(Bloomberg) -- Bitcoins rally to near a record high is reawakening animal spirits not just in the cryptocurrency market itself, but in the broader financial world that had left the digital asset sector for dead last year.

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The change of heart can be seen in the improved outlook for deal flow, highlighted by Robinhood Markets Inc.s purchase of crypto exchange Bitstamp Ltd. on Thursday, to a resurgence of venture-capital investments to what some analysts are expecting to be record amount of initial public offerings of companies connected to the industry.

In the crypto market itself, theres been a notable return of the hallmarks of previous bull markets: Celebrities are once again promoting crypto, and new tokens are being created at a rate of thousands per day, with some 330,000 coins debuting in the Ethereum ecosystem in April and May alone, according to crypto data tracker Dune.

Taken all together, it demonstrates that theres nothing like rising prices to make investors forget about past financial carnage including bankruptcies of crypto exchange FTX and lender Celsius in a market thats most famous for its scandals and boom-and-bust cycles.

Investors often have short memories, said Campbell Harvey, a finance professor at Duke University. When market sentiment is high, they put extra weight on good news and tend to downplay the bad news that might have happened in the past.

Bitcoin climbed this week to within 2.5% of the all-time high of $73,798 reached in mid-March amid surging demand for recently authorized exchange-traded funds. While the bellwether digital currency is up almost 70% already this year, the gains pale in comparison to the returns of extremely speculative memecoins such as Dogwifhat and Bonk.

This years boom was kicked into high gear when the Securities and Exchange Commission approved ETFs investing directly into Bitcoin in January. Then in May, the agency made a step toward approving similar spot Ether ETFs, a move many in the industry have seen as caving to increased political pressure to legitimize crypto and create new laws that would make it easier for digital-asset companies to operate.

US Bitcoin ETFs attracted inflows for an unprecedented 18th straight day through Thursday. Net subscriptions for the group of almost a dozen products stood at $15.6 billion, taking total assets to $62.3 billion, according to data compiled by Bloomberg.

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Large financial companies are wading deeper into crypto. Earlier this week, Mastercard resumed letting users of the worlds biggest crypto exchange, Binance, make purchases on its network. Binance settled with the Justice Department over anti-money laundering and other violations last year, and is still fighting charges from the SEC.

Over the past several months, we have reviewed the enhanced controls and processes that Binance has put into place, a Mastercard spokesperson said in a statement. It is based on those efforts that we have decided to allow Binance-related purchases on our network. This status is contingent on ongoing reviews.

Crypto MNA is heating up as well. This week, Bitcoin miner Core Scientific Inc. rejected an unsolicited $1 billion takeover offer from artificial intelligence startup CoreWeave Inc., just days after announcing a partnership. On Thursday, Robinhood said it will acquire Bitstamp for $200 million to expand its crypto business in Europe.

A US regulatory framework creates a velocity of innovation environment that accelerates an institutions buy-over-build decision-making and drives a robust M&A environment, Elliot Chun, partner at MNA consultant Architect Partners, said in a recent note. I will be bold and say that in May 2024, our industry officially transitioned from #TheGreatPurge and entered into #TheGreatSurge.

Crypto funds are flourishing, with more such funds launching in the first quarter than in any time since the second quarter of 2021, according to Crypto Fund Research.

Talk of new crypto IPOs is reviving, with Kraken said to be in talks for a pre-IPO funding round, while eyeing an IPO as soon as in 2025, Bloomberg reported Thursday. If crypto prices keep increasing, the next 18 months could see the biggest wave of crypto-related IPOs on record, according to Renaissance Capital, a pre-IPO researcher.

I do think that if these companies can point to explosive revenue growth or strong earnings, that will get investors interest, said Matthew Kennedy, senior market researcher with Renaissance. I suspect that the financials are there, and that investors will take them with a grain of salt they know its a cyclical business, plenty of companies are like that.

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Bitcoin Rally and 'Short Memories' Reignite Everything in Crypto - Yahoo Finance

Nearly three years ago, the first season of We Are Lady Parts on Peacock was a blast of giddy energy, with six episodes of punk rock, friendship and solidarity. After a far-too-long wait, the British comedy series is back tomorrow (May 30) with six new episodes, a brief but joyous return to the world of the all-female Muslim punk band Lady Parts. My only disappointment about the season is that its taken so long to arrive, and is over far too quickly.

Where to stream 'We Are Lady Parts'

"We Are Lady Parts" is streaming on Peacock

Lady Parts were just getting started as a band by the end of the first season, but as the second season opens, theyve already completed a U.K. tour and have amassed a decent-size fan base. Creator Nida Manzoor, who writes and directs every episode, smartly moves the story forward while retaining the character-focused approach that made the first season so appealing. Lady Parts may be getting famous, but that doesnt solve any of the individual band members personal problems.

Although lead guitarist Amina (Anjana Vasan) is still clearly the main character, anchoring every episode with her Sex and the City-style narration, season 2 offers extended arcs for all four band members, plus manager Momtaz (Lucie Shorthouse). Its a bit more balanced than the first season, which spent much of its time on Aminas internal conflict over whether to join the band.

Everyone in Lady Parts is now firmly committed to the band, and one of the seasons greatest strengths is that its always a celebration of their personal and artistic connection, even when faced with outside challenges.

Newly confident, Amina declares that shes in her villain era and goes after what she wants, even though shes not always sure what that is. Shes still pining for Ahsan (Zaqi Ismail), the brother of Lady Parts drummer Ayesha (Juliette Motamed), although she ends up dating his white co-worker instead. Romantic indecision aside, shes more assertive and ambitious this season, and that gives the show space for the other characters to deal with their own issues.

Ayesha is happy in a new relationship with an outgoing, supportive woman, but she still hasnt been able to come out to her parents. Bassist Bisma (Faith Omole) struggles with her self-image as a responsible wife and mother but also a rebellious punk rocker, and shes showcased in some of the seasons most eye-catching set pieces. Band frontwoman Saira (Sarah Kameela Impey) continues to fight for Lady Parts integrity, even as shes tempted by the prospect of a high-powered manager and a deal with a major record label.

Even Momtaz, who was more of a background presence in the first season, gets her own empowering arc, as she examines her place in Lady Parts career and the music industry as a whole. Aspects of the industry storyline feel rushed, given the limited number of episodes and their short running times, but Manzoor captures the entire life cycle of an up-and-coming band thrilled by the prospect of stardom, then disillusioned by corporate interference.

During the long break between seasons of We Are Lady Parts, Manzoor wrote and directed the action-comedy feature film Polite Society, and she brings some of that grand, stylized approach to the musical sequences in the new season. The first season had its share of catchy songs, but season 2 features even more original music, including an improbably rousing number about responding to work emails at a reasonable hour.

Lady Parts is a punk band, but their original songs in season 2 feature touches of country and rockabilly, too, and theyre catchy and fun while getting across the adversity that the characters often face as Muslim women in the U.K.

Manzoor, who writes the original songs with her siblings, also makes brilliant use of some unlikely covers: Amina brings poignancy to her solo rendition of Extremes More Than Words, Lady Parts rocks out to a hard-hitting version of Britney Spears Oops! I Did It Again while playing a for-hire gig at a wedding, and Bisma delivers an anguished, slowed-down take on Nina Simones Dont Let Me Be Misunderstood while working through her family issues. The show even comes close to making Hoobastanks goopy power ballad The Reason tolerable during a climactic romantic declaration.

Each song is presented via elaborate musical sequences, with magical-realist touches that make their way into the non-musical scenes as well. Bismas tension with her daughter is represented by a remote control that allows her to literally pause family arguments to vent her frustrations, and Sairas potential censorship by the bands new label manifests itself in her voice being forcefully silenced.

Those heavy moments never drag We Are Lady Parts into sad-com territory, though. This is a comedy that always remembers to be funny, delivering consistently clever jokes while staying true to its characters lived experiences. Bingeing the new season may only offer a short window of time to spend with those characters, but its worth savoring every minute.

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'We Are Lady Parts' is back for season 2 and it's an irresistible binge - Tom's Guide

As technology continues to advance toward higher realms, a new mechanism has entered the crosshairs of scientists: quantum computing. This process uses the principles of fundamental physics to "solve extremely complex problems very quickly," according to McKinsey & Company.

Using logic-based computing to solve problems isn't a new phenomenon; it was (and remains) the basis for artificial intelligence and digital computers. However, quantum computers are "poised to take computing to a whole new level," McKinsey said, because the introduction of physics into computing has the "potential tosolvevery complex statistical problems that are beyond the limits of today's computers." Quantum computing alone "could account fornearly $1.3 trillion in valueby 2035."

However, while organizations like McKinsey are clearly high on the potential for quantum computing, others say that it could create a slew of new problems.

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Quantum computing is a huge leap forward because "complex problems that currently take the most powerful supercomputer several years could potentially be solved in seconds," said Charlie Campbell for Time. This could open "hitherto unfathomable frontiers in mathematics and science, helping to solve existential challenges like climate change and food security."

Quantum computing is already being used for more practical purposes. One company called D-Wave Systems has "used its quantum computer to help clients determine driver schedules for grocery-store deliveries, the routing of cross-country promotional tours and cargo-handling procedures at the port of Los Angeles," said Bob Henderson for The Wall Street Journal. It could even help optimize seemingly minute problems, such as the arranging of planes at airport gates. If trying to arrange just 50 planes at 100 gates, the number of possibilities would be "10 to the hundredth power far more than the number of atoms in the visible universe," said Henderson. No standard computer "could keep track of all these possibilities.But a quantum computer potentially could."

While ubiquitous usage of quantum computers is a long way away, there are some strides being made, as Google "has built a quantum computer that's about 158 million times faster than the world's fastest supercomputer," said Luke Lango, a senior investment analyst at InvestorPlace. And quantum theory in general "has led to huge advancements over the past century. That's especially true over the past decade," as scientists "have started to figure out how to harness the power of quantum mechanics to make a new generation of superquantum computers."

But with new advancements come new sets of problems. Case-in-point: Quantum computers have "become a national security migraine," said Campbell for Time, because its ability to solve problems "will soon render all existing cryptography obsolete, jeopardizing communications, financial transactions and even military defenses."

This would be "potentially a completely different kind of problem than one we've ever faced," Glenn S. Gerstell, a former general counsel for the National Security Agency, said to The New York Times. There may be "only a 1% chance of that happening, but a 1% chance of something catastrophic is something you need to worry about." This risk "extends not just to future breaches but to past ones: Troves of encrypted data harvested now and in coming years could ... be unlocked," said Zach Montague for the Times.

Even as the risks are documented, investors are working to ensure quantum computers can be used on a widespread scale. Curtis Priem, the co-founder of AI chip manufacturer Nvidia, is "looking to establish New York's Hudson Valley as an epicenter of quantum-computing research in the country," the Journal said. Priem has already donated more than $75 million to develop a quantum computing system at Rensselaer Polytechnic Institute, making it the first college campus in the world with such a device.

Others are looking at the future of the industry through a more financial lens; Illinois legislators will soon be "asked to consider a series of incentives" as part of the state's "intensifying push to become the nation's hub for quantum computing," said Crain's Chicago Business. One of these major proposals is the creation of an "'enterprise zone' that would allow the state to provide quantum companies exemptions from sales, payroll and utility taxes for up to 40 years." If lawmakers in Illinois pass these incentives, there is a high chance that other states could follow.

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Is quantum computing the next technological frontier? - The Week

PALO ALTO, Calif., May 29, 2024--(BUSINESS WIRE)--D-Wave Quantum Inc. (NYSE: QBTS) ("D-Wave" or the "Company"), a leader in quantum computing systems, software, and services and the worlds first commercial supplier of quantum computers, today announced that it has been featured in a Wall Street Journal article on quantum computing, which highlighted its technologys strengths in tackling real-world optimization problems.

The article, titled "Quantum Computing Gets Real: It Could Even Shorten Your Airport Connection," showcases how recent technological advances are enabling businesses and researchers to explore quantum computing for practical use cases. It specifically notes how D-Wave customers have used its annealing quantum computing technology to address optimization problems including grocery store driver delivery scheduling, cross-country promotional tour routing, and cargo-handling at one of the United States busiest ports. The article also highlights recent research from D-Wave, citing it as an example of a computational supremacy claim that, according to a source interviewed for the article, is "actually the strongest" of all the computational supremacy claims so far.

The story comes as D-Wave continues to be a leader in the commercialization of quantum computing. D-Waves Advantage quantum computer, currently the worlds largest quantum computer (5,000+ qubits), and its Leap real-time quantum cloud service are in market today, helping customers accelerate the adoption and deployment of quantum and hybrid-quantum applications. D-Wave has already taken a customers commercial application into production, meaning its systems are used to facilitate its customers daily operations. D-Wave is also the only company commercially offering annealing quantum computing, which is uniquely suited to solve optimization problems, challenges that are pervasive within commercial enterprises.

"This acknowledgment by The Wall Street Journal of quantums growing relevance and importance reflects what were seeing with our customers a steadily increasing appetite and enthusiasm to harness the power of quantum to solve their most computationally complex problems," said Dr. Alan Baratz, CEO of D-Wave. "We believe there is no other company right now in the world delivering the same level of commercial-grade, production-ready quantum technology as D-Wave. Its an incredibly important moment for the industry, and this recognition of D-Waves leadership is gratifying."

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About D-Wave Quantum Inc.

D-Wave is a leader in the development and delivery of quantum computing systems, software, and services, and is the worlds first commercial supplier of quantum computersand the only company building both annealing quantum computers and gate-model quantum computers. Our mission is to unlock the power of quantum computing today to benefit business and society. We do this by delivering customer value with practical quantum applications for problems as diverse as logistics, artificial intelligence, materials sciences, drug discovery, scheduling, cybersecurity, fault detection, and financial modeling. D-Waves technology has been used by some of the worlds most advanced organizations including Mastercard, Deloitte, Davidson Technologies, ArcelorMittal, Siemens Healthineers, Unisys, NEC Corporation, Pattison Food Group Ltd., DENSO, Lockheed Martin, Forschungszentrum Jlich, University of Southern California, and Los Alamos National Laboratory.

Forward-Looking Statements

Certain statements in this press release are forward-looking, as defined in the Private Securities Litigation Reform Act of 1995. These statements involve risks, uncertainties, and other factors that may cause actual results to differ materially from the information expressed or implied by these forward-looking statements and may not be indicative of future results. These forward-looking statements are subject to a number of risks and uncertainties, including, among others, various factors beyond managements control, including the risks set forth under the heading "Risk Factors" discussed under the caption "Item 1A. Risk Factors" in Part I of our most recent Annual Report on Form 10-K or any updates discussed under the caption "Item 1A. Risk Factors" in Part II of our Quarterly Reports on Form 10-Q and in our other filings with the SEC. Undue reliance should not be placed on the forward-looking statements in this press release in making an investment decision, which are based on information available to us on the date hereof. We undertake no duty to update this information unless required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240528062466/en/

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D-Wave Alex Daigle media@dwavesys.com

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D-Wave Quantum Featured in The Wall Street Journal - Yahoo Finance

20-Year Pro Trader Reveals His "MoneyLine"

Ditch your indicators and use the "MoneyLine." A simple line tells you when to buy and sell without the guesswork. Its a line on a chart thats helped Nic Chahine win 83% of his options buys.Here's how he does it.

In a recent address at Georgetown University Law Center, Federal Reserve Chair Jerome Powell encouraged graduates to consider public service as a career path. Powell, who is currently isolating after testing positive for COVID-19, shared personal anecdotes about his career in public service.

What Happened: Powell, an alumnus of Georgetown University Law Center, delivered a commencement address on Sunday, urging graduates to think beyond their personal success and consider giving back to society. He emphasized that his legal education had opened up numerous opportunities, including a career in government.

"Each of you has the capability to achieve success in any field you choose; it is important that you also consider how to give back and use your gifts to make a difference," he said, encouraging the graduates to "think beyond yourselves."

Despite leaving the legal profession a few years after obtaining his degree, Powell stressed the importance of considering a career in public service. He shared his personal experience of expressing his interest in government service to his then-boss, Nicholas Brady, at investment bank Dillon Read & Co. This initiative eventually led to a significant shift in his career trajectory.

See Also: JPMorgans Jamie Dimon Warns Of A Lot Of Inflationary Forces Ahead, Predicts Higher Interest Rates

"The point is this: if I had not forced myself to get up from my desk, taken the stairs up to the 15th floor, and presented myself to his office that day, the rest of my life would have been very different, and I would not be standing here today," Powell said.

"Mustering that little bit of initiative changed my life," he said. "A little initiative can make all the difference in anyone's career."

Why It Matters: Powells address comes at a time when the financial sector is undergoing significant changes. The Federal Reserve, under Powells leadership, is reportedly considering a significant reduction in proposed capital norms for big banks. This shift could have a far-reaching impact on the industry.

With the 2024 U.S. presidential election approaching, Powells emphasis on the value of public service also resonates with the ongoing scrutiny of his leadership and the Feds independence from political pressures.

Despite these challenges, Powells leadership and the Federal Reserves policies continue to shape the financial landscape. The recent introduction of the End The Fed bill by Rep. Thomas Massie (R-Ky.), a close ally of Marjorie Taylor Greene, is a clear indication of the ongoing debates surrounding the Federal Reserves role and policies.

Read Next: Will Falling Gas Prices Boost Bidens Popularity? Nobel Laureate Paul Krugman Has This To Say

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Federal regulators on Thursday approved an investment product tied to the cryptocurrency Ether, the most valuable digital asset after Bitcoin, in a major boost for the crypto industry.

The Securities and Exchange Commission said a group of exchanges could begin listing investment products known as exchange-traded funds, or E.T.F.s, linked to the price of Ether. The products would offer an easier and simpler way for people to invest in crypto, potentially boosting prices and promoting wider adoption of digital currencies.

In January, the S.E.C. approved similar products that track the price of Bitcoin, leading to a flurry of new investment that helped propel Bitcoins price to a record high.

The impact of the Ether approval could take longer to hit the market. Before the exchanges can start offering Ether E.T.F.s, the S.E.C. must also approve a separate set of applications from companies that want to issue them, including from major financial firms like BlackRock and Franklin Templeton. That process could take weeks or months, according to financial experts.

An S.E.C. spokeswoman said the agency had no comment beyond a formal order approving the products.

The news prompted celebration in the crypto industry. A representative for 21Shares, one of the companies seeking to offer the Ether investment product, called it an exciting moment for the industry at large.

But industry critics called the approval a dangerous development that would encourage wider investment in a volatile market.

The S.E.C. failed to live up to its mission to protect investors and the markets, Benjamin Schiffrin of Better Markets, a nonprofit that fights for stricter financial regulations, said in a statement.

Offered by mainstream financial services firms, E.T.F.s are essentially baskets of assets rather than buying the assets directly, customers buy shares in these baskets. The products are easy to trade, from brokerage accounts with companies like Vanguard or Charles Schwab, and are popular with wealth advisers and other financial mangers.

In the crypto world, E.T.F.s offer another key advantage: simplicity. Rather than navigating the complexities of an online crypto wallet, a customer could go online and buy shares in a Bitcoin or Ether E.T.F. alongside stocks traded on Wall Street.

For years, crypto advocates have seen these products as a promising way to encourage wider use of digital currencies. Before the Bitcoin E.T.F.s were approved, crypto companies battled the S.E.C. in the courts, securing a legal victory in August that forced the agency to allow the products.

The Bitcoin E.T.F.s have proved to be enormously popular, attracting billions of dollars in investment.

The price of Ether has rebounded over the last few months, after a crypto downturn that started in 2022. Ether currently trades at about $3,800 per coin, more than 20 percent off its high of just under $4,900.

Thats a small fraction of the price of Bitcoin, which trades at about $68,000 per coin.

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Ether Cryptocurrency ETFs Are Approved by the SEC - The New York Times

Fat cat Moses, 9, is getting his weight under control with a regular regime of hydrotherapy.

Sweet fancy Moses!

A privileged layabout of a cat who weighs as much as a French bulldog has been prescribed a thoroughly unusual exercise routine one that seems to be working, his caregivers say.

Moses, 9, a chonk of burning love at more than double the healthy size for his age, is learning how to swim, something cats are not known to enjoy.

His owner is taking the unusual step after countless failed diets and efforts to get the family-size feline to go outside and move around.

The pudgy puss has now been signed up for hydrotherapy at a veterinarian clinic near his home in Wellesbourne, England.

Things are going swimmingly, according to veterinary hydrotherapist Olivia Stokes, who is treating the fluffy boy.

When he first came to us, Moses was nearly 22 pounds, she said.

His owner said he had been on diets and been encouraged to exercise before but had still not able to lose weight. So, we decided to try a different approach with hydrotherapy. Its a very unusual approach in caring for cats, Stokes explained.

I have been in the industry for five years and a qualified hydrotherapist for almost two years and I have never experienced hydro with a cat before, so Moses was a first for me, she confessed.

That is because cats dont usually like water and, sure enough, on his first taster session Moses was not impressed at all. He needed a lot of encouragement as he resisted the treatment, she said.

At the start, I tried gradually increasing the water level for him, like we would for a dog, but this wasnt well tolerated. I also tried all sorts of cat treats but he wasnt interested in them for long either. So, then I ran the treadmill dry with no water to just get him used to walking, Stokes recalled.

I then added water and found lowering him into the treadmill worked best. Fast forward down the line and Moses now sits in the tank as I increase the water level, then knows exactly what to do, she said.

Once he has been walking for 13 minutes, I then lift him up, raise the water level further, and swim him for a couple of minutes to give him a full body workout.

Moses has become an old pro now, hes not only losing the pounds, hes toning up and getting into good shape, which has him moving around a lot more at home.

Stokes said that hes lost nearly four percent of his body weight in about six weeks, which she considers about the right speed.

The important thing is that his body shape is clearly changing as he loses the fat and builds back muscle. I am very proud of Moses progression; hes even walking with the incline on the treadmill now, she said.

Moses has always been a big cat but had gained a lot of weight over the last three years, said his owner, Jenna Joshi, a clinical nursing manager at the vets clinic.

Id been keeping him on a strict diet but this didnt help at all. He just was not interested in going outside, exercising or playing with toys. I asked my colleagues whether we could try hydrotherapy to help with his mobility and, hopefully, help him lose some weight, she said.

I could see a difference almost straightaway. It was difficult at first but now he doesnt complain and knows exactly what he needs to do when he goes for his sessions.

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The advent of Bitcoin in 2009 by an individual or group under the pseudonym Satoshi Nakamoto revolutionized financial transactions with its decentralized, peer-to-peer technology.

This groundbreaking innovation has since permeated various sectors, including online gambling. Bitcoin casinos represent a significant shift from traditional online casinos by leveraging blockchain technology to offer unique security, privacy, and flexibility advantages.

This article delves into the essential aspects of Bitcoin casinos, providing a foundational understanding for beginners and highlighting their unique benefits.

Bitcoin casinos operate primarily on blockchain technology, which ensures a transparent and immutable record of transactions. This fundamental difference differentiates them from conventional online casinos, which rely on centralized servers. At the heart of Bitcoin casinos is using cryptocurrencies for deposits, withdrawals, and gameplay, with Bitcoin being the most popular choice.

Bitcoin casinos offer several distinct advantages over their traditional counterparts, contributing to their growing popularity among online gamblers.

For those new to Bitcoin casinos, starting can seem daunting. However, the process is straightforward once you understand the basics.

Bitcoin casinos boast many games, similar to what you would find in traditional online casinos. These range from classic table games like blackjack and roulette to a vast selection of slots and live dealer games. The use of provably fair technology is a notable feature in Bitcoin casinos, allowing players to verify the fairness of each game outcome.

Bitcoin casinos represent a significant evolution in the online gambling industry, offering advantages catering to the modern players security, privacy, and efficiency needs.

From their inception following Satoshi Nakamotos blockchain innovation to their diverse and engaging gaming experiences, Bitcoin casinos have established themselves as a formidable presence in the online gambling world.

As this industry continues to grow and evolve, it presents an exciting frontier for players seeking a more secure, private, and innovative online gambling experience. Whether you are new to online gambling or looking to explore the benefits of Bitcoin casinos, the journey from Satoshi to slots is one filled with potential and excitement.

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From Satoshi to Slots: A Beginner's Guide to Bitcoin Casinos and Their Advantages - Eye On Annapolis

Kay and Jim Schlembach could be considered Americas poster children for downsizing. After a career at ExxonMobil in Houston, Jim retired at age 62, and the couple bought a 3,200-square-foot contemporary on a wooded lot in Clifton Park, N.Y., near Albany.

It was a big house to entertain their kids and grandkids. But the Schlembachs had a strict 10-year timeline. Now at ages 62 and 72, respectively, Kay and Jim have decided to downsize to their 850-square-foot condo in Richmond, Va.

We made the decision that we were not going to be a burden to our children and that we would take care of our aging process and living arrangements, says Kay. These are hard conversations to have. America doesnt deal with death very well, and aging is difficult.

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The Schlembachs put their home on the market in March. The open house brought more than 200 visitors, and within three days, they had received 10 offers all for well above the asking price of $600,000. Eight days later, they were under contract for more than $700,000.

The Schlembachs may be among the most proactive downsizers in America, but theyre not alone. According to the National Association of Realtors, baby boomers are on the move. They are the largest group of both home sellers and buyers in the country.

Finding a smaller dwelling that checks all the boxes geographically, financially, emotionally, and physically is a smart thing to do. But first, you have to sell.

Heres some of what you need to know:

Homeowners can get a basic understanding of what their home is worth by tooling around on Zillow, Realtor.com, and other online sites that have estimator tools. But its also wise to consult with at least two or three local real estate agents.

And dont go with your cousins friend who just got her real estate license. The Schlembachs had a checklist and insisted on a seasoned and responsive broker, with extensive knowledge of our local market conditions, solid comps, optimal listing timing, pricing based on data-driven dollars per square foot, days on market, and technological aspects such as photography, staging and Internet exposure.

About 10% of homeowners in 2021 sold their homes without a real estate broker. That saved these sellers about 5% or 6%, which is the rate of commission most real estate agents charge.

But selling your own home can be a lot of work and stress and might not generate the best price. The best agents have expertise in local housing market trends and can generally generate higher prices because of their market knowledge. Plus, theres a lot of paperwork between the legal contract and contingencies of sale, like inspections, compensation for defects and disputes that can arise en route to closing. Some states require one or both parties to have an attorney.

(Image credit: Getty Images)

Savvy sellers should have a frank discussion with any agent they interview. Real estate commissions have always been negotiable, but sellers rarely had much opportunity to haggle.

Thats changing rapidly. In October the realtors association and several brokerages were hit with a $1.8 billion judgment in a class-action antitrust suit that said commissions were artificially high. Then, in March, the association reached a nationwide, $418 million settlement of claims that the industry conspired to keep commissions high.

The settlement, which is pending approval, promises to change the way real estate commissions are paid. Realtors agreed, for example, to stop requiring sellers to pay buyers agents commissions. The changes are expected to go into effect in July. As many as 50 million recent home sellers may receive compensation after the settlement is approved.

Demand for properties is high. Mortgage rates are down from their October 2023 peak. But low inventory and higher prices are putting baby boomers on a collision course with their desire to make a move to something smaller, cheaper or easier to manage.

In February, Federal Reserve Chairman Jerome Powell said he believes the U.S. housing market is undersupplied and will remain so for years. That should concern downsizers who are hoping to trade what they have for something better, only to find market conditions discouraging.

My advice would be for people looking to downsize is to really do their research on the impact this decision would have. With the current situation of the real estate market, the downsized property may be significantly more expensive in not only price, but also in taxes, HOA fees, interest rate, etc, says Andrew Petersen, an agent in Pompano Beach, Fla.

Stop asking your kids if they want Aunt Emmas old China. (They dont.) Specialists can help manage all aspects of decluttering and downsizing, starting with the National Association of Senior & Specialty Move Managers.

Barbara Feldman, a relocation specialist in Manhasset, N.Y., has been helping clients since 2007. Shes seen it all and her advice after helping folks downsize or right size is simple: Downsize now!

We buy too much and keep too much, says Feldman. My advice is that if I have something and I can replace it in 20 minutes for less than $20, let it go.

(Image credit: Madison Holmlund, designed by Brittany Chinaglia)

Sellers need to maximize all the assets of their homes and minimize any feature that will cause buyers to balk. In a time when most sellers have amassed equity in their homes, spending a little to wow buyers is a smart investment in your quest to successfully downsize.

Staging helps the purchaser visually see the potential of the home and leads to an emotional buy, says Manhattan interior designer Ronnie Rosenberg. It also usually brings in a higher price and a quicker sale.

"Downsizing has a much better chance of being a success when its a choice, says Feldman. A majority of her clients are between the ages of 70 and 80 and by this point, she says, the need to move is more of a mandate than a conscious decision.

Its daunting for so many people, emotionally and physically. she says. Theyre experiencing a loss of independence and they express that. They say I used to be able to do this but now I cant.

Homeowners sitting on a lot of equity may feel like theyve hit the lottery. But records and invoices for all the repairs and upgrades tell a different story about what your home cost.

For tax purposes, a home improvement is any expense that materially adds to the value of your home, significantly prolongs its useful life or adapts it to new uses. Documenting these items can reduce your capital gains exposure and, for buyers, demonstrate the investment youve made in the home, helping to justify the list price.

(Image credit: Getty Images)

If youve lived in your house for 20 or 30 years, you may be in for a shock when you sell it. A tax shock, that is, as you may be facing capital gain tax on any profit over $500,000 (for married couples). The cost of selling can be significant, says fee-only financial adviser David Wattenbarger in Chattanooga, Tenn.

On the other hand, selling may not be the best alternative from a tax perspective. A highly appreciated property left to an heir may qualify for a step up in basis at the death of the owner, which could avoid the realization of a capital gain, says Wattenbarger.

Downsizing usually coincides with a move to a new neighborhood or 55-plus development with greater amenities, especially in warmer states with cheaper taxes. Think Florida. But the residents of the Sunshine State are seeing skyrocketing insurance and association fees along with higher home prices.

Warm weather and no income tax come with a hefty price tag. I find most people are surprised not only at how expensive property is in South Florida, but also the cost of property taxes and insurance, says Petersen, the agent in Pompano Beach. They can be significant enough to offset those other benefits.

Note: This item first appeared in Kiplingers Retirement Report, our popular monthly periodical that covers key concerns of affluent older Americans who are retired or preparing for retirement.Subscribe for retirement advicethats right on the money.

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10 Things You Should Know About Selling Your Home to Downsize in Retirement - Kiplinger's Personal Finance

Embark on the Future: Binance App Surges with 6.3M Downloads in 2024s Dawn, Redefining Crypto Accessibility. Dive into the World of Web3 with Binances Intuitive Interface and Join Over 183M Users in the Financial Revolution. Trust, Security, and Limitless Possibilities Await.

Embark on the Future: Binance App Surges with 6.3M Downloads in 2024s Dawn, Redefining Crypto Accessibility. Dive into the World of Web3 with Binances Intuitive Interface and Join Over 183M Users in the Financial Revolution. Trust, Security, and Limitless Possibilities Await.

Detailed Insights

Binance, a figure in the crypto and fintech realms, has marked a significant achievement by garnering over 6.3 million downloads of its mobile application within the initial quarter of 2024. This milestone not only underscores Binances supremacy among other major crypto platforms but also reflects a burgeoning interest in cryptocurrency applications on a global scale. The notable surge in downloads owes its success to two key factors: the exceptional user experience offered by the Binance app and the widespread trust in the Binance brand, which boasts a vast community exceeding 183 million users worldwide. Binances all-encompassing app provides an array of Web3 services, such as spot and P2P trading, seamless payments, a diverse marketplace, Earn products, and more, positioning it as a frontrunner in driving global Web3 adoption.

As the crypto industry progresses into the second quarter of 2024, it continues to exhibit strong momentum with key indicators signaling robust adoption and consistent use. Among these indicators, Binances remarkable growth in user inflows, which has propelled the value of user funds on the platform to exceed the $100 billion threshold, stands out as a testament to the platforms security, transparency, and reliability.

In a rapidly expanding digital asset landscape, users are presented with a myriad array of service providers. However, Binances unparalleled growth in app downloads in 2024 highlights its unmatched position in the fintech and cryptocurrency sectors. What underlies this trend, and what implications does it hold for Binance and the broader state of the cryptocurrency industry in 2024?

Binances Unrivaled Position

Recent data unveiled by Sensor Tower has put into perspective the massive appeal of the Binance app. Throughout the first three months of 2024, the app has been embraced by iOS and Android users around the globe, amassing more than 6.3 million downloads. This figure not only eclipses that of the nearest competitor by over 21% but also significantly distances Binance from other major crypto service providers, cementing its status as the industry leader.

The resurgence in the crypto markets, fueled by regulatory milestones such as the approval of spot Bitcoin exchange-traded funds (ETFs) in the United States and the anticipation surrounding the Bitcoin halving, has played a pivotal role in the Binance apps success. Its comprehensive features, ease of navigation, and the widespread trust in the Binance brand are primary drivers of its standout performance.

Building Trust and Simplifying Crypto

At the heart of Binances strategy is a user-focused ethos that aims to demystify the crypto space for everyone, regardless of their prior knowledge or experience with cryptocurrencies and financial markets. The Binance app is crafted to provide a seamless entry into the world of Web3, offering a wide array of functionalities including spot and P2P trading, payments, access to a vibrant marketplace, Earn products, Binance Squares social feeds, and a dedicated Web3 wallet.

More than just a technological marvel, the Binance app is your passport to the worlds leading blockchain ecosystem, cherished by over 183 million individuals across the globe. It boasts unmatched liquidity, facilitating trades across approximately 1,800 trading pairs and over 400 digital assets.

Daily, tens of thousands of individuals choose to download the Binance app, seeking to immerse themselves in the digital asset universe. What they receive in return transcends a mere platform for engaging with Web3it represents an invitation to join the largest community of financial freedom advocates, founded upon the tenets of security, responsible growth, and unwavering trust.

Reflecting on these impressive statistics and adoption trends, the dominance of the Binance app in early 2024 lays down a solid groundwork for the expansion of a vibrant, empowered community. This trajectory is not only promising for Binance but is also indicative of the broader shift towards embracing the first billion Web3 users.

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Binance App's Exceptional Surge: Achieving Over 6.3 Million Downloads in the Early Stages of 2024 and Setting a ... - FinanceFeeds