A record number of U.S. renters spent more than 30% of their income on rent in 2021 and mortgage rates fall to lowest level since mid-September. Freddie Mac says 3 million more people now qualify for a home loan.

Hi, MarketWatchers. Don’t miss these top stories. Death and deceit in Malibu: How yogi couple befriended and stole millions from vulnerable rich doctor Anton David and Anna Moore are accused of pretending to be caretakers for Dr. Mark Sawusch while really having an eye on his $60 million fortune. Read More ‘We are not visible, … Read more

‘Crypto is not dead’: Industry insiders react to report that states 72% of institutional traders have no plans to trade crypto in 2023

JPMorgan Chase & Co. on Wednesday published a survey stating 72% of institutional traders, out of the 835 surveyed, “have no plans to trade crypto” in 2023. But some industry experts say that this doesn’t mean crypto is dead. The survey was conducted between Jan. 3 and Jan. 23, and included responses from 60 global … Read more

These crypto-related stocks rallied up to 200% this year. Here’s why 

Welcome back to Distributed Ledger. This is Frances Yue, crypto reporter at MarketWatch. Crypto miners have had a remarkable start of this year, as bitcoin BTCUSD rose to around $24,000 from below $17,000 in early January. Meanwhile, Dogecoin DOGEUSD rallied, as Elon Musk is reportedly pushing forward Twitter’s payments system and considering adding crypto in … Read more

Why NFTs saw $941 million in trading volume in January – the highest since June 2022

Non-fungible tokens registered $941 million in trading volume in January 2023, up 38% from December, and the highest on record since June 2022, according to a Feb. 2 report by DappRadar, which tracks and analyzes the activity of NFT marketplaces. Non-fungible tokens, which provide proof of ownership of a digital asset like online artwork, surged … Read more

Crypto is a ‘gambling contract’ not a currency and should be banned, says Charlie Munger

““A cryptocurrency is not a currency, not a commodity, and not a security. Instead, it’s a gambling contract with a nearly 100% edge for the house, entered into in a country where gambling contracts are traditionally regulated only by states that compete in laxity.”” — Charlie Munger, Vice Chair of Berkshire Hathaway That was Charlie … Read more

Bitcoin jumps 3% after Powell says ‘disinflation’ underway

Bitcoin jumped 3% after the Federal Reserve on Wednesday raised its key interest rate by a quarter of a percentage point, but signaled that only “a couple more” rate increases may be needed before the central bank takes a pause on its fight against inflation. The largest cryptocurrency BTCUSD, +0.29% rose to as high as … Read more

Coinbase stock poised to record best month in history. Can the rally continue?

The stock of crypto exchange Coinbase is on track to record its strongest month in history, despite the implosion of its former competitor FTX in November which shook investor confidence in digital currency markets.    Coinbase COIN, +4.88% shares are up 60% year-to-date and are up 77% from the all-time low of $31.55 on Jan.6, … Read more

SBF’s Alameda seeks to reclaim $446 million in loan payments to Voyager

Alameda Research, the trading arm of Sam Bankman-Fried’s bankrupt crypto exchange FTX, is seeking to recoup about $446 million in loan payments from similarly bankrupt crypto lender Voyager Digital. According to a filing in Delaware bankruptcy court Monday, FTX — filing on behalf of Alameda — said that before Voyager filed for bankruptcy in July, … Read more

Good news for Super Bowl party hosts: chicken-wing prices are down 22% and the number of ‘millionaire renters’ has tripled — here are the cities where they’re most likely to live

Hi, MarketWatchers. Don’t miss these top stories. Man sentenced to 3 ½ years for stealing IDs of LA murder-suicide victims and looting their estate Kristopher Cobb plundered the accounts of an LA city attorney who shot his wife and son before taking his own life, after learning of the tragedy on the news. Read More … Read more

Elon Musk is trying to build a Twitter payments system — and crypto may be part of it: report

Twitter is reportedly pushing forward its efforts to introduce payments across the social media platform. In Elon Musk’s vision, the system would use fiat currencies at first, but may add crypto functionality later, the Financial Times reported on Monday. The social media giant has been applying regulatory licenses and devising the software it needed to … Read more