FTX reportedly shopping for brokerages in preparation for stock trading

Crypto derivatives exchange and NFT platform FTX is reportedly in the market for brokerage start-ups as part of its recently announced plans to expand support to stock trading. The firm announced last Thursday that its U.S.-based subsidiary FTX.US will be launching zero-commission stock trading via its app, and will allow users to fund their accounts with fiat-backed stablecoins. According to a May 23 report from CNBC — who cited sources that “asked not to be named because the deal talks were confidential” — the firm has held private meetings with…

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FTX US to launch stock trading against stablecoins

Major cryptocurrency exchange FTX is moving into equity trading, with its United States-based subsidiary FTX US launching a stock trading platform. West Realm Shires Services, the owner and operator of FTX US, announced on May 19 the upcoming launch of FTX Stocks, a stock trading service offered directly through the FTX US trading app. The new stock trading platform will feature trading and investing in hundreds of U.S. exchange-listed shares, including common stocks and exchange-traded funds. According to the announcement, FTX Stocks will be the first platform to ever allow…

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Bitcoin price drops under $29K as Walmart, Target stock lose most since 1987

Bitcoin (BTC) headed toward an “interesting” liquidity area on May 18 as United States stock markets opened with a bearish bang. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC price nears “interesting” rematch with lows Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it broke through the $29,000 support after the Wall Street open. U.S. markets saw a swift reversal of prior gains on the day, with the S&P 500 down 2% and the Nasdaq 100 down 2.3% within the first hour of trading. The big surprise, however, came…

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The Brazilian Stock Exchange will launch Bitcoin and Ethereum futures

B3, the Brazilian Stock Exchange, confirmed that within six months it intends to launch its first official product aimed at the cryptocurrency market — Bitcoin (BTC) futures trading. The group’s chief financial officer, André Milanez, made the announcement during a conference call on Monday. Milanez did not provide many details on how the product will work. It is not yet known if B3 will form a partnership or if it will offer Bitcoin futures trading directly, but the timeline for launching this product was stated to be relatively short. “We…

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Terra ecosystem collapses, Sam Bankman-Fried buys Robinhood stock, and crypto trader receives jail sentence for a ponzi scheme: Hodler’s Digest, May 8-14

Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link. Top Stories This Week Breaking: Terra blockchain officially halted following LUNA price collapse This week, news about the Terra ecosystem dominated the headlines after algorithmic stablecoin TerraUSD (UST) lost its peg to the U.S. dollar — and continued to crash.  At its lowest point during the week, UST fell…

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Bitcoin disappoints on bull run as AMZN stock sees biggest 1-day drop since 2014

Bitcoin (BTC) fell into the Wall Street open on April 29 as United States markets opened to volatility, including an 11% drop in Amazon stock. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView All change at the Fed Data from Cointelegraph Markets Pro and TradingView confirmed BTC/USD dipping to $38,622 on Bitstamp Friday. Despite a let-up in the U.S. dollar’s relentless bull run, Bitcoin showed little signs of strength as it remained firmly under $40,000. Macro factors remained against the largest cryptocurrency along with risk assets more broadly, commentators noted, as the…

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Robinhood axes almost 1 in 10 staff members as stock hits all-time low

Popular retail trading platform Robinhood has fired 9% of its workforce amid a firesale of its stock that has seen HOOD plunge to all-time lows. In the past 30 days alone, HOOD has tanked roughly 38% to sit at $9.99 at the time of writing, marking the lowest price since the initial public offering (IPO) launch in mid-2021. The decline is part of a longer-term bearish trend that has seen the price of HOOD continually decrease since its all-time high of roughly $70.39 on Aug. 4 2021 according to TradingView.…

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FTX US to invest in IEX stock exchange to launch digital securities

Sam Bankman-Fried’s cryptocurrency exchange FTX continues aggressively investing in traditional finance, with the United States-based affiliate FTX US investing in Investors Exchange (IEX), a U.S. national stock exchange. FTX US has signed an agreement to make a strategic investment in the IEX’s operator IEX Group to jointly establish a market structure for buying, selling and trading digital asset securities, the firm announced to Cointelegraph on Tuesday. IEX and FTX US expect to close the deal in May 2022, subject to customary closing conditions and regulatory approval. The new collaboration aims…

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Bitcoin miner Riot Blockchain files prospectus for $500M stock sale

In a document filed with the United States Securities and Exchange Commission (SEC) on Thursday, Bitcoin (BTC) mining company Riot Blockchain announced that it would be selling up to $500 million worth of common stock to finance general corporate expenses, such as working capital, repayment of corporate obligations, capital expenditures and acquisitions, and investing in existing and future projects.  After the offering, the company would have more than 139 million units of commons tock outstanding, giving it a market cap of close to $3 billion at Friday’s prices. The company…

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Bitcoin beats owning COIN stock by 20% since Coinbase IPO

Buying a Coinbase stock (COIN) to gain indirect exposure in the Bitcoin (BTC) market has been a bad strategy so far compared to simply holding BTC.  Notably, COIN is down by nearly 50% to almost $186, if measured from the opening rate on its IPO on April 14, 2021. In comparison, Bitcoin outperformed the Coinbase stock by logging fewer losses in the same period — a little over 30% as it dropped from nearly $65,000 to around $41,700 BTC/USD (orange) vs. COIN price (blue). Source: TradingView What’s bothering Coinbase? The…

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