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  • Apr 25, 2025

Nike sued over closure of crypto business

NEW YORK (Reuters) -Nike was sued on Friday by purchasers of Nike-themed non-fungible tokens (NFTs) and other cryptocurrency assets who said they suffered significant losses when the athletic wear company abruptly closed the business that created those assets. In a proposed class action filed in Brooklyn, New York federal court, purchasers led by Australian resident Jagdeep Cheema said the sudden closure in December of Nike's RTFKT unit caused demand for their NFTs to dry up. They said they would never have bought the NFTs at the prices they did, or at all, had they known the tokens were unregistered securities, and that Nike would "cause the rug to be pulled out from under them."

  • Apr 25, 2025

Former Fed governor Warsh blasts US central bank for leaving its lane

WASHINGTON (Reuters) -Former Federal Reserve Governor Kevin Warsh, with whom President Donald Trump is reported to have discussed firing U.S. central bank chief Jerome Powell and installing him in his place, on Friday unleashed a barrage of criticism of the Fed and argued for fundamental changes to how it operates. In a speech full of long-standing criticisms but short on specifics for what he would do differently, Warsh said he believes in the Fed's "operational independence" but argued it has gone beyond its remit and undermined its claims to independence. "Independence is reflexively declared, all too often in my view, when the Fed is criticized," he told a conference in Washington organized by the Group of Thirty, an international body of financiers and academics.

  • Apr 25, 2025

Data-Crunching Wall Street Skeptics Sit Out the Turnaround Trade

(Bloomberg) -- Michael Mullaney’s mind was elsewhere during the market rebound this week, even as stocks surged, borrowing costs for Corporate America eased and Treasuries settled down.Most Read from BloombergTrump Gives New York ‘One Last Chance’ to End Congestion FeeWhy Car YouTuber Matt Farah Is Fighting for Walkable CitiesBackyard Micro-Flats Aim to Ease South Africa’s Housing CrisisThe Racial Wealth Gap Is Not Just About MoneyNewsom Says California Is Now the World’s Fourth-Biggest EconomyI

  • Apr 25, 2025

Why Bitcoin Miners Soared This Week

Bitcoin (CRYPTO: BTC) has been on fire this week, rising 12% over the past seven days as of 2 p.m. ET on Friday. Bitcoin, in particular, has proven to be highly correlated with growth stocks and magnifies the market's move in general. What's interesting about the move recently is that Bitcoin hasn't been a hedge to the market or a safe haven to investors.

  • Apr 25, 2025

Why Tesla Stock Just Had Its Best Week Since November

Tesla stock soared on Friday to close out its best week since November's presidential election, after the federal government moved to loosen restrictions on self-driving cars and CEO Elon Musk promised to step back from government work.

  • Apr 25, 2025

Fed survey finds global trade fight, policy uncertainty top financial stability risks

WASHINGTON (Reuters) -Rising risks around global trade, general policy uncertainty, and the sustainability of U.S. debt topped the list of potential risks to the U.S. financial system in a new Federal Reserve survey released on Friday. The bi-annual Fed survey of financial risks was the first since President Donald Trump returned to office, and the impact of his aggressive policy agenda was apparent, especially around tariffs. Seventy-three percent of respondents cited global trade risks as a top concern, more than twice the number reported in November.

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