Bitcoin off the rails

The Bitcoin rollercoaster is back. The cryptocurrency fell by as much as 15% on Sunday before recovering a bit Monday with rival coins like Ether and XRP also taking a dive. The retreat came just days after Bitcoin hit $64,000 following the market debut of the U.S.’s largest exchange for the tokens. How did this come to pass, and what will happen nextDavid E. Rovella 

Bloomberg is tracking the progress of coronavirus vaccines while mapping the pandemic globally and across America

Here are today’s top stories   

The four largest U.S. banks sucked in a tremendous $919 billion in additional deposits last year during the height of the pandemic. Here’s what they did with it

JPMorgan is bankrolling the biggest upheaval of European soccer since the 1950s in a 4 billion-euro ($4.8 billion) bet that’s already drawn heavy criticism from fans, domestic leagues and politicians. There’s already a plan afoot to stop it.

Russian opposition leader Alexey Navalny is continuing a hunger strike after he was moved to a prison hospital, as the U.S. threatened the Kremlin with unspecified “consequences” if the nemesis of Vladimir Putin dies.

Harassment allegations and fear are haunting the European investment Bank as a December suicide sparks concern about the risk of more deaths.

The European Investment Bank in Luxembourg 

Photographer: Olivier Matthys/Bloomberg

U.S. President Joe Biden is asking congressional Democrats to vote for a tax increase, some of which would reverse cuts Republicans rolled out four years ago (mostly for corporations and the rich). The move will test a long-held liberal article of faith: that many wealthy Democrats won’t mind paying more taxes if they believe the money will lead to greater prosperity for everyone.

That 2017 overhaul also hit higher-tax states by capping state and local deductions, or SALT. Democrats, who allege the provision was intended to hurt blue states, are now suggesting a way to lift the SALT cap and make up for lost tax revenue: More IRS audits.

U.S. stocks retreated from an all-time high on Monday as investors awaited the heart of the earnings season and more economic data later in the week. Here is your markets wrap.

What you’ll need to know tomorrow 

What you’ll want to read in Bloomberg Hyperdrive

Why Flying a Helicopter on Mars Is a Big Deal

NASA conducted its first flight on another planet early Monday morning, a short hop for a small chopper named Ingenuity. The feat demonstrated technology that could prove critical to the future of space exploration. With the U.S. and other nations preparing to return humans to the moon, and eventually land on Mars, using drones will become much more important.

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200 million shots

Monday, April 19, 2021

Bloomberg Follow Us Get the newsletter The story of America and the pandemic has been, up until recently, one of catastrophic failures stemming from a combination of bad luck, incompetence, ambivalence

Crypto craze gets crazier

Monday, April 19, 2021

Bloomberg Follow Us Get the newsletter The halt in using Johnson & Johnson's Covid-19 vaccine could last several weeks and risks crimping America's vaccine drive at a pivotal moment. Our

Wall Street crushes it

Wednesday, April 14, 2021

Bloomberg Follow Us Get the newsletter A quarter that began with retail investors declaring from their breakfast nooks the demise of Wall Street as we know it ended with big banks reaffirming their

Vaccine pause

Tuesday, April 13, 2021

Bloomberg Follow Us Get the newsletter Use of Johnson & Johnson's single-shot Covid-19 vaccine was paused byline the US government after six women who received it developed a rare and severe

Make the rich pay

Monday, April 12, 2021

Bloomberg Follow Us Get the newsletter United Nations Secretary-General Antonio Guterres is calling on nations to institute a wealth tax to help reduce global inequality exacerbated by the Covid-19

Longreads + Open Thread

Saturday, July 31, 2021

Precariat, Metaverse, Olympics, Patronage, Warp Speed, Strauss, Oil, Bonds ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Younger and sicker

Saturday, July 31, 2021

Bloomberg Follow Us Get the newsletter The great Return to Office is grinding to a halt. Much of America Inc. had planned to get back to normal come fall, but Covid-19's delta variant had other

Weekly Wrapup: Fox In The Henhouse

Saturday, July 31, 2021

Finshots Weekly Wrapup: Fox In The Henhouse In this week's wrapup we talk about the Chinese ed-tech industry, cigarettes, India's digital currency, chicken prices and Robinhood's much-

Desperate House Hunters Are Making Offers on Homes That Aren’t Even for Sale

Saturday, July 31, 2021

Dream house not for sale? Buyers are making offers anyway. July 30, 2021 MORTGAGES Desperate House Hunters Are Making Offers on Homes That Aren't Even for Sale Dream house not for sale? Buyers are

A lot more contagious

Friday, July 30, 2021

Bloomberg The news around the delta variant in the US keeps getting worse, threatening progress toward any return to some semblance of normalcy. New data released by the Centers for Disease Control and

Is It Time to Sell Your ‘Pandemic Stocks?’

Friday, July 30, 2021

A child tax credit deadline is approaching July 30, 2021 The pandemic forced some abrupt changes, and we're just now figuring out which of those to keep and which to discard. For example, how much

Blackstone's Moment

Friday, July 30, 2021

Plus: Archegos, US Payments, Monzo, Finally ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

FTT Update: This Newsletter Is Not Offsides

Friday, July 30, 2021

​ ​ Hi all, Julie here. Writing this at 6am since WE CLOSE ON OUR HOUSE TODAY! I have to say, the worst part of the mortgage process wasn't all the paperwork, it was getting all of our money into

You And Your Investment Research

Friday, July 30, 2021

Plus! A Successful IPO from Robinhood; Convergence; Underinvestment; Consumer-Friendly Defaults; The Amazon Rollup Boom ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

A look at Robinhood's IPO

Friday, July 30, 2021

Finshots A look at Robinhood's IPO Robinhood is going public after having raised some $2.1 billion on NASDAQ at a $32 billion valuation. So we thought maybe we could look at the company and see