The Winklevoss twins lose, millennials will win, and bitcoin all day: Money and markets news roundup

Image for article titled The Winklevoss twins lose, millennials will win, and bitcoin all day: Money and markets news roundup

Image: Bloomberg (Getty Images), Dado Ruvic (Reuters), Getty (Getty Images), Dado Ruvic (Reuters), Photo: Callaghan O’Hare/Bloomberg via Getty Images (Getty Images), Jakub Porzycki/NurPhoto (Getty Images), Edgar Su (Reuters), Tom Williams/CQ-Roll Call, Inc via Getty Images (Getty Images), Illustration: Dado Ruvic (Reuters)

Novo Nordisk injection pens

Novo Nordisk is the current market leader for diabetes and obesity drugs.
Image: Bloomberg (Getty Images)

Zealand Pharma stock soared more than 34% on Monday, after the company announced strong results in a clinical trial for a liver disease drug that is also being tested for weight loss.

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Illustration shows a representation of the cryptocurrency and Bitcoin logo

The price of Bitcoin has risen 15% in just four days to $59,396.
Image: Dado Ruvic (Reuters)

Millennial family cooking in kitchen

About 80% of millennial male respondents and 79% of female respondents said they are trying to minimize their carbon footprint.
Image: Getty (Getty Images)

A massive transfer of wealth is set to take place over the next decade, with millennials set to come out on top. And their differing attitudes from preceding generations will change where the world’s wealth will be invested, forcing asset managers to adapt.

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Gold coins with letter B on them

Bitcoin has risen over 28% since the start of the year.
Image: Dado Ruvic (Reuters)

Bitcoin reached a two-year high on Tuesday, inching its way to an all-time record high.

The original crypto currency rallied for the second day on Tuesday, surpassing $57,000 for the first time since 2021. On Tuesday morning, its price had slightly dropped to $56,704.

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A photo of Cameron Winklevoss, left, and Tyler Winklevoss, right seated on a stage.

Cameron Winklevoss, left, and Tyler Winklevoss, right.
Photo: Callaghan O’Hare/Bloomberg via Getty Images (Getty Images)

What’s cooler than giving away a million dollars? Giving away a billion dollars. The Winklevoss twins Cameron and Tyler, thrust into pop-culture fame after 2010’s Facebook founding dramatization The Social Network, reached a settlement Wednesday (Feb. 28) with the New York State Department of Financial Services (NYFDS) to give back $1.1 billion to customers of their cryptocurrency exchange Gemini.

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Photo: Jakub Porzycki/NurPhoto (Getty Images)

Coinbase users’ accounts showed a “zero balance” on Wednesday afternoon. Coinbase confirmed the problem on its status page at 12:40 p.m. ET but claims customer cryptocurrency funds are safe. The cryptocurrency exchange blames the outage on increased traffic, as Bitcoin’s price surged past $60,000.

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A sliver of light shining on four physical bitcoin representations.

Looks like money.
Photo: Edgar Su (Reuters)

Bitcoin had a monster February. Its value jumped more than 40% since the beginning of the month, and it’s been surging to heights not seen since 2020 seemingly every day. But investing in the cryptocurrency itself would not have been the most lucrative trade to make: The trading exchange Coinbase and the miner Marathon Digital Holdings both outperformed the coin, to the tune of 59% and 45% gains, respectively.

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Physical representations of the bitcoin cryptocurrency are seen in an illustration.

Shining bright.
Illustration: Dado Ruvic (Reuters)

Bitcoin is not just having a good week, surging to its highest levels since late 2021, it’s also having a good month. A great month, actually: It’s up more than 40% in February, the cryptocurrency’s best performance since December 2020.

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Eric Beiley, executive managing director of The Beiley Group at Steward Partners, tells Quartz whether he thinks there’s still room to run for the AI chip stock

A picture of Goldman Sachs CEO David Solomon

A skeptical man.
Photo: Tom Williams/CQ-Roll Call, Inc via Getty Images (Getty Images)