Bitcoin Plunges, and Softbank's Deadline on Uber Looms Large
Bitcoin prices plunged Thursday after South Korean regulators announced a crackdown. Among the changes: a ban on anonymous crypto accounts and the added authority to shut down exchanges if needed.
And Softbank's offer to take what could be a 14% stake in Uber expires at 3 pm ET. We'll be watching whether the Japanese conglomerate can get enough willing shareholders to get behind the deal.
Plus Apple CEO Tim Cook got a 47 percent pay raise for its fiscal year. But his new $12.8 million salary, as large as it is, pales in comparison to his stock compensation. That added nearly $90 million to his net worth.
And Cheddar Scoops! Snapchat is developing "Stories Everywhere," which will allow users to post content to other websites and apps. You heard it first here on Cheddar!
Eliott Wellenbach, vice president and institutional ETF strategist with Direxion, joined Cheddar News to discuss what traders are expecting from consumer spending ahead of the holidays and how they're positioning themselves following the latest inflation data and mortgage rates.
Netflix released its first What We Watched report which ranks nearly all of its movies and shows by the amount of hours viewed within the past six months.
