Core Viewpoint - Global financial leaders warn that government fiscal irresponsibility and geopolitical fragmentation may offset the productivity gains from AI technology [1][3] Group 1: Historical Parallels - ECB President Christine Lagarde and historian Adam Tooze highlight alarming similarities between the current "technological boom + trade protection + geopolitical fragmentation" and the path leading to the Great Depression in the 1930s [4] Group 2: Debt Crisis - Ken Griffin criticizes reckless government spending, particularly in the U.S., as the primary threat to the market, stating that "all governments are overspending, almost without exception" [5][10] - Larry Fink believes AI is not a bubble but will create a "winner-takes-all" scenario, where large companies with scale and data will dominate [5][11] Group 3: Tariffs and Fragmentation - Lagarde warns that geopolitical fragmentation and protectionism will hinder the data flow and energy access necessary for AI, leading to decreased efficiency [5] - Average tariffs between the U.S. and Europe have risen from 2% to over 12%, with a potential increase to 15%, which could negatively impact inflation [6][13] Group 4: Central Bank Independence - Lagarde emphasizes the importance of central bank independence, stating that fiscal consolidation cannot rely on central banks as a safety net [7][14] Group 5: Economic Disparities - Fink notes that the high cost of developing cutting-edge AI models, estimated at $1 billion, creates a barrier that only large-scale operators can overcome, exacerbating economic disparities [11] - Griffin points out that the capital expenditure for U.S. data centers is projected to reach $600 billion this year, indicating a significant financial commitment to AI infrastructure [11]

美联储1月维持利率不变的概率为95% 据CME"美联储观察"：美联储1月降息25个基点的概率5%，维持利率不变的概率为95%。到3月累计降 息25个基点的概率为15.4%，维持利率不变的概率为84.1%，累计降息50个基点的概率为0.6%。 来源：市场资讯 预测市场的交易者押注，贝莱德高管瑞克·里德尔（Rick Rieder）成为美联储下一任领导人的几率大幅 上升。周四上午，在Polymarket平台上，里德尔被特朗普选为下任美联储主席的几率为30%，仅次于前 美联储理事凯文·沃什的45%。十天前，里德尔在市场上的概率仅为3%。他的支持率上升，主要是以白 宫经济学家哈塞特为代价。哈塞特上月押注领先（其押注在12月2日达到峰值85%），但现在下降至 6%。 1月23日，人民币兑美元中间价报6.9929，上调90点。升值至2023年5月17日以来最高，升幅创2025年8 月25日以来最大。离岸人民币短线快速拉升。 市场押注贝莱德高管里德尔为美联储主席热门人选 ...

(Bloomberg) -- Pinegrove Opportunity Partners has raised $2.2 billion for its debut fund, closing a large investment round in a fast-growing niche of the venture capital market. The San Francisco-based firm is what’s known as a venture secondary. It buys existing ownership stakes in other venture-backed companies or funds rather than leading primary rounds that may fund a company’s future growth. The venture secondaries market has been growing and attracting interest as the traditional venture capital model ...

Core Insights - U.S.-listed Bitcoin and Ethereum exchange-traded funds (ETFs) experienced over $1 billion in outflows on January 21, indicating a significant shift in investor sentiment during a broader market downturn [1][2][3] - Smaller altcoin-linked products, particularly those associated with Solana and XRP, saw net inflows, suggesting differing institutional positioning amid recent market volatility [1] Bitcoin ETFs - Bitcoin ETFs recorded their largest one-day redemption since November, with outflows coinciding with a rally in conventional risk assets due to improved geopolitical conditions [3] - The iShares Bitcoin Trust at BlackRock had the highest outflow of $356.64 million, followed by Fidelity's FBTC with $287.67 million; Grayscale's GBTC has seen a total cumulative net outflow exceeding $25 billion since its conversion [4] - Despite recent outflows, Bitcoin ETFs have registered weekly net outflows of $1.19 billion, while January remains slightly positive overall with net inflows of $17.56 million [5] Ethereum ETFs - Ethereum ETFs mirrored the selling pressure seen in Bitcoin, with net outflows of $297.51 million on January 21, primarily driven by BlackRock's ETHA, which accounted for over $250 million of the redemptions [6] - Despite the outflows, Ethereum ETFs maintained close to $18.3 billion in assets, representing roughly 5% of Ethereum's market capitalization [7] - Ethereum briefly reclaimed the $3,000 level before declining to around $2,900, reflecting a nearly 13% decrease over the past week [7]

Core Insights - Superstate has raised $82.5 million in Series B funding, highlighting the increasing trend of tokenizing traditional Wall Street assets [1] - The funding round was led by Bain Capital's crypto division and Distributed Global, with participation from notable crypto investors [1] - The tokenization of assets has shifted from a novelty to a standard practice on Wall Street, with significant developments from major financial institutions [2] Industry Developments - Superstate is focused on creating infrastructure for moving traditional assets onto blockchain networks like Ethereum and Solana [2] - BlackRock's tokenized money market fund has seen substantial growth, expanding to several billion dollars since its launch on Ethereum [2] - The New York Stock Exchange is developing an on-chain platform for trading tokenized stocks and ETFs, indicating a broader acceptance of tokenization in traditional finance [3] Company Positioning - Superstate has become a preferred service provider for companies looking to tokenize their assets, particularly those with ties to the crypto industry [3] - The CEO of Superstate anticipates that tokenized stocks will attract retail investors, allowing them to utilize idle assets within the decentralized finance ecosystem [4] - Crypto-native companies are increasingly entering the tokenized stock market to compete with traditional finance firms [4] Market Trends - A report from BlackRock indicates that the convergence of crypto and traditional finance is creating lucrative financial opportunities [6] - The author of the BlackRock report emphasizes the accelerating trend of traditional securities being tokenized and digital assets integrating into traditional financial systems [7]

Core Viewpoint - Rick Rieder, BlackRock's fixed income chief, is emerging as a strong candidate for the Federal Reserve chair position, especially after positive comments from President Donald Trump [1][2]. Group 1: Candidate Evaluation - President Trump described Rieder as "very impressive" following a recent meeting, highlighting his potential as a candidate for the Federal Reserve chair [2]. - Rieder is among a select group of finalists to succeed current Chair Jerome Powell, whose term ends in May [2]. Group 2: Candidate Selection Process - Trump mentioned that the candidate pool has been narrowed down from 11 to potentially one, indicating a decisive selection process [2].

Group 1 - BlackRock's spot bitcoin and ether ETFs have seen significant outflows, with $708.71 million in net outflows for bitcoin ETFs and $297.51 million for ether ETFs, indicating a trend of redemption-driven settlement rather than discretionary selling [2][4] - Over the past few hours, wallets linked to BlackRock's ETFs transferred more than $430 million worth of crypto to Coinbase Prime, marking one of the largest ETF-related transfer clusters this week [1][3] - The transfers included approximately 3,070 bitcoin valued at $276 million and about 52,800 ether worth around $157 million, reflecting substantial operational flows rather than direct market selling [2][4] Group 2 - BlackRock's iShares Bitcoin Trust (IBIT) remains the largest institutional holder of bitcoin, with hundreds of thousands of BTC held on behalf of clients, while the iShares Ethereum Trust (ETHA) is one of the largest regulated vehicles for ether exposure [6] - The recent transfer activity follows a previous transfer of roughly $300 million in bitcoin and ether tied to BlackRock wallets, which coincided with a brief price surge for bitcoin [5] - As of mid-January, bitcoin was trading just under $90,000 and ether near $3,000, with the broader crypto markets attempting to stabilize after a period of volatility [7]

国芯网[原:中国半导体论坛] 振兴国产半导体产业！ 不拘中国、 放眼世界 ！ 关注 世界半导体论坛 ↓ ↓ ↓ 1月22日消息，在 世界经济论坛期间，英伟达CEO黄仁勋对谈贝莱德CEO拉里·芬克。 黄仁勋称，自己最后悔的事情，就是曾经在英伟达市值3亿美元的时候出售股票，给父母买了一辆奔驰车，称"这是世界上最贵的车。" 近日，在瑞士达沃斯举行的世界经济论坛期间，英伟达创始人兼首席执行官黄仁勋与贝莱德集团首席执行官拉里·芬克展开对谈。 期间黄仁勋透露了自己人生中最后悔的一件事。在英伟达上市初期出售股票为父母购买奔驰轿车，并称从当前公司市值来看，这辆车堪称"世界上最昂贵 的汽车"。 据黄仁勋在对谈中披露，英伟达与贝莱德均于 1999 年完成首次公开募股，当时英伟达上市后的估值仅为 3 亿美元。 为了给父母一份"不错的礼物"，他在公司上市后不久便出售了部分个人持有的英伟达股票，用所得资金为父母购买了一辆梅赛德斯 - 奔驰 S 级轿车。 拉里·芬克在现场还特意开玩笑称，两家公司上市后投资年化收益存在明显差距，贝莱德的投资年化收益为 21%，而英伟达的投资年化收益则高达 37%， 这一对比更凸显出黄仁勋当年售股决策的"遗 ...

Group 1: Ethereum's Market Position - Ethereum is leading the tokenization of real-world assets, holding 66% of all tokenized assets, significantly ahead of Binance's BNB Chain at 10% [1] - Other competitors include Solana at 5%, Arbitrum at 4%, Stellar at 4%, and Avalanche at 3%, all of which have a combined market share well below Ethereum's [1] Group 2: Price Performance and Institutional Interest - Despite Ethereum's price being around $3,000, nearly 40% below its all-time high, Wall Street is making significant investments in Ethereum [3] - JPMorgan selected Ethereum for its first tokenized money market fund, valued at $9 trillion, and Morgan Stanley filed for an Ethereum exchange-traded fund [4] - BlackRock's iShares Ethereum Trust ETF has $11 billion in assets under management, with similar ETFs from Grayscale and Fidelity also reporting billions in AUM [4] Group 3: Corporate Investment Trends - Digital asset treasury firms are actively purchasing and staking Ethereum, with Bitmine acquiring an additional $100 million, adding to its $13 billion holdings [5] - Corporate players are typically long-term holders, and their acquisition of Ethereum may reduce liquid supply, potentially supporting price increases [5] Group 4: Broader Market Outlook - BlackRock's 2026 outlook also anticipates growth in the artificial intelligence and defense sectors, suggesting that the ongoing AI revolution has significant implications [6] - The report indicates that while some investors may take profits in AI companies, the overall data does not suggest a bubble [6]

In this article DYNF VLUE NVDA AAPL MSFT Apple CEO Tim Cook. Apple is one of the iShares U.S. Equity Factor Rotation Active ETF's top three holdings. (Kena Betancur/Bloomberg) With its $31 billion iShares U.S. Equity Factor Rotation Active exchange-traded fund, BlackRock has a major hit on its hands. But the fund's biggest test may be yet to come. ...