The effects of South Korea’s crypto frenzy seem to be spreading beyond the cryptocurrency market to affect stock prices in the country’s stock exchange. According to a report by Bloomberg on Wednesday, Hanwha Investment & Securities Co. has seen its stock price almost triple since the start of the year. Indeed, at the time of writing, Hanwha Investment is trading at 6,550 Korean won per share, which constitutes a 197% stock price gain year-to-date. This almost-200% share price increase puts Hanwha Investment as the best performing of the companies in the Korea Composite Stock Price Index. Hanwha Investment’s bullish share …

Shares of Marathon Digital Holdings (MARA) surged on Monday after the cryptocurrency miner announced a significant increase in mining capacity in the first quarter, allowing it to up its stake in Bitcoin (BTC) by a considerable margin. MARA stock jumped 15.8% to close at $56.56, marking a new all-time high. The crypto mining stock rose by as much as 17.1% earlier in the day. By comparison, the technology-focused Nasdaq Composite Index rose 1.7% on Monday. Meanwhile, the Bitwise 10 Crypto Index Fund advanced 1.9%. At current values, Marathon Digital has a total market capitalization of $5.6 billion, putting it among …

GameStop Corporation, an American gaming and consumer electronics retailer, has announced its plans to sell up to 3.5 million GME shares following the stock’s massive and controversial rally. The firm announced Monday that it has filed a prospectus supplement with the United States Securities and Exchange Commission, under which it may offer and sell up to 3.5 million shares of GME stock via an at-the-market, or ATM, equity offering program. GameStop said that its total global sales increased nearly 11% for the nine-week period ending April 3, 2021. GameStop noted that its common stock will be offered through American multinational …

On Feb. 19, Bitcoin's (BTC) market capitalization surpassed $1 trillion for the first time. While this was an exciting moment for investors, it also concerned investors that the asset is in a bubble. Although a handful of listed companies ever achieved this feat, unlike gold, silver, and Bitcoin, stocks potentially generate earnings, which in turn can be used for buybacks, dividends, or developing additional sources of revenue. On the other hand, as Bitcoin adoption increases, those same companies will likely be forced to move some of their cash positions to non-inflatable assets, ensuring demand for gold, silver and Bitcoin. In …

In a flurry of price action reminiscent of 2017 mania, shortly after announcing that they had acquired NFT display and tracking platform Tokenwave, pop-culture collectibles giant Funko’s stock (NYSE: FNKO) rallied over 20%. Unlike many price-pumping announcements heavy on hype and sparse on content from the last bull run (and the dozens inevitably to come over the next few months), Funko and NFTs may be a perfect fit, however. On Thursday the creator of the widely popular Funko Pops collectibles line announced in a press release that they had acquired a majority stake TokenWave, the developers of the TokenHead NFT …

U.S.-based crypto exchange Coinbase says it anticipates going public with a direct stock listing in two weeks. According to a Coinbase blog today, the U.S. Securities and Exchange Commission, or SEC, has declared the crypto exchange's S-1 registration for a public offering effective. Coinbase's Class A common stock is expected to trade on the Nasdaq Global Select Market under the ticker symbol "COIN" on April 14. The crypto exchange had previously been expected to go public in March, but reportedly delayed its plans after paying a $6.5 million fee as part of a settlement with the Community Futures Trading Commission, …

According to its latest annual financial report, leading U.S.-based mining firm Riot Blockchain increased its hashing capacity by 460% and more than doubled the amount of Bitcoin held on its balance sheet in 2020. Riot saw a 78% growth in total mining revenues from $6.7 million to $12 million, owing to the increase in operational hash rate from 101 pentahashes per second, or PH/s, as of December 2019 to 566 PH/s as of December 31. While the company said it achieved profitability in the fourth quarter with $3.9 million in net income on a GAAP basis, Riot posted an overall …

When it comes to investing in the financial markets, panic selling often leads to missed opportunities – and waiting for the dip could rob you of the most lucrative days to hold a particular asset. Those are the general takeaways of a comprehensive study of the S&P 500 Index conducted by Bank of America. Using data going back to 1930, Bank of America strategists found that a basic hold strategy would have yielded total returns of 17,715%. If, on the other hand, investors tried to time the market, they could have missed out on the best trading days. Missing just …

Shares of Riot Blockchain (RIOT) and other cryptocurrency miners sold off sharply on Thursday, as Bitcoin’s (BTC) gravitational pull on the market continued to broaden. RIOT declined by as much as 14.4% during Thursday’s session, extending its losing streak to four days. The stock has declined 29% over that stretch and is down over 44% from its all-time closing high on February 17. At the time of writing, RIOT had pared most of its daily losses to trade above $43.00. Its market cap currently stands at just under $3 billion. RIOT wasn’t the only crypto-focused stock to decline on Thursday. …

FTX has reached an agreement with Miami-Dade County on a 19-year partnership worth $135 million, to name Miami Heat’s home stadium the FTX Arena. The cryptocurrency derivatives exchange backed by Alameda Research, is set to become the first member of the crypto industry to secure NBA naming rights, pending approval from the Miami-Dade County Board of County Commissioners on March 26. The deal marks a significant mainstream partnership for a crypto-based platform, which will see FTX tied to the Miami Heat until 2040. As part of the Miami-Dade County’s press release on March 23, FTX CEO Sam Bankman-Fried noted: “This …

After settling charges of improper reporting of exchange volume and “self-trading” with the Community Futures Trading Commission, or CFTC, on Friday, reports have emerged that cryptocurrency exchange giant Coinbase is set to push back its stock listing to next month. The company had previously been expected to go public some time in March. On Friday, the CFTC announced a settlement with Coinbase over charges that the company inaccurately reported trading data on Bitcoin (BTC), and that an employee “self-traded” to create the illusion of volume and demand for Litecoin (LTC). “Reporting false, misleading, or inaccurate transaction information undermines the integrity …

Cryptocurrency adoption has been penetrating the mainstream at an exponential rate. While most investors are going straight into buying the likes of Bitcoin (BTC) and Ether (ETH), a few skeptical investors want to invest in the cryptocurrency economy without exposure to tokens’ volatility directly. This volatility is evident in the recent all-time high Bitcoin of around $61,700 reached on March 14, before dropping to trading in the $56,000 range and then rising to around $59,000 at the time of publication. Bitcoin’s market capitalization has now surpassed that of Visa and Mastercard combined. For the overly cautious investors, JPMorgan recently announced …