Why the latest bitcoin rally is different from the rest

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MacKenzie Sigalos of CNBC.com brings you today’s top business news headlines. On today’s show, CNBC.com’s Tanaya Macheel explains what makes this latest bitcoin rally different from the past. In addition, Cathie Wood says goodbye to New York and moves Ark Invest to Florida.

Bitcoin hits nearly 5-month high, surpassing $ 55,000 on Wednesday

Bitcoin surged to a nearly five-month high above $ 55,000 on Wednesday, extending its rally from the previous day as institutions jumped in to try to catch the wave.

The rally comes amid a series of small developments in Washington, DC that have given comfort to institutional investors keen to get into cryptocurrencies.

“Regulatory uncertainty is what always keeps investors out of the market and every time we get closer to regulatory clarity you see that kind of reaction,” said Matt Hougan, chief investment officer of Bitwise Asset Management. “It is the main driver of the next big crypto bull market.”

According to financial advisers interviewed by Bitwise, the main thing stopping them from making crypto allocations is regulatory uncertainty. Hougan said the majority result was the same for three years in a row.

Hacker hacks Amazons Twitch video site, exposing future product plans

Amazon’s video streaming service Twitch was hacked on Wednesday in a breach that included details of payments to content creators and a never-before-seen product from Amazon Game Studios.

The anonymous hacker said he was posting the information to “foster more disruption and competition” in the online video streaming world, and called the Twitch community a “disgusting toxic sump” in a post on the platform. -Anonymous bulletin board form known as 4chan.

Twitch confirmed the hack in a tweet, but did not provide details on the extent of the hack and the data obtained.

“We can confirm that a violation has taken place,” the company said in the tweet. “Our teams are working urgently to understand the extent of this. We will update the community as more information becomes available. Thank you for your patience.”

From robotics axis to doubling revenues: this is how GM presents its plans for the future

General Motors gave investors a detailed look at its financial operations on Wednesday, outlining how the automaker plans to increase profit margins and double revenues to around $ 280 billion by the end of this decade.

To achieve these ambitious goals, GM CEO Mary Barra and her management team plan to transition the traditional automaker to what they call a “platform company,” leveraging its core construction and construction businesses. sales of cars to develop and develop “beyond the vehicle”.

“General Motors is delivering the technologies that redefine the way people and goods are moved,” Barra said Wednesday at GM’s technology campus in suburban Detroit on the first day of a two-day investor event. , zero emissions and zero footprint have put us ahead of much of the competition. “

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