The Dow Jones Industrial Average surged about 755 points, or 1.8%, amid optimism over a potential government funding deal, with House Speaker Mike Johnson indicating a vote on a measure that would prevent a shutdown. The S&P 500 and Nasdaq also saw gains of 1.7% each, following a PCE inflation report that showed slower price increases than expected. Despite Friday's rally, all sectors remained on track to finish lower for the week.
Former Credit Suisse executives and Swiss authorities attended hearings regarding the management of the CS crisis, with the PUK set to make twenty recommendations to the Federal Council by spring 2025. The report criticizes the lack of tools available to authorities and highlights the need for improved cooperation and information sharing among them. The PUK also noted that the handover of responsibilities from former Finance Minister Ueli Maurer to Karin Keller-Sutter was inadequate, particularly concerning the critical CS dossier.
The NFT market is rebounding, with over $800 million in transactions last month, driven by blue-chip collections and the launch of the PENGU memecoin. Despite a resurgence, prices remain significantly below previous highs, and regulatory scrutiny continues, highlighted by recent Wells Notices against OpenSea and CyberKongz. The anticipated return of Donald Trump to the presidency is expected to enhance market sentiment and regulatory conditions for blockchain technologies, fostering further growth and adoption in the NFT space.
Remittix has launched a new Pay API and merchant account solution that allows businesses to accept cryptocurrencies like Chainlink and Cardano while paying in fiat, mitigating volatility risks. The platform supports over 30 fiat currencies and 50 cryptocurrency pairs, enhancing cash management.The native governance token, $RTX, is central to the ecosystem, with a presale price of $0.018 and expectations of a 5,800% increase during presales, followed by a potential 50,000% rise post-listing. The project has undergone audits and promises to lock tokens and liquidity for three years to boost investor confidence.
UBS has reduced its price target for Nike from $80 to $73 while maintaining a "Neutral" rating. Analyst Jay Sole notes that earnings estimates may still be too optimistic due to underestimations of the time and costs required to normalize inventory levels and a slower-than-expected product pipeline.
Investors who put EUR 10,000 into Raiffeisen shares a decade ago would now hold 841,751 shares, valued at EUR 16,489.90, reflecting a 64.90% increase. The market capitalization of Raiffeisen stands at EUR 6.43 billion, with the share price at EUR 19.59 as of December 19, 2024.
Liquidators of the bankrupt Cryptopia exchange have begun distributing $225 million to over 10,000 verified users affected by a hack in 2019. Grant Thornton announced that initial payouts have been made in Bitcoin and Dogecoin, with plans for further distributions in the New Year. The firm encourages remaining account holders to register on the claims portal to be eligible for future distributions.
Ripple, in partnership with Archax and abrdn, has launched the first tokenized money market fund on the XRP Ledger, marking a significant step in real-world asset tokenization. Ripple's $5 million investment underscores confidence in XRPL's capabilities, which promise efficiency, low fees, and compliance for institutional investors. With projections of tokenized assets reaching $16 trillion by 2030, XRPL is poised to transform traditional finance through blockchain technology.
Canal+ shares fell by 19% to 191.10 pence after UBS Group AG issued a neutral rating, citing risks from its acquisition of MultiChoice, which is experiencing declining profits in South Africa. This contrasts with CIC Market Solutions' optimistic target of 450 pence, suggesting the market has already accounted for these risks. Following Canal+'s decline, the combined value of Vivendi and its spinoffs dropped 10% from its standalone price on December 13, according to Bloomberg.
Hailey Welch, known as the "Hawk Tuah Girl," faces a lawsuit after her Hawk Tuah memecoin crashed 95%, leading to significant investor losses. The lawsuit alleges fraudulent practices, including a "rug pull," and claims that Welch's promotion misled many new investors. Accusations of insider trading have also emerged, with concerns over the project's management and tokenomics.

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