Citi backs stablecoin firm as big banks warm to crypto

BVNK co-founders (L to R) Donald Jackson, Jesse Hemson-Struthers and Chris Harmes, at the company’s San Francisco Office. BVNK Citi has invested in stablecoin infrastructure company BVNK, the startup told CNBC on Thursday, as big U.S. banks ramp up their presence in the cryptocurrency and digital asset space. Stablecoins are a type of digital asset…

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Japan’s currency tightrope with Trump

The late Shinzo Abe (L) and Sanae Takaichi (R) at a science and technology innovation conference in Tokyo on October 22, 2014. Toshifumi Kitamura | Afp | Getty Images For years, U.S. President Donald Trump has accused Japan of engaging in “unfair trade practices” — a criticism that dates back to his days as a…

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The Meme ETF is back. Is it late to the party again?

Roundhill Investments resurrected an exchange-traded fund focused on meme stocks on Wednesday, aiming to give everyday investors a simple way to play the new class of buzzy-yet-volatile stocks. But if history repeats itself, that could signal the trade — and broader market — is already losing its steam. Roundhill said the Meme Stock ETF, which…

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Thursday, October 9, Nikkei 225, ASX

Asia-Pacific markets were set to open higher Thursday, tracking Wall Street gains as investors shrugged off concerns of an artificial intelligence bubble. Nvidia shares advanced Wednesday stateside after CEO Jensen Huang said that demand for AI computing is “substantially” up in the last six months. Stocks of CoreWeave also jumped after the AI cloud provider…

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