Binance Ban, Tesla Trouble, Virgin Galactic And Facebook Success

While there are no changes on global fundamental fronts (markets are waiting for the Biden Infrastructure Plan and data on the US labor market, as well as the OPEC + decision), we can focus on more local news.

As usual, let's start with what is unpleasant for the cryptocurrency market. The largest cryptocurrency exchange in the world received a ban from the UK Financial Conduct Authority (the country's key regulator). Binance Markets Limited "is not authorized to engage in any regulated activity in the UK."

This is very unpleasant news not only for the cryptocurrency market, but also for Tesla, which invested $1.5 billion in Bitcoins and runs the risk of going into deep minuses with this investment. Moreover, Tesla's problems are not limited to this. Chinese regulators said Tesla will "recall" nearly 300,000 Chinese and imported Model 3 and Model Y vehicles for online software updates related to assisted driving. The only positive thing in this situation: the owners are not obliged to return their cars, the update will take place online.

But Richard Branson had a holiday. Its Virgin Galactic shares soared 14% after the company received the green light from the FAA to carry passengers into space. Recall that Virgin Galactic's Unity spacecraft is designed to accommodate up to six passengers along with two pilots. The company has about 600 booked tickets for future flights, which are selling for between $ 200,000 and $ 250,000 apiece.

Mark Zuckerberg was also happy yesterday - his Facebook entered the trillionaire club - the company's capitalization exceeded $ 1 trillion.