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☆ ETFs have brought big price swings back to bitcoin but could still help dampen volatility in the long term
▼ + stars: | 2024-03-11 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +4 min

A big selling point of bitcoin exchange-traded funds was their potential to reduce bitcoin's notorious volatility over time. He pointed to funding rates for bitcoin futures contracts, which have soared recently to levels not seen since early 2021. Additionally, open interest, or the number of open positions for a bitcoin futures contract, is at all-time highs. "Realized crypto [volatility] will likely ease as funding rates normalize," Glass said. "Those recurring inflows could dampen volatility of large moves from momentum strategies which basically chase price up and down and amplify swings."

Persons: Bitcoin, —, David Glass, Glass, bitcoin, David Wells, Wells, Michael Bloom Organizations: Citi, Investors

☆ Cryptocurrencies recover after bitcoin retreats from new record
▼ + stars: | 2024-03-06 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

On Tuesday bitcoin reached a new intraday record , for the first time since November 2021, of $69,210. It had been pushing higher for weeks – it's up 55% over the past month – and tumbled shortly after notching the new high. Bitcoin was last higher by 6% at $66,315.19, according to Coin Metrics, while ether rocketed more than 11% to $3,785.76, its highest level since January 2022. Cryptocurrencies bounced on Wednesday, recovering much of the losses from the previous day's sell-off, which came soon after bitcoin hit an all-time high. When traders use leverage to short bitcoin and the cryptocurrency's price rises, they buy bitcoin back from the market to close their positions, which pushes the price up and causes more positions to be liquidated.

Persons: bitcoin, –, Bitcoin, Cryptocurrencies, David Wells, Binance, Shiba, Microstrategy Organizations: Metrics, Solana, Marathon Digital, CNBC PRO

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailUK financial regulators propose sweeping stablecoin rules: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Raj Dhamodharan of Mastercard, Stuti Pandey of Kraken Ventures and David Wells of Enclave Markets discuss the state of stablecoins and institutional crypto adoption.

Persons: explainers, Raj Dhamodharan, Stuti Pandey, David Wells Organizations: CNBC Crypto, CNBC, Mastercard, Kraken Ventures, Enclave Markets Locations: stablecoins

HOUSTON (AP) — Max Scherzer is set to pitch another Game 7 in Houston with visiting teams undefeated in the series. Texas also won Games 1 and 2 in Houston. Cristian Javier, the Game 3 winner when the defending World Series champion Astros won 8-5, will pitch again for Houston. The 26-year-old right-hander is 6-1 with a 2.08 ERA in 16 postseason games, winning all four of his starts. You look at matchups and things like that, but they’re all ready to go.”Scherzer will be making his 24th postseason start for five different teams.

Persons: — Max Scherzer, Max, Scherzer, Cy Young, ”, Nathan Eovaldi, “ He’s, Cristian Javier, ” Javier, It’s, Nate, Bruce Bochy, “, David Wells, ___ Organizations: HOUSTON, Texas Rangers, Washington, Nationals, Astros, The Rangers, Houston, Rangers, New York Mets, ” Rangers, Detroit, Los Angeles Dodgers, Yankees Locations: Houston, Texas, Arlington, Detroit , Washington, Cincinnati, Baltimore, Boston, San Diego

ARLINGTON, Texas (AP) — Max Scherzer was roughed up again by the Houston Astros, this time in Game 3 of the AL Championship Series. Scherzer gave up three runs in the second on a wild pitch and Martín Maldonado’s two-run single, then allowed Jose Altuve's leadoff homer in the third. That’s the good news.”Political Cartoons View All 1211 ImagesScherzer was dealing with forearm tightness six weeks ago when he allowed seven runs — all on three homers — over three innings in the Astros’ 12-3 win. Scherzer has had second consecutive rough postseason start, allowing five runs and five hits with a walk, a hit batter and four strikeouts. Scherzer was acquired by Texas from a Mets in a deadline deal this summer.

Persons: — Max Scherzer, Cy Young, Scherzer, Jose Altuve's, Houston, Mauricio Dubón's, Jeremy Peña, Maldonado, Bruce Bochy, “, he’s, David Wells, ___ Organizations: Houston Astros, Astros, Texas Rangers, New York Mets, Mets, Detroit, Los Angeles Dodgers, Yankees Locations: ARLINGTON , Texas, Toronto, San Diego, Texas, Detroit , Washington, Cincinnati, Baltimore, Boston

ARLINGTON, Texas (AP) — Jose Altuve homered, Cristian Javier worked into the sixth inning of another solid postseason start and the Houston Astros beat the Texas Rangers 8-5 on Wednesday night, closing to 2-1 in the AL Championship Series. Javier set a franchise record for the defending champion Astros by extending his postseason scoreless streak to 20 1/3 innings. He threw 5 1/3 scoreless innings six days later, on Sept. 12 at Toronto, before going on the injured list because of the shoulder strain. LOT OF ZEROESJavier's 20 1/3 innings passed Joe Niekro's 18 innings for the longest scoreless streak in Astros history, for starters or relievers. It is the second-longest MLB scoreless streak for a starter in his first postseason starts, behind Christy Mathewson's 28 innings from 1905-11.

Persons: — Jose Altuve, Cristian Javier, Cy Young, Max Scherzer, Javier, Josh Jung, El, ” Javier, Ryan Pressly, Martín Maldonado, Yordan Alvarez, Jung, Alvarez, Kyle Tucker, Mauricio Dubón, Scherzer, Jonah Heim's mitt, Maldonado, José Abreu, Bruce Bochy, Evan Carter's, Hector Neris, Michael Brantley, Leody Taveras, Joe Niekro's, Christy Mathewson's, David Wells, ___ Organizations: Houston Astros, Texas Rangers, Texas, Astros, Rangers, instate AL West, Minnesota, AL, Life, The Rangers, Mets, NL, Star, MLB, Detroit, Los Angeles Dodgers, New York Mets, Yankees Locations: ARLINGTON , Texas, Tampa Bay, Baltimore, Philadelphia, Arizona, Houston, New York, San Diego, Toronto, Detroit , Washington, Cincinnati, Boston

☆ Ether heads for a losing week as ETF launch fails to ease regulatory overhang on crypto market
▼ + stars: | 2023-10-06 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +4 min

Meanwhile, ether is heading for a losing week even after ether futures ETFs began trading, which was expected to be a positive catalyst for the cryptocurrency and digital assets broadly. That represents about 0.2% of the trading volume of bitcoin futures ETFs on their first day of trading, he added. Bitcoin and ether, the "blue chip" coins in the crypto market, are widely seen as high-risk and notoriously volatile assets that sometimes move in tandem with the broader market. Many crypto investors take a longer view on them, however, and may still see them as safe havens. While one group may be concerned that their prices have been stuck this year, the other sees them as resilient in the face of U.S. regulatory uncertainty and rising rates.

Persons: Crypto, Conor Ryder, …, there's, Ryder, David Wells Organizations: Dow Jones, Ethena Labs, ETH, Enclave Markets

☆ The stablecoin market has shrunk this year while bitcoin has rallied — What investors should know
▼ + stars: | 2023-08-04 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +4 min

Bitcoin is up more than 75% this year, but the market capitalization for stablecoins has dwindled during the same period. "This is unusual as often the market capitalization of stablecoin increases during rallies and decreases during downturns, matching the trend of the overall crypto market," JPMorgan analyst Steven Alexopoulos said in a note Thursday. "An explanation for the decline of the stablecoin market may be due to investors preferring the higher returns of bitcoin and Ethereum or even traditional assets (benefiting from a rise in interest rates)." In July, it hit an all-time high of $83.8 billion and now accounts for 68.5% of the overall stablecoin market. Tether's prominence Instead of focusing on declines in USDC, investors could point to Tether's growth as evidence of stablecoin inflows, for example.

Persons: Bitcoin, Steven Alexopoulos, bitcoin, USDC, Steven Lubka, Swan, David Wells, Coinbase, Lubka, Michael Bloom Organizations: U.S ., JPMorgan, Drivers, Bank, U.S, Services, Enclave Markets, U.S . Securities, Exchange Commission Locations: New York, Silicon, SVB, U.S, USDC

☆ MLB roundup: Yanks' Domingo German fires perfecto vs. A's
▼ + stars: | 2023-06-29 | by ( ) www.reuters.com time to read: +11 min

Drew Waters had two hits and a walk for the Royals, who have lost 20 of their past 25 games. Minnesota starter Kenta Maeda (1-5) pitched five innings and allowed two runs on five hits, with two walks and four strikeouts. Angels starter Jaime Barria (2-3) allowed five runs on seven hits, including three home runs, in three innings. Blue Jays 6, Giants 1Toronto erupted for five runs in the first inning and went on to defeat visiting San Francisco. Aaron Nola (7-5) yielded four runs on seven hits over five innings but benefited from the Phillies' five-run second inning.

Persons: Domingo German, Stan Szeto, Domingo, Esteury Ruiz, Josh Donaldson, Feliz Hernandez, Don Larsen, David Wells, David Cone, Giancarlo Stanton, Harrison Bader, Volpe, Donaldson, Falefa, JP, Jose Ramirez, Josh Bell, Cleveland, Bo Naylor, Ramirez, Drew Waters, Matt Olson, Olson, Kolby Allard, Kirby Yates, Kenta Maeda, Royce Lewis, Ezequiel Tovar, Randal Grichuk, Cron, Jake Bird, Justin Lawrence, Victor Gonzalez, Yonny Hernandez, Mookie Betts, Freddie Freeman, Lawrence, David Peralta, J.D, Martinez, Seby Zavala, Eloy Jimenez, Luis Robert Jr, Robert, Zavala, Andrew Vaughn, Zach Remillard, Shohei Ohtani, Brandon Drury, Lucas Giolito, Jaime Barria, Patrick Corbin, Corbin, Keibert Ruiz, Jose Caballero, Logan Gilbert, George Springer, Trevor Richards, Bowden Francis, Richards, Austin Slater, LaMonte Wade Jr, Will Benson, TJ Friedl's, Adam Frazier's, Alexis Diaz, Fernando Cruz, Keegan Akin, Nick Castellanos, Edmundo Sosa, Josh Harrison, Aaron Nola, Drew Smyly, Jared Young, Dansby Swanson, Carlos Santana, Connor Joe, Henry Davis, Josh Palacios, Mitch Keller, Xander Bogaerts, Blake Snell, Blake Perkins, Christian Yelich, Bryse Wilson, Tommy Pham, Grant Hartwig, Perkins, Dane Dunning, Adolis Garcia, Dunning, Andy Ibanez, Kerry Carpenter, Marcus Semien, Corey Seager, Josh Jung, Ezequiel Duran, Leody Taveras, Joey Wentz, Jose Altuve, Jose Abreu, Houston, Louis, Altuve, Abreu, Nolan Arenado, Paul Goldschmidt, Jazz Chisholm, Garrett Cooper, Joey Wendle, Cooper, Braxton Garrett, Rafael Devers, Rob Refsnyder, Jarren Duran, Devers, Nick Pivetta, Josh Lowe's, Lowe, Scott McGough, Yandy Diaz, Wander Franco, Luke Raley, McGough, Randy Arozarena, Isaac Paredes, Ketel Marte Organizations: New York Yankees, Oakland Athletics, Oakland, Alameda County Coliseum, Oakland Coliseum, Yankees, Tampa Bay Rays, Brooklyn Dodgers, Minnesota Twins, Montreal Expos, JP Sears, Royals, Kansas City, Guardians, American League Central, Braves, Minnesota, Atlanta, Rockies, Dodgers, Colorado, Los Angeles, White Sox, Angels, Chicago, Brandon Drury . White Sox, Nationals, Mariners, Washington, Seattle, Blue Jays, Giants, San, Reds, Orioles, TJ, Cincinnati, Phillies, Cubs, Philadelphia, Padres, Pittsburgh, Pirates, Diego, Brewers, Mets, Milwaukee, New, Rangers, Tigers, Texas, The Rangers, Astros, Cardinals, Marlins, Red Sox, Boston, Rays, Diamondbacks, Tampa, Phoenix . The Rays, Thomson Locations: Oakland , California, USA, Domingo German, New York, Kansas, Cleveland, Minnesota, C.J, Los, Denver, Los Angeles, Anaheim , Calif, Toronto, San Francisco, Baltimore, Philadelphia, San Diego, Detroit, Arlington , Texas, Miami, Tampa Bay, Arizona, Phoenix .

☆ Crypto is trying to fix its custody problem as institutions pour in and regulatory uncertainty lingers
▼ + stars: | 2023-06-29 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +8 min

And the highly regulated institutions wanting to give their clients access to bitcoin are still a little skeptical that the crypto industry has learned its lessons. Another issue is there aren't enough dedicated custodians in the crypto industry. The Go Network acts as a platform on which partner firms can execute and settle trades between crypto assets and fiat currencies. BitGo handles custody of crypto assets while dollars are spread across a network of banks for safekeeping. "[The crypto industry] was operating on the edge, saying, it's risky, but we're making a lot of money.

Persons: Crypto, Bitcoin, Roger Bayston, Franklin Templeton's, FTX, Schwab, Gustavo Schwenkler, It's, David Wells, haven't, it's, BitGo, Mike Belshe, CNBC's, Wells, Belshe, BlackRock's Joseph Chalom, Franklin Templeton's Bayston Organizations: Crypto, New York City, Arrows, Terraform, Securities and Exchange, Fidelity, Citadel, EDX, Valley Bank, First, Leavey School of Business, Santa Clara University, Nasdaq, Bank of New York Mellon, CNBC, Go, Markets, Schwab, BlackRock, Securities, Exchange, Coinbase Locations: Coinbase State, New York, First Republic, PacWest, Wells

BlackRock filed for a prospective spot bitcoin ETF on June 15, undeterred by the Securities and Exchange Commission's (SEC) past record of rejecting every such application. Bitcoin's market value has grown to comprise nearly half of the $1.1 trillion overall crypto market, its highest share in over two years, according to data tracker CoinMarketCap.com. Since the BlackRock filing, Invesco and WisdomTree have also reapplied for spot bitcoin ETFs after they had previous applications rejected by the regulator. Bryan Armour, director of passive strategies research for North America at Morningstar, said a spot bitcoin ETF could be a more cost-effective way for investors to trade. "It doesn't appear that most crypto ETF holders are institutional – assets are pretty spread out," he added.

Persons: Satoshi, Exchange Commission's, Satoshi Nakamoto's, Mikkel Morch, hasn't, Andrew Bond, Rick Meckler, Bryan Armour, I'd, David Wells, Medha Singh, Lisa Pauline Mattackal, Pravin Organizations: BlackRock, Securities, Exchange, SEC, Rosenblatt Securities, U.S, Cherry Lane Investments, Reuters Graphics Reuters, North America, Morningstar, MorningStar, TrackInsight, Morgan Asset Management, State, Enclave Markets, Pravin Char, Thomson, Reuters Locations: United States, U.S, New Vernon , New Jersey, J.P, BlackRock, Bengaluru

☆ Bitcoin volatility is back to pre-banking crisis lows, but crypto futures show investor optimism is building
▼ + stars: | 2023-04-25 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +4 min

This means traders expect bitcoin prices will increase and may be willing to pay a premium for longer-dated futures contracts in anticipation of those higher prices. The banking crisis opened many investors' eyes to the range of bitcoin's nonspeculative use cases, specifically its potential as an alternative banking system. As worries about U.S. banks have waned and inflation has eased, some are concerned the fallout from the U.S. banking crisis could tilt the economy into recession this year. The drop in bitcoin volatility also comes as the stock market's "fear index," the Cboe Volatility Index , has fallen to about 17 from 26 at the height of the banking crisis. New catalysts for volatility While the banking crisis briefly put some life back into the crypto market , tension between the crypto industry and U.S. regulators remains as a dark cloud over it.

☆ Bitcoin outlook: Crypto may be in a bull market now, but investors should still tread carefully
▼ + stars: | 2023-04-02 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +8 min

The case for a new crypto bull market has been slowly growing since the beginning of the year and gained more strength still in March. For Orsini, the new bull market in crypto began on Jan. 13, when bitcoin broke through its 200-day moving average. "But an enduring secular bull market will have clarity and regulation underpinning it." "When that framework gets introduced you're going to be closer to the beginning of a secular bull market." Less liquidity, bigger swings Bull market or not, investors agree it'll be no straight line up over the next few months.

☆ BlackRock Communications Specialists Exit As Fink Scrutiny Mounts
▼ + stars: | 2023-03-29 | by ( Rebecca Ungarino | ) www.businessinsider.com time to read: +7 min

At least nine people have left or are transitioning out of BlackRock's communications group. The corporate communications team has some 90 employees globally, up from 48 in 2019, a BlackRock spokesperson said. "We're fortunate the BlackRock communications team includes some of the most talented professionals in the industry and that we have continued to attract top talent as the team has grown in recent years," Badenhausen said in a statement to Insider. Jonathan Posen, a veteran speechwriter who worked as former Treasury Secretary Tim Geithner's chief writer on the financial crisis and other economic matters, joined BlackRock's communications group in 2013. The criticism reached new heights in 2022 as Republican state officials coordinated attacks on Fink and BlackRock and some pulled their investments.

☆ Here are 3 obstacles facing crypto in 2023 as the market looks to move on from the FTX disaster
▼ + stars: | 2023-02-07 | by ( Morgan Chittum | ) www.businessinsider.com time to read: +4 min

Crypto markets have erased losses since FTX's fallout last year, but new potential headwinds are looming. Insider asked four crypto execs about the biggest roadblocks facing the industry in 2023. For now, crypto markets are continuing to claw back losses since FTX's liquidity crisis, with the industry regaining a $1 trillion market cap. "I'm cautiously optimistic about the crypto markets this year," Timothy Shan, COO at decentralized exchange Dexalot, said. Regulation, inflation, and more crypto contagionAfter the fallout of major players, the biggest question on everyone's mind seems to be how regulation will unfold this year.

Indeed, holders big and small are taking "self-custody" of their funds, moving them from crypto exchanges and trading platforms to personal digital wallets. As a percentage of total bitcoin supply, wallet addresses holding under 10 bitcoin now own 17.4%, up from 14.4% a year ago. "If you're just going buy and hold for the next 10 years, then it's probably worth making the investment and learning how to custody your assets really, really well." The stampede has been turbocharged by the FTX scandal and other crypto collapses, with large investors leading the way. David Wells, CEO of Enclave Markets, said trading platforms were extremely cautious of the risks of storing the investors' assets with a third party.

Nov 22 (Reuters) - As the crypto castle crumbles, some true believers say the answer is to double down on DEX. Decentralized exchanges, that is. "It is now clear that there can be risk associated with holding assets in a centralized entity," said Varun Kumar, CEO of decentralized crypto exchange Hashflow. "Data is showing that users are turning to decentralized trading solutions." Many market participants see both centralized and decentralized exchanges coexisting.

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