative, meanwhile, accelerated their sales of Facebook stock in the fall. Zuckerberg or his charity has divested shares at a near-daily clip since November, for a cumulative total exceeding $1.87 billion.The surging markets have exacerbated the concentration risk of the single-stock-dominated fortunes typical of many tech billionaires, said Thorne Perkin, president of Papamarkou Wellner Asset Management.“From a portfolio-management perspective, it makes sense to spread it around,” he said.Covid EconomyAlso among the biggest sellers are some noteworthy beneficiaries of the Covid economy. Zoom Video Communications founder Eric Yuan and used-car retailer Carvana Co.’s Ernest Garcia II have together received more than $1.75 billion from stock sales since March 2020, according to the Bloomberg Billionaires Index. George Kurtz, chief executive officer of cybersecurity firm CrowdStrike, has sold shares worth at least $250 million over that period.Zoom founder Yuan -- the poster child, in many ways, for the coronavirus economy -- has stepped up his sales this year as the firm’s share price slumped. In 2020, he typically offloaded about 140,000 shares a month through a trading plan, which generated more than $350 million over the course of the year.Since March, he’s sold almost 200,000 shares a month on average, yielding him about $185 million. He also donated more than a third of his stake in the San Jose-based company as part of “typical estate planning practices,” according to a spokesman. Some of the cash from his share sales fund donations to unspecified “humanitarian causes.”(Updates with Charles Schwab’s sales in seventh paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
The IRS sent out COVID-19 relief checks to nearly 1 million more Americans in the ninth batch of payments made under Biden's American Rescue Plan.
The Tesla CEO sent the price of Bitcoin and other cryptocurrencies plummeting. But he may be aiming to turn crypto-mining green in ways that benefit Tesla.
In a further sign of "institutional DeFi" momentum, the regulated custodian is adding 1INCH, BNT, CRV, REN and SUSHI.
The Walt Disney Co. blew away earnings expectations with a Thursday report, but shares still fell in late trading as the pandemic-fueled growth of its streaming services slowed down.