Bitcoin News Roundup for Jan. 29, 2021

With BTC capturing abet up above $37K and a gawk into the aftermath of the GameStop moment, CoinDesk’s Market Day-to-day is abet with the most contemporary news roundup.

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This day’s stories:

The GameStop-galvanized “undergo raid” by retail stock traders appears to be like to be to have vexed Wall Avenue but crypto trade marketeers are salivating over the chance of fresh buyer leads and extra place an tell to of.

Coinbase says in Web post it plans to change into publicly traded company thru an instantaneous listing (CoinDesk)

Iran tightens grip on crypto miners while taking a gawk to them as a seemingly income as global sanctions crimp economy (CoinDesk)

Cathie Wood’s ARK estimates bitcoin might perhaps perhaps climb to $400K if the cryptocurrency were to replace 10% of the money on corporate steadiness sheets.

Silver surges as GameStop day traders switch correct into a form of property (WSJ)

Retail traders sue Robinhood over restrictions on meme stocks GameStop, AMC Theaters and BlackBerry (CoinDesk)

Non-public-equity firm Silver Lake converts $600M of AMC convertible notes into equity after retail-fueled stock-mark pump (WSJ)

U.S. Congress plans hearings on GameStop market pumps (CoinDesk)

American Airways, Southwest Airways post file losses for 2020 after coronavirus-associated streak downturn (WSJ)

Rising-market borrowing development – $847B in 2020, with another $100B of bonds sold up to now in January – sparks concerns over debt loads (WSJ)

European Central Bank’s head of banking supervision worries that lenders within the sphere might perhaps perhaps simply no longer be atmosphere apart sufficient money for loan-loss reserves (WSJ)

“Patrons have been constantly conditioned to utilize the dip, in spite of its cause. FOMO (fear of lacking out) and TINA (there might be no longer always any different to chance property) have turbocharged this behavior,” Allianz Chief Economic Adviser Mohamed el-Erian writes in column (Bloomberg Thought)

Even supposing the U.S. economy shrank last twelve months by the most since 1946, patrons have elevated their spending on items faster than prior to the coronavirus hit, as “resilient wages, buoyant stocks, low ardour charges and stimulus gave most households astronomical spending energy” while the pandemic restricted payments for companies, the U.S. Commerce Department reported Thursday (WSJ)

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