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☆ Bitcoin on pace for fifth week of losses
▼ + stars: | 2023-07-28 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBitcoin on pace for fifth week of lossesCNBC's Dominic Chu reports on the recent performance of Bitcoin and Ethereum.

Persons: CNBC's Dominic Chu

☆ Don't chase the Coinbase rally as regulatory risks still linger, analysts warn
▼ + stars: | 2023-07-25 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

Investors shouldn't chase the Coinbase rally that was sparked by a pop in crypto asset XRP due to a partial legal win in federal court, analysts warned. The judge also ruled that Ripple violated securities laws when selling XRP to institutions but not to retail investors. However, some analysts noted investors should stay cautious around Coinbase for a little while longer. Despite the ways Coinbase and the crypto industry can benefit from the ruling, the dark cloud of regulatory uncertainty hasn't gone away yet. He added that although the ruling is positive, it's "not a Panacea" for Coinbase.

Persons: XRP, Peter Christiansen, Bank of America's Jason Kupferberg, Kupferberg, Christiansen, Michael Bloom Organizations: of, Citi, Bank of America's, SEC, Coinbase, Bank of America, America's Locations: Southern, of New York, Cancun

July 25 - XRP has become the unlikely white knight of crypto, thwarting its regulatory foes and dragging the market out of the doldrums. Its market cap has ballooned to $36 billion from $25 billion and its crypto market share to 3.5% from 2% before the ruling, according to CoinMarketCap. The market cap of XRP, the token issued by Ripple, increased by more than 60% after a U.S. judge ruled in its favour. XRP VS STABLECOINSIt's certainly not all smooth sailing for Ripple, or altcoins more generally, though. Ripple Labs said last week that its pursuit of sound crypto regulation in the U.S. was far from concluded.

Persons: XRP, it's, Matteo Greco, Ben Weiss, STABLECOINS, stablecoins, Joseph Edwards, Edwards, Lisa Pauline Mattackal, Medha Singh, Pravin Organizations: Ripple Labs, Fineqia, SEC, Enigma Securities, Pravin Char, Thomson, Reuters Locations: U.S, cryptoland, altcoins, ethereum, Bengaluru

☆ Dollar clings to gains with central banks in focus
▼ + stars: | 2023-07-24 | by ( Laura Matthews | ) www.reuters.com time to read: +3 min

[1/2] U.S. Dollar and Euro banknotes are seen in this illustration taken July 17, 2022. The euro was down 0.49% at $1.1069 while sterling was last trading at $1.2823, down 0.25% on the day, kicking off a busy week for central bank meetings with investors expecting rate hikes in Europe and the United States. The Fed concludes a meeting on Wednesday, followed by the European Central Bank (ECB) a day later and the Bank of Japan (BOJ) on Friday, as well as earnings from many heavyweight companies. The BOJ is the most likely of the three central banks to throw up a market-moving surprise, traders say, with a tweak to its yield curve control policy seen as a possibility. "There's a deep sense of unease around what might come next from the Bank of Japan," said ForexLive's Button.

Persons: Dado Ruvic, Adam Button, John Velis, ForexLive's Button, bitcoin, Laura Matthews, Alun John, Tom Westbrook, David Holmes, Jacqueline Wong, Susan Fenton Organizations: REUTERS, ForexLive, European Central Bank, Bank of Japan, Investors, ECB, Fed, BNY Mellon, Reuters, Thomson Locations: York, Europe, Toronto, U.S, United States, Americas, New York

[1/2] U.S. Dollar and Euro banknotes are seen in this illustration taken July 17, 2022. July's reading showed the sixth straight month of growth but was restrained by softening conditions in the service sector. The euro slid after PMI data showed euro zone business activity shrank much more than expected in July. The pound also dropped after British business activity data, but its move was less dramatic. There is plenty more for investors to watch this week - the Federal Reserve concludes a meeting on Wednesday, followed by the European Central Bank (ECB) a day later and the Bank of Japan on Friday, as well as earnings from many heavyweight companies.

Persons: Dado Ruvic, Joe Manimbo, bitcoin, Laura Matthews, Tom Westbrook, David Holmes, Jacqueline Wong, Susan Fenton Organizations: REUTERS, P Global, Washington D.C, ECB, PMI, Reserve, European Central Bank, Bank of Japan, Investors, Fed, Reuters, Thomson Locations: York, LONDON, U.S, Europe, Washington, United States, New York

☆ Indonesia launches new crypto bourse, clearing house
▼ + stars: | 2023-07-21 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/Illustration//JAKARTA, July 21 (Reuters) - Indonesia has launched a national crypto asset bourse to provide regulators with transaction records and better protect crypto investors, the government announced this week. The launch of the exchange and clearing house is also intended to strengthen monitoring of the booming sector amid a transition in regulatory oversight, according to the Commodity Futures Trading Regulatory Agency (Bappebti). Rising global interest rates have, however, dampened demand for crypto assets in recent months. The new bourse will list existing licensed crypto companies, such as Binance's Tokocrypto, Indodax and others as traders. PT Bursa Komoditi Nusantara will run the bourse and PT Kliring Berjangka Indonesia will clear transactions there, Bappebti chief Didid Noordiantmoko said in a statement.

Persons: Dado Ruvic, Didid Noordiantmoko, Bernadette Christina Munthe, Gayatri Suroyo, Kanupriya Kapoor Organizations: REUTERS, Commodity, Trading Regulatory Agency, Bursa Komoditi Nusantara, bourse, Kliring Berjangka, Tennet Depository Indonesia, Financial Services, Thomson Locations: JAKARTA, Indonesia, Indodax, Bursa, Kliring Berjangka Indonesia, Bappebti

☆ Coinbase is a crypto conundrum, squared
▼ + stars: | 2023-07-20 | by ( Anita Ramaswamy | ) www.reuters.com time to read: +7 min

Shares in Coinbase got a major boost after money management behemoth BlackRock (BLK.N) applied to launch a bitcoin-backed exchange-traded fund this month with Coinbase as its custodian. Coinbase shares are up nearly 54% in July, handily beating the tech-heavy Nasdaq Composite Index (.IXIC), which rose 4%. Price targets range widely: analysts polled by Refinitiv think Coinbase is worth anywhere from $8 billion to nearly $50 billion. Coinbase investors would therefore be unwise to count on a judge delivering Coinbase a win. Given bitcoin’s current $584 billion market capitalization, that suggests $74 billion of ETFs would not be much of a stretch.

Persons: Brian Armstrong, Coinbase, behemoth BlackRock, –, Gary Gensler, there’s, Goldman Sachs, Cowen, Refinitiv, Armstrong, Sam Bankman, Larry Fink, Charles Schwab, doubters, Ripple, John Foley, Streisand Neto Organizations: YORK, Reuters, Securities and Exchange, Nasdaq, SEC, Citigroup, Commodity Futures, BlackRock, Bank, New York Mellon, Interactive, Securities and Exchange Commission, Thomson Locations: Washington, United States, U.S

☆ Dollar at 15-month low as easing inflation firms rate peak bets
▼ + stars: | 2023-07-14 | by ( ) www.cnbc.com time to read: +3 min

The dollar index , which measures the U.S. currency against six major rivals, stood at 99.71 in early Asian hours, its lowest since April 2022. "Markets are generally pretty pleasant with the lower inflation data, because lower inflation together with the still resilient labour market supports the narrative of a soft landing in the U.S. economy," said Carol Kong, currency strategist at Commonwealth Bank Of Australia in Sydney. Ryan Brandham, head of global capital markets, North America, at Validus Risk Management, said the data on weekly jobless claims and producer prices are supportive of the soft landing. Although the recent trend of lower inflation may be encouraging, it probably won't be sufficient to change the committee's decision." The Japanese yen strengthened 0.23% to 137.71 per dollar and is on course for its best week against the dollar since January.

Persons: Carol Kong, Ryan Brandham, Christopher Waller, he's, Michele Bullock, bitcoin Organizations: US, Federal Reserve, Commonwealth Bank Of Australia, Risk, Fed Locations: U.S, Sydney, North America, Ethereum

The U.S. Securities and Exchange Commission (SEC) had accused Ripple Labs and its current and former chief executives of selling unregistered securities when conducting a $1.3 billion offering for XRP, which was created in 2012. Shares in Coinbase, which is also embroiled in litigation with the SEC over its trading of crypto tokens, surged 24.5% on Thursday following the decision, finishing at $107. Coinbase said it would allow trading of the XRP token again on its platform in line with the court ruling. Bitcoin , the world's largest cryptocurrency, was last up 4.1% at 31,584 while Ethereum , the world's second-largest cryptocurrency, rose 6.43% to $1,993.3. Reporting by Chibuike Oguh in New York; editing by Michelle Price and Deepa BabingtonOur Standards: The Thomson Reuters Trust Principles.

Persons: Coinbase, We've, Analisa, Torres, Paul Grewal, Chibuike Oguh, Michelle Price, Deepa Babington Organizations: YORK, Coinbase Global Inc, Ripple Labs, U.S . Securities, Exchange Commission, SEC, Labs, Inc, Marathon Digital Holdings Inc, Microstrategy Inc, Mining Corp, Twitter, Thomson Locations: U.S, Coinbase, New York

☆ A couple in their 30s that hit a net worth of $1 million have more than 95% of their stock portfolio invested in 3 index funds and the rest in one individual stock. Take a look at their portfolio.
▼ + stars: | 2023-07-13 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +7 min

Once they were debt-free, they went all-in on index funds. But once they were debt-free and in the position to start investing, they went all-in on index funds. He selected three specific index funds to invest in: the Vanguard Total Stock Market Index Fund (VTSAX), the Vanguard Total International Stock Index Fund (VTIAX), and the Vanguard Emerging Markets Stock Index Fund (VEMAX). Courtesy of Brennan and Erin SchlagbaumMore than 95% of his and Erin's stock market money is in one of these three funds. There are three things that wealthy people invest in: the stock market, business, and real estate.

Persons: Brennan, Erin Schlagbaum, That's, He's, Brennan Schlagbaum, Schlagbaum, it's, Crypto, Brennan Schlagbaum Schlagbaum Organizations: CPA, Market Index, Vanguard, Index, SEC Locations: Arlington , Texas, Texas

LONDON, July 11 (Reuters) - Global hedge funds not specialising in crypto assets have grown skittish from recent industry turmoil and this has lead to an exit from the sector, a survey showed on Tuesday. The proportion of traditional hedge funds investing in crypto-assets has dropped to 29% this year from 37% in 2022, the report by PWC and the Alternative Investment Management Association (AIMA) said. Traditional hedge funds that avoided trading in crypto said deterrents included reputational risk, a lack of clear guidance from regulators and tax authorities and unreliable data. Hedge funds that are invested in crypto mostly use bitcoin or Ethereum. Almost half of hedge funds that were already trading crypto said they would put more money in, but that crypto only accounted for 2% of assets under management.

Persons: PWC, bitcoin, Jack Inglis, Nell Mackenzie, Elizabeth Howcroft, Dhara Ranasinghe, Alexander Smith Organizations: Global, Alternative Investment Management Association, Investors, Reuters, Thomson

☆ Former CFTC chairman says crypto regulations can't wait until litigations concludes: 'We need standards today'
▼ + stars: | 2023-07-10 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

Massad, along with former SEC chairman Jay Clayton, detailed the theory in the Wall Street Journal last week. "We strongly support enforcement of the laws, but what we're saying is, we need more than that, and the reason is twofold," Massad said. "Let's not get hung up on that, or rather, let's have a parallel track which says, regardless of the classification issue, we need standards today." He added that this solution would be a way to get some basic industry standards in place without having to rewrite securities laws. "This is a way to get investor protection standards into the industry as it exists today without having to fundamentally change the securities or the derivatives laws."

Persons: Timothy Massad, CNBC's Jim Cramer, Jay Clayton, Massad Organizations: Futures Trading Commission, SEC

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBitcoin touches 13-month high, and Valkyrie refiles for spot bitcoin ETF: 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, Brian Mosoff, CEO of Ether Capital, discusses the rush by institutions to list spot bitcoin ETFs. Ether Capital helped launch the world's first spot bitcoin and Ethereum ETFs in 2021.

Persons: Valkyrie refiles, explainers, Brian Mosoff Organizations: CNBC Crypto, CNBC, Ether, Ether Capital

☆ Taylor Swift agreed to $100 million deal with FTX before it went bankrupt, but FTX pulled out
▼ + stars: | 2023-07-06 | by ( Samantha Delouya | ) edition.cnn.com time to read: +2 min

CNN —Taylor Swift signed onto a lucrative touring partnership with FTX before its collapse, but FTX pulled out of the arrangement, according to a person familiar with the discussions. Bankman-Fried has been accused of orchestrating one of the biggest financial frauds in US history, allegedly costing investors billions of dollars and improperly using customer funds from his cryptocurrency exchange, FTX. But a person familiar with the Swift discussions said the artist’s side had agreed to a $100 million tour sponsorship deal, but the deal was never finalized due to hesitation on FTX’s side. Other celebrities, including Tom Brady, Gisele Bundchen, Steph Curry, and Naomi Osaka, signed deals with FTX, which declared bankruptcy last fall. Brady and Bundchen also held stakes in FTX that were likely entirely wiped out.

Persons: CNN — Taylor Swift, FTX, cryptocurrency, Swift’s, Sam Bankman, Adam Moskowitz, endorsers, Swift, Fried, Moskowitz, “, ”, Taylor Swift, Tom Brady, Gisele Bundchen, Steph Curry, Naomi Osaka, Brady, Bundchen, Jimmy Fallon, Madonna, Kim Kardashian, Max, CNN’s Kara Scannell, Chloe Melas Organizations: CNN, FTX, New York Times, Financial Times, Securities and Exchange Commission

Cboe on Friday refilled an application with the U.S. Securities and Exchange Commission (SEC) to launch a bitcoin exchange-traded fund by asset manager Fidelity. In that filing it named Coinbase as the crypto platform that would help the exchange police manipulation in the ETF. The SEC had also raised the same concerns with Nasdaq (NDAQ.O) over a similar recent filing for a spot bitcoin ETF from BlackRock (BLK.N), the person said. The SEC has rejected dozens of spot bitcoin ETF applications in recent years, saying they did not meet the standards designed to prevent fraudulent and manipulative practices and protect investors. Bitcoin , the world's largest cryptocurrency, jumped to a more than one-year high last month after BlackRock (BLK.N) and Fidelity filed to launch bitcoin ETFs.

Persons: Cboe, Bitcoin, Coinbase, Chibuike Oguh, Michelle Price, Conor Humphries Organizations: YORK, U.S . Securities, Exchange Commission, SEC, Fidelity, Reuters, Nasdaq, BlackRock, Thomson Locations: U.S, BlackRock, New York

☆ Yen tentative, dollar soft as traders weigh Fed rate hike path
▼ + stars: | 2023-07-03 | by ( ) www.cnbc.com time to read: +4 min

A Chinese 100 yuan banknote, a 1 U.S. dollar bill and a 50 euro banknote are lying on a table. The yen remained hunkered just below the psychologically important barrier of 145 per U.S. dollar on Monday, while the dollar was on the back foot after U.S. economic data last week showed slightly easing inflation and consumer spending. Against the euro, the yen was hovering at 157.495, below the 15-year low of 158 it touched last week. It was at 183.47 per sterling , just below the seven-and-a-half-year low of 183.86 it hit on Friday. The Australian dollar fell 0.14% to $0.666, while the New Zealand dollar rose 0.16% to $0.613

Persons: Shunichi Suzuki, Marc Chandler, bitcoin Organizations: Finance, Bannockburn Forex, Bank of Japan, U.S, U.S . Federal, PCE, Citi, Labor, Survey, Sterling, New Zealand Locations: U.S, Japan, Bannockburn, U.S ., United States

☆ Ethereum co-founder says crypto crash in 2022 helped clean out 'CeFi rot' in industry
▼ + stars: | 2023-06-28 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEthereum co-founder says crypto crash in 2022 helped clean out 'CeFi rot' in industryWhile the 2022 crash caused "a lot of harm," Ethereum's co-founder Joseph Lubin said it also helped draw attention to underlying issues in the crypto industry as well as new technological developments.

Persons: Ethereum's, Joseph Lubin

Thin liquidity and big playersCrypto "market depth" has been sitting at very low levels this year. Market depth is a measure of liquidity in a market. According to data firm Kaiko, bitcoin's market depth has fallen 20% since the start of this year. Low liquidity, which has been a feature of the crypto market all year, is also partly behind bitcoin's 80% year-to-date rally. "I think trading volumes and price volatility are two of the most telling indicators of crypto market activity.

Persons: Andriy Onufriyenko, Bitcoin, Kaiko, Jamie Sly, Sly, bitcoin, Clara Medalie, Morgan Stanley, Goldman Sachs, Carol Alexander, Alexander, you've, Vijay Ayyar, Ayyar, CCData's Sly Organizations: BlackRock, CNBC, BTC, Securities, Exchange Commission, Retail, University of Sussex, Citadel, Fidelity Locations: U.S, CoinGecko, Invesco, Blackrock

☆ Bitcoin eyes third straight day of gains after touching two-month high
▼ + stars: | 2023-06-21 | by ( ) www.reuters.com time to read: +1 min

June 21 (Reuters) - Bitcoin rallied for a third straight day after hitting its highest level since mid-April, boosted by BlackRock's (BLK.N) plan to create a bitcoin exchange-traded fund (ETF) even as the sector faces U.S. regulatory scrutiny. Earlier this month, the U.S. Securities and Exchange Commission (SEC) sued major crypto exchanges including Coinbase and Binance. Bitcoin, the world's biggest and best-known cryptocurrency, was last up 5.5% on Wednesday at 29,881.00 after hitting a high of $30,755.00. "It started with BlackRock's Bitcoin ETF filing and now others are following," said Edward Moya, a senior market analyst at OANDA. "Who needs regulatory clarity if you see BlackRock making a move?"

Persons: Bitcoin, Schwab, Edward Moya, Juby Babu, Megan Davies, Sinéad Carew, Hannah Lang, Chris Reese, Richard Chang Organizations: BlackRock's, BlackRock, Street, Citadel Securities, Fidelity, U.S . Securities, Exchange Commission, SEC, Thomson Locations: Bengaluru, New York

☆ Bitcoin rises 5.1% at $28,211
▼ + stars: | 2023-06-20 | by ( ) www.reuters.com time to read: 1 min

June 20 (Reuters) - Bitcoin rose 5.1% to $28,211 at 20:49 GMT on Tuesday, adding $1,369 to its previous close. Bitcoin, the world's biggest and best-known cryptocurrency, is up 71% from the year's low of $16,496 on Jan. 1. Ether , the coin linked to the ethereum blockchain network, rose 2.98% to $1,788.6 on Tuesday, adding $51.8 to its previous close. Reporting by Nilutpal Timsina in Bengaluru Editing by Chris ReeseOur Standards: The Thomson Reuters Trust Principles.

Persons: Nilutpal, Chris Reese Organizations: Thomson Locations: Bitcoin, Bengaluru

☆ Blockchains are ‘basic utilities’ for the digital economy, says Franklin Templeton crypto head
▼ + stars: | 2023-06-19 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

Think of investing in crypto as investing in technology for the data economy. Crypto is unchartered territory for most, but the 76-year-old asset manager has dived deep into research in recent years believing digital assets will transform asset management, capital markets and the increasingly digital, data-driven world at large. "You don't expect it to end just at just Bitcoin and Ethereum , and we expect over the next several years, several things that continue to unfold and find application," Roger Bayston, Franklin Templeton's head of digital assets, told CNBC Pro at the Digital Assets Council of Financial Professionals' VISION conference in Austin, Texas. Since 2019, the firm has operated node validators on various blockchains – including Ethereum, Solana , Cardano and Polkadot . Bayston said investors who have the stomach for high volatility and uncertainty could be rewarded in the future.

Persons: Franklin Templeton, Crypto, Roger Bayston, Franklin Templeton's, Bayston, It's Organizations: CNBC Pro, Digital Assets, Financial Professionals, Government Money Market Locations: Austin , Texas, Ethereum, Solana, Cardano, U.S

☆ Roger Bayston on using blockchain technology to find investment opportunities
▼ + stars: | 2023-06-19 | by ( Joshua Natoli | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRoger Bayston on using blockchain technology to find investment opportunitiesCNBC's Tanaya Macheel sits down with Franklin Templeton Head of Digital Assets Roger Bayston at the VISION 2023 conference taking place this week in Austin, Texas. VISION is the longest-running cryptocurrency investment conference for financial professionals and investors in the industry. Bayston discusses investment opportunities using blockchain technology and finding new applications for Bitcoin and Ethereum.

Persons: Roger Bayston, CNBC's, Macheel, Franklin Templeton, Digital Assets Roger Bayston, Bayston Organizations: Franklin Templeton Head, Digital Assets Locations: Austin , Texas

☆ Blockchain technology could play a 'pivotal' role in the A.I. revolution, says Global X ETFs' Helfstein
▼ + stars: | 2023-06-18 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +1 min

There's an automation revolution taking place and blockchain technology could play a pivotal role in it, according to Scott Helfstein. "As we think about … this broader transition towards automation and digitalization, blockchain can really play an important role in securing information and facilitating data management," he said. Helfstein broke AI into various levels, from infrastructure providers like semiconductor companies and graphic chip makers to algorithm providers like OpenAI and its ChatGPT. Across all of it though is blockchain technology and a way to secure information fed into AI algorithms. Crypto is "interesting," he said, but corporate investment is pouring into automation and blockchain will play a "critical" role in its development.

Persons: Scott Helfstein, blockchain, Ethereum Organizations: CNBC Pro, Digital Assets, Financial Professionals Locations: Austin , Texas, U.S

☆ Bitcoin falls below $25,000 as Fed signals more hawkish moves ahead and regulatory screws tighten on the sector
▼ + stars: | 2023-06-15 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

Bitcoin fell below $25,000 on Thursday, as monetary policy adds to pressure from regulators. Central bankers held interest rates steady but signaled more rate hikes to come. Sign up for our newsletter to get the inside scoop on what traders are talking about — delivered daily to your inbox. The world's biggest cryptocurrency by market value traded lower to $24,897 on Thursday morning, down around 4% from $25,930 on Wednesday. Markets are currently pricing in a 65% chance that the Fed will raise rates another 25 basis-points in July.

Persons: Bitcoin, —, Ethereum, Jerome Powell's, Coinbase, Binance Organizations: SEC, Service, Federal Reserve, Fed, Securities and Exchange

☆ These 5 charts capture a rollercoaster 15 months for stocks, bonds, and crypto as the Fed pauses its tightening campaign
▼ + stars: | 2023-06-15 | by ( George Glover | ) www.businessinsider.com time to read: +4 min

Over the past 15 months, its monetary-tightening campaign fueled wild swings for stocks, bonds, and cryptocurrencies. The central bank didn't raise interest rates at the end of its June meeting Wednesday, opting not to lift borrowing costs for the first time in over 15 months. Stocks, bonds, and cryptocurrencies have all swung wildly over that period – and these five charts capture some of that chaos. When interest rates rise, stocks tend to fall because investors are able to earn better returns by parking their cash in a savings account, rather than buying shares in listed companies. Bond yields spikeBond prices also tend to slide when interest rates rise, again because would-be buyers can earn higher yields by depositing their cash in a bank.

Persons: —, –, Jerome Powell, they've Organizations: Federal Reserve, Service, Stock, Fed, Nasdaq, Dow Jones, Silicon Valley Bank, JPMorgan Chase, Western Alliance, Bitcoin Locations: Silicon, Francisco's, Beverly Hills

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