107.9FM NYJ/LA

Translate This Page

El Salvador’s bitcoin “volcano bond” gets approved as the country doubles down on crypto

Posted by Goyo Large on Friday, December 15, 2023 Under: #WATCHLiST

El Salvador lavas crypto (Alex Peña/Getty Images)

Yesterday’s Market Moves
Dow Jones
37,090 (+1.40%)
S&P 500
4,707 (+1.37%)
Nasdaq
14,734 (+1.38%)
Bitcoin
$42,989 (+3.64%)

Hey Snackers,

A Doritos hangover isn’t just when your orange-coated fingers fill you with regret. Pepsi teamed up with a distiller to create a Nacho Cheese Dorito-flavored alcoholic drink. Early reports said the clear liquor smells and tastes like a Dorito.

The Dow set a fresh record high yesterday after the Fed held interest rates steady for the third time in a row, and signaled good chances for rate cuts next year. 

🎧 Question: Do apps and gadgets run your life, or are you on Do Not Disturb 24/7 with wired headphones? Help us make Snacks more relevant for you by taking our tech survey.

DISRUPTION

El Salvador’s bitcoin “volcano bond” gets approved as the country doubles down on crypto

For the crater good… El Salvador’s proposed volcano bonds erupted back into public consciousness this week after the country’s crypto regulator said they could be issued within months. First proposed in 2021, the bonds sought to raise $1B to purchase bitcoin and build Bitcoin City — a tax-free zone in the Central American country that would host crypto miners powering their rigs with renewable geothermal energy from a volcano.

  • Coin of the realm: Also in ’21, El Salvador became the first country to make bitcoin legal tender (alongside the US dollar), but to mixed results. It’s since spent $100M+ on BTC.

  • Freedom isn’t free: Last week the country announced its Freedom Visa program. People can give the government $1M worth of bitcoin or tether in exchange for a long-term residency permit and a path to citizenship.

Power-hungry computers… Crypto mining is highly energy-intensive. Enter El Salvador, a top geothermal-energy producer, which said it used volcano-generated power to mine bitcoin two years ago. Mining companies have long sought alt power sources to lower operation costs: in 2018, miners flocked to Iceland partly because of its cheap geothermal power. Bit Digital said this summer that it planned to expand its presence there. In the US, Marathon Digital said it’d use methane off-gassing from a Utah landfill to power its rigs.

THE TAKEAWAY

Leaning in can be risky… Demand for cheaper crypto-mining infrastructure is there, but it’s TBD whether El Salvador’s big bet will pay off for the debt-laden country. The more it invests in crypto with projects like Bitcoin City, the more it’s subject to price swings. The IMF is worried that crypto volatility poses risks to El Salvador’s economy, which is already one of Central America’s poorest. Just two years ago, 65% of Salvadorans didn’t want the gov’t spending money on BTC, with 80% saying they lacked confidence in the coin.

SPONSORED BY CBOE

Crossing the finish line with index options.

Lap the competition. It’s all about the benefits. 

Index options and ETF options may be similar, but index options come with some unique benefits that are worth exploring.* 

💰 Cash Settlement: Trades settle in cash directly to your account.

✅ European-Style Settlement: Know exactly when your contract is exercised.

💸 Tax Savings: Save money on your trades with a potential 60/40 tax treatment.

👆 Flexible Options: Choose from various contract sizes and expiration dates.

Make index options work for you and download Cboe’s complete Benefits to Index Options guide.

NETFLEX

Netflix shares full viewership data for the first time, after unions demand transparency

Welcome to the Upside Data… Netflix opened the Mothergate to its streaming data this week, sharing the # of hours viewed for 18K — or 99% — of its shows and movies in the first half of this year. Previously Netflix shared only a top-10 list of its most-watched titles. Now viewers know that, from January through June, “The Night Agent” (season one) was the No. 1 show (812M hours viewed), while “Ginny & Georgia” was No. 1 when including all seasons. More than half of all streaming time was for Netflix Originals, and non-English content had a moment.

  • Timing: Netflix’s data dump follows the resolution of months-long strikes by Hollywood writers and actors. One key point of contention: transparency around viewership data to help decide how much talent should be paid.

Opening the books… Netflix said it didn’t share its data early on because it didn’t want competitors to use it as a cheatsheet (think: creating copycats of top-performing shows). Back then, co-CEO Ted Sarandos said creatives liked the break from cable networks’ harsh data spotlight exposing which shows flopped or flew. But as Netflix’s audience got bigger, so did creatives’ mistrust over whether they were getting their fair share of the $$ pot.

  • Season finale: As part of the recent agreements between unions and studios, streamers agreed to pay out residuals for content watched by over 20% of US users within 90 days of its release, which… unions need data to determine.

THE TAKEAWAY

Transparency builds trust… but too much can give rivals an edge. Sarandos said Netflix wouldn’t break out shows’ performance by region because that would be oversharing competitive intelligence. By choosing to release its #s publicly versus only with unions, Netflix could be trying to set the streaming-industry standard for how data should be shared.

What else we're Snackin'
  • ParkTesla is recalling nearly all 2M of its cars on US roads for a software update to address safety concerns with its Autopilot. Safety regulators have led a two-year probe examining 1K+ crashes involving the feature.

  • Extra: OpenAI will pay media titan Axel Springer (Business Insider, Politico) to use its news content in ChatGPT answers and training. Such licensing deals could help AI companies reduce copyright-infringement lawsuits.

  • Aye: The FDA warned that all eye drops labeled “homeopathic” should be pulled off the market. Reports of bacterial infections causing blindness and death have led 25+ brands to recall their eye drops this year.

  • JabPfizer stock fell to its lowest level in a decade yesterday after the pandemic power player gave a disappointing financial outlook for next year. Demand for its Covid vax and Paxlovid treatment has plunged.

  • BigStay: Citi will offer early bonuses to some staffers to encourage voluntary exits. Companies are struggling with high headcounts as US quit #s drop and cautious workers hunker down to save $$.

🍪 Thanks for Snacking with us! Want to share the Snacks? Invite your friends to sign up here.

Snack Fact Of the Day

The world record for the # of people skiing in jeans — 3,114 — was set last week in Wyoming

Thursday
  • Earnings expected from Costco and Lennar

Authors of this Snacks own bitcoin and shares of: Tesla

Advertiser’s disclosures: There are important risks associated with transacting in any of the Cboe Company products discussed here. Before engaging in any transactions in those products, it is important for market participants to carefully review the disclosures and disclaimers contained at https://www.cboe.com/us_disclaimers.

Under section 1256 of the IRS tax code, profit and loss on transactions in certain exchange-traded options, including SPX options, are entitled to be taxed at a rate equal to 60% long-term and 40% short-term capital gain or loss, provided that the investor involved and the strategy employed satisfy the criteria of the tax code. Investors should consult with their tax advisors to determine how the profit and loss on any particular option strategy will be taxed. Tax laws and regulations change from time to time and may be subject to varying interpretations.

In : #WATCHLiST 


Tags: el salvador  bitcoin  volcano bond  gets approved  as  the  country  doubles down  on  crypto  eth  doge  avax  xlm  btc  etc 

Panerai Luminor "Blackseal" PAM76 Titanium Black & Silver dial 44mm Automatic wa

PANERAI WATCH
LUMINOR / Ref. PAM76
44mm, Titanium
W525050
Panerai Luminor "Blackseal" PAM76 Titanium Black & Silver dial 44mm Automatic watch
TRY IT ON
G&S Price: $22,000

SALE PRICE

$16,900 


    HOT 103.1 FM HOUSTON

    Fashion director finds. Everything our fashion office is obsessed with right now.

    Shop Janelles's finds


     
     
    E*TRADE from Morgan Stanley 
    View in browser   |   Log on
     
     
     
    Make the most of your cash in 2025
     
    Boost your earning power with a high-yield savings and bank certificate of deposit (CD) account.
    BANKING
     
    You’re already building your portfolio with E*TRADE from Morgan Stanley. Now, unlock more of your financial potential and open a high-yield bank account from Morgan Stanley Private Bank, Member FDIC, on etrade.com.
    Bank smarter with some of today’s best rates
    Bank CD accounts
    Bank CD accounts
     
    Plus, even more reasons to bank with us
    Award Icon
    Award-winning banking*
    Our accolades speak for themselves
     
     
    Check Icon
    Easy money management
    With E*TRADE from Morgan Stanley’s best-in-class digital experience6
     
     
     
    Lock Icon
    FDIC
    protected

    Up to applicable limits. Certain conditions must be satisfied.7
     
     
     
    Learn how to manage cash strategically
    Not sure which account is right for you? Learn how to use cash as an asset class to balance your short-tern needs with your long-term goals. Read article
     
     
    Facebook twitter Youtube
    Privacy Pledge  |  Security Center  |  FAQs
     
     
     
     
    *February 3, 2025. Buy Side from Wall Street Journal. Reprinted with permission by Dow Jones & Company, Inc.

    1. As of 2/21/2025, the Annual Percentage Yield (APY) of the Premium Savings Account offered by Morgan Stanley Private Bank, National Association is 4.00%. Your interest rate and APY may change at any time and fees may reduce earnings. Please visit etrade.com/ratesheet for information regarding this account's current interest rate and corresponding APY.

    2. Based on comparison to the National Deposits Savings Average Annual Percentage Yield (APY) as published on the FDIC Weekly National Rates and Rate Caps Weekly Update, as of January 21, 2025.

    3. Certificate of Deposit (CD) interest rates are fixed from the start of the term until their maturity date.

    CD offerings can change on a daily basis. The interest rate on the Settlement Date can be higher or lower than the interest rate that was available at the time of account opening. If your Settlement Date is within 10 calendar days of the account opening, the applied interest rate will be the highest of the prevailing interest rate on the date of account opening or the date of Settlement. Maturity is determined based on the Settlement Date and the term selected. The APY is based on no withdrawal of credited interest and no redemption prior to the stated maturity date. A withdrawal will reduce earnings. See the CD Rate Table page at etrade.com for information on term lengths, current interest rates and corresponding APYs.

    Interest is compounded daily. Interest will compound from the Settlement Date until the last full day before the date of withdrawal using the daily balance method. Accrued interest posts to your account on a quarterly basis, unless you select at account opening to receive interest via check.

    4. As of 2/21/2025, the Annual Percentage Yield (APY) of the Certificates of Deposit is up to 4.25%. Your interest rate and APY may change at any time until funding is settled, and penalties may reduce earnings. The APY is based on no withdrawal of credited interest and no redemption prior to the stated maturity date. Please visit etrade.com/ratesheet for information regarding the current interest rate, corresponding APY, and account terms.

    5. Bank CD accounts must be opened and funded to lock in a fixed rate.

    6. For the StockBrokers.com 2024 Annual Awards, all 17 U.S. equity brokers reviewed were assessed on over 200 different variables across eight areas: Commissions & Fees, Investment Options, Platforms & Tools, Research, Mobile Trading, Education, Ease of Use, and Overall. E*TRADE from Morgan Stanley was awarded the #1 Investor App, and #1 Web Trading Platform. In addition, E*TRADE received fifteen Best in Class distinctions: Overall Rating, Commissions & Fees, Research, Platforms & Tools, Investment Options, Mobile Trading Apps, Education, Bank Brokerage, Beginners, Futures Trading, IRA Accounts, Options Trading, Penny Stock Trading, High net Worth Investors, and Ease of Use. E*TRADE's star ratings for all category rankings out of 5: Overall (5.0 stars), Customer Service (4.0 stars), Commissions & Fees (4.5 stars), Research (5.0 stars), Platforms & Tools (4.5 stars), Mobile Trading Apps (5.0 stars), Investment Options (4.5 stars), Education (5.0 stars), Ease of Use (5.0 stars), Customer Service (4.0). Read the 2024 Online Broker Review.

    7. The Premium Savings Account gives Morgan Stanley Private Bank, National Association, Member FDIC the ability to send any amount held on deposit in your Premium Savings Account to other depository accounts at Federal Deposit Insurance Corporation (“FDIC”) member banks with the purpose of affording you additional FDIC insurance coverage. The Program is designed to offer up to $500,000 in FDIC coverage to individual accounts (up to $1 million for joint accounts). Certain conditions must be met. Learn more.

    Deposits held in Certificate of Deposit accounts are FDIC insured up to $250,000. Learn more.

    No minimum initial deposit is required to open a Premium Savings Account and Certificate of Deposit Account. However, account must be funded within 30 days to remain open.

    This is a promotional email from Morgan Stanley Private Bank, National Association. Click here to unsubscribe.

    Morgan Stanley Private Bank, P.O. Box 484, Jersey City, NJ 07303-0484

    Please see our Privacy Pledge for details about how Morgan Stanley handles personal information.

    Banking products and services are provided by Morgan Stanley Private Bank, National Association, Member FDIC.

    © 2025 E*TRADE from Morgan Stanley. All rights reserved. E*TRADE Copyright Policy







    Invest, spend, and earn 2.05% APY*–all through your brokerage account.
    Our goal at Robinhood is to democratize finance. This means delivering products that help you do more with your money and improve your life. Today, we're excited to introduce Cash Management, a new feature to give you more flexibility with your brokerage account.
    JOIN THE WAITLIST
    Flexible Spending
    Use your Robinhood debit card anywhere Mastercard® is accepted around the world.
     
    Earn 2.05% APY
    Your uninvested cash is moved to banks in our program that pay you 2.05% APY*. Like all variable rates, this could go up or down over time.
     
    FDIC Insurance
    Your cash in the program banks is eligible for up to $1.25 million of FDIC insurance, or up to $250,000 per bank, subject to FDIC rules.
     
    75,000+ ATMs
    Don't pay fees at any of the 75,000+ ATMs in our network.
    JOIN THE WAITLIST


    See the source image



    For the next two weeks, you can earn increasing levels of Stock-Back™ rewards when you shift your everyday spending to your Stash debit card.* 

    Every qualifying swipe over $5 gets you closer to leveling up your Stock-Back rewards. Levels start tomorrow and reset to zero on Monday, November 18.

    Follow Us

     

    Flag Counter


    Flag Counter

    Make a free website with Yola