Esteban Ma
574 Articles
Esteban Ma, CFA Level 2 CANDIDATE, is a financial editor at TradingKey, mainly focusing on covering equities, cryptocurrencies and commodities. With two years of experience in crypto at Gate.io Research and three years in comprehensive finance, he specializes in cryptocurrency industry analysis and macroeconomic analysis.
He passed the Certificate of Security Qualification(CSQ) and Certificate of Futures Qualification(CFQ).
Written by Esteban Ma
Reviewed by Esteban Ma
Is a Meme Coin Bubble Bursting? ETH Drops 3%, XRP Plunges 10%, Ethereum-Reserve Stocks Tumble
TradingKey - Following a surge in altcoin prices fueled by the passage of U.S. stablecoin legislation, the rally appears to be cooling — with growing concerns over a potential bubble. On Wednesday, July 23, Ethereum (ETH) fell 3%, Ripple (XRP) plunged nearly 10%, and Ethereum-reserve-linked stocks
Wed, Jul 23
Firing Powell Won’t Fix the Debt — And Further Rate Cuts Could Backfire, Deutsche Bank Warns
TradingKey - On President Donald Trump’s argument that firing Fed Chair Jerome Powell would lower interest rates and reduce the U.S. government’s soaring debt costs, Deutsche Bank has issued a clear warning: forced rate cuts would have little meaningful impact on debt burdens, and could even
Wed, Jul 23
Tesla Set to Report Q2 Earnings — Sell the Reality or Buy the Future Narrative?
TradingKey - Tesla (TSLA) will release its Q2 2025 earnings after the market close on Wednesday, July 23, becoming the first of the Magnificent Seven tech giants to report this season. With weak fundamentals on one side and Elon Musk’s bold vision on AI, Full Self-Driving (FSD), and robotics on the
Wed, Jul 23
After U.S.-Japan, U.S.-EU Nears 15% Tariff Deal — Euro and European Stocks Rally, But Risks Remain
TradingKey - Following the U.S.-Japan agreement on a 15% tariff rate, the United States and European Union are now reportedly close to reaching a similar trade deal — reinforcing market expectations that the Japan accord served as a template for broader negotiations.
Wed, Jul 23
Riding the U.S. IPO Wave, Figma Brings Back the “Auction-Like IPO” to Wall Street — What’s Behind the Confidence?
TradingKey - As Figma, the cloud-based design software company, moves forward with its IPO process, the SaaS firm — widely seen as a potential catalyst to revive a long-dormant software IPO market — is taking a dual approach: Adopting an auction-style IPO pricing mechanism to capitalize on the
Wed, Jul 23
Is Musk’s Political Risk Now Priced In? SpaceX Discloses It for the First Time in Investor Documents
TradingKey - In a move highlighting growing scrutiny over Elon Musk’s political activities, SpaceX has, for the first time, included a formal risk disclosure related to Musk’s potential return to government roles — according to a Bloomberg exclusive report.
Tue, Jul 22
UBS Report: Weak Summer iPhone Demand — iPhone 17 May Not Prevent EPS Trend Lower in 2026
TradingKey - Ahead of Apple’s 3Q25 earnings release next Thursday, UBS has issued a warning: June iPhone demand collapsed, iPhone 17 order expectations are weak, and Apple’s earnings per share (EPS) could trend lower in fiscal 2026.
Tue, Jul 22
Trump’s “Third Tactic” to Pressure Powell on Rate Cuts? Trump Is Considering Removing Capital Gains Tax on Home Sales
TradingKey - On Tuesday, July 22, President Donald Trump said at the White House that his administration is considering eliminating the capital gains tax on home sales to boost the struggling U.S. housing market. Trump’s comments may be a strategic move — not to reform tax policy, but to amplify
Tue, Jul 22
Weak Dollar, Strong Earnings: FX Tailwinds Fuel Q2 Results — Coca-Cola Among Winners
TradingKey - As more U.S. companies release their Q2 2025 earnings, a clear trend is emerging: the weaker U.S. dollar is helping to offset the negative impact of Trump’s tariffs on multinational corporations — creating a favorable chain reaction of currency tailwinds, stronger earnings, and rising
Tue, Jul 22
Circle Shares Plunge 9% — Wall Street’s Bear Camp Grows, Four Key Risks Come Into Focus
TradingKey - Amid concerns over its business model sustainability, rising competition from traditional financial institutions, and elevated valuations, Circle (CRCL) — the issuer of the USDC stablecoin — is facing growing scrutiny from Wall Street. Compass Point has now joined the bear camp
Tue, Jul 22
Semiconductor Stocks Drop Nearly 3% Ahead of Magnificent 7 Earnings — Is the U.S. Market Rally Overextended?
TradingKey - After a rapid rebound that pushed major indices to new highs, investors are now refocusing on risks — including upcoming tech earnings, trade tensions, and AI spending sustainability. On Tuesday morning, July 22, the Philadelphia Semiconductor Index (SOX) fell nearly 3%, with NVIDIA and
Tue, Jul 22
Figma's IPO Has a Paper Valuation of $16.5 Billion, but Analysts Are Pricing in a Premium
TradingKey - On Monday, July 21, cloud-based design platform Figma announced it plans to sell approximately 37 million shares at $25–$28 per share, raising around $1 billion and potentially valuing the company at $16.5 billion.
Mon, Jul 21
Fintech Milestone: Block (XYZ) Added to S&P 500, JPMorgan Sees Valuation Upside
TradingKey - On Monday, July 21, Block (XYZ) — the fintech company formerly known as Square — surged 7.22%, closing at $78.08, after being confirmed for inclusion in the S&P 500 Index. The stock rose as much as 9% intraday, reflecting strong investor enthusiasm over its upcoming index debut.
Mon, Jul 21
Wells Fargo: S&P 500’s Leaders Are More Growthy and More Techy Than in 2000
TradingKey - As the S&P 500 continues to hit new all-time highs despite macroeconomic headwinds, many strategists have raised concerns about valuation risks, drawing comparisons to the 2000 dot-com bubble. However, Wells Fargo argues that today’s market is fundamentally different — and that the S&P
Mon, Jul 21
Tesla Q2 Earnings Preview: A Pivotal Moment for Musk, EVs, and AI — Risk or Opportunity?
TradingKey - Tesla (TSLA), the world’s leading electric vehicle maker, will release its Q2 2025 earnings after U.S. markets close on Wednesday, July 23. With headwinds from Elon Musk’s political activities, sluggish EV deliveries, and the Trump administration’s rollback of EV incentives, investors
Mon, Jul 21
The “Ethereum Moment” Is Coming — GENIUS Act Sparks Record ETH ETP Inflows and Corporate ETH Accumulation
TradingKey - With the successful passage of Trump’s three landmark crypto bills — the GENIUS Act, CLARITY Act, and Anti-CBDC Act — investor sentiment has shifted in favor of Ethereum (ETH) over Bitcoin (BTC), with some analysts declaring that the “Ethereum moment” has arrived.
Mon, Jul 21
Crypto Stocks Rally Again — Trump Media (DJT) Holds Two-Thirds of Its Assets in Bitcoin
TradingKey - On Monday, July 21, U.S. tech stocks pushed the Nasdaq Composite above 21,000 for the first time, hitting a new all-time high. Crypto-linked equities outperformed the Magnificent Seven tech giants, with Trump Media & Technology Group (DJT) rising 6%, and Strategy (MSTR) — which holds
Mon, Jul 21
Cryptocurrency Revaluation? Total Market Cap Hits $4 Trillion Milestone — Traders Eye $140K Bitcoin, $4K Ethereum
TradingKey - On Thursday, July 17, major cryptocurrencies surged as the U.S. House of Representatives overwhelmingly passed three key crypto bills — setting the stage for a potential regulatory overhaul and a new wave of institutional adoption.
Fri, Jul 18
How Sam Altman Becomes Trump’s New AI Bro — Replacing Elon Musk in the AI Power Play
TradingKey - Following Crypto Week, the AI Week is set to take center stage. All eyes and ears are now on President Donald Trump’s upcoming AI strategy announcement and Sam Altman’s keynote speech before the Federal Reserve’s July FOMC meeting. Market observers now believe that Altman has replaced
Fri, Jul 18
Before the July FOMC: Fed Officials Remain Divided — Is Tariff-Driven Inflation or Labor Market Weakness the Bigger Threat?
TradingKey - While the Federal Reserve is widely expected to hold rates steady at its July 30 meeting, internal disagreements among policymakers over the tariff impact on inflation and the deteriorating labor market remain unresolved. As the meeting approaches, hawks and doves are still locked in
Fri, Jul 18
