TagCitigroup

Gold Prices to Spike 17% Hitting Historic Highs Before 2021, Citi Forecasts

G
Gold, Gold Price

Gold prices may rally to its historic high in the next year or two, according to CitiGroup. The American multinational banking firm forecasted gold at $2,000 an ounce by the close of 2021’s third quarter, citing a list of catalysts that may propel the price. They include mounting concerns of a global recession and the likelihood of central banks cutting their interest rates to zero. Citi...

Windstream Bankruptcy Fleeces Investors But Shouldn’t Harm Customers

W
windstream bankruptcy

Windstream Holdings, Inc. (NASDAQ: WIN) has officially filed for Chapter 11 bankruptcy and restructuring following the February 15th, 2019 decision of Judge Jesse Furman in favor of Aurelius Capital Management LP. So what happens next? Windstream has described this bankruptcy filing as a proactive step toward allowing WIN to continue business and improve their operations in the coming days...

France’s Largest Bank BNP Paribas Loses $80 Million Due to Trader’s Pre-Vacation Snafu

F

According to multiple sources, BNP SA, known by many as the largest bank in France, reportedly made a loss of $80 million in derivative trades connected to the United States. The sources confirmed that Antoine Lours, the Head of U.S index trading at BNP, is yet to return to his position at the bank. Lours has been away on vacation since Christmas when he initiated trades on the S&P 500 Index...

Wells Fargo, JP Morgan and Brexit Vote Challenge US Stock Markets Today

W

With premarket trading in the green, including Dow Futures, US stock markets may be bound for a rise. But, trading confidence will be challenged by Wells Fargo and JP Morgan Chase earnings reports and the imminent Brexit vote. Big Bank Earnings Reports Roll In Beginning with Citibank parent Citigroup yesterday, earnings reports are starting to roll in from some of the biggest banks in the US...

Citigroup Stock Recovers 5% on Positive Earnings Announcement

C
citigroup stock bitcoin

Barron’s reported early Monday morning that Citigroup stock had “slumped” after a positive earnings report that also showed a substantial revenue miss, but by the time of writing the trend was reversing on the NYSE. Citigroup (NYSE:C) is the fourth largest US bank with nearly $2 trillion in assets. Citigroup posted earnings of $4.3 billion for the fourth quarter of 2018 today. They note in their...

Wall Street is Backing Out of Crypto

W
Wall Street dow jones us stock market

Wall Street is quietly moving out of the crypto market, Bloomberg reports. While the market has continued to be battered by news of fraud and imminent regulatory crackdowns, there was a time when it seemed like Wall Street had started to warm up to the rise of crypto assets. Last year, when the crypto industry enjoyed what was probably the biggest bull run in its history, it seemed a lot of...

Expert: Banks are Enthusiastic Towards Crypto, Waiting for Regulators to Invest

E
bitcoin regulation

According to Rebecca Harding, a financial journalist and the acclaimed author of “The Weaponization of Trade: the Great Unbalancing of policy and economics,” major financial institutions are waiting to invest in the crypto market. Harding, who operates as the CEO of Coriolis Technologies, a trade technology company that provides services to major banks and corporations in the traditional finance...

Mike Novogratz: Bitcoin Price Rally Inbound in Q1 2019

M
mike novogratz

Perennial bitcoin bull Mike Novogratz, founder and CEO of Galaxy Digital, claims bitcoin is positioned for major growth now that institutions are investing in it and big compananies are starting to accept it. Novogratz told CNNMoney’s “Markets Now” that big companies like Microsoft and Starbucks are allowing customers to use bitcoin and that, in the short term, more institutions will invest for...

Bitcoin Severely Oversold, Various Technical Factors Suggest

B
bitcoin price target

Williams %R, a technical analysis oscillator that demonstrates oversold or overbought conditions of an asset, is demonstrating highly oversold conditions for Bitcoin. As Olga Kharif at Bloomberg reported, the Williams Percent Range (WPR) of Bitcoin is hovering at around -83 percent. In WPR, -80 to -100 percent is considered oversold and -0 to -20 percent is oversold. Analysts state that the...

Bitcoin Price Stabilizes: Market Recovery Expected After Flurry of Positive News

B
bitcoin price

Bitcoin has found stability in the low range of $6,300 to $6,400, demonstrating decent volume at around $3.8 billion and pushing its dominance index to 56.1 percent. Well performing tokens including WanChain, VeChain, Decentraland, and Waltonchain have recorded large losses against the US dollar in the range of 5 to 10 percent, mostly likely due to the struggle of ETH, the native cryptocurrency...

Citigroup is the Latest Bank to Offer Crypto Custody: Here’s How it Will Affect the Market

C
citigroup stock bitcoin

According to Business Insider’s Frank Chaparro, sources close to Citibank revealed that the $175 billion New York-based bank will offer crypto custody solutions to institutional investors. Through the launch of a product called Digital Asset Receipt (DAR), Citigroup will enable institutional investors to invest in cryptocurrencies in a fully insured and regulated manner. Similar to ETFs...

Citigroup to Offer Low-Risk Crypto Product for Institutional Investors: Report

C
Citi

Investors may now have a new way of purchasing cryptocurrencies without actually having to own them. Manhattan, New York-based banking giant Citigroup has reportedly developed a product which could reduce the risk hedge funds and asset management firms are exposed to when they invest in cryptocurrencies. According to the Business Insider, the instrument which was jointly developed by Citigroup’s...

Big Banks Block Client Access to Sunday’s Bitcoin Futures

B
Blockchain bank test

Big banks are not rushing to facilitate investment in the first bitcoin futures market that goes live on Sunday. Citigroup Inc. and Bank of America Merrill Lynch have told customers they will not provide access to the cboe bitcoin futures that goes live on Sunday, according to The Wall Street Journal. Goldman Sachs Group Inc. which is the U.S.’s largest futures broker, will reportedly only give...

Bitcoin Will Lead to the Rise of State Cryptocurrencies: Citigroup CEO

B

In an interview with Bloomberg at The Year Ahead summit in New York, Citigroup CEO Michael Corbat recently predicted that bitcoin’s threat to the financial system will lead to state-sponsored digital currencies, as governments will have no choice. According to the CEO, governments won’t take the disruption bitcoin and other cryptocurrencies can cause and are going to answer with their own digital...

New York Stock Exchange and Former Citigroup CEO Invest in Coinbase

N

The previously leaked rumor of Coinbase raised $75 million is now confirmed. The company did, in fact, raise that much money and the investor list is juicy for speculators and bitcoin lovers alike. In their announcement, Coinbase said their fundraiser is something they’re honored to be a part of, stating the following: “Today’s fundraise gives us solid growth capital to continue driving...