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Nike, Inc. focuses on designing, manufacturing, and marketing sports footwear, clothing, and equipment, with footwear accounting for 68.6% of net sales. The company operates 1,045 stores globally and generates significant revenue from North America (41.6%) and Europe/Middle East/Africa (26.5%). Despite its strong market presence, UBS warns of potential downside risks in the coming quarters.
Nike, Inc. focuses on designing, manufacturing, and marketing sports footwear, clothing, and equipment, with footwear accounting for 68.6% of net sales. The company operates 1,045 stores globally and generates significant revenue from North America (41.6%) and Europe/Middle East/Africa (26.5%). Despite its strong market presence, UBS warns of potential downside risks in the coming quarters.
Luigi Mangione, charged with the murder of UnitedHealth Group CEO Brian Thompson, has been placed in the same Brooklyn jail as FTX founder Sam Bankman-Fried, who is serving a 25-year sentence for his role in the crypto exchange's collapse. Additionally, hip-hop artist Sean "Diddy" Combs, facing racketeering and sex trafficking charges, is also housed at the facility and has hired one of Bankman-Fried's lawyers for his appeal.
Vivek Ramaswamy's X account was allegedly hacked, leading to a false announcement of a partnership with the USUAL stablecoin project, which caused its governance token to surge to an all-time high of $1.61. The misinformation resulted in a significant spike in trading volume and market cap for USUAL, despite Ramaswamy being locked out of his account and clarifying the post was a scam. The incident has drawn attention to the Department of Government Efficiency (D.O.G.E.) initiative, co-led by Ramaswamy and Elon Musk, amid speculation about its potential ties to cryptocurrency.
U.S. stocks rallied on Friday following a cooler-than-expected inflation report, easing concerns over interest rate cuts. The PCE index showed a 2.4% annual rise in November, slightly below estimates, prompting traders to adjust expectations for Fed rate cuts in 2025. Despite the rally, major indexes were on track for weekly declines, with all S&P sectors advancing, led by real estate.
Coinbase has withdrawn support for Wrapped Bitcoin (wBTC) as Bitcoin's price drops below $100,000, citing that wBTC no longer meets its listing standards. The decision follows concerns over Justin Sun's involvement with wBTC, which Coinbase deemed an "unacceptable risk." Users can still access and withdraw their wBTC funds, but trading services have been disabled.
Over the past three years, around 120 crypto hedge funds, representing 75% of those surveyed, have faced significant banking challenges, including relationship terminations and vague explanations from banks. This situation has fueled discussions about "Operation Chokepoint 2.0," an alleged initiative by the Biden administration to restrict banking access for the crypto industry. While affected funds eventually found banking partners, they often turned to smaller, regional institutions.
Switzerland faces challenges as families receive eviction notices amid rising real estate speculation, raising concerns about social stability. While the economy shows some resilience compared to the EU, major Swiss companies like Roche and Nestlé struggle with poor management decisions, impacting investor confidence. The promise of a prosperous decade seems overshadowed by the realities faced by many employees and smaller investors.
Metallicus has acquired fintech service company Bonifii, which connects to 70 credit unions, aiming to create a new CUSO for partners on The Digital Banking Network. This acquisition increases Metallicus' credit union partnerships to over 80, with plans to enhance onchain solutions and reduce operational costs.The company has been active in the digital banking sector, notably integrating with the FedNow digital payments system. Bonifii's president, John Ainsworth, will join Metallicus as General Manager to lead its expansion into the credit union market.
Ether ETFs are experiencing significant net inflows, with a record $2.2 billion in the week of Nov. 26, and analysts predict they may outperform Bitcoin ETFs in 2025. The Ethereum network's growth, particularly in AI applications, and potential staking yields could further enhance Ether's appeal, with projections suggesting a spot price of $6,000 by late 2025 and up to $22,000 by 2030. The SEC has recently approved ETFs that include both BTC and ETH, potentially boosting inflows into Ether funds.
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