Currency News


Currency-News

 


May 28, 2026

The crypto market has broken through a key support level

Market Overview

The crypto market has lost around 3.5%, falling to a market capitalisation of $2.44 trillion and sharply breaking through the local support level seen in recent weeks. Technically, this is a worrying sign, as the market has fallen below the 50-day moving average, which could herald further sell-offs. The nearest potential stop is not before $2.30T. In a falling market, Stellar (+14.6%) and Basic Attention Token (+1.5%) stand out, but the third-ranked altcoin, BNB, has lost 3% over the past 24 hours. The worst performers among the most popular were Internet Computer (-9.6%), Zcash (-8.7%) and Dash (-8.7%).

Bitcoin has plummeted to $73K, a level not seen since mid-April. The bearish signal from the previous day, with the price falling below the 50-day moving average, is confirmed by market dynamics, which show that selling pressure on the leading cryptocurrency is intensifying. This suggests the broader bearish trend, represented by the declining 200-day moving average, is once again dominating the shorter-term upward momentum reflected by the 50-day MA. The outcome was not a foregone conclusion, but it seems the time for a long-term bull market has not yet come.

Ethereum has fallen below $2,000, a psychologically significant round figure. Having begun its decline in early May, the second-largest coin has wiped out its April gains and once again finds itself near a multi-year support line, from which ETH rebounded at the start of the year and in April last year.

News Background

An unknown trader sold BlackRock’s Bitcoin ETF shares on Tuesday for a massive $1.3 billion, Galaxy Digital notes. This led to a sharp drop in Bitcoin below $76,000. Outflows from US Bitcoin ETFs have continued for seven consecutive trading sessions and remain the main threat to the leading cryptocurrency, Wintermute notes.

Bitcoin has entered a high-risk zone amid mounting selling pressure and escalating international tensions, investment firm Swissblock notes. A further negative factor has been the decline in interest in spot Bitcoin ETFs.

“Ethereum evangelist” David Hoffman has sold all his holdings of the second-largest cryptocurrency and no longer expects it to grow significantly. In his view, ETH has failed to become the universal asset that many supporters of the project had hoped for. Meanwhile, the bulk of revenue has shifted to second-layer networks.

BitMine made the largest Ethereum purchase of the year last week. The company increased its holdings by 111,942 ETH, worth over $237 million. BitMine’s reserves exceeded 5.39 million ETH, that is 4.47% of the Ethereum supply. The company’s CEO, Tom Lee, described the fall of ETH below $2,200 as an ‘attractive opportunity’ to build up positions.

NEAR Protocol (NEAR), a layer-one blockchain positioning itself as the “blockchain for artificial intelligence”, has surged by 100% over the past month. The rally coincided with the announcement of a series of blockchain updates on privacy, cross-chain transfers, AI user data protection, and network scaling.

 

Markets, Cryptos and Culture

FinTech, Big Tech, Big Biz

LinkedIn b2b Business Lifts For Media Man Group and Associates

Alphabet/Google Cracks TIME 100 Cover

TKO/WWE In And Out Of The Ring Continues; Up and Down Cycle; TKO's Nick Khan Offers Positive Vibes To US Admin Re Ali Act Amendment

TKO's LinkedIn Continues To Enjoy Strong News Media Buzz; Google LinkedIn Numbers Up; Rinto Tinto (Mining) Strong LinkedIn Media Vibes And Buzz

Media Man LinkedIn and X Up; TKO News Flashbacks

Google/Alphabet Earnings

May 1, 2026

(Sydney, Australia To Wall Street, New York)

ASX 200 futures are pointing up 127 points/1.5% to 8795.

AUD +1.2% to US72.00¢

Bitcoin $77,105.63 +2.16%

Wall St:
Dow +1.6%
S&P +1%
Nasdaq +0.9%

VIX -1.92 to 16.89
Gold -0.04% to $US4616.09 an oz
Brent oil -3.4% to $US114.01 a barrel
Iron ore +0.7% to $US107.80 a ton
10-year yield: US 4.37% Australia 5.06%

Coffee 285.55 -5.15

Cocoa 3569.00 +159

Numbers Double Check

May 1

Australian Dollar: $0.7195 USD (up $0.0085 USD)
Iron Ore: $107.80 USD (up $0.75 USD)
Iron Ore: $105.53 USD (up 0.74 USD)
Oil Price (West Texas): $105.63 USD (down $2.86 USD)
Gold Price : $4,622.32 USD (up $78.35 USD)
Copper Price: $6.0245 USD (up $0.0980 USD)
Dow Jones: 49,652.14 (up 790.33 points)

Shares

TKO Group Holdings Inc
$186.09
+2.38 +1.30%
Lead Up
$183.71
-0.87 -0.47%

Alphabet Inc Class A
$384.80
+34.86 +9.96%
Lead Up
$349.94
+0.13 +0.037%

NVIDIA Corp
$199.57
-9.68 -4.63%
Lead Up
$209.25
-3.82 -1.79%

Meta Platforms Inc
$611.91
-57.21 -8.55%

News

Alphabet, Microsoft, Amazon, and Meta Platforms Report Q1 2026 Earnings Beating Expectations

Alphabet reported Q1 2026 revenue of $109.9 billion and EPS of $5.11, surpassing estimates, with Google Cloud revenue up 63% to $20 billion.

Microsoft reported fiscal Q3 2026 revenue of $82.89 billion and EPS of $4.27, beating expectations, driven by 39-40% Azure growth.

Amazon reported Q1 2026 revenue of $181.5 billion and EPS of $2.78 exceeding forecasts, with AWS up 28%, while Meta reported Q1 2026 revenue of $56.3 billion and EPS of $10.44 above estimates.

News

Biz (Aust)

May 1

ASX extends fall as oil tops $US126 a barrel

The Australian sharemarket lost ground on Thursday, after a spike in the crude oil price in response to growing fears that the Iran war will escalate; the S&P/ASX 200 shed 0.2 per cent to close at 8,665.8 points. South32 fell 5.4 per cent to $4.03, Evolution Mining was down 5.3 per cent at 11.90 and Woolworths finished 7.8 per cent lower at $34.39. However, WiseTech Global was up 3.4 per cent at $42.72 and ASX Limited added 5.1 per cent. (RMS)

News

Golf/Heath/Politics/Property

Mental health 'at risk' if Defence golf courses sold

The federal government announced in February that it would sell 67 military sites in the wake of an independent audit that found they had little strategic value, with five defence-owned golf courses among the sites under scrutiny. They include the Fairbairn Golf Club in Canberra, with club president Brian Depree urging the government not to sell it to property developers. He says it helps to provide mental support for current Defence members and veterans, and selling it and other defence courses would be at odds with the Royal Commission into Defence and Veteran Suicide's finding of systemic failures in support services for defence members and veterans, with the commission emphasising the need to help military personnel transition to civilian life. (RMS)

News

The crypto takes a breather after growth

Market Overview

The crypto market capitalisation has changed little over the past 24 hours, hovering around $2.57 trillion, with assets moving in different directions. Markets are likely to prefer a wait-and-see approach ahead of decisions by the Bank of Canada, the Fed, the ECB and the Bank of England over the next couple of days. Officially, markets are expecting a hawkish tone, so a focus on the economy could spur active buying.

The sentiment index plummeted to 26, falling below last week’s lows, reflecting a return of fear to the markets. The inability to hold above 50 since September remains a key sign of bearish sentiment.

Over the past two days, Bitcoin has lost approximately $4K from peak to trough at $75.6K, but on Wednesday, it turned higher, attempting to consolidate above $77K. Thus, Bitcoin has broken out of its upward trend but has not yet confirmed a reversal; therefore, we can only note a slowdown in growth at the 50% mark of the January-February decline.

News Background

The $80K level remains an important psychological barrier, around which a large volume of options is concentrated, GSR notes. QCP Capital considers $82K to be a key resistance level.

Bernstein regards Bitcoin’s February low of $60K as a “clear bottom” and expects a “higher and structurally longer bull cycle” going forward. The main driver of optimism remains a steady inflow of capital from institutional investors.

Bitcoin is no longer merely an “interesting asset” for companies seeking to remain competitive, Tim Draper, founder of venture capital firm Draper Associates, stated. According to him, firms must hold a portion of their reserves (5–15%) in BTC to avoid being financially irresponsible towards their shareholders.

Patrick Witt, Executive Director of the US Presidential Council on Digital Assets, announced an “important statement” regarding the US strategic Bitcoin reserve, which will be made in the coming weeks.

Bitmine, the largest publicly traded corporate holder of Ethereum, announced the acquisition of over 5 million ETH over 10 months, at an average cost of $2,369 per ETH. The company’s reserves have reached nearly 5.08 million ETH, representing 4.21% of the Ethereum supply.

News

Pop Culture/WWE

Roman Reigns Sweats Through Epic Promo Amid Arena Heat in Laredo

A power outage killed air conditioning at Sames Auto Arena, turning Monday Night Raw into a sauna with fans drenched and wrestlers glistening under pyro-lit lights. Reigns cut a fiery main event promo on Fatu's World Heavyweight Title shot at Backlash on May 9 in Tampa, listening to The Usos' warnings before greenlighting the match—only for Fatu to ambush him with a brutal Tongan Death Grip post-promo. Fans flooded social media with memes of Reigns' sweat-drenched look, declarations of stanning the champ, and hype for the Bloodline clash, proving his unbreakable draw even as some Cody Rhodes fans pushed back. (Media Man Peg-On): So pumped for the main event of WWE Backlash. We smell a Bloodline screw-job finish, but we shall see.

News

WWE NXT/Wrestling

NXT Debuts EVIL, Lizzy Rain, and Will Kroos in Roster Shake-Up

WWE NXT's April 28 episode on The CW featured six debuts, including former NJPW star EVIL's chilling arrival targeting NXT Champion Tony D'Angelo, rocker Lizzy Rain's dominant win over Nikkita Lyons with her Thunderstruck finisher, and indie powerhouse Will Kroos joining a beatdown on D'Angelo. John Cena hyped EVIL with his classic promo quote, while fans praised the secrecy around Kroos and Rain's heavy-metal entrance. Other newcomers like Tristan Angels, Kam Hendrix, and Tate Wilder added to the stacked night, setting up fresh storylines for titles and rivalries. (Media Man Peg-On): NXT needed some fresh faces and new blood to replace some of the WWE main roster call-ups; Shawn Michaels and Robert Stone one again deliver. It's almost a new era kinda feeling and vibe with the shake-ups. Fans pumped for the upcoming main roster debuts of Blake Monroe and Ricky Saints.

News

April 30

AI

Elon Musk Testifies Against OpenAI in Breach of Mission Trial

Musk, who co-founded OpenAI in 2015 and invested $38 million, accused Sam Altman and the company of abandoning its open-source, safety-focused mission after partnering with Microsoft for billions. He warned that advanced AI could arrive next year, either boosting prosperity or posing existential dangers, and urged instilling human values early. OpenAI's lawyers countered that Musk supported the for-profit move and sought control himself, while the trial could force a nonprofit return or massive damages. (Media Man Peg-On: Musk vs The Rest)!

News

The crypto market is falling, but Doge is on the rise

Market Overview

The crypto market cap has fallen by 1.09% over the past 24 hours to $2.53 trillion. This marks the third consecutive day of a gradual market decline, which appears to be a technical shake-out rather than a trend reversal. Dogecoin (+3.3%) is once again leading the gains, along with Tron (+0.6%) and Aptos (+0.1%).

Among the underperformers are Aave (-5.7%), Trumpcoin (-5.3%) and The Graph (-5.3%).

Bitcoin is leading the decline in cryptocurrencies, having switched to a sell-on-rally mode over the last three days. This is clearly visible in the intraday pattern of recent days, where a gradual rise has given way to a decline at roughly the same pace. If we view the latest move as a technical correction, its potential target appears to be the area around $74K, where the 61.8% Fibonacci retracement line lies. The March peak levels also lie here, reinforcing the significance of this level.

Dogecoin stands out modestly from the crowd of altcoins, leading the growth of top coins for the third day in a row and marking the fifth week of an uptrend. The $0.087 area has become a pivot point, where the coin also saw steady demand in 2024 and where there were strong buy orders on the slippage in October 2025. At the same time, current prices near $0.105 are more than 20% above that level, indicating the start of a bull market, according to traditional financial metrics. It is still too early to speculate on expectations of multiple-fold growth, as was the case two years ago, since this would require a radical shift of all cryptocurrencies into a bull market. But who knows, perhaps we are seeing the first signs of recovery after the crypto winter?

News Background

The crypto market entered a neutral phase in the second quarter: there is no clear trend, and economic and political factors are having a key influence on market dynamics, according to Coinbase. Events in the Middle East and fluctuations in oil prices remain among the main drivers.

Net inflows of Bitcoin to trading platforms have risen to 30-day highs, notes analyst Woominkyu. In his view, whales are transferring assets to exchanges for subsequent sale.

Spot trading volumes for Bitcoin on leading exchanges have fallen to their lowest levels since September–October 2023, notes analyst Darkfost. Alphractal also highlights the cooling of investor interest. The number of Google searches for cryptocurrencies has reached a three-year low.

73% of respondents believe Bitcoin's current price is undervalued, according to a survey of 100 institutional and private investors conducted by Coinbase and Glassnode. They remain cautiously optimistic and expect most digital assets to recover within the quarter.

The Governor of the Czech National Bank has proposed adding Bitcoin to the central bank’s reserves to help control inflation. Despite its volatility, BTC could generate long-term returns, so it makes sense to allocate 1% of the state reserves to it. (FxPro)

News

April 28

Pop Culture/Pro Wrestling/WWE/NXT

EVIL From Japan Makes NXT Debut; Faced Off With Tony D!

Blake Monroe Buried in Dramatic NXT Graveyard Farewell; The Glamour Heading To Main Roster

NXT's Ricky Saints Heading To WWE SmackDown

News

Google, Meta shift $11b offshore, pay just $140m in tax

Technology firms Meta and Google have come under ongoing criticism over the fact that they seem to pay very little tax on the huge amount of revenue they generate in Australia. The criticism comes in particular from companies that must compete with them, including banks and media companies, while the federal government is set to force them to enter into commercial agreements with Australian news publishers. The criticism regarding the low amount of tax that Google and Meta is not likely to go away, given the revelation that they transferred almost $11 billion to offshore entities in service fees and reseller payments over the past year, but only paid just over $140 million in tax. (RMS)

News

Elon Musk's OpenAI Trial Jury Selected in Oakland

Jury selection finished Monday in federal court in Oakland, California, for Musk's civil suit against OpenAI, Sam Altman, and Greg Brockman. Musk, who helped launch the nonprofit in 2015 with $45 million and no equity, claims its for-profit pivot—now valued at $852 billion—betrays the original mission of open AGI for humanity's benefit. He's seeking to unwind the structure and potential $134 billion in damages, while OpenAI calls the case baseless jealousy; opening statements start Tuesday with testimony from Altman and Microsoft CEO Satya Nadella expected. The jury's findings will guide Judge Yvonne Gonzalez Rogers in a trial set to last two to four weeks. (Media Man Peg-On): Musk vs Altman. Pick'em Title, Who you got?!

News

News Lead Up

WWE/Pop Culture

Paul Heyman Praises Lil Yachty Amid WWE Celebrity Backlash

On SmackDown, Yachty celebrated new U.S. Champion Trick Williams' WrestleMania 42 victory over Sami Zayn, but Zayn ambushed them unmasked as a Gingerbread Man with a Helluva Kick. Paul Heyman endorsed Yachty as a respectful crossover star who honors WWE's history and fans, countering backlash from viewers upset over recent talent cuts like Aleister Black and Karrion Kross. While some fans call it unwanted filler, others praise the fun energy as WWE balances celebrities with homegrown stories ahead of Backlash. (Media Man Peg-On): We're going with Heyman on this. Yachty is great and over with the audience for the most part.

News

UFC/MMA

(Australia)

UFC Fight Night in Perth Features Main Event Between Jack Della Maddalena and Carlos Prates

UFC Fight Night is set for Perth, Western Australia, headlined by a welterweight bout between top-ranked fighters Jack Della Maddalena and Carlos Prates. The event, promoted as UFC Perth, airs live on Paramount Plus. (Media Man Peg-On): On paper this Fight Night down under should be stronger/better than some of their previous fight nights are far as match quality.

News

Pop Culture/Lucha Libre

AAA Announces New General Manager Reveal on May 23

On the April 25 episode of AAA on Fox, President Marisela Peña announced that Lucha Libre AAA Worldwide will get a new General Manager, with the live reveal set for May 23 in Mexico City. This follows her son Dorian Roldán's recent plea for the role, which she decided to open to other candidates after careful thought. Fans are speculating on names like Zelina Vega, Rey Mysterio, or even The Undertaker, amid AAA's growth since WWE's majority stake acquisition last April and its new Fox broadcasts blending lucha action with WWE polish. (Media Man Peg-On): Ariba. Triple A has massive influence from The Undertaker, and it's paying off as far as entertainment value for fans and in other creative and business ways from what we see and hear. Can see see Danhausen in Triple H also? Lucha Hausen!

News Lead Up

April 23

(Wall St, New York) : April 24 (Sydney, Australia)

UFC - MMA Building Stars Again

New York Kind Of Feeling

US Stocks - Black Friday - Black-ish Thursday into Friday

Post WrestleMania; Road To WWE Backlash 2026

WWE Management And Wrestlers Bullish; Wrestling and Boxing

Sports Biz Event Tickets And Merch Drive

Danhausen Lifts WWE Merch Hausen

Traditional Big Tech Sector Takes Big Hit April 23

Media Man Group Weekly Series

News Lead Up

ASX 200 futures down 4 points: 0.1% to 8828

AUD -0.4% to US71.30¢

Bitcoin $78,168.22 +0.52%

Dogecoin $0.09776 +2.24%

Ripple aka XRP $1.4374 +1.48%

News

News Flashback

November 2025

Polymarket Partnership Could Be a Game Changer for TKO Group Holdings (TKO)

Nov 17

(In Case You Missed It)

Polymarket/UFC/TKO

Polymarket recently announced a multi-year partnership making it the Official and Exclusive Prediction Market Partner for UFC and Zuffa Boxing, introducing real-time fan prediction metrics directly into UFC broadcasts and social media experiences.

This collaboration marks the first time major sports organizations have integrated prediction market technology into the live fan experience, creating new ways for audiences to interact and for TKO's sports brands to differentiate themselves.

We'll explore how this innovative fan engagement initiative could strengthen TKO Group Holdings' investment narrative by deepening audience connection and content value.

What Is TKO Group Holdings' Investment Narrative?

To see the value in TKO Group Holdings as a shareholder, you really have to believe in its ability to keep building out top sports entertainment brands like UFC and WWE into global, multi-platform franchises. A lot of the story is about continuing to grow earnings and revenue faster than the overall market, attract loyal audiences, and evolve with changes in media rights, streaming, and digital fan engagement. Recent announcements, such as the multi-year partnership with Polymarket, reflect TKO’s push to unlock new monetization avenues and deepen fan involvement.

However, it’s unlikely this news will materially change the core short-term catalysts, which are still dominated by performance in key international deals, broadcast partnerships, and the rollout of new events. The biggest risks remain legal challenges, compression of media rights value, and questions about board experience. The new fan engagement efforts add differentiation, but don’t directly reduce these core risks for now. On the flip side, investors should pay close attention to ongoing legal proceedings against TKO and UFC.

TKO Group Holdings' shares have been on the rise but are still potentially undervalued by 15%.

Ten retail investors in the Simply Wall St Community produced fair value estimates for TKO ranging from US$63.92 to a very large US$37,618.47. While community views can be widely split, ongoing legal challenges remain a topic several market participants keep circling back to as a concern for TKO’s future performance. Explore these diverse perspectives and see how the risks and opportunities stack up.

Historical Data and Intel

TKO Group: News

News Flashback

Insider Buying and Selling at TKO Group

In related news, Director Nick Khan sold 45,168 shares of the company's stock in a transaction on Monday, July 21st. The shares were sold at an average price of $170.82, for a total value of $7,715,597.76. Following the completion of the sale, the director owned 156,494 shares in the company, valued at $26,732,305.08. This represents a 22.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission. Over the last 90 days, insiders sold 73,725 shares of company stock valued at $12,767,807. Corporate insiders own 61.30% of the company's stock.

Wall Street Analyst Weigh In

TKO has been the subject of a number of recent analyst reports. Baird R W raised TKO Group to a "strong-buy" rating in a research report on Friday, September 5th. Zacks Research upgraded TKO Group from a "strong sell" rating to a "hold" rating in a research note on Tuesday, September 2nd. Bank of America upped their target price on TKO Group from $200.00 to $210.00 and gave the company a "buy" rating in a report on Tuesday, August 12th. Robert W. Baird began coverage on TKO Group in a report on Friday, September 5th. They set an "outperform" rating and a $225.00 target price for the company. Finally, Roth Capital raised their target price on TKO Group from $208.00 to $210.00 and gave the company a "buy" rating in a research report on Tuesday, August 12th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $192.21.

TKO Group Stock Up 0.0%

Shares of NYSE:TKO traded up $0.09 during midday trading on Friday, hitting $202.33. 897,072 shares of the stock were exchanged, compared to its average volume of 683,611. TKO Group Holdings, Inc. has a 52-week low of $114.01 and a 52-week high of $204.10. The business's fifty day simple moving average is $178.94 and its two-hundred day simple moving average is $165.22. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.30 and a current ratio of 1.30. The company has a market capitalization of $40.12 billion, a PE ratio of 83.61 and a beta of 0.79.

TKO Group (NYSE:TKO) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.06). TKO Group had a net margin of 5.40% and a return on equity of 2.82%. The business had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same period in the prior year, the business posted $0.72 earnings per share. The company's revenue for the quarter was up 53.7% compared to the same quarter last year. As a group, research analysts predict that TKO Group Holdings, Inc. will post 3.88 earnings per share for the current fiscal year.

TKO Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be paid a $0.76 dividend. This is an increase from TKO Group's previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Monday, September 15th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 1.5%. TKO Group's dividend payout ratio (DPR) is currently 62.81%.

TKO Group Profile

TKO Group Holdings, Inc operates as a sports and entertainment company. The company produces and licenses live events, television programs, and long-form and short-form content, reality series, and other filmed entertainment on digital and linear channels and via pay-per-view. It is involved in the merchandising of video games, apparel, equipment, trading cards, memorabilia, digital goods, and toys, as well as sale of travel packages and tickets.

News Flashback

TKO Group Holdings, Inc. is an American sports and sports entertainment company. Established on September 12, 2023, the public company was formed by a merger between Endeavor subsidiary Zuffa—the parent company of mixed martial arts promotion Ultimate Fighting Championship —and the professional wrestling promotion World Wrestling Entertainment. TKO is led by CEO Ari Emanuel and president Mark Shapiro, both of Endeavor; Dana White and Nick Khan retained their roles as CEOs of UFC and WWE respectively upon the merger, while WWE co-founder Vince McMahon served as executive chairman until resigning from the company in January 2024 amid a sex trafficking scandal. The merger marked the first time that WWE has not been solely and primarily majority-controlled by the McMahon family, which founded the company and owned it for over 70 years. As of 2024, the UFC and WWE were the two most valuable combat sports organizations in the world according to Forbes. UFC was listed as the most valued mixed martial arts company with a revenue of $1.406 billion and WWE being the most valued professional wrestling promotion with a revenue of $1.398 billion in 2023. (Wikipedia)

TKO owns iconic properties including UFC, the world’s premier mixed martial arts organization; WWE, the global leader in sports entertainment; and PBR, the world’s premier bull riding organization. Together, these properties reach 210 countries and territories and organize more than 500 live events year-round, attracting more than three million fans.

TKO also services and partners with major sports rights holders through IMG, an industry-leading global sports marketing agency; and On Location, a global leader in premium experiential hospitality. (Credit: TKO Group)

News

Best Quotes Of The Day

"An investment in ones self is always the best bet" Greg Tingle, Media Man Group

Media Man

 

 

Markets, Cryptos and Culture

FinTech, Big Tech, Big Biz

LinkedIn b2b Business Lifts For Media Man Group and Associates

TKO/WWE In And Out Of The Ring Continues; Up and Down Cycle; TKO's Nick Khan Offers Positive Vibes To US Admin Re Ali Act Amendment; TKO's LinkedIn Enjoys Strong News Media Buzz; Google LinkedIn Numbers Up; Media Man LinkedIn and X Up; TKO News Flashbacks

Google/Alphabet Earnings

April 30, 2026

(Sydney, Australia To Wall Street, New York)

ASX 200 futures down 69 points/0.8%: 8627

AUD -0.9% to US71.17¢

Bitcoin - $75,808.20 -0.71%

Wall St:

Dow -0.6%
S&P -0.04%
Nasdaq +0.04%

VIX +0.98 to 18.81
Gold +0.03% to $US4549.45 an ounce
Brent oil +8.9% to $US120.19 a barrel
Iron ore +0.6% to $US107.05 a tonne
10-year yield: US 4.43% Australia 4.99%

Coffee 290.70 flat!

Cocoa 3403.83 +23.83

Numbers Double Check

April 30

Australian Dollar: $0.7110 USD (down $0.0070 USD)
Iron Ore: $107.05 USD (up $0.65 USD)
Oil Price (WTI): $108.49 USD (up $8.87 USD)
Gold Price : $4,543.97 USD (down $52.22 USD)
Copper Price: $5.9265 USD (up $0.0070 USD)
Dow Jones: 48,861.81 (down 280.12 points)

Shares

TKO Group Holdings Inc
$183.71
-0.87 -0.47%

Alphabet Inc Class A
$349.94
+0.13 +0.037%

NVIDIA Corp
$209.25
-3.82 -1.79%

News

Alphabet, Microsoft, Amazon, and Meta Platforms Report Q1 2026 Earnings Beating Expectations

Alphabet reported Q1 2026 revenue of $109.9 billion and EPS of $5.11, surpassing estimates, with Google Cloud revenue up 63% to $20 billion.

Microsoft reported fiscal Q3 2026 revenue of $82.89 billion and EPS of $4.27, beating expectations, driven by 39-40% Azure growth.

Amazon reported Q1 2026 revenue of $181.5 billion and EPS of $2.78 exceeding forecasts, with AWS up 28%, while Meta reported Q1 2026 revenue of $56.3 billion and EPS of $10.44 above estimates.

News

Biz (Aust)

April 30

ASX falls for seventh straight day; G8 tanks

The Australian sharemarket lost ground on Wednesday, amid growing expectations of an official interest rate rise next week in response to the latest inflation data; the S&P/ASX 200 fell 0.3 per cent to close at 8,687 points. Newmont Corporation was down 3.2 per cent at $153.58, Cochlear shed 3.2 per cent to end the session at $90 and G8 Education shed 31.3 per cent to finish at $0.165. However, oOh!media rose 32.9 per cent to $1.13 in response to a takeover bid and Codan was up 15.5 per cent at $42. (RMS)

News

The crypto takes a breather after growth

Market Overview

The crypto market capitalisation has changed little over the past 24 hours, hovering around $2.57 trillion, with assets moving in different directions. Markets are likely to prefer a wait-and-see approach ahead of decisions by the Bank of Canada, the Fed, the ECB and the Bank of England over the next couple of days. Officially, markets are expecting a hawkish tone, so a focus on the economy could spur active buying.

The sentiment index plummeted to 26, falling below last week’s lows, reflecting a return of fear to the markets. The inability to hold above 50 since September remains a key sign of bearish sentiment.

Over the past two days, Bitcoin has lost approximately $4K from peak to trough at $75.6K, but on Wednesday, it turned higher, attempting to consolidate above $77K. Thus, Bitcoin has broken out of its upward trend but has not yet confirmed a reversal; therefore, we can only note a slowdown in growth at the 50% mark of the January-February decline.

News Background

The $80K level remains an important psychological barrier, around which a large volume of options is concentrated, GSR notes. QCP Capital considers $82K to be a key resistance level.

Bernstein regards Bitcoin’s February low of $60K as a “clear bottom” and expects a “higher and structurally longer bull cycle” going forward. The main driver of optimism remains a steady inflow of capital from institutional investors.

Bitcoin is no longer merely an “interesting asset” for companies seeking to remain competitive, Tim Draper, founder of venture capital firm Draper Associates, stated. According to him, firms must hold a portion of their reserves (5–15%) in BTC to avoid being financially irresponsible towards their shareholders.

Patrick Witt, Executive Director of the US Presidential Council on Digital Assets, announced an “important statement” regarding the US strategic Bitcoin reserve, which will be made in the coming weeks.

Bitmine, the largest publicly traded corporate holder of Ethereum, announced the acquisition of over 5 million ETH over 10 months, at an average cost of $2,369 per ETH. The company’s reserves have reached nearly 5.08 million ETH, representing 4.21% of the Ethereum supply.

News

Pop Culture/WWE

Roman Reigns Sweats Through Epic Promo Amid Arena Heat in Laredo

A power outage killed air conditioning at Sames Auto Arena, turning Monday Night Raw into a sauna with fans drenched and wrestlers glistening under pyro-lit lights. Reigns cut a fiery main event promo on Fatu's World Heavyweight Title shot at Backlash on May 9 in Tampa, listening to The Usos' warnings before greenlighting the match—only for Fatu to ambush him with a brutal Tongan Death Grip post-promo. Fans flooded social media with memes of Reigns' sweat-drenched look, declarations of stanning the champ, and hype for the Bloodline clash, proving his unbreakable draw even as some Cody Rhodes fans pushed back. (Media Man Peg-On): So pumped for the main event of WWE Backlash. We smell a Bloodline screw-job finish, but we shall see.

News

WWE NXT/Wrestling

NXT Debuts EVIL, Lizzy Rain, and Will Kroos in Roster Shake-Up

WWE NXT's April 28 episode on The CW featured six debuts, including former NJPW star EVIL's chilling arrival targeting NXT Champion Tony D'Angelo, rocker Lizzy Rain's dominant win over Nikkita Lyons with her Thunderstruck finisher, and indie powerhouse Will Kroos joining a beatdown on D'Angelo. John Cena hyped EVIL with his classic promo quote, while fans praised the secrecy around Kroos and Rain's heavy-metal entrance. Other newcomers like Tristan Angels, Kam Hendrix, and Tate Wilder added to the stacked night, setting up fresh storylines for titles and rivalries. (Media Man Peg-On): NXT needed some fresh faces and new blood to replace some of the WWE main roster call-ups; Shawn Michaels and Robert Stone one again deliver. It's almost a new era kinda feeling and vibe with the shake-ups. Fans pumped for the upcoming main roster debuts of Blake Monroe and Ricky Saints.

News

Pop Culture

Danhausen Reunites with Jade Cargill in WWE Photoshoot Throwback

The surprise images dropped Tuesday, showing Danhausen in full vampire gear posing dynamically with Cargill, who rocked a white fur bodysuit and championship belt. It's a nod to their fun AEW days, where Danhausen debuted his 'very nice, very evil' persona before crossing to WWE this year with stunts like emerging from a crate at Elimination Chamber and teaming with John Cena at WrestleMania 42. Jadehausen!?

News

April 28

Pop Culture/Pro Wrestling/WWE/NXT

EVIL From Japan Makes NXT Debut; Faced Off With Tony D!

Blake Monroe Buried in Dramatic NXT Graveyard Farewell; The Glamour Heading To Main Roster

NXT's Ricky Saints Heading To WWE SmackDown

News

Google, Meta shift $11b offshore, pay just $140m in tax

Technology firms Meta and Google have come under ongoing criticism over the fact that they seem to pay very little tax on the huge amount of revenue they generate in Australia. The criticism comes in particular from companies that must compete with them, including banks and media companies, while the federal government is set to force them to enter into commercial agreements with Australian news publishers. The criticism regarding the low amount of tax that Google and Meta is not likely to go away, given the revelation that they transferred almost $11 billion to offshore entities in service fees and reseller payments over the past year, but only paid just over $140 million in tax. (RMS)

News

Elon Musk's OpenAI Trial Jury Selected in Oakland

Jury selection finished Monday in federal court in Oakland, California, for Musk's civil suit against OpenAI, Sam Altman, and Greg Brockman. Musk, who helped launch the nonprofit in 2015 with $45 million and no equity, claims its for-profit pivot—now valued at $852 billion—betrays the original mission of open AGI for humanity's benefit. He's seeking to unwind the structure and potential $134 billion in damages, while OpenAI calls the case baseless jealousy; opening statements start Tuesday with testimony from Altman and Microsoft CEO Satya Nadella expected. The jury's findings will guide Judge Yvonne Gonzalez Rogers in a trial set to last two to four weeks. (Media Man Peg-On): Musk vs Altman. Pick'em Title, Who you got?!

News

WWE

WWE Raw Hits Laredo with Rollins-Reigns Tension and Backlash Build

Monday Night Raw airs live at 8 p.m. ET from Sames Auto Arena in Laredo, Texas, exclusively on Netflix, featuring Seth Rollins opening with words for Roman Reigns and Reigns responding to Jacob Fatu's title challenge at Backlash. Bayley and Lyra Valkyria face Roxanne Perez and Raquel Rodriguez in tag action, while Becky Lynch returns after reclaiming her Women's Intercontinental Championship at WrestleMania to address challengers. Joe Hendry performs a live concert, and fan cards highlight matches like Penta El Zero Miedo vs. Rusev, all building hype toward Backlash.

News Lead Up

April 27

The crypto market has yet to satisfy sellers

Market Overview

The crypto market capitalisation rose to $2.64T in the early hours of Monday but quickly retreated to the $2.60T level that has held steady over the past five days. Bears are aggressively defending the level from which the active sell-off began in February and where local highs were also seen earlier in April. Over the past seven days, the cryptocurrency market has gained 2.8%, with Zcash (+15%), Algorand (+12%) and Cosmos (+9%) leading the way, while Trump (-10%), Theta Network (-2.5%) and Polkadot (-2.3%) lagged.

The sentiment index has risen to 47, entering neutral territory and reaching its highest level since the second half of January. Since last August, the indicator has spent no more than a few consecutive days above 50, the first sign of a bear market. In the short term, approaching this level increases the risk of a fresh wave of selling. But don’t rush to side with the sellers until the situation becomes clearer, as a bear market does not last forever.

Bitcoin has approached the $80K mark for the second time in the last few days, but has since experienced significant downward momentum. As it approaches this round figure, a build-up of sell orders is preventing the coin from moving further upwards. For now, we consider this situation to be temporary, as the corrective pullbacks fit within the uptrend formed at the end of March.

News Background

Bitcoin has entered a new phase amid the return of US retail investors to the market, Galaxy Digital CEO Mike Novogratz said. In his view, the combination of retail demand, institutional capital and limited supply creates the foundation for further growth.

Over a short period, sentiment among Bitcoin investors has shifted sharply — from pronounced pessimism to fear of missing out (FOMO), according to Santiment. Crypto whales have increased their holdings by more than 40,000 BTC over the past two weeks.

CryptoQuant, on the other hand, believes that Bitcoin’s recent rise above $79K was driven primarily by a short squeeze in the derivatives market, rather than sustained demand in the spot market. Large-scale short covering is making the market vulnerable.

Japanese company Metaplanet, one of the largest corporate holders of Bitcoin, has announced the issuance of $50 million in bonds to finance new purchases of the leading cryptocurrency.

The infrastructure of traditional finance and blockchains began to form a unified system in 2026, according to CoinShares. Stablecoins remain the largest segment of hybrid finance.

A quantum computer has, for the first time, cracked a 15-bit elliptic curve cryptographic key — the mathematical basis of digital signature schemes that ensure the security of Bitcoin networks and most blockchains. (FxPro)

News

WWE/Pop Culture

Paul Heyman Praises Lil Yachty Amid WWE Celebrity Backlash

On SmackDown, Yachty celebrated new U.S. Champion Trick Williams' WrestleMania 42 victory over Sami Zayn, but Zayn ambushed them unmasked as a Gingerbread Man with a Helluva Kick. Paul Heyman endorsed Yachty as a respectful crossover star who honors WWE's history and fans, countering backlash from viewers upset over recent talent cuts like Aleister Black and Karrion Kross. While some fans call it unwanted filler, others praise the fun energy as WWE balances celebrities with homegrown stories ahead of Backlash. (Media Man Peg-On): We're going with Heyman on this. Yachty is great and over with the audience for the most part.

News

UFC/MMA

(Australia)

UFC Fight Night in Perth Features Main Event Between Jack Della Maddalena and Carlos Prates

UFC Fight Night is set for Perth, Western Australia, headlined by a welterweight bout between top-ranked fighters Jack Della Maddalena and Carlos Prates. The event, promoted as UFC Perth, airs live on Paramount Plus. (Media Man Peg-On): On paper this Fight Night down under should be stronger/better than some of their previous fight nights are far as match quality.

News

Pop Culture/Lucha Libre

AAA Announces New General Manager Reveal on May 23

On the April 25 episode of AAA on Fox, President Marisela Peña announced that Lucha Libre AAA Worldwide will get a new General Manager, with the live reveal set for May 23 in Mexico City. This follows her son Dorian Roldán's recent plea for the role, which she decided to open to other candidates after careful thought. Fans are speculating on names like Zelina Vega, Rey Mysterio, or even The Undertaker, amid AAA's growth since WWE's majority stake acquisition last April and its new Fox broadcasts blending lucha action with WWE polish. (Media Man Peg-On): Ariba. Triple A has massive influence from The Undertaker, and it's paying off as far as entertainment value for fans and in other creative and business ways from what we see and hear. Can see see Danhausen in Triple H also? Lucha Hausen!

News Lead Up

April 23

(Wall St, New York) : April 24 (Sydney, Australia)

UFC - MMA Building Stars Again

New York Kind Of Feeling

US Stocks - Black Friday - Black-ish Thursday into Friday

Post WrestleMania; Road To WWE Backlash 2026

WWE Management And Wrestlers Bullish; Wrestling and Boxing

Sports Biz Event Tickets And Merch Drive

Danhausen Lifts WWE Merch Hausen

Traditional Big Tech Sector Takes Big Hit April 23

Media Man Group Weekly Series

News Lead Up

ASX 200 futures down 4 points: 0.1% to 8828

AUD -0.4% to US71.30¢

Bitcoin $78,168.22 +0.52%

Dogecoin $0.09776 +2.24%

Ripple aka XRP $1.4374 +1.48%

Wall St:

Dow -0.4%

S&P -0.4%

Nasdaq -0.9%

VIX +0.39 to 19.31

Gold -1% to $US4694.14 an ounce

Brent oil +4.5% to $US106.44 a barrel

Iron ore -0.6% to $US106.65 a tonne

10-year yield: US 4.32% Australia 5.00%

News

News Flashback

November 2025

Polymarket Partnership Could Be a Game Changer for TKO Group Holdings (TKO)

Nov 17

(In Case You Missed It)

Polymarket/UFC/TKO

Polymarket recently announced a multi-year partnership making it the Official and Exclusive Prediction Market Partner for UFC and Zuffa Boxing, introducing real-time fan prediction metrics directly into UFC broadcasts and social media experiences.

This collaboration marks the first time major sports organizations have integrated prediction market technology into the live fan experience, creating new ways for audiences to interact and for TKO's sports brands to differentiate themselves.

We'll explore how this innovative fan engagement initiative could strengthen TKO Group Holdings' investment narrative by deepening audience connection and content value.

What Is TKO Group Holdings' Investment Narrative?

To see the value in TKO Group Holdings as a shareholder, you really have to believe in its ability to keep building out top sports entertainment brands like UFC and WWE into global, multi-platform franchises. A lot of the story is about continuing to grow earnings and revenue faster than the overall market, attract loyal audiences, and evolve with changes in media rights, streaming, and digital fan engagement. Recent announcements, such as the multi-year partnership with Polymarket, reflect TKO’s push to unlock new monetization avenues and deepen fan involvement.

However, it’s unlikely this news will materially change the core short-term catalysts, which are still dominated by performance in key international deals, broadcast partnerships, and the rollout of new events. The biggest risks remain legal challenges, compression of media rights value, and questions about board experience. The new fan engagement efforts add differentiation, but don’t directly reduce these core risks for now. On the flip side, investors should pay close attention to ongoing legal proceedings against TKO and UFC.

TKO Group Holdings' shares have been on the rise but are still potentially undervalued by 15%.

Ten retail investors in the Simply Wall St Community produced fair value estimates for TKO ranging from US$63.92 to a very large US$37,618.47. While community views can be widely split, ongoing legal challenges remain a topic several market participants keep circling back to as a concern for TKO’s future performance. Explore these diverse perspectives and see how the risks and opportunities stack up.

Historical Data and Intel

TKO Group: News

News Flashback

Insider Buying and Selling at TKO Group

In related news, Director Nick Khan sold 45,168 shares of the company's stock in a transaction on Monday, July 21st. The shares were sold at an average price of $170.82, for a total value of $7,715,597.76. Following the completion of the sale, the director owned 156,494 shares in the company, valued at $26,732,305.08. This represents a 22.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission. Over the last 90 days, insiders sold 73,725 shares of company stock valued at $12,767,807. Corporate insiders own 61.30% of the company's stock.

Wall Street Analyst Weigh In

TKO has been the subject of a number of recent analyst reports. Baird R W raised TKO Group to a "strong-buy" rating in a research report on Friday, September 5th. Zacks Research upgraded TKO Group from a "strong sell" rating to a "hold" rating in a research note on Tuesday, September 2nd. Bank of America upped their target price on TKO Group from $200.00 to $210.00 and gave the company a "buy" rating in a report on Tuesday, August 12th. Robert W. Baird began coverage on TKO Group in a report on Friday, September 5th. They set an "outperform" rating and a $225.00 target price for the company. Finally, Roth Capital raised their target price on TKO Group from $208.00 to $210.00 and gave the company a "buy" rating in a research report on Tuesday, August 12th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $192.21.

TKO Group Stock Up 0.0%

Shares of NYSE:TKO traded up $0.09 during midday trading on Friday, hitting $202.33. 897,072 shares of the stock were exchanged, compared to its average volume of 683,611. TKO Group Holdings, Inc. has a 52-week low of $114.01 and a 52-week high of $204.10. The business's fifty day simple moving average is $178.94 and its two-hundred day simple moving average is $165.22. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.30 and a current ratio of 1.30. The company has a market capitalization of $40.12 billion, a PE ratio of 83.61 and a beta of 0.79.

TKO Group (NYSE:TKO) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.06). TKO Group had a net margin of 5.40% and a return on equity of 2.82%. The business had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same period in the prior year, the business posted $0.72 earnings per share. The company's revenue for the quarter was up 53.7% compared to the same quarter last year. As a group, research analysts predict that TKO Group Holdings, Inc. will post 3.88 earnings per share for the current fiscal year.

TKO Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be paid a $0.76 dividend. This is an increase from TKO Group's previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Monday, September 15th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 1.5%. TKO Group's dividend payout ratio (DPR) is currently 62.81%.

TKO Group Profile

TKO Group Holdings, Inc operates as a sports and entertainment company. The company produces and licenses live events, television programs, and long-form and short-form content, reality series, and other filmed entertainment on digital and linear channels and via pay-per-view. It is involved in the merchandising of video games, apparel, equipment, trading cards, memorabilia, digital goods, and toys, as well as sale of travel packages and tickets.

News Flashback

TKO Group Holdings, Inc. is an American sports and sports entertainment company. Established on September 12, 2023, the public company was formed by a merger between Endeavor subsidiary Zuffa—the parent company of mixed martial arts promotion Ultimate Fighting Championship —and the professional wrestling promotion World Wrestling Entertainment. TKO is led by CEO Ari Emanuel and president Mark Shapiro, both of Endeavor; Dana White and Nick Khan retained their roles as CEOs of UFC and WWE respectively upon the merger, while WWE co-founder Vince McMahon served as executive chairman until resigning from the company in January 2024 amid a sex trafficking scandal. The merger marked the first time that WWE has not been solely and primarily majority-controlled by the McMahon family, which founded the company and owned it for over 70 years. As of 2024, the UFC and WWE were the two most valuable combat sports organizations in the world according to Forbes. UFC was listed as the most valued mixed martial arts company with a revenue of $1.406 billion and WWE being the most valued professional wrestling promotion with a revenue of $1.398 billion in 2023. (Wikipedia)

TKO owns iconic properties including UFC, the world’s premier mixed martial arts organization; WWE, the global leader in sports entertainment; and PBR, the world’s premier bull riding organization. Together, these properties reach 210 countries and territories and organize more than 500 live events year-round, attracting more than three million fans.

TKO also services and partners with major sports rights holders through IMG, an industry-leading global sports marketing agency; and On Location, a global leader in premium experiential hospitality. (Credit: TKO Group)

News

Best Quotes Of The Day

"An investment in ones self is always the best bet" Greg Tingle, Media Man Group

 

Markets, Cryptos and Pop Culture

Culture In Biz Series Edition
Thank God It's Friday For Sin City Sydney

December To Remember

Dec 12
Sydney, Australia

Dec 11
Wall Street, New York Groove

Cryptos Struggling; All That Glitters
TKO To Naysayers Again!
World Streaming Wars
Online Media vs Legacy Media: Disruptors

Media Pop Culture Theme: "Another Brick In The Wall" aka "We Don't Need No Education" (Pink Floyd)
"Schools Out" (Alice Cooper)
Silicon Valley theme: "Stretch Your Face" (Tobacco)
"The Social Network" (score album for film)
"Hall of Fame" (The Script)
"Eight Days a Week" (The Beatles)
"The Wolf of Wall Street" ("Mercy, Mercy, Mercy" (Cannonball Adderley)
"Friday On My Mind" (The Easybeats)

December 12, 2025

Sin City Sydney, Australia

ASX futures up 96 points/1.1% to 8687

Wall Street:

S&P 500 +0.2%
Dow Jones +1.4%
Nasdaq -0.3%

Europe

Stoxx 50 +0.8%
FTSE +0.5%
DAX +0.7%
CAC +0.8%

Australian dollar at 66.39 US cents

Bitcoin $92,885.97 +0.52%

Gold flat: $US4205.79 per ounce
US oil -1.2% to $US57.78 a barrel
Brent crude -1.2% to $US61.46 a barrel
Iron ore -1% to $US101.75 per ton

10-year yield:
US 4.14%
Australia 4.72%
Germany 2.84%

Bitcoin

Bitcoin: (Near Live) $92,885.97 +0.52%

Ethereum $3,249.65 -2.76%

XRP $2.0508 +0.03%

News Update: (Near Live)

News

New York/Wall St via Mr Wolf!
December To Remember!

Dec 11
After The Bell; Bells To Be Rung

NYC!

Cryptos Today: (Near Live)

Cryptos tarnished again!

Bitcoin $93,473.79 +1.16%

Market ups and downs! Mood: Medium: Still picking up a little. Play the long game?! Hardcores keep dream, as always!

Media Man Favs:

(Near Live)

Bells Rung by Mr Wolf!
TKO hulks up! Going for submission on competitors?!
Christmas Grinch vs Santa.
Miners on hunt. Gamers full speed instead of socials.. Tech heads grapplers watch streaming wars!
NYSE Bell Ringers With Trees! Prep for new Season's Beatings!
TKO kicks out again heading towards Saturday Night's Main Event via Friday Night SmackDown!

Wall St, New York

TKO Group Holdings Inc $204.30 +7.36 +3.74%
NVIDIA Corp $180.93 -2.85 -1.55%
Formula One Group Series $86.66 +1.42 +1.67%
Alphabet Inc Class A $312.43 -7.78 -2.43%
News Corp Class A $26.10 -0.020 -0.077%
Netflix Inc $94.09 +1.38 +1.49%
Caterpillar Inc $625.61 +10.26 +1.67%
Trump Media & Technology Group Corp $10.91
-0.39 -3.45%
Tesla Inc $446.87 -4.58 -1.02%
Walt Disney Co $111.46 +2.63 +2.42%
Wynn Resorts Ltd $124.85 +1.25 +1.01%
Meta Platforms Inc $652.71 +2.58 +0.40%
Elders ADR $19.73 (US) (NYSE)
Mercedes Benz Group ADR $17.91 +0.11 +0.62%
Rio Tinto Ltd $90.59 (US)
Paramount Skydance Corp $14.12 -0.60 -4.08%
Red Light Holland Corp $0.021 +0.00261 +4.33%
Volvo ADR (parent/owner of Muck Trucks) $32.06
+0.70 +2.23%
Porsche Automobile Holding SE Unsponsored Germany ADR $4.78 +0.070 +1.49%
Microsoft $483.47 +4.91 +1.03%

News

Global Markets React to Central Bank Decisions and Policy Outlooks

Stock indices

The Fed managed to please the American stock market by easing its policy and forecasting an increase in GDP from 1.8% to 2.3%, as well as a slowdown in inflation from 3% to 2.5% in 2026, while also discussing the positive impact of AI on productivity. As a result, the S&P500 experienced its most dramatic reaction to an FOMC meeting since March, and the Russell 2000 set a new record.

A strong economy and inflation heading towards the 2% target present a prime opportunity for stocks. Along with increased productivity, this indicates that S&P500 companies may see growth in corporate earnings. Historical episodes in which the Fed cut rates and markets were near their peaks have shown higher levels 12 months later in every case.

However, expectations for the next rate cut have now shifted to April, removing the indexes safety buffer. There may be renewed talk of a tech giant bubble, as evidenced by Oracle's shares plunging sharply after the company reported disappointing earnings.

According to Yardeni Research, investors should diversify away from the "Magnificent Seven" and seek opportunities in other issuers, as artificial intelligence is transforming nearly every company into a technology firm.

What is ahead

The key events of the third week of December will be the release of US labour market data for October and November, as well as central bank meetings. The ECB, the Bank of England and the Bank of Japan will have their say. Investors will also pay attention to European business activity data for December.

Jerome Powell says that FOMC officials have similar views on the US economy but differ in their assessment of its risks. Hawks are concerned about high inflation, while doves are worried about the cooling labour market. If employment figures disappoint, derivatives will shift expectations of monetary policy easing from April to March, and possibly even January. This will weaken the dollar. On the other hand, a pleasant surprise from non-farm payrolls will allow the USD to recoup some of its losses.

While no changes are expected from the ECB, the Bank of England is 90% likely to cut its repo rate to 3.75%. However, the negative is already priced into the pound, and in the event of hawkish comments, the pound could strengthen. The fate of the yen will depend on the outlook for the Bank of Japan's leadership. Few doubt that the overnight rate will be raised, but what next? (FxPro)

News

'I love solving puzzles': How AFP's crypto sleuth tracks ill-gotten gains

Abigail Gibson is the Australian Federal Police's only cryptocurrency forensic accountant, a role she has held since 2022, after she first joined the AFP as a forensic accountant in 2017. Gibson uses blockchains to look for clues that might be able to connect individuals to money laundering, scams or sales of illicit goods and services on the dark web, and she says that "cryptocurrency is a well-established method for criminals to attempt to hide their wealth and transfer assets". Her work includes aiding the AFP's Criminal Asset Confiscation Taskforce, which has frozen $65 million in cryptocurrency assets since July. (AFR)

News

Miners lift ASX after Fed; Oracle hits tech

The Australian sharemarket posted a small gain on Thursday, with the S&P/ASX 200 adding 0.2 per cent to close at 8,592. The resources sector was bolstered by a rise in the gold price after the US Federal Reserve's decision to reduce the cash rate for a third time; Ramelius Resources advanced 6.7 per cent to $3.81 and Rio Tinto was up 1.8 per cent at $140.01. However, a sharp fall in Oracle's share price weighed on local technology stocks, with WiseTech Global shedding 2.2 per cent to end the session at $70.99. (AFR/Roy Morgan Summary)

News

Dec 11

Bitcoin attempts to break the short uptrend

Market Overview

The crypto market cap has been in a see-saw pattern over the past three weeks, exhibiting a gentle uptrend that has returned to the $3.08 trillion level during a consolidation phase. With no clear trend, crypto traders have reduced their activity in altcoins, waiting for the trend to recover in the first cryptocurrency and key stock indices.

Bitcoin jumped to $94.5K on Wednesday evening in response to the Fed's announcement of a bond-buying programme and a key rate cut. But this link to stocks played a cruel joke. The fall in Oracle shares dragged the Nasdaq-100 to eight-day lows, and BTC rolled back to $90K. The market is testing the strength of the modest uptrend that has been forming since 21 November. A drop below $88K would break this trend, bolster bearish sentiment and confirm the end of the recovery rally.

News Background

Public and private companies have increased their Bitcoin reserves by 448% since the beginning of the year to 1.08 million BTC, according to Glassnode. The corporate sector remains a key driver of demand for digital gold.

ARK Invest CEO Cathie Wood believes that large companies buying cryptocurrency for long-term storage could prevent BTC from falling 75-90% as it has in the past.

Strategy founder Michael Saylor announced the company's plans to acquire as much Bitcoin as possible. Mayside Partners believes that such plans are economically unsound. This is not innovation, but cascading leverage on speculative collateral — a model that has failed time and time again.

The American Federation of Teachers (AFT) has called on the US Senate to withdraw the cryptocurrency bill on ‘responsible financial innovation,’ which will be considered next week. The organisation pointed to the risks to pension savings and the country's economy.

Twenty One Capital, a big Bitcoin holder, has entered the stock market. The company's shares fell 20% on their first day of trading on the NYSE. The firm ranks third among public holders of the first cryptocurrency with 42,000 BTC (~$3.9 billion). (FxPro)

News

Crypto market awaits the final battle of the year

Market Overview

The crypto market lost just over 1% in 24 hours to $3.08T, falling back to the consolidation levels of late November. Attempts to shake up the market at the beginning of this month were unsuccessful for both bulls and bears. Excluding this impulse, the market has been treading water for almost two weeks, hovering around the 23.6% correction rebound line from the October-November decline. Such a shallow rebound could be a sign of a strong bear market, but this will only be confirmed if November's lows of $2.73T are updated.

Bitcoin is trading near $90K, having crossed this level for the fifth consecutive day. An upward trend line can be drawn through the lows of late November, but BTC is now trading dangerously close to this line. At the same time, horizontal resistance has formed in the $92K area, bringing the positions of bulls and bears closer together over time and promising a decisive battle by the end of this week. It could not only be the last significant battle of the year but also determine the trend for the coming months.

News Background

Short positions on Bitcoin have recorded their largest outflow since March 2025, when the price of BTC was near its lows. Investors likely believe that the current surge in negative sentiment has bottomed out, according to CoinShares.

According to Glassnode, the reserves of long-term Bitcoin holders fell to a cyclical low in November. This marks the end of the spot sell-offs that have hindered market growth throughout 2025.

Ethereum exchange reserves have fallen to record lows, which could signal an imminent supply crisis, according to CryptoQuant. Since July 2025, the indicator has fallen by about 20%.

The largest American investment company, BlackRock, has applied with the SEC to register an ETF that will allow investors to earn income from staking Ethereum without directly owning the cryptocurrency.

Strategy has increased its weekly Bitcoin purchases to their highest level since July. The company bought 10,624 BTC ($963 million) last week at an average price of $90,615 per coin. Strategy now owns 660,624 BTC, purchased for $49.3 billion at an average price of $74,696 per Bitcoin. (FxPro)

News

Streaming Wars: Netflix vs Paramount (for Warner Bros) aka WBD. What's Up Doc?!

Paramount makes hostile bid for Warner Bros. Discovery

Dec 9

Paramount Skydance has directly approached Warner Bros Discovery's shareholders with a takeover offer; it has opted to bypass the rival media group's board, contending that Warner's directors have backed an "inferior proposal". Paramount has proposed a cash offer of $US30 per share, valuing its bid for the entire company at about $US108bn. It is seeking to trump Netflix's deal to acquire some of Warner's assets for around $US83bn, which has been approved by the boards of both companies. Warner has rejected Paramount's claims that its sale process had favoured a single bidder.

*Developing news story "The Streaming Wars"

News

Australia - USA Connection

Praise for Trump's review of AUKUS

Defence Minister Richard Marles says the federal government is currently "working through" the Trump administration's now-completed review of the AUKUS alliance. He adds that the US is "completely supportive" of the deal to sell nuclear-powered submarines to Australia. The review was headed by US defence official Elbridge Colby, who has been a notable critic of AUKUS in the past. The AUKUS alliance is likely to be a key focus when Marles and Foreign Minister Penny Wong hold the annual AUSMIN talks with US counterparts Pete Hegseth and Marco Rubio in Washington DC next week.

News

24 hours ago +

Developing Story

The crypto market tries to form an uptrend

Market Overview

The crypto market soared by almost 7% over the past day, reaching a capitalisation of $3.15T and forming a higher local peak compared to Sunday. The mood on the crypto market was buoyed by moves from institutional giants Vanguard and Bank of America to open access to digital assets for their clients. Combined with the fact that the low point on December 1st is higher than the lows on November 21st, we are seeing a series of vital signs of an upward trend forming. However, a conservative view suggests that fluctuations below $3.38T are a correction from the previous decline.

Bitcoin approached $94K on Wednesday morning, recovering half of its losses from the sell-off between November 11th and 21st. Considering the entire decline from its October peak, BTCUSD remains trading below $ 98K as part of the correction. The $98-100K range contains three psychologically significant levels: the 50-day average, early November support, and 61.8% of the decline from the peak. Consolidation above this level could convince buyers that crypto winter has not arrived.

News Background

Vanguard, the world's second-largest investment company by assets, will open access to crypto ETF trading for its clients on December 2nd. The company had previously stated that it would avoid Bitcoin funds because cryptocurrency is an “immature asset class” and does not fit with the company's philosophy.

Bank of America, one of the largest banks in the United States, has recommended that its institutional clients allocate 1% to 4% of their portfolios to cryptocurrencies. Previously, investors were unable to access cryptocurrencies because advisors were prohibited from recommending such instruments.

The four-year cycle theory has ceased to work, so Bitcoin has a chance to reach new highs in 2026, according to Grayscale. Analysts believe there are already some signs that Bitcoin has likely bottomed out.

News (from Friday: Sydney)

ASX up as tech stocks rally, WiseTech gains

The Australian sharemarket posted a modest gain on Thursday, with lower trading volumes ahead of Wall Street's closure for Thanksgiving Day; the S&P/ASX 200 added 0.1 per cent to close at 8,617.3 points. WiseTech Global was up 6.9 per cent at $69.72, Bellevue Gold rose 3.2 per cent to $1.29 and Reece advanced four per cent to $12.73. However, DroneShield was down 7.8 per cent at $2 and Santos fell 1.8 per cent to end the session at $6.44. (RMS)

News

The Dollar's new edge: from shield to sword

The dollar is losing its safe-haven status. • The scale of the Fed's rate cuts has been overestimated. • The yen is the main favourite for 2026.

BoJ may not raise rates until March. If the US dollar was previously a shield, it is now turning into a sword. (FxPro)

News

Pop Culture News

Dream Matches: Fantasy Booking/Sports; Media Man Group Dream Match Series; Crack The Code!

Million Dollar Man vs IRS
Michael Wall Street vs Billionaire Ted
Mr X vs Mr BTC
Mr Green vs Mr Cash
VKM vs Easy E
Vinnie Vegas vs Mr Corbin
Mr Corp Merch vs Mr Freelance
Masked Superstar vs John McAfee
Sid Justice vs Mr Blood Diamond
Mr Bluey Chipper vs Street Fighter - King Of The Streets Mr Dotcom vs Mr Wiki
Mr Gold vs Mr Green - Money In The Bank Ladder Match Khan vs Khan - Winner Take All Match
Mr Wolff vs The Cleaner
Mr News vs Mr Vice - U.S Market Footprint Stipulation Mr Paramount vs Mr Netflix
Mr ESPN vs Mr Fox
Mr Kross vs Mr Cardona
Cesaro vs Rollins
Dirty Dom vs Mr AAA
Punks vs Egos
Kross vs H
Murdoch Title vs Title
Mr Black Coffee vs Mr Claudio's Cafe Blend
Mr Warner vs Mr Netflix: Broadway draw thus far! Re-match! Winner take all?!
TMZ vs Riddle
UFC vs PFL
The Oracle vs Cincinnati, Ohio
Mr X vs Hollyweird
Succession vs Billions
Mouse House vs Art House
NFL vs UFL
ABC vs Mainstream Aussies
Reigns vs Blanka
Cody Rhodes vs Joe
E. Honda vs NJPW
Capcom vs Warner
Cena vs ACME
Combat Sports Players vs Father Time
NXT vs TNA Wrestling (Showdown, not Invasion)!
Alpha vs Meta
TED X vs The Others
WWE's Solo vs NYC and Western Australia
UFC Predator vs MMA Predator
UFC Legal vs UFC Bad Egg Betting Disruptors
Bulls vs Bears
Logan Paul vs WWE babyfaces
Santa's Helper vs Grinch
John McAfee vs FBI + + +, Running .... Netflix Wins again!
Killer Kross vs Matt Riddle - Shoot Fight/Wrestling (MLW)! Holliday working web?! Most Marketable?!
VKM vs Numerous!
MLW vs The World
The Big Event vs US Promoters
Storm vs WWE Locker Room. Lash Legend on side!
NXT Gold Rush: Page & Green vs Hendry & Hail
Baszler vs Itoh - HOG Superclash - Nov 15
MSG, NY winning with WWE and UFC in Nov
The Vision vs WWE Lockerroom
John Cena vs Dirty Dom
Miz vs Management
Jericho vs Internet Marks
Mr Gold vs Mr Fool's Gold
Neo vs Mr Smith
PBR vs Others. No Bull?!
Aus Gvt vs Big Tech
Banks vs Cryptos
NVIDIA vs World
White House vs Wokes
Packer vs Devil D
Lucha Bros vs AAA Heels
WWE Black Scorpion/Masked Man vs Babyfaces
CM Punk vs The Hood
Starks vs Oba Femi - NXT Deadline
TNA Wrestling vs Dirtsheets
TKO vs Naysayers
John Cena vs Gunther: SNME
Chris Jericho and Mr X vs IWC
Mr Netflix vs Mr Paramount

News

Crypto Movies/Docos

The Rise and Rise of Bitcoin (2014)
Follows early Bitcoin adopter Daniel Mross, exploring Bitcoin’s origins, its volatile rise, and the community behind it. Great for understanding Bitcoin’s early days and its potential to disrupt finance.

Banking on Bitcoin (2016)
Examines Bitcoin’s history, ideological roots, and impact on global financial systems through interviews with pioneers and experts. A solid primer for newcomers.

Cryptopia: Bitcoin, Blockchains, and the Future of the Internet (2020)
Directed by Torsten Hoffmann, this documentary dives into blockchain’s broader applications beyond cryptocurrency, addressing scalability and regulatory challenges. Ideal for those interested in blockchain’s transformative potential.

Trust Machine: The Story of Blockchain (2018) Narrated by Rosario Dawson, it explores blockchain’s societal impact, from financial inclusion to voting systems. A comprehensive look at real-world applications.

Bitcoin: The End of Money as We Know It (2015)
Traces the history of money and introduces Bitcoin as a decentralized alternative, critiquing centralized financial systems. Features interviews with crypto experts.

Deep Web (2015) Narrated by Keanu Reeves, this documentary focuses on the Silk Road marketplace and its creator, Ross Ulbricht, highlighting Bitcoin’s role in dark web transactions.

Bitconned (2024) Explores the Centra Tech crypto scam, detailing how three individuals defrauded investors during the 2010s crypto boom. A cautionary tale about unregulated markets.

Feature Films

Crypto (2019)
A crime thriller starring Beau Knapp, Luke Hemsworth, and Kurt Russell. It follows a young anti-money laundering agent investigating corruption and cryptocurrency in his hometown. Critics note its exaggerated portrayal but praise its entertainment value.

Silk Road (2021)
A dramatization of Ross Ulbricht’s creation of the Silk Road, a dark web marketplace using Bitcoin. It explores his rise and fall, blending crime and drama.

Dope (2015) A coming-of-age comedy-drama featuring Bitcoin as a plot device. High schooler Malcolm uses Bitcoin for a dark web transaction, reflecting its early association with illicit activities.

Bonus Mentions

Life on Bitcoin (2014): Follows a couple attempting to live solely on Bitcoin for 100 days, showcasing early adoption challenges.

Bitcoin Heist (2016): A Vietnamese action-comedy about hackers chasing a crypto criminal, blending humor and thrills.

Notes Documentaries are generally more educational, focusing on Bitcoin’s history, blockchain technology, and real-world implications. They’re great for beginners and enthusiasts alike.

Feature films often dramatize crypto’s association with crime or scams, sometimes oversimplifying or exaggerating for effect. They prioritize entertainment over accuracy. For a deeper dive, check streaming platforms like Prime Video, Fandango at Home, or YouTube, where many of these are available.

News

Wall Street (Movie)
Wall Street (1987), directed by Oliver Stone, is a drama about ambition and greed in the 1980s financial world. It follows Bud Fox (Charlie Sheen), a young stockbroker desperate to succeed, who gets entangled with Gordon Gekko (Michael Douglas), a ruthless corporate raider. Gekko’s mantra, “Greed is good,” drives the story as Bud is lured into insider trading and unethical deals, compromising his morals for wealth and power.

The film explores themes of capitalism, loyalty, and betrayal, with Bud navigating pressures from Gekko, his father (Martin Sheen), and his own conscience.

Key Details: Cast: Michael Douglas (Gordon Gekko), Charlie Sheen (Bud Fox), Daryl Hannah (Darien Taylor), Martin Sheen (Carl Fox).
Runtime: 2h 6m.
Genre: Drama/Crime.
Rating: R. Box Office: ~$44 million (US).

Awards: Michael Douglas won the Academy Award for Best Actor.

Notable Aspects:

Gekko’s “Greed is good” speech is iconic, reflecting 1980s excess. Inspired by real-life figures like Ivan Boesky and Michael Milken.

A sequel, Wall Street: Money Never Sleeps (2010), continued the story.

Where to Watch (as of 2025):
Streaming: Available on platforms like Peacock or rentable on Amazon, YouTube, or Apple TV (check current availability).
Physical: DVD/Blu-ray via retailers like Amazon.

News

Best Quotes

An investment in knowledge pays the best interest." — Benjamin Franklin

"Bottoms in the investment world don't end with four-year lows; they end with 10- or 15-year lows." — Jim Rogers

Be fearful when others are greedy and greedy only when others are fearful." — Warren Buffett

Media Man "Bullish is a mindset"

 

 

Crypto News

Bitcoin to soar as ETFs on cusp of approval
- January 9, 2024

The price of Bitcoin is spiking and one analyst predicts it could more than triple in value and hit $300,000 by the end of 2025.

Bitcoin has risen above $US47,000 (A$70,000) for the first time since April 2022 and one analyst is predicting it could more than triple in value to be worth US$200,000 (A$298,000) by the end of 2025.

The prediction comes after news that US regulators appear ready to finally approve Bitcoin exchange-traded funds (ETFs).

In a note, Standard Chartered head of crypto research Geoff Kendrick wrote: “If ETF-related inflows materialise as we expect, we think an end-2025 level closer to US$200,000 is possible.”

It has been over a decade since the first applications for ETFs that invest directly in the digital currency were filed with the US Securities and Exchange Commission (SEC).

Prospective ETF issuers BlackRock, Fidelity, Invesco, Ark, Galaxy Digital and WisdomTree filed amended forms on Monday in what is seen by analysts as a final push to offer the investment products.

The regulator has until Wednesday to make a decision on the applications, which could result in an investment product tracking the daily price of the most popular digital currency traded on a stock market for the first time.

If approved, the advent of Bitcoin ETFs is expected to drive up Bitcoin’s price due to increased accessibility and liquidity of the digital currency.

The rise in Bitcoin also flowed through to a surge in the price of other cryptocurrencies, such as Ethereum, Cardano, SOL and Polkadot, while the share prices of listed crypto exchanges and miners such as Coinbase Global, Riot Platforms and Marathon Digital also rose.

Bitcoin’s previous all-time high of almost $US69,000 (A$103,000) was reached in November 2021.

#Bitcoin #BitcoinNews #BitcoinETF #BitcoinETFs #ETF #cryptonews #cryptocurrencynews #cryptocurrencies #fintech #BTC #SEC #BlackRock #Fidelity #Invesco #Ark #GalaxyDigital #Galaxy #WisdomTree #Ethereum #Marathon #SOL #Polkadot #Riot #RiotPlatforms #bizneews #biz #finnews #digitalnews #research #trends #trending #buzz #hype #cryptoculture #culture #AI #X #media

(Newsfeeds)


Bitcoin Rally Cools in Countdown to US Spot ETF Decision by SEC - 9 January 2024

Bitcoin consolidated after briefly rallying past $47,000 on optimism that regulators are set to approve the first US exchange-traded funds investing directly in the world’s largest digital asset.

The token dipped to $46,739 as of 6 a.m. Tuesday in London after a 6.5% jump on Monday in the US to a 21-month high. Bitcoin’s new year climb now stands at 10%, contrasting with drops over the same period in stocks and gold.

The crypto market expects a green light for US spot Bitcoin ETFs by a Jan. 10 deadline. Prospective issuers such as BlackRock Inc., Fidelity Investments and Ark Investment Management updated paperwork with the Securities and Exchange Commission, and the regulator has until Wednesday to take action on at least one of the applications.

Speculators are wagering that the agency will announce a slew of decisions at once to avoid handing out a first-mover advantage. If the funds are approved, the next question is how much money they will woo. Bitcoin is up 172% in the past 12 months in a sign that traders anticipate wider adoption of the token.

“Participants seem to be coming around to thinking that the initial flows will actually exceed expectations,” said Kyle Doane, a trader at Arca.

Applicants amended forms on Monday in the US in a final push to offer spot Bitcoin ETF products more than a decade after the first attempt.

SEC Chair Gary Gensler has repeatedly argued that crypto is rife with fraud and misconduct. The agency cracked down on the sector following a 2022 rout and collapses such as the bankruptcy of Sam Bankman-Fried’s FTX exchange.

But the SEC last year lost a key legal fight against crypto asset manager Grayscale Investments LLC, spurring speculation that the regulator will have to acquiesce to the spot ETFs. The spat was over the $29 billion Grayscale Bitcoin Trust’s desire to convert into such a product.

ETF Critics

Critics contend that spot crypto ETFs would pose a risk for investors given that digital assets are notorious for volatility and attracting illicit activity.

“What’s going to happen, unfortunately, is lots and lots of Americans in our view, are going to get hurt financially,” said Dennis Kelleher, chief executive officer of financial reform nonprofit Better Markets.

The months-long advance in Bitcoin has lifted the digital-asset market more broadly, bolstering smaller tokens like Solana and Avalanche. US crypto-linked stocks mostly rose on Monday, providing a tailwind for Asian peers such as Japan’s Monex Group and Woori Technology Investment Co. in South Korea.

Pullback Risk

Some crypto watchers wonder whether Bitcoin is ripe for a pullback if and when SEC approval finally lands, since speculators may decide to bank a slice of profits from the token’s rally.

There are “no signs” of a so-called sell-the-news event just yet, Chris Weston, head of research at Pepperstone Group Ltd., wrote in a note. Based on chart patterns, the $51,000 level is a possible target before any such retreat, according to Tony Sycamore, a market analyst at IG Australia Pty.

Looking past short-term price gyrations, “the main result of Bitcoin spot ETF approval will be the marketing machine behind greater Bitcoin awareness, powered by some of the largest names in traditional finance,” wrote Noelle Acheson, author of the Crypto Is Macro Now newsletter.

The token reached a record high of almost $69,000 back in 2021 during a pandemic-era bull run fueled by ultra-low borrowing costs.

#Bitcoin #BitcoinETF #ETC #crypto #cryptonews #cryptocurrencies #SEC #markets #finance #fintech #digitalnews #digitalbiz #digitalbusiness #newsmedia #newsfeeds #media


Bitcoin News Media

January 8, 2024

Bitcoin ETF Insider Leak Powers Bitcoin Price Surge Over $45,000 After $1.6 Trillion Ethereum, XRP, Solana And Crypto Boom

Now, as panicked traders try to get ahead of the U.S. Securities and Exchange Commission's (SEC) "rug pull of the decade," an insider leak has revealed BlackRock has readied a huge $2 billion bazooka if its spot bitcoin ETF bid is approved.

"I heard from a pretty well placed source that BlackRock has more than $2 billion lined up in week one in new incremental flows from existing bitcoin holders who are adding to positions," Matthew Sigel, head of digital assets research at investment company VanEck, said during an X Spaces broadcast organized by The Block.

"I can't vouch for that," Sigel added. "But you know, that's what everyone is doing. Just making phone calls and trying to find the folks who can write checks into these products. And our estimates—that, you know, if that $2 billion happened in week one, you know, that would blow away our estimates."

1/8 update: The bitcoin price has shot over $45,000 per bitcoin as the Wall Street race to get a bitcoin spot exchange-traded fund (ETF) to market enters its final week. The price surge boosted the price of ethereum, XRP and solana as traders bet a historical spot bitcoin ETF would boost crypto prices across the board.

This week, spot bitcoin ETF hopefuls, including BlackRock, Fidelity and Grayscale, have met the deadline to file their amended documents.

This filing "is another important step towards uplisting GBTC as a spot bitcoin ETF," Grayscale spokeswoman Jenn Rosenthal said in a statement to Coindesk. Grayscale has been trying to convert its bitcoin trust to a fully-fledged spot bitcoin ETF for years, last year successfully suing the SEC over its rejection of its bid. "At Grayscale, we continue to work collaboratively with the SEC, and we remain ready to operate GBTC as an ETF upon receipt of regulatory approvals."

"Market participants maintain expectations for the approval of the 21Shares filing, potentially triggering a cascade approval for all issuers," Matteo Greco, a research analyst at investment company Fineqia International, said in emailed comments, referring to the Ark 21Shares spot bitcoin ETF bid that's first in line.

"Numerous meetings between the SEC, issuers, and exchanges have fuelled the narrative of an imminent approval. The introduction of ETFs could usher in new investor cohorts from traditional finance, significantly improving market transparency and liquidity and bringing long term capital inflow in the digital assets market."

Sigel said VanEck was anticipating "$2.5 billion in the first quarter of trading," a figure derived from "past flows into the first gold ETF and adjusting by the U.S. money supply. And we have a $40 billion market opportunity over two years based on a similar analysis."

"$2 billion week one into BlackRock alone would blow expectations out of the water," Travis Kling, the chief investment officer of Ikigai Asset Management, posted to X. "Half that from all ETFs combined would have been a pretty good outcome."

VanEck, along with other spot bitcoin ETF hopefuls BlackRock, Fidelity, Grayscale, Valkyrie, ARK 21Shares and InvescoIVZ +1.8% have rushed to finalize their applications this week ahead of a January 8 Monday morning deadline.

Five SEC commissioners will reportedly vote on the spot bitcoin ETF bids next week, according to Bloomberg, citing an anonymous source.

#Bitcoin #BTC #BitcoinNews #Crypto #CryptoNews #cryptocurrency #XRP #ETF #Ethereum #BitcoinETF #BitcoinETFs #fintech #digitalnews #newsmedia #newsfeeds #trend #trends #buzz #hype #bitcoinnewsmedia #x #media

(Sources: Wires, Newsfeeds, X)

 

Crypto needs a new king. These are the contenders - December 15, 2023


The price of bitcoin is surging again. Major financial firms are showing renewed interest in digital currencies. And crypto fanatics are celebrating the end of a long period of depressed prices and business collapses.

But the sudden explosion of optimism has come at a turbulent moment for the cryptocurrency industry.

The last time crypto prices were skyrocketing, the industry’s most influential executives were Sam Bankman-Fried and Changpeng Zhao, rival billionaires whose online sparring could move markets. Now Bankman-Fried, founder of the FTX crypto exchange, and Zhao, who ran the world’s largest crypto firm, Binance, both face prison time after parallel falls from power.

A federal jury convicted Bankman-Fried last month on fraud and conspiracy charges stemming from FTX’s collapse. Three weeks later, Zhao pleaded guilty to a money laundering charge and agreed to relinquish control of Binance.

With the two men out of the picture, a crowded field of crypto entrepreneurs, Wall Street executives and government regulators are vying to control the industry’s next chapter. Their scramble for influence could determine whether crypto survives in the United States, where a regulatory crackdown has made it increasingly difficult for the industry to operate.

Some executives have argued that the crypto world needed to purge figures like Zhao and Bankman-Fried — aggressive entrepreneurs who gave priority to growth over compliance — to win over regulators and the public.


After Zhao’s guilty plea, Brian Armstrong, CEO of the US-based crypto exchange Coinbase, hailed the case as a turning point for the industry.

“We now have an opportunity to start a new chapter,” Armstrong posted on social media last month. “This industry should be built right here in America, in a compliant way, under US law.”

But the crypto world remains filled with companies that engage in risky business practices and don’t offer much transparency about their experimental products.

“There is no intrinsic value to any of this,” said Hilary Allen, an expert on financial regulation at American University. “The only hope is to have more money sloshing around, and more people willing to buy into it to create demand.”

Crypto has always had its share of influential leaders. The vision behind bitcoin, the original and most valuable digital currency, was first laid out by someone using the pseudonym Satoshi Nakamoto, whose mysterious identity became its own brand.

As the crypto world expanded, new centres of power and influence emerged. Zhao founded Binance in 2017 and built it into the world’s largest marketplace for buying and selling experimental coins. The exchange’s size and reach turned Zhao into a star on Twitter, now known as X, where he accumulated more than 8 million followers, dismissing government lawsuits and allegations of illegal conduct as disinformation spread by crypto’s enemies.

Zhao’s chief rival was Bankman-Fried, who appeared on billboards and magazine covers, cultivating a persona as the responsible adult who would help the fledgling industry work with regulators.

In the end, both Zhao and Bankman-Fried fell from grace. Bankman-Fried is set to be sentenced in March and faces the prospect of decades behind bars. Zhao is likely to receive a lighter sentence, with prosecutors expected to request about 18 months.

“Having those characters not in the plot any more is a really good thing,” said Jeremy Allaire, CEO of the crypto company Circle. “I’m focused and have been focused on: How do we make this useful for the world?”

A new generation of executives is already emerging as the industry’s top cheerleaders. Paolo Ardoino, an outspoken crypto enthusiast with a vast online following, recently took over as CEO of Tether, the company that oversees one of the most popular digital currencies. At Binance, Zhao was replaced by Richard Teng, a key executive at the exchange who had been groomed to step into Zhao’s shoes.

On paper, Teng is Zhao’s opposite. The Binance founder was antagonistic toward regulators, while Teng is a veteran of the Monetary Authority of Singapore, the country’s central bank.

Binance’s future is uncertain. As part of a settlement last month, the company agreed to pay a $US4.5 billion ($6.7 billion) fine to several government agencies and have a US monitor embedded in the business for the next three years.


“My general sense is there’s a real ‘wait and see,’” Allaire said. “I don’t think anyone knows the details of what that monitorship means.”

A Binance spokesperson did not respond to a request for comment.

Arguably the biggest beneficiary of crypto’s current reshuffle is Coinbase’s Armstrong, who declared this month that bitcoin “may be the key to extending western civilisation”. Coinbase’s share price has nearly tripled over the past six months, even after the Securities and Exchange Commission sued the firm as part of the agency’s broad crackdown on the industry.

“Coinbase is now the last man standing,” said John Todaro, an analyst at Needham who tracks the crypto industry. “There’s less competition out there.”

Coinbase has also positioned itself to profit from a potentially seismic development in the crypto world — the possible approval of an exchange-traded fund, or ETF, that tracks the price of bitcoin.

“Having those characters not in the plot any more is a really good thing.”

Circle CEO Jeremy Allaire

In recent days, bitcoin’s price has surged to over $US43,000 ($65,600), its highest level since a wave of bankruptcies sent the industry into crisis last year. Much of the enthusiasm is fuelled by growing confidence that the SEC is poised to approve a bitcoin ETF that would trade on traditional stock exchanges, potentially bringing new money into the industry.

Coinbase has agreed to store the bitcoin that would underlie an ETF offered by BlackRock, one of the world’s largest asset managers. BlackRock is the biggest of several major financial firms, including Fidelity, that have applied to offer the investment product.

Wall Street was once the enemy of the insurgent crypto industry, but after a bruising 18 months of bankruptcies and arrests, crypto proponents have greeted the collaboration between Coinbase and BlackRock as a potential salvation.

“Crypto isn’t disrupting Wall Street; it’s merging with it,” Allen said. “It’s fairly obvious — they think they can make some money here.”

 

 

 

Cryptocurrency-mining Chinese principal sacked for stealing school power supply -
12th November 2018

 

by Richard Wood

Cryptocurrency machines drained electricity from a Chinese high school for almost a year before the principal behind the illicit operation was busted.

‘Lei's clandestine set-up would total eight cryptocurrency machines’

When a school employee reported a spike in electricity usage, the principal Lei Hua blamed it on air conditioners and heaters, reports the South China Morning Post.

Lei, the head of Puman Middle school in China’s Hunan province, started mining the cryptocurrency ethereum from his home in June 2017 using one machine.

But it became such a huge electricity drain – reportedly up to 21 kilowatts per hour – that he moved his operation to his school’s computer room.

Eventually Lei’s clandestine set-up there would total eight cryptocurrency machines.

In January, the school’s deputy principal purchased a mining computer and, under guidance from Lei, also tapped into the school’s power source.

High powered mining machines can generate more cryptocurrency, but become hot and noisy and eat up huge amounts of power.

Authorities uncovered the electricity theft after reports of strange round-the-clock noises from the school’s computer room and problems with its IT network.

The school’s energy surge also caused its power bill run to 14,700 yuan ($2900) – almost double compared with the previous year.

Lei was dismissed soon after and his deputy principal was reportedly issued a warning, reports the BBC.

China started a crackdown on cryptocurrency mining operations this year amid fears of future financial chaos.

In April, police arrested six people in Tianjin province for stealing electricity from the local grid to power 600 bitcoin mining machines.

(Nine.com.com)