{
}
US stocks rose on Monday, driven by a rally in chipmakers, with Nvidia up 3%, Broadcom gaining 5%, and Advanced Micro Devices increasing by 4%. Investors are anticipating a potential Santa Claus rally, which historically indicates positive market trends for the following year. The NYSE will have a short trading day on Tuesday, closing at 1 p.m. ET for the Christmas holiday.
Stocks rose on Monday, with the S&P 500 gaining 0.7% and the Nasdaq climbing nearly 1%, driven by strong performances from semiconductor companies like Nvidia and Broadcom. Despite a volatile week, investor sentiment improved as the Fed indicated interest rates may remain elevated longer than expected. Consumer confidence, however, saw a significant decline in December, reflecting growing economic uncertainty.
Charles Hoskinson, co-founder of Cardano, is advocating for bipartisan cryptocurrency policies in the U.S. by engaging with Democratic senators, including John Fetterman, to counteract anti-crypto sentiments led by figures like Elizabeth Warren. He aims to clarify regulatory frameworks amidst concerns over the Biden administration's restrictive approach, while also highlighting advancements in the Cardano ecosystem, such as the launch of Plutus V4, which enhances scalability and security for decentralized applications.
The IRS has reaffirmed that staking rewards are taxable income upon receipt, rejecting a legal challenge from Joshua and Jessica Jarrett, who argue that these rewards should be treated as property and taxed only upon sale. Their ongoing dispute stems from taxes on Tezos tokens earned in 2019 and 2020, with the couple seeking a legal precedent for the treatment of staking rewards in the U.S. The IRS maintains that block rewards are classified as income based on their fair market value at the time of receipt.
In 2024, the cryptocurrency sector experienced significant growth, with stablecoins emerging as vital tools for enterprise payments and cross-border transactions. Regulatory clarity and technological advancements fostered institutional adoption, bridging the gap between speculative crypto origins and practical applications. As blockchain technology gained traction across industries, it became clear that the crypto ecosystem is maturing, paving the way for mainstream acceptance.
The Wall Street Journal has raised concerns about the potential threat of quantum computing to Bitcoin, labeling it a "time bomb" that could compromise its security within a decade. A study suggests that a quantum hack could lead to over $3 trillion in losses across financial markets, with 1.72 million BTC at risk due to exposed public keys. While experts acknowledge the looming threat, they emphasize that there is still time to develop quantum-resistant cryptography to safeguard the crypto industry.
President-elect Donald Trump has appointed Bo Hines as the executive director of the newly formed Presidential Council of Advisers for Digital Assets, aimed at fostering innovation in the cryptocurrency sector. Hines, a former college football player and pro-crypto advocate, expressed his commitment to ensuring the industry's growth and addressing regulatory challenges. This appointment follows Trump's broader strategy to position the U.S. as a leader in digital assets, with key figures like David Sacks and Paul Atkins also taking prominent roles in shaping crypto policies.
Crypto.com has launched an institutional cryptocurrency custody service in the US, named Crypto.com Custody Trust Company, aimed at US institutions and high-net-worth individuals. This move reflects the company's confidence in the North American market and is part of its strategy to enhance its presence in the US and Canada.In December, CEO Kris Marszalek met with US President-elect Donald Trump to discuss crypto policies, coinciding with the company's decision to drop its lawsuit against the SEC, signaling a commitment to collaborate on regulatory frameworks.
UBS has raised its price target for Broadcom to $220, reflecting strong confidence in the company's growth potential in artificial intelligence. With forecasts of 20% revenue growth next year and up to 40% by 2027, Broadcom is expanding its market share and customer base, particularly among hyperscalers. The company's strategic investments in advanced AI technologies position it well for future success in a rapidly evolving market.
Malaysia's securities regulator has prohibited Atomic Wallet from operating, citing unauthorized digital asset exchange activities. The firm, which suffered a $100 million hack in 2023 linked to the Lazarus Group, faces ongoing lawsuits and joins other barred cryptocurrency firms in the country. In response to security concerns, Atomic Wallet recently initiated a $1 million bug bounty program.
USA
Country
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
us stocks rise led by chipmakers as investors eye year-end rally
United States Dollar
Broadcom Inc.
Advanced Micro Devices, Inc.
NVIDIA Corporation
USA
Louis Navellier
Sam Stovall
Show more
22:05 23.12.2024
Tech stocks surge as investors weigh interest rate outlook for 2025
22:00 23.12.2024
charles hoskinson advocates for bipartisan cryptocurrency reform in the us
22:00 23.12.2024
IRS maintains stance on taxing crypto staking rewards as income
21:59 23.12.2024
stablecoins drive transformation in crypto payments and blockchain adoption in 2024
Visa Inc.
Mastercard Inc
USA
Ran Goldin
Raj Dhamodharan
Sheraz Shere
Tony Mclaughlin
Nikola Plecas
Show more
21:33 23.12.2024
quantum computing poses significant threat to bitcoin security experts warn
21:15 23.12.2024
Trump appoints Bo Hines as executive director of digital asset advisory committee
USA
Donald Trump
David O. Sacks
Wiley Nickel
French Hill
Paul Atkins
Bo Hines
Gary Gensler
Show more
21:11 23.12.2024
Crypto.com launches institutional custody service to expand US presence
United States Dollar
Canadian Dollar
Crypto.com Staked ETH USD
SGP
USA
CAN
Donald Trump
Kris Marszalek
Show more
21:10 23.12.2024
ubs boosts broadcom price target amid strong ai growth prospects
21:03 23.12.2024
malaysia bans atomic wallet over unauthorized digital asset exchange operations
20:30 23.12.2024
Trending
Subcategory
Corporate News
Stock Market Updates
Industry Trends
Industry Mergers & Acquisitions
Finance Mergers & Acquisitions
Global Financial Events
Banking Regulations
Workplace Trends
Retail and Consumer Goods
CEO Changes
Domestic Politics
Market Analysis and Predictions
Government Policies
Global Trade Developments
Central Bank Actions
Startups & Entrepreneurship
Elections & Campaigns
Hedge Funds & Private Equity
Supply Chain Management
Financial Scams and Security
Countries:
Companies:
Tesla, Inc.
JPMorgan Chase & Co.
Barclays PLC
Deutsche Bank Money Market PP
UniCredit S.p.A.
Banco BPM S.p.A.
Credit Suisse Lux Digital Healt
Bank of America Corporation
Apple Inc.
BNP Paribas SA
UBS Group AG
The Goldman Sachs Group, Inc.
Banco Santander, S.A.
Commerzbank AG
Credit Suisse Strategic Income I
CREDIT AGRICOLE
SpaceXCoin USD
Lloyds Banking Group plc
Wells Fargo & Company
Amazon.com, Inc.
Currencies:
United States Dollar
Euro
British Pound Sterling
Swiss Franc
Chinese Yuan
Indian Rupee
Japanese Yen
South Korean Won
Danish Krone
Hong Kong Dollar
Australian Dollar
Offshore Chinese Yuan
Canadian Dollar
Mexican Peso
Singapore Dollar
Norwegian Krone
Filipino Peso
Indonesian Rupiah
Russian Ruble
Chilean Peso
People: