Crypto News 

Support for regulation of cryptocurrencies is growing in Congress, with members on both sides, including some free-market Republicans, calling for action

“Digital assets currently fall into a jurisdictional gray area between the Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC), the Treasury Department, the Federal Reserve and individual states” writes Min Read for reuters.com. The SEC is already cracking down on transactions known as initial coin offerings (ICOs), while the CFTC has identified digital assets as a commodity subject to its anti-fraud rules.In a time of volatile markets, hackers are also active in the sector, stealing $530 million of digital currency from Japanese exchange Coincheck last month.While some…

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Markets News 

Mirae to buy Global X, sponsor of popular robotics ETF

“Mirae Asset Global Investments late Monday announced that it would buy Global X Funds for an undisclosed sum, the latest in a series of acquisition deals in the red-hot exchange-traded fund industry” writes Markets Reporter for marketwatch.com. Globally, it is the 32nd-largest ETF provider by assets, according to Morningstar Direct; it has 0.2% of the industry’s market share.Global X, which is best known for its “thematic” funds, which track fast-growing sub-sectors of major industries, has about $10 billion in assets across its 52 ETFs.According to a news release announcing the…

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News 

Washington is budgeting a $5.1 billion taxpayer bailout for Fannie and Freddie

“A budget appendix shows that Treasury is budgeting a payment of $4.7 billion for Fannie, which is much more exposed to the deferred tax assets, and $400 million for Freddie” writes Andrea Riquier for marketwatch.com. The U.S. Treasury expects to pay $5.1 billion to prop up Fannie Mae FNMA, +0.53%   and Freddie Mac FMCC, +0.00%   in the coming year, according to budget documents released Monday. The White House budget also forecasts increasing the fees charged by the two enterprises on mortgages they guarantee. Source: marketwatch.com Share This:

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Record $23 Billion Flees World’s Largest ETF

“The iShares Core S&P 500 ETF (ticker IVV) actually took in $634.5 million, while the Vanguard S&P 500 ETF (ticker VOO) saw only a modest $209 million exit the fund” writes unknown author for bloomberg.com. Flows activity in similar S&P 500 exchange traded funds offered by BlackRock and Vanguard was much more muted last week.The SPDR S&P 500 exchange-traded fund (ticker SPY) suffered a record $23.6 billion in outflows last week amid the worst momentum swing in history for the underlying U.S. equity benchmark.Prior to this recent market tumult, extreme…

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Crypto News 

Islamic Endowments to be Modernized by Blockchain

“Islamic charitable endowments, called waqf, are the latest to get the blockchain treatment” writes Southeast Asia Based for newsbtc.com. Large portfolios of real estate, commercial businesses and other assets can be held in Islamic endowments.According to reports Singapore based fintech firm Finterra has developed a crowdfunding platform that uses blockchain to create smart contracts that would be linked to specific waqf projects. He hopes this will be the first of many to benefit from the blockchain revolution.It has been estimated that as much as $1 trillion of assets is held…

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Crypto Markets News 

How the Pump & Dumps Are Killing the Cryptocurrency Market

“While Lydian may be an ideal candidate for long-term participation, there are other crypto assets that crypto-enthusiasts pump and dump daily for a quick profit” reports newsbtc.com. Then, once the cryptocurrency hits a predetermined value, everyone “dumps” or sells the asset as soon as possible for profit.When looking at crypto assets to participate in long-term, it is important to do your own due diligence. Source: newsbtc.com Share This:

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Markets News 

Dollar extends slight gains as global equity markets slump

“The ICE U.S. Dollar Index DXY, +0.08% a measure of the currency against a basket of six major rivals, rose less than 0.1% to 89.265” writes Mark Decambre for marketwatch.com. Friday’s gains represented that best for the dollar since late October, according to FactSet data.Against the Japanese yen USDJPY, -0.25% the dollar bought ¥109.74, compared with ¥110.15 late Friday.The euro EURUSD, -0.1365%  on Monday slipped to $1.2445, compared with 1.2459 late Friday in New York. Source: marketwatch.com Share This:

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Vodafone in talks to buy Liberty Global assets

“LONDON (Reuters) – Vodafone said on Friday it was in talks with John Malone’s Liberty Global about buying some of the cable company’s assets in Europe” reports businessinsider.com. “Vodafone confirms that it is in early stage discussions with Liberty Global regarding the potential acquisition of certain overlapping continental European assets owned by Liberty Global,” the company said in response to a report in the Financial Times.The world’s second biggest mobile operator and the cable company, which have overlapping operations in countries including Britain and Germany, discussed swapping assets in 2015,…

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