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Vale rose above a new buy point Monday after a failed breakout over a 17.78 entry.
Vale rose above a new buy point Monday after a failed breakout over a 17.78 entry.
(Reuters) -CVS Health on Tuesday named former Aetna Chief Financial Officer Shawn Guertin as its new finance chief, in the latest hiring of a former executive of the health insurer since Karen Lynch was named chief executive. CVS bought Aetna in 2018 to help tackle soaring healthcare spending through lower-cost medical services in pharmacies, and Guertin played a key part in the $69 billion deal.
(Bloomberg) -- Indonesian online travel company Tiket.com is exploring going public through a merger with a special purpose acquisition company as it seeks to expand its business, according to people with knowledge of the matter.The startup is in talks with COVA Acquisition Corp. for a deal that would value the combined entity at about $2 billion, according to the people, who asked not to be identified because the talks are private. Goldman Sachs Group Inc. is advising Jakarta-based Tiket, which is valued at more than $1 billion and owned by diversified Indonesian conglomerate Djarum Group, they said.The startup may also pursue a traditional initial public offering, a merger or an acquisition to expand, the people said. Negotiations between the two firms aren’t finalized and it’s possible discussions may not result in a deal, they said.Tiket joins a slew of Southeast Asian internet companies considering SPAC listings or initial public offerings to fuel growth as online commerce gains popularity in the region. Indonesian rival Traveloka is in advanced talks to go public through merging with Bridgetown Holdings Ltd., a blank-check firm backed by billionaire Richard Li and Peter Thiel.As part of the deal, Tiket could raise about $200 million in a so-called private investment in public equity, or PIPE, that often accompanies a SPAC merger, the people said. Representatives of Tiket, Goldman and COVA Acquisition declined to comment.Tiket.com was founded in 2011, a year before Traveloka. Djarum acquired Tiket in 2017 and put it under the leadership of Chief Executive Officer George Hendrata, previously Djarum’s director of business development and diversification. Tiket’s platform lets consumers buy tickets for flights, trains as well as concerts and other events. Users can also book hotel and rental cars in Indonesia. It has a network of more than 90 airlines, 2.8 million hotels and other lodgings, and more than 400 corporate partners.Tiket’s sales of plane tickets and hotel bookings surged more than 300% in the first three months of 2021 compared with the second quarter of 2020, when business was hurt by the onset of the coronavirus pandemic, according to the company’s press release in April.Djarum is led by Michael Bambang Hartono and his younger brother Robert Budi Hartono, who inherited a clove cigarette manufacturing business from their father Oei Wie Gwan upon his death in 1963. They grew the business into a diversified conglomerate including PT Bank Central Asia, whose market capitalization of about $55 billion makes it Indonesia’s most valuable company. Budi Hartono is the richest Indonesian with a net worth of $16 billion, while Michael has a net worth of $15 billion, according to the Bloomberg Billionaires Index.Luminar Backer’s $300 Million SPAC Seeks Southeast Asia TargetCOVA Acquisition is led by Jun Hong Heng, the founder of San Francisco-based Crescent Cove Advisors LP, which backs high-growth technology, media and telecommunications ventures in the U.S. and Southeast Asia. Crescent Cove was one of the earliest and largest investors in Luminar, a driverless-car startup founded by entrepreneur Austin Russell.More stories like this are available on bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
(Bloomberg) -- Heineken NV, the world’s second-largest brewer, is in talks about a takeover of South African wine and spirits maker Distell Group Holdings Ltd.Heineken approached Distell about a possible acquisition of most of its business, the South African company said Tuesday, confirming an earlier Bloomberg News report. Distell is considering its options, spokesman Frank Ford said by phone.Distell shares jumped as much as 10%, hitting an intraday record. They were up 5.6% at 9:25 a.m. Tuesday in Johannesburg, giving the company a market capitalization of 33.6 billion rand ($2.4 billion).Shares of Heineken advanced 0.9% in Amsterdam, valuing the brewer at 57 billion euros ($70 billion). Discussions are ongoing, though there’s no certainty they will lead to a transaction, Heineken said Tuesday.Distell produces Klipdrift brandy, Nederburg wine, Amarula cream liqueur, Savanna cider and Bain’s Cape Mountain Whisky. Remgro Ltd., an investment vehicle of South African billionaire Johann Rupert, and Public Investment Corp., Africa’s biggest pension fund, each hold a little more than 30% of Distell, according to data compiled by Bloomberg.The PIC increased its stake in 2017 after a shakeup of the drinks maker’s ownership structure, paying 170 rand a share. That’s 19% higher than Distell’s share price at the close on Monday, before the talks were announced.An acquisition would be Heineken’s most significant transaction since 2018, when it formed a partnership with China Resources Beer Holdings Co., maker of the country’s best-selling beer. A purchase would add to $7.4 billion of deals announced in the global beverage industry this year, about 15% less than at this point in 2020, according to data compiled by Bloomberg.Heineken is emerging from one of the beer sector’s toughest crises. Despite gains in Vietnam and Mexico, the brewer is still facing setbacks in key markets such as Brazil and the U.K. where restrictions on movement and sales have hurt demand. Earlier this year, the company laid off 8,000 employees. The brewer surprised analysts in April with stable first-quarter sales as emerging markets made up for declines in Europe.South Africa was one of Heineken’s best-performing markets, which is surprising given the country’s recurring ban on alcohol.Any deal for Distell would see Heineken Chief Executive Officer Dolf van den Brink, who took charge last June, make progress expanding into categories that have historically been more profitable than brewing, including liquor. It will also accelerate the decades-long strategy of his predecessor Jean-Francois van Boxmeer. During his tenure, van Boxmeer sought to tap growth opportunities in Africa, investing hundreds of millions of euros in promising markets such as Cote d’Ivoire, Nigeria and South Africa.(Adds details from statement in second paragraph, details on Distell shareholders in fifth and sixth paragraphs)More stories like this are available on bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
(Bloomberg) -- Stanley Druckenmiller said last week that pretty much anyone could make money in the markets right now and that he was up 17% this year.The latest regulatory filing from his Duquesne Family Office shows some of the ways he’s done this and what he’s betting on going forward.The investor, worth $10.4 billion according to the Bloomberg Billionaires Index, took a new $154.6 million position in Citigroup Inc., and a smaller stake in JPMorgan Chase & Co., a bet that could benefit from rising rates.Duquesne also amassed a $69.7 million stake in online travel company Booking Holdings Inc. and boosted its holdings of Starbucks Corp. and Expedia Group Inc. -- a nod to the rapidly vaccinated U.S. and a potential return to more travel and work from the office.Overall, the firm disclosed on Monday $3.9 billion of U.S. equity holdings in the 13F filing, a slight increase from the prior quarter.Druckenmiller made some sizable trades involving consumer businesses inordinately impacted by the pandemic. He liquidated stakes in Walt Disney Co. and cruise liner Carnival Corp. Duquesne also trimmed its holdings in used-car retailer Carvana Co. and miner Freeport-McMoRan Inc., which is up 70% this year.Extremely PrivateFamily offices, the closely held investment vehicles of the ultra-wealthy, are often impenetrably discreet. The 13F filings are required by the Securities and Exchange Commission of money managers overseeing more than $100 million in U.S. equities and must be filed within 45 days of the end of each quarter.Only a handful of family offices out of the thousands operating globally file the forms. Most are too small or farm their equity investments out to external money managers. Some, such as Bill Hwang’s Archegos Capital Management, buy securities through swap arrangements with banks, which keeps their holdings hidden. Hwang’s family office, which blew up at the end of March, never filed a 13F.For those required to file the forms, they offer a glimpse into the investment strategies of some of the world’s wealthiest people.Soros Fund Management, for instance, revealed on Friday it snapped up shares of ViacomCBS Inc., Baidu Inc., Vipshop Holdings Ltd. and Tencent Music Entertainment Group. The investment firm, which oversees $27 billion, didn’t hold the shares prior to Archegos’s implosion, said a person familiar with the fund’s trading.Iconiq, WildcatBlue Pool Capital, which manages part of the fortunes of Alibaba Group Holding Ltd. co-founders Joe Tsai and Jack Ma, increased its investments in U.S. tech giants and trimmed exposure to health-care stocks in the first quarter, according to its latest filing.The Hong Kong-based firm took new positions in Uber Technologies Inc. and Twitter Inc. and added to its bets on Microsoft Corp. and Facebook Inc. In total the seven-year old firm disclosed it held 31 U.S. stocks worth a combined $446 million at the end of the quarter.Bluecrest Capital Management, the investment firm of billionaire trader Michael Platt, disclosed it held $3.8 billion of U.S. equities, a jump of more than $400 million from the prior period. The firm’s largest new positions were NRG Energy Inc., China Biologic Products Holdings and blank check firm Churchill Capital Corp VII.Iconiq Capital, the San Francisco-based multifamily office that has managed money for high-profile Silicon Valley billionaires like Sheryl Sandberg, Mark Zuckerberg and Reid Hoffman, reported that the value of its disclosed holdings surged 121% from the previous quarter, to $8.9 billion.Iconiq boosted its biggest position, in cloud-computing company Snowflake Inc., and revealed holdings of Roblox Corp. and Twilio Inc. Its Snowflake stake now makes up the vast majority of the total value of Iconiq’s disclosed portfolio.Another family office betting on Snowflake was David Bonderman’s Wildcat Capital Management, which disclosed $819 million of U.S. equities at the end of the quarter.The firm, which shares its name with the location of a home Bonderman owned near Aspen, Colorado, revealed a new position in South Korea’s Coupang Inc., which went public in March. Its largest holdings remain Skillz Inc. and Costar Group Inc.(Adds detail on Bluecrest Capital Management in 13th paragraph)More stories like this are available on bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
(Bloomberg) -- Baidu Inc., the Chinese search giant that’s shifting into artificial intelligence, reported quarterly revenue that beat analysts estimates, extending its recovery from the Covid-19 pandemic.Revenue climbed 25% to 28.1 billion yuan ($4.4 billion) in the three months ended March, compared with the average 27.3 billion yuan of estimates. Net income surged to 25.7 billion yuan, mostly boosted by gains in the value of long-term investments, including in recently listed Kuaishou Technology.The company predicted sales of 29.7 billion yuan to 32.5 billion yuan for the June quarter, versus the 30.2 billion yuan seen by analysts.Founder Robin Li has in recent years sought to pivot Baidu away from search to reposition itself as an AI company with autonomous driving ambitions. The firm will eventually derive the bulk of its revenue from businesses beyond search and advertising, as it sustains record R&D investment into AI technologies, the 52-year-old chief executive officer said in an interview with Bloomberg Television in March.What Bloomberg Intelligence Says:Baidu’s sales mix is likely to shift further away from its traditional search advertising business as growth at its non-marketing initiatives continues to be much stronger. Cloud services, autonomous driving, smart transport and hardware drove a 52% jump in 4Q non-marketing sales, while core ads stayed flat for the second consecutive quarter. The trend may accelerate with the integration of Joyy’s domestic live-streaming business in 1H. Operating margin may plunge sequentially due to weak seasonality and stepped-up investment in new initiatives.-- Vey-Sern Ling and Tiffany Tam, analystsClick here for the researchBaidu climbed almost 4% in pre-market trading in New York. The stock has plunged roughly 44% from its record in early February after it was caught up in the implosion of Bill Hwang’s Archegos Capital Management that led to a forced liquidation of the fund’s positions, including in Baidu. Its Hong Kong-listed shares are down nearly 26% since they began trading in March, the worst performer among recent major Chinese tech listings in the city. In contrast, Bilibili Inc., which made its Hong Kong debut about a week after Baidu, has declined 3% while Kuaishou has almost doubled since its February debut.Once part of China’s internet triumvirate alongside Alibaba Group Holding Ltd. and Tencent Holdings Ltd., Baidu has fallen behind in the mobile era, where the effectiveness of its search service has been crippled by super-apps like WeChat creating siloed ecosystems.To compete, Baidu’s core search product is morphing into an all-purpose platform hosting an array of content from news articles to live-streams and short videos, essentially emulating those apps. It last year agreed to pay $3.6 billion in cash for Joyy Inc.’s livestreaming video business in China is aimed at regaining lost ground to the likes of TikTok owner ByteDance Ltd.Its Netflix-style unit iQiyi Inc. reported first-quarter revenue of 7.97 billion yuan, topping the 7.67 billion yuan average of estimates, after drawing more users. Sales in the three months ending in June will be between 7.21 billion yuan to 7.65 billion yuan, compared with an estimated 7.52 billion yuan. The stock rose more than 5% in pre-market trading.It’s also making a big push into autonomous driving, betting on the smart vehicles of the future. In January, the company announced it’s teaming up with Zhejiang Geely Holding Group to produce smart electric vehicles, prompting analysts to hike their value estimates for Baidu’s self-driving unit Apollo. The venture, Jidu Auto, aims to spend 50 billion yuan over the next five years to develop smart-car technology and will hire as many as 3,000 employees for the project over the next two to three years, the company said last month.Read more: Baidu and Geely Plan $7.7 Billion Smart Car Push(Updates with iQiyi shares in ninth paragraph)More stories like this are available on bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
Goldman Sachs will launch an app for UK users of its digital bank Marcus over the following weeks and plans to offer automated investment management to clients in the country by the first quarter of next year. The U.S. bank has attracted just over $30 billion in UK deposits since launching a savings account in 2018, accounting for 30% of Marcus's deposits globally, Des McDaid, the head of Marcus UK, told Reuters.
(Bloomberg) -- Bitcoin is likely to remain under pressure for weeks after tumbling about 35% since hitting a record high last month, according to one of the biggest investors in the largest cryptocurrency.“I think we are going to consolidate for a while, four to six weeks,” Michael Novogratz, chief executive officer of Galaxy Digital LP, said in an interview, calling a $40,000-to-$50,000 price range fair.Bitcoin fell as low as $42,133 on Monday following a volatile weekend that saw Tesla CEO Elon Musk whipsaw investors with a series of tweets in the wake of his decision to stop accepting the coin for car purchases because of its environmental impact. Bitcoin’s digital ledger uses a worldwide network of computers to function, a process that’s become known as mining.“I took his mining comments at face value,” Novogratz said. “I don’t think that’s Bitcoin-specific, that’s everything specific: The gold market, YouTube -- all uses a lot of electricity. And Elon has businesses in clean energy.”The cryptocurrency industry is looking at its Environmental, Social, and Corporate Governance (ESG), and how to mitigate Bitcoin’s impact through things like carbon offset credits, he said.“Like all industries, ESG is important, and the crypto industry including Galaxy is going to address it,” Novogratz said.The explosion in interest for joke coins like Doge -- which Musk has been tauting on Twitter -- makes it harder for people to take the broader cryptocurrency market seriously, Novogratz said in a Bloomberg Television interview. Yet he said there was real angst behind some of the support for Doge.“What you’re seeing is a response against the monetary policies of the U.S. and the world,” he said. Crypto has become too tribal, so much so that a friend of his who criticized Doge on Twitter received six death threats, Novogratz said.Bitcoin should still finish the year higher even after the recent slide, Novogratz said. The U.S. Securities and Exchange Commission could approval of a Bitcoin exchange-traded fund at the end of this year or early next year, he said.“My guess is the next catalyst is the ETF,” Novogratz said.While Bitcoin continues its gyrations, New York-based Galaxy -- which hopes to list on a U.S. exchange in the second half of the year -- reported strong first-quarter results Monday. Even after the recent volatility, Bitcoin is up around 45% for the year.Net comprehensive income, excluding non-controlling interests, increased to $860.2 million, from a net comprehensive loss of $26.9 million in the prior-year period. Counterparty trading volumes grew more than 290% year over year. Its preliminary assets under management rose to $1.27 billion as of March 31, a 58% jump from the prior quarter.Galaxy is involved in a slew of businesses, ranging from mining to helping companies with acquisitions to investing in startups. In May, Galaxy acquired crypto custodian BitGo for $1.2 billion. Erin Brown, who was previously chief risk officer at Jump Trading, was named chief operating officer Monday.Galaxy is currently trading more than 90 coins. The bulk of the portfolio is in 15 coins, however, including Bitcoin, Ethereum and some DeFi coins, used in decentralized-finance applications like peer-to-peer lending and payments.“Ethereum is certainly have a moment,” Novogratz said in the Bloomberg Television interview. He said it’s the most decentralized blockchain network and has the most developers and the most applications “by a long shot.” He said he thought Ethereum would trade between $2,800 and $4,000 in a similar “consolidation” period he mentioned for Bitcoin.“Let’s not miss the big picture for the small picture,” Novogratz said. “We are going through a once-in-a-generational shift in this crypto blockchain evolution, where the financial infrastructure is starting to be rebuilt. That process is picking momentum.”(Adds television interview beginning in seventh paragraph.)More stories like this are available on bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
The crypto lender is entering Bitcoin mining in the midst of a boom in North America’s bitcoin mining industry.
It’s a busier day on the economic calendar. Following GDP numbers from Japan and the RBA Meeting Minutes, the Pound and the EUR will be in focus later today.
(Bloomberg) -- A growing chorus of analysts is warning that high-quality company debt may have nowhere to go but down as investment-grade spreads approach levels last seen in the lead-up to the dot-com bubble.“The best days are behind” for corporate credit, Morgan Stanley strategists led by Srikanth Sankaran wrote in a May 16 midyear outlook. “The combination of extended valuations, less favorable technicals and a slower pace of balance sheet repair suggests that credit markets have progressed to a mid-cycle environment.”Spreads on BBB rated bonds, which account for more than half of the high-grade universe, narrowed to an average of 106 basis points over Treasuries on Monday, fueled by investor demand for the lowest-rated yet highest-yielding part of the asset class. Should spreads breach 100 basis points, it would be the first time since the dot-com era of the late 1990s.Morgan Stanley is calling for 17 basis points of widening for U.S. investment-grade bonds through the first half of 2022, and downgraded its credit outlook to neutral.Meanwhile, Bank of America Corp. expects another stretch of rising Treasury yields will “lead the market to price in a much faster rate-hiking cycle,” strategists led by Hans Mikkelsen wrote in a note distributed Monday. That will cause spreads to widen in the coming months as investors are pushed to either sell or sit on the sidelines.Still, some say BBBs, the best performing tier of high-grade credit this year, may continue to enjoy a tailwind despite the tight spreads. Citigroup Inc. notes that President Joe Biden’s bailout of multi-employer pensions may spur tens of billions of dollars in demand for corporate bonds with the lowest investment-grade ratings.Morgan Stanley’s bearish forecast for credit overall also favors BBBs due to their marginally higher yields, with expectations that returns will now be driven “by carry and credit-picking rather than beta and capital appreciation.”And duration is also working in the rating bucket’s favor. With shorter average maturities than higher-rated corporate debt, BBBs are less exposed to losses from rising rates.U.S.Seven companies are looking to sell fresh debt in the U.S. investment-grade bond market Tuesday, including Charter Communications and Microchip Technology. Monday’s session saw the week kick off with almost $20 billion in new sales from 10 issuers.Borrowers are growing increasingly frustrated at a perceived failure by banks to explain their Libor transition plans and offer products tied to replacement rates.For the first time since January 2020, U.S. bankruptcy courts saw no large Chapter 11 bankruptcy filings last week.Eric Cole’s Warlander Asset Management will combine with Ellington Management Group as the investment firms seek to expand their corporate credit capabilities, according to an investor letter seen by Bloomberg.For deal updates, click here for the New Issue MonitorFor more, click here for the Credit Daybook AmericasEuropeA triple-tranche sale from American Tower and the final SURE offering from the EU led a jam-packed day for deals in Europe’s bond market.Credit Suisse Group AG on Monday issued its first euro and sterling notes since the collapse of Greensill Capital and Archegos Capital Management. While the sales left demand for the bank’s debt in no doubt, they also highlighted increases in the bank’s funding costs since March.Lender calls for Carnival, Solera and Vocus term loans were Tuesday, while commitments were due for Azelis.AsiaChina Huarong Asset Management Co. has transferred funds to repay a $300 million bond maturing Thursday, according to a person familiar with the matter.Still, bondholders in the bad-debt manager may face significant losses, with China planning an overhaul that would hit both domestic and foreign creditors, according to a New York Times report.As the Huarong saga increases scrutiny of ‘bad bank’ debt globally, India’s version will keep a tight leash on its own debt financing, according to a top official of the association helping to finalize the details.Global banks are losing share in the $186 billion lending market for Chinese borrowers offshore, falling behind local rivals boosting their presence just as the nation’s corporate sector recovers from the pandemic.More stories like this are available on bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
(Bloomberg) -- Ryanair Holdings Plc posted a record annual loss, while saying it’s likely to break even this year as vaccination programs allow a gradual easing of coronavirus travel curbs.Bookings have increased significantly in recent weeks, pointing to a strong recovery in the second half, although forward visibility remains “close to zero,” the Irish company said in a statement Monday. That’s made it impossible to provide more meaningful financial guidance.Europe’s biggest discount carrier is counting on lockdown-weary travelers flocking to the beach as U.K. curbs ease, starting with Portugal. Even if the revival transpires, Ryanair reiterated that traffic will remain at the lower end of an 80 million to 120 million passenger range for the year ending next March. Clusters of a more transmissible variant of Covid-19 that’s fed an Indian outbreak also pose fresh risks for the U.K. plan.“Scientific evidence over the weekend confirms that vaccines are effective against the Indian variant, but that it has a higher rate of spread,” Chief Executive Officer Michael O’Leary told Bloomberg TV. “We think it will be a one- or two-week wonder and then everyone will calm down.”Ryanair shares were up 1.1% as of 8:03 a.m. in Dublin. This year they have advanced 5.5%.Italy, GreeceShould the new strain prove more threatening there’s a risk of new lockdowns that could put Europe’s reopening into reverse, Chief Financial Officer Neil Sorahan said separately.Should markets continue to open up, Ryanair expects to be operating at 60% to 70% of normal summer levels.Bookings at Ryanair have tripled to 1.5 million a week since April 1, spurred by Britain’s reopening of leisure travel starting this week. O’Leary said he’s hopeful Italy and Greece will be added to a quarantine-exempt “green list” this month, followed by Spain in early June.The CEO said he’s in talks with airports in Italy, Spain, Sweden and central and eastern Europe about adding further flights, though confusion surrounding the delivery of Ryanair’s first 737 Max jets from Boeing Co. is impacting the company’s ability to commit new capacity.By the end of May, Ryanair’s fleet should have included 14 high-capacity examples of the Max -- now flying again after two fatal crashes -- but none have been handed over following the discovery of electrical problems. O’Leary said communication from the manufacturer has been “very poor.”Market ShareRyanair posted a loss of 815 million euros ($989 million) for the year ended March 31, compared with profit of 1 billion euros the prior year. The Dublin-based carrier said on April 7 the figure would be between in an 800 million-euro to 850 million-euro range.O’Leary said he expects capacity on intra-European routes to be materially lower for the foreseeable future, creating opportunities to target market share with lower prices, especially next summer, when Ryanair is due to have received as many as 65 Max planes out of an order for 210.Read: Sun-Hungry Brits Head South as Flights Resume After Covid Ban(Updates with CEO comments from fourth paragraph, adds shares)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.
Learn the basic structure of a 401(k) and why it may not be enough to sustain you during retirement.
A paper that my colleague Anqi Chen and I wrote last year — “How Much Taxes Will Retirees Owe on Their Retirement Income?” — keeps hitting the “top 10” list on a major listserv for social sciences research. As people approach retirement, they tend to add up their financial resources — Social Security benefits, defined benefit pensions, defined contribution balances, and other assets. The question we look at is just how large the tax burden is for the typical retired household and for households at different income levels.
‘Will she still be able to use our daughter as a tax deduction? My concern is also with the coming child tax credit this summer.’
AT&T's stock is the biggest loser in the S&P 500 on Tuesday. Its valuation depends on how much credit investors give the combined WarnerMedia/Discovery for its future streaming efforts.
Experienced hands look to be buying the dip as a key bitcoin price indicator suggests the pullback may be coming to an end.
Amid the slump sweeping across crypto assets Tuesday, investors were turning their attention to a meme asset, SafeMoon, that has garnered increased attention was recently drawing fresh looks after comments made by Barstool Sports founder Dave Portnoy on Twitter.
SafeMoon debuted its cryptocurrency in March, claiming to solve common problems that plague Bitcoin, Ethereum, and Dogecoin.
Raoul Pal tells bitcoin investors that current volatility is to be expected, but big things are around the corner.
‘Everybody wants to have asset prices forever going up and the cost of financing to be next to nothing,' Kerry Killinger says.