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FMR LLC increased its stake in Spotify Technology by 23.4%, owning 1,567,818 shares valued at $577.8 million, while Two Sigma Advisers LP raised its position by 19.0% to 980,000 shares worth $361.2 million. Institutional investors hold 84.09% of Spotify's stock, which has a "Moderate Buy" rating and a consensus price target of $438.36. Recently, UBS Group raised its price target for Spotify from $485 to $540, indicating a potential upside of 10.25%.
Tether, the largest stablecoin issuer, is relocating its headquarters to El Salvador after obtaining a Digital Asset Service Provider license. CEO Paolo Ardoino confirmed that while management will move, most of the 100+ employees will remain remote. This move aligns with El Salvador's ambition to be a digital currency hub, following its historic adoption of Bitcoin as legal tender.
President-elect Donald Trump is considering several crypto-friendly candidates for the CFTC chair, including Summer Mersinger and Brian Quintenz, as he prepares to reshape the regulatory landscape for digital assets. Current CFTC Chair Rostin Behnam will resign on January 20, paving the way for a shift in oversight from the SEC to the CFTC, which is expected to play a larger role in regulating the $3.5 trillion crypto market. Trump's administration aims to end what he describes as the Biden administration's regulatory "crusade" against the crypto industry.
The crypto industry is experiencing a pivotal moment with the incoming Trump administration, which has appointed pro-crypto advocates to key positions, including Howard Lutnick as Commerce Secretary and Paul Atkins at the SEC. As industry leaders engage politically, they face challenges in unifying diverse interests and navigating complex legislative priorities, particularly around market structure and stablecoin regulation. The bipartisan Financial Innovation and Technology for the 21st Century Act aims to establish a regulatory framework, but stakeholders express concerns over its adequacy in addressing decentralized finance and regulatory responsibilities.
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institutional investors increase stakes in spotify technology amid positive analyst ratings
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20:21 15.01.2025
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18:41 09.01.2025
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03:00 04.01.2025
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