Worldwide in 2017, 430 initial coin offerings raised $4.6 billion through November, says a report from the Crypto Valley Association and PwC. Many US entrepreneurs are conducting their ICOs in foreign jurisdictions, and so far, the dominant hubs are Singapore and Switzerland.
Apartment List, a startup apartment marketplace that says it offers a "personalized, seamless, white-glove experience" for people looking for places to rent, raised $50 million in its most recent funding round. The startup plans to broaden its service beyond large apartment complexes to smaller multifamily properties and single-family homes.
Varo Money -- a mobile banking startup that doesn't charge for overdrafts, foreign transactions or falling below minimum balances -- raised $45 million in its latest funding round. The startup uses machine learning to spot prospects for loan offers.
Senior Democratic senators are blocking a vote on a bill intended to help the auto industry develop self-driving vehicles and put them on the nation's streets and highways. Critics including Sen. Dianne Feinstein, D-Calif., are concerned about potential safety risks.
Chinese artificial intelligence startup Rokid reportedly raised $100 million in its most recent funding round, which was led by Temasek. Products developed by the startup include smart speakers, augmented glasses and a voice assistant.
A number of analysts are warning of a possible downturn for Boeing, a leader of the stock market rally with a 90% gain in 2017 and a further 19% rise this year. Some contend the stock is too high above its 50-day moving average, and technical analyst Carter Braxton Worth is among those who suggest considering a short position in the near future.
While most indicators show the market rally is set to continue, technical analyst Michael Kahn, CMT, points out the upturn on the Standard & Poor's 500 index is virtually parabolic, a strong signal an abrupt meltdown could follow.
Saudi Aramco is committed to holding an initial public offering in the second half of this year but is waiting for the government to decide where to list, CEO Amin Nasser says. The entire company will be listed, rather than creating a subsidiary for the IPO, he says.
Goldman Sachs stock dropped 2% on release of its latest earnings report, but technical analyst Serge Berger writes that the loss was not severe and could presage an upturn. The stock has been largely in consolidation since March, but Berger notes that the range of consolidation is narrowing and that other indicators suggest the stock could be about to find support and set out on an ascent.
Investor-protection issues must be addressed before exchange-traded funds linked to bitcoin are allowed, according to the Securities and Exchange Commission. The SEC has asked sponsors that have sought approval of bitcoin ETFs to withdraw their applications.