The Winklevoss twins lose, millennials will win, and bitcoin all day: Money and markets news roundup
There might be a weight loss drug competitor to Ozempic — and the company’s stock is soaring
Zealand Pharma stock soared more than 34% on Monday, after the company announced strong results in a clinical trial for a liver disease drug that is also being tested for weight loss.
Bitcoin has now surged past $60,000 and is nearing a record — with a big change coming
Bitcoin keeps soaring and surpassed $60,000 on Wednesday for the first time since 2021. The crypto currency has rallied all week, jumping more than 15% in just four days to $61,074 late Wednesday morning.
Millennials will become the wealthiest generation ever — and it could turn investing upside down
A massive transfer of wealth is set to take place over the next decade, with millennials set to come out on top. And their differing attitudes from preceding generations will change where the world’s wealth will be invested, forcing asset managers to adapt.
Bitcoin has passed $57,000 to hit a 2-year high — and it’s not done yet
Bitcoin reached a two-year high on Tuesday, inching its way to an all-time record high.
The original crypto currency rallied for the second day on Tuesday, surpassing $57,000 for the first time since 2021. On Tuesday morning, its price had slightly dropped to $56,704.
The bitcoin billionaire Winklevoss twins have to give $1.1 billion back to crypto customers
What’s cooler than giving away a million dollars? Giving away a billion dollars. The Winklevoss twins Cameron and Tyler, thrust into pop-culture fame after 2010's Facebook founding dramatization The Social Network, reached a settlement Wednesday (Feb. 28) with the New York State Department of Financial Services (NYFDS) to give back $1.1 billion to customers of their cryptocurrency exchange Gemini.
Bitcoin’s price surge briefly broke Coinbase
Coinbase users’ accounts showed a “zero balance” on Wednesday afternoon. Coinbase confirmed the problem on its status page at 12:40 p.m. ET but claims customer cryptocurrency funds are safe. The cryptocurrency exchange blames the outage on increased traffic, as Bitcoin’s price surged past $60,000.
The best bitcoin trade in February wasn’t bitcoin
Bitcoin had a monster February. Its value jumped more than 40% since the beginning of the month, and it’s been surging to heights not seen since 2020 seemingly every day. But investing in the cryptocurrency itself would not have been the most lucrative trade to make: The trading exchange Coinbase and the miner Marathon Digital Holdings both outperformed the coin, to the tune of 59% and 45% gains, respectively.
Bitcoin just had its best month since 2020
Bitcoin is not just having a good week, surging to its highest levels since late 2021, it’s also having a good month. A great month, actually: It’s up more than 40% in February, the cryptocurrency’s best performance since December 2020.
Is it too late to invest in Nvidia? | Smart Investing
Eric Beiley, executive managing director of The Beiley Group at Steward Partners, tells Quartz whether he thinks there’s still room to run for the AI chip stock
Goldman Sachs’ CEO says the economic recovery isn’t as sturdy as it looks
Between a record stock market and a robust job market, it’s been the best of times for the U.S., economically speaking. But could worse times be ahead? The Financial Times reports that Goldman Sachs CEO David Solomon told attendees at a UBS financial services conference that markets have been way too excited at the idea of a so-called “soft landing.”