Bitcoin ETFs hit massive inflows this week. Amazon AI could lead to job cuts in the coming years. Robinhood launches new tools like trading simulations, and, Revolut will launch AI assistant while expanding in Europe. Jane King with the latest from the NYSE.
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Thanks from the US spot Bitcoin exchange traded funds recorded $412.2 million in net inflows on Monday.
It was driven by BlackRock funds.
This extended their streak to six days and pushed total cumulative inflows to $46 billion.
The six-day run of inflows began on June 9th and is now absorbed over $1.8 billion in capital, according to data from Soso Value.
The run has continued despite escalating geopolitical tensions.
Including renewed conflict between Iran and Israel.
Well, Amazon plans to reduce its workforce in the coming years due to increased use of artificial intelligence.
CEO Andy Jazzy says AI is a once in a lifetime tech change altering Amazon's operations.
Amazon doesn't expect to have mass layoffs in the near future like it did in 2022 and 23, with the decrease in headcount expected to happen largely through attrition, according to the Wall Street Journal.
Well, Robin Hood has launched.
New features in an attempt to attract more traders.
The Wall Street Journal says new features are part of a 10 year strategy to build its business beyond its trading platform.
One of the tools such users preview simulated returns before options trades.
The brokerage is also launching advanced charting capabilities on mobile devices borrowed from its desktop trading platform launched last fall.
The charts will allow traders to take a more detailed real-time look at markets while placing orders in just a few taps and. will soon launch its AI financial assistant, a key goal for 2025.
The FinTech firm has grown rapidly, serving 52.5 million customers last year and boosting revenue 72% to €3.1 billion and aims to expand further in the coming year.
Revolut is also investing €1 billion in France, applying for a local banking license and pursuing new banking permits globally with 10 applications underway, and that's the latest headlines.