SYDNEY/LONDON—Share markets continued last week’s rally in more modest fashion on Monday after a top U.S. central banker warned investors against getting carried away over one inflation number, while Chinese stocks gained on aid for the country’s property sector. A modest miss on U.S. inflation was enough to see two-year Treasury yields dive 33 basis…
Shares Sobered by Fed Warning, China Acts on Property
November 14, 2022
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Crypto Platform FTX Goes Bankrupt, Boss Resigns
FTX Group, a collection of some 130 companies behind the cryptocurrency platform FTX, has filed for bankruptcy, and its boss, Sam Bankman-Fried, has quit. The group has initiated voluntary bankruptcy proceedings under Chapter 11 in the District of Delaware, according to a press release on Nov. 11. Bankman-Fried, who has been replaced in his role as CEO…
Dollar Climbs Ahead of Inflation Data; Cryptos Crumble
SINGAPORE—The dollar inched higher ahead of U.S. inflation data due later on Thursday, while cryptocurrencies remained under pressure after crypto exchange Binance scrapped plans to rescue its ailing rival FTX. The greenback surged on Wednesday against its peers but later pared some of those gains, with investors also digesting the U.S. midterm election results. The…
World Stocks Stall as US Midterms Too Close to Call
November 9, 2022
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LONDON—World stocks stalled below recent seven-week highs on Wednesday, while the dollar rose as investors awaited the results of the closely watched U.S. midterm election. Bitcoin, the biggest cryptocurrency by market value, fell as much as 5 percent, a day after sliding 11 percent. European stock markets and U.S. futures were lower, Meta Platforms Inc….
Dollar Stems Losses as Investors Eye US Midterms
SINGAPORE/LONDON—The dollar steadied on Tuesday as traders looked ahead to U.S. midterm elections, and as excitement dimmed around China relaxing coronavirus restrictions, which had been boosting investor sentiment and weighing on the safe haven U.S. currency. A conclusive result to the midterms could take days, but forecasts are for a Republican victory, at least in…
Feds Announce Seizure of $3.36 Billion in Stolen Bitcoin
The United States Department of Justice has announced the seizure of over $1 billion in stolen bitcoin. The DOJ announced on Nov. 7, that it had earlier seized the stolen bitcoin on Nov. 9 2021, after an unannounced IRS raid on the Gainesville, Ga. home of James Zhong, a 32-year-old investor. Federal authorities took 50,676…
Bitcoin, Ethereum ETFs Delisted in Australia as Crypto Winter Continues
November 2, 2022
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Cosmos Asset Management is looking to delist two of its cryptocurrency exchange-traded funds (ETFs) from the Cboe stock exchange in Australia owing to the downturn in digital assets that started at the end of last year. Cosmos, based in Sydney, intends to delist its Purpose Bitcoin Access ETF (CBTC) and Purpose Ethereum Access ETF (CPET),…
Cryptocurrency Pioneer Wrote CIA Would ‘Frame’ Him a Day Before He Died in Puerto Rico
November 2, 2022
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The co-founder of the cryptocurrency lending platform MakerDAO and the decentralized stablecoin Dai, Nikolai Mushegian, has been found dead in Puerto Rico at the age of 29, sparking speculation on Twitter regarding the circumstances surrounding his death. Mushegian’s death was confirmed by local news outlet El Nuevo Dia on Friday. The publication, citing police, reported that he had…
‘Wild West’ of Crypto Readies for Tax Laws
The “wild west” of cryptocurrency is starting to gain the acceptance and understanding of lawmakers. Robert Francis, managing director at trading platform eToro Australia, said the explicit acknowledgement of crypto in the Australian federal budget was a first, with new tax laws to be introduced to parliament. He said the budget had provided investors and…
Central Bank Digital Currencies Would Let Governments Control What People Spend Money On: IMF Official
The International Monetary Fund (IMF) has said that central bank digital currencies (CBDCs) could potentially allow a government to control what people spend their hard-earned cash on. Speaking at the IMF-World Bank annual meeting on Oct. 15, Deputy Managing Director Bo Li said that a CBDC could improve “financial inclusion” through programmability. “A CBDC can…
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