
US Expansion Is Going Great: OKX US CEO
OKX US CEO Roshan Robert discusses expansion into the US in an interview with Sonali Basak and Tim Stenovec on 'Bloomberg Crypto.' (Source: Bloomberg)

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US House poised to send stablecoin bill to Trump after 'crypto week' drama
(Reuters) -The U.S. House of Representatives appeared poised to pass key crypto legislation on Thursday, including the creation of a regulatory framework for U.S.-dollar-pegged cryptocurrency tokens known as stablecoins, after two days of fraught negotiations. House lawmakers in Washington were due to convene on Thursday afternoon to consider passing the stablecoin bill and another that would develop a regulatory framework for cryptocurrencies more broadly. The stablecoin measure, which has already been agreed to in the Senate, is expected to pass and move on to be signed by President Donald Trump as soon as Friday. That would be a major victory for the digital assets industry, marking the first major crypto law enacted in the United States and paving the way for greater integration of crypto into traditional financial markets. Stablecoins, a type of cryptocurrency designed to maintain a constant value, usually a 1:1 dollar peg, are commonly used by crypto traders to move funds. They have gained much momentum in recent years, offering faster and cheaper transaction costs than moving money through a bank. Their use has grown rapidly in recent years, and proponents say they could be used to send payments instantly. The week's negotiations to consider the legislation - dubbed "crypto week" by Republican lawmakers - ran into unexpected hurdles after some conservative hold-outs voted against considering the measures. Trump huddled with skeptics at the White House on Tuesday to try to save the initiative. Even after Trump announced an agreement, it still took about nine hours for the bills to clear key procedural hurdles late on Wednesday as private talks continued. In negotiations that went late into Wednesday evening, lawmakers decided to include language to prohibit the United States from issuing a central bank digital currency in an unrelated defense spending bill as a compromise to conservatives who strongly supported the ban. The anti-central bank currency bill had become a sticking point for conservative Republicans. While central banks in some nations have explored issuing their own digital currencies, the topic has been met with quick resistance in the United States from conservative Republicans, who argue it could allow the government to monitor Americans' spending. The Fed has studied the issue, but Chairman Jerome Powell has said that the central bank would never pursue one absent explicit approval from Congress. House lawmakers have said they are aiming to vote on all three crypto measures later in the day. When asked if he expects the crypto bills to pass on Thursday, House Speaker Mike Johnson told reporters: "I do."
Yahoo
22 minutes ago
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What the China export easing means for Nvidia, AMD, and other chips stocks
Nvidia (NDVA) and AMD (AMD) may soon get the green light to sell AI chips to China again, potentially reviving a key growth market. The US government is reportedly considering loosening export restrictions, which could allow the tech giants to resume sales of some lower-end AI chips to China. This policy shift comes after April's export ban blocked chips such as Nvidia's H20 AI accelerator and AMD's MI308. 'This is a game changer,' Dan Ives, managing director of Wedbush Securities, told Yahoo Finance. 'Nvidia stands to gain billions in annual revenue from China, and every Nvidia supplier is going to benefit, as well as second and third derivative plays.' Bank of America (BAC) raised its price targets for Nvidia and AMD to $220 and $175, respectively, in anticipation of license approval. Favorable regulation could boost Nvidia's earnings per share by 5%-7% and AMD's by 3%-5%, its analysts estimate. But it's not just Nvidia and AMD that stand to gain. "It's a silver bullet positive for the AI buildout sector,' Ives said. If China's cloud and data center buildouts ramp back up, companies like Broadcom (AVGO) and Marvell Technology (MRVL), whose custom chips support AI infrastructure, could benefit. Credo Technology Group (CRDO), a high-speed interconnect supplier, may also see demand rise alongside broader server deployments. All three stocks carry a Buy rating from BofA. The clearest beneficiaries may be at the heart of chip manufacturing. Taiwan Semiconductor Manufacturing Company (TSMC), which produces Nvidia and AMD's chips, and Samsung Electronics (SSNLF), a key supplier of high-bandwidth memory, are well-positioned to capture a rebound. Read more: How does Nvidia make money? 'If I'm pointing to derivatives, I'm pointing to Samsung and TSMC,' Matt Bryson, managing director of research at Wedbush Securities, told Yahoo Finance. 'They're literally working on the parts Nvidia and AMD are shipping.' Bryson said that before April's export ban, Chinese server build activity was the 'number one positive inflection' the industry was watching. The momentum stalled in the second quarter, but could quickly return if policy changes are confirmed. The semiconductor market is rapidly expanding as AI advances. Gaining approval and reopening the key Chinese market, even partially, shifts sentiment across the sector. Nvidia CEO Jensen Huang estimated the Chinese AI market is worth $50 billion. Still, the exact effect on balance sheets will be hard to pin down in the near term. Nvidia's first quarter earnings reported a $2.5 billion drop in China revenue and a $4.5 billion inventory write-off. An additional $8 billion loss is anticipated in the second quarter. The semiconductor market is rapidly expanding as AI advances. Gaining approval and reopening the key Chinese market, even partially, shifts sentiment across the sector. Nvidia CEO Jensen Huang estimated the Chinese AI market is worth $50 billion. 'China is one of the best areas they [AMD] could break into,' Ives said. Bryson pointed out that even if the chipmakers get the green light to resume shipments and see some revenue bounce back, it's a big question mark whether the demand is even still there. Chinese customers might have already found other suppliers or simply moved on. Francisco Velasquez is a Reporter at Yahoo Finance. He can be reached on LinkedIn and X, or via email at Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
22 minutes ago
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GE Aerospace, Abbott Labs, Elevance: Trending Tickers
GE Aerospace (GE) stock pops after reporting a strong second quarter and raising its full-year outlook. Abbott Laboratories (ABT) narrows its full-year outlook despite in-line earnings as Trump threatens tariffs on the pharmaceutical industry. Elevance (ELV) lowers its full-year profit outlook as higher costs associated with changing government plans weigh on insurers. To watch more expert insights and analysis on the latest market action, check out more Morning Brief here. Now it's time for some of today's top trending tickers. We're watching GE Aerospace, Abbott, and Elevance. First up, shares of GE Aerospace hitting a 25-year high in pre-market after a blowout second quarter report. The jet engine maker beat expectations on multiple fronts, raising its full-year outlook for profit and revenue growth thanks to a robust commercial services outlook. The company has benefited from a surge in orders. CEO Larry Culp has been vocal in his opposition to President Trump's tariffs and has spoken with the president directly about the potential impact. The company plans to offset tariffs through cost controls and price increases. And remember, that high that we're seeing in the stock is after it separated its healthcare units into GE Healthcare, and then there's GE Vernova, which has the gas turbine business. Next up, Abbott, narrowing its full-year outlook despite reporting largely in-line results for its second quarter. Demand for medical devices drove growth during the three-month period. Strength in US sales offset by declines overseas. President Trump has said that tariffs on the pharma industry could come by August 1st. In April, Abbott announced plans to make new investments in US manufacturing and anticipation of those potential tariffs on the industry. And finally, Elevance's second-quarter results fell short of expectations, prompting the health insurer to lower its annual profit forecast. Elevance, the latest insurer hurt by tougher regulations and rising costs. Rivals like United Health, Centene, Molina, they've all previously cut their forecasts due to increasing costs tied to government-backed plans, including Medicare Advantage, Medicaid, and Affordable Care Act plans. As always, you can scan the QR code below to track the best and worst performing stocks with Yahoo Finance's trending tickers page. Related Videos PepsiCo posts Q2 beat, GE Aerospace lifts outlook Dow slides, 30-year yield rises on CPI report, Newmont CFO departs US Economy: Retail Sales Surge in June, Jobless Claims Fall Constellation CEO on Regulations, New Nuclear Project Sign in to access your portfolio