Tag: Stock

London Stock Exchange Group Plans to Embrace Blockchain Technology for Operational Efficiency

Murray Roos clarified that the exploration of blockchain does not mean that the exchange is delving into cryptocurrencies like Bitcoin and Ethereum. The London Stock Exchange Group (LSEG), one of the oldest and most reputable stock exchanges in the world, is embarking on the integration of blockchain technology into its operations according to a report by Financial Times. London Stock Exchange Group and Its Interest in Blockchain The reputable exchange has been in operation for centuries, facilitating the trading of stocks and other financial assets using traditional methods. The increasing…

London Stock Exchange to create traditional assets trading platform on blockchain

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The London Stock Exchange (LSE) Group is reportedly planning on creating a blockchain-based platform that will be offering traditional financial assets. According to a report by mainstream media outlet Financial Times, the company has been looking into the potential of a blockchain-based trading venue for a year. LSE Group’s head of capital markets Murray Roos said that the company’s efforts in looking into the blockchain had reached a point where they decided to move their plans forward. London Stock Exchange Group looks to build blockchain-powered trading venue: Financial Times#LSE #London…

Robinhood (HOOD) to Buy Back Sam Bankman-Fried’s $605.7M Stock

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Coinbase stock surges after favorable federal ruling for Grayscale

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Coinbase’s stock experienced a significant surge on Aug. 29 after reports emerged that a federal judge had ruled in favor of Grayscale in its legal dispute with the United States Securities and Exchange Commission. In the final moments of the trading session on Aug. 29, the value of COIN stood at $85.13 per share, marking an increase of over 15% over the previous day’s close. Coinbase, the largest cryptocurrency exchange in the U.S., has been publicly listed on the Nasdaq since 2021. On Aug. 29, a federal court ruled that…

Bitcoin Price Taps $28,000 On Grayscale Ruling, Soaring Stock Market

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Bitcoin price has thus far made a 7% intraday move following news that a US court ruled in favor of Grayscale against the SEC. At the same time, the stock market is surging. Could a perfect storm for the top cryptocurrency by market cap be building? Back At $28,000: Grayscale Court Ruling Causes BTC To Bounce In an asset class as volatile as crypto, prices — and moods — can change in a flash. That’s exactly what we’ve witnessed on a small scale today, moments after news broke that a…

WinRAR patches zero-day bug that targeted stock and crypto traders

The developers behind file compression software WinRAR have patched a zero-day vulnerability that allowed hackers to install malware onto unsuspecting victims’ computers, enabling them to hack into their crypto and stock trading accounts. On Aug. 23, Singapore-based cybersecurity firm Group-IB reported a zero-day vulnerability in the processing of the ZIP file format by WinRAR. The zero-day vulnerability tracked as CVE-2023-38831, was exploited for approximately four months, allowing hackers to install malware when a victim clicked on files in an archive. The malware would then allow hackers to breach online crypto…

Dinari Raises $7.5M for Decentralized Stock Trading Platform

Founded in 2021, Dinari wants to provide blockchain-backed access to corporate equity through its dShare platform. The dShare platform offers access to securities such as Apple or Tesla stock using a wallet on the Arbitrum network for users outside the United States due to regulatory reasons, said Jake Timothy, Dinari co-founder and chief technology officer, in an email to CoinDesk. Each dShare token is 1-1 backed similar to stablecoins like USDC or Tether. Source

Robinhood wins meme stock lawsuit

A US federal appeals court has dismissed a class-action lawsuit against Robinhood Markets over its restrictions on trading 13 meme stocks in early 2021. The class action, involving 16 investors, was filed in September 2021. The plaintiffs alleged that Robinhood’s trading restrictions prevented them from purchasing meme stocks when hedge funds were short-squeezed in January 2021. They claimed this led to the loss of potential profits and a sharp decline in share prices. Robinhood successfully sought a motion to dismiss the complaint in January 2022, arguing that the plaintiffs failed…

Robinhood beats investors’ appeal in GameStop meme stock case

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A United States federal appeals court has upheld a decision to dismiss an investor class action lawsuit against online brokerage firm Robinhood Markets over its meme stock trading debacle in early 2021. A total of 16 investors took part in a class action lawsuit against the trading platform in September 2021, alleging the firm restricted them from purchasing 13 “meme stocks” when hedge funds were being short squeezed in January 2021. This stopped them reaping the profits and also caused the share prices of these stocks to plummet, they alleged.…

Coinbase (COIN) Bears Doubt Stock Can Rise Even After Beating Wall Street’s Estimates

“Ultimately, we struggle to see a favorable valuation argument for the stock given that the company’s revenue base is tethered to an asset class that has yet to show a sustainable everyday utility value, as well as the significant levels of stock based comp, despite being profitable on an adjusted basis,” Goldman Sachs analysts led by Will Nance wrote. “Until we see evidence of mass adoption of crypto for everyday utility, we believe fundamentals will remain challenged,” the analysts wrote. Source