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Circle Rings NYSE Bell
Late yesterday, Circle officially priced it’s stock at $31, well above the initial range of $24 to $26. With the company also upsizing its share offering to 34 million, it looks like the IPO will raise more than $1.1 billion. While the company hasn’t yet begun trading, early indications are that it may open in the $42-44 range. Read more →
JPMorgan to Offer Clients Financing Against Bitcoin & Crypto ETFs
JPMorgan Chase & Co. is expanding its crypto-related services by allowing clients to use Bitcoin ETFs as collateral for loans. In addition to the lending change, JPMorgan will begin factoring crypto holdings into overall net worth and liquid asset evaluations. This means cryptoassets will be given similar treatment to stocks, cars or art when calculating how much a client can borrow against their assets. Read more →
Jim Chanos: Buy Bitcoin, Short MSTR
“I haven’t seen an arbitrage like this in this size in years, years and years,” legendary investor Chanos said during a recent interview. “The fact of the matter is, this is a Bitcoin holding company.” He says buying Strategy is like “paying around $220,000 for Bitcoin that trades at $110,000. But the company is doing everything it can to close that spread, which is great — there’s a catalyst… I expect MSTR will trade around its recent historical premium, either side of 100%, for the foreseeable future.” Read more →
Robinhood Is a ‘Prime Candidate’ for S&P 500 Addition Link»
Bitcoin Life Insurance Company Meanwhile Releases First-Ever Audited BTC-Denominated Financial Statements Link»
Brian Armstrong is ready to invest in CRISPR baby tech Link»
How Sports Betting Apps Rewired a Generation's Relationship to Risk Link»