Affirm stock soars 34% after earnings ‘end some lingering bearish themes’

Shares of Affirm Holdings Inc. surged in after-hours trading on Thursday after the buy-it-now pay-later company reported better revenue and sought to reassure investors of its positioning in a time of recession. slow-down. Turnover at Affirm AFRM, +23.31% rose to $354.8 million in the third fiscal quarter from $231 million a year earlier, when analysts … Read more

TerraUSD Cryptocurrency Plunges as Investors Bail Out

A sell-off in a cryptocurrency believed to be pegged to $1 accelerated on Wednesday, briefly sending its price below a quarter of that value. TerraUSD traded as low as 23 cents on Wednesday, according to data from CoinDesk. As of 2:43 p.m. ET, it had partially rebounded to around 68 cents in volatile trading. A … Read more

TerraUSD cryptocurrency drops below fixed value, triggering a sell-off

One type of cryptocurrency, a so-called stablecoin, is supposed to maintain its value at $1. But on Monday, the third-largest stablecoin, TerraUSD, fell as low as 94 cents, prompting a flood of investors to sell their holdings. Stablecoins get their name because they are tied to the value of government-issued currencies, such as the dollar. … Read more

$3.5 billion bet on bitcoin becoming a “reserve currency” for crypto is put to the test

Pedestrians walk past a Bitcoin cryptocurrency exhibit on February 15, 2022 in Hong Kong, China. Anthony Kuan | Getty Images A multi-billion dollar bet that bitcoin can act as a “reserve currency” for the crypto-economy is already being tested as controversial stablecoin UST struggles to maintain its peg at $1. UST fell nearly 99 cents … Read more

What Bitcoin could be worth to Fidelity. You will be surprised.

Text size Fidelity’s push to Bitcoin is controversial but could be lucrative for the company. Fidelity Investments shocked the retirement industry last month by deciding to make Bitcoin available in 401(k) plans. Add up the earnings that could pay off, and it starts to be less of a surprise. Fidelity is the nation’s largest … Read more