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Barrons.com
Bitcoin Trades Below $24,000 and Ether’s Rally Fades
traded below $24,000 on Friday to end what has been a solid week for the world’s largest cryptocurrency. Bitcoin has fallen 3.7% to $23,734 over the past 24 hours, according to CoinDesk. It has moved higher this week, getting a boost from data that showed inflation has been cooling in the U.S., which in turn has taken some pressure off the Federal Reserve as it raises interest rates to slow down the economy.
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Reuters
BlackRock launches spot bitcoin private trust for U.S. clients
The trust will track the performance of bitcoin, offering direct exposure to the price of the digital currency, BlackRock said. “Despite the steep downturn in the digital asset market, we are still seeing substantial interest from some institutional clients in how to efficiently and cost-effectively access these assets,” the company said. The move comes a week after cryptocurrency exchange Coinbase Global Inc said it had partnered with BlackRock to provide its institutional clients with access to crypto trading and custody services.
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CoinDesk
Bitcoin’s Next Move After Rally to 2-Month High
Bitcoin has rallied above $24,500 after Wednesday’s U.S. economic data offered hope that rampant inflation might have peaked and the Federal Reserve would slow liquidity tightening in the months ahead. Amplify ETFs Portfolio Manager Dan Weiskopf discusses his bitcoin analysis and outlook. Plus, what Ethereum’s merge could mean for the mining community and future of crypto regulation.
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Motley Fool
Wynn’s Results Are a Tale of Two Cities
Las Vegas couldn’t be going much better for Wynn Resorts (NASDAQ: WYNN). The company generated a whopping $226.7 million of adjusted EBITDA (a proxy for cash flow from a casino/resort) in the second quarter of 2022, nearly double what it generated a year ago. Across the Pacific Ocean, Macao has been a huge drag on Wynn and the entire casino industry.
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Motley Fool
One Cryptocurrency I’d Buy Right Now
If there is one crypto to buy right now, it’s Bitcoin (CRYPTO: BTC). There is a paradigm shift happening in the investment world right now, and Bitcoin is the reason. In early August, Coinbase (NASDAQ: COIN) announced that it was linking with the world’s largest asset manager, BlackRock (NYSE: BLK), to offer crypto investment services for large institutional investors and wealthy private clients.
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TheStreet.com
Is Walt Disney Going to Sell ESPN?
Disney is seeing the benefits of the post-pandemic rebound, as demonstrated in its latest financial results. ESPN was at the peak of its popularity in 2011 when it was in 100.13 million homes. Back then ESPN used to give quarterly reports, and its latest quarterly report said Nielsen data showed a cord-cutting rate of just 0.18%, down from 0.28% in the previous quarter.
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Sportico
Barcelona Sells Another $100M of Its Content Arm as Season Opener Looms
Barcelona’s sell-off continues. The Spanish soccer team, one of the most popular and most valuable in the world, announced Friday morning that it had sold 24.5% of its content arm, Barça Studios, to Orpheus Media for about $103 million (€100 million Euros). The news comes just two weeks after it sold another 24.5% stake in […]
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The Wall Street Journal
Cardinal Health CEO Steps Down
Chief Executive Officer Mike Kaufmann is leaving the healthcare products distributor as it struggles with the impact of inflation and supply-chain constraints.
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Washington Post
The corporate minimum tax could hit these ultra-profitable companies
WASHINGTON – The House is expected to approve the Inflation Reduction Act on Friday that includes a minimum tax rate of 15% on highly profitable companies – a levy that could hit Amazon, Verizon and others. The tax would help pay for large investments across climate and health care. But the minimum tax conflicts with a hallmark of corporate taxes in America: deductions and credits ratified by Congress.Subscribe to The Post Most newsletter for the most important and interesting stories from The W
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