Changpeng Zhao, co-founder of the world’s largest crypto exchange Binance, pleaded guilty on Tuesday to criminal charges related to violating U.S. anti-money-laundering laws, and stepped down as head of the company. But over the long-run, another black eye for the crypto industry could end up being positive for Binance, and…

Key News Asian equities were mixed overnight as China underperformed. Health care was the worst-performing sector in Hong Kong overnight after contract research giant WuXi Biologics issued a negative medium-term growth outlook. The primary factors were the boom in COVID-related business coming to an end and less funding for smaller…

Bitcoin and other cryptocurrencies fell Wednesday in volatile trading following bombshell news that the CEO of Binance has pled guilty to anti-money-laundering violations and will step down from the world’s largest crypto exchange. The price of Bitcoin has fallen 2% over the past 24 hours to $36,600, the largest digital…

With individual retirement accounts, whether of the Roth or the original variety, you pay taxes at some point. Have you ever wondered if an analogous vehicle exists that is free of estate tax? There is: a grantor retained annuity trust, or GRAT. We learn more about GRATs from Darius Gagne,…

Moody’s Investors Service cut its rating outlook to negative from stable on Bank of America Corp., JPMorgan Chase & Co. and Wells Fargo & Co., but the stocks rallied Tuesday on the heels of tame inflation data. Meanwhile, bond prices of banks also climbed dramatically as yields fell, in another…

Week in Review Asian equities were mostly lower for the week with South and Southeast Asia outperforming Northeast Asia as India and Pakistan were the top-performing markets. Internet earnings releases for Q3 this week included Pinduoduo, a strong beat on top and bottom line, Meituan, which was mostly in line…

Alstom shares plunged by a fifth at one point on Wednesday after the train maker said it would sell assets, cut jobs and consider a capital raise after a cash flow warning in October increased concerns about the company’s debt level. The manufacturer of France’s high-speed TGV locomotives said it…

Every single tweet costs nothing and has the potential to reach the entire world. It’s the best lottery ever made. — Naval Ravikant Endless scrolling, cheap dopamine hits, anonymous trolling—it’s easy to criticize social media. What doesn’t make headlines: the ability to connect with millions, generate income, and create real…

Shareholders of Walmart Inc. may have had an inkling of today’s stock selloff if they had been watching the performance of its bonds over the last two weeks. The bonds have seen net selling even as spreads have tightened, according to data solutions company BondCliQ Media Services. The same is…

Some of things that helped boost the economy this year may hurt it next year,new research shows. “Fiscal stimulus in 2023 was part of the reason the market and economy surprised to the upside,” states a report from Ned Davis Research . “The fiscal injection was so large that it…