What we’re reading (4/15)
“Waiting For A Crypto Boom In The Public Markets” (New York Times). “Heavy trading volume greeted the highly anticipated market debut of Coinbase, which ended the day worth some $86 billion. The cryptocurrency company’s coming-out party made some insiders very rich, opened up new possibilities for cementing its position in the blockchain economy and blazed a trail for other crypto companies to follow its lead onto the public markets.”
“Cathie Wood's Ark buys Into Coinbase, Sells A Bit Of Tesla” (Reuters). “Cathie Wood’s Ark funds bought $246 million worth of Coinbase shares on the cryptocurrency exchange’s Nasdaq debut on Wednesday and sold some Tesla shares, according to their daily fund trading summary.”
“U.S. Retail Sales Surged 9.8% In March” (Wall Street Journal). “U.S. shoppers boosted retail spending by nearly 10% in March as federal-stimulus funds made their way to households, warmer weather set in and the economy reopened more fully from pandemic-related restrictions.”
“Wall Street Execs, Employees Spent $2.9 billion On Campaigns, Lobbying During 2020 Election, Study Shows” (CNBC). “Wall Street executives, their employees and trade associations invested at least $2.9 billion into political initiatives during the 2020 election cycle, according to a new research report.”
“The Political CEO” (Economist). “When Americans notice business and politics mingling in other countries they often see it as a sign of institutional decay, crony capitalism or authoritarianism. Today the mixing of government and corporations is happening in America.”
