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[1/2] The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, June 9, 2023. Wall Street futures were up, pointing to another session of gains after the S&P 500 rose for the fourth week in a row last week. "Obviously if we have a big negative surprise on inflation and inflation comes in much hotter than expected, that is going to challenge central banks and the Fed in its 'pause' strategy," he said. Money markets are pricing in around a 75% chance of the Fed keeping rates steady, and a 25% chance of a 25 basis points rate hike, according to the CME FedWatch tool. The European Central Bank is expected to raise rates by 25 basis points on Thursday.

Persons: Europe's, Samy Chaar, Lombard, Elizabeth Howcroft, Sharon Singleton, Chizu Organizations: REUTERS, U.S, CPI, Fed, U.S . Federal Reserve, European Central Bank, Wall, Nasdaq, Investors, Reserve Bank of Australia, Bank of Canada, Bank of Japan, People's Bank of China, Brent, . West Texas, Thomson Locations: Frankfurt, Germany, China, U.S, Europe, Hong Kong

[1/2] The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, May 26, 2023. U.S. President Joe Biden and top congressional Republican Kevin McCarthy reached a tentative deal on Saturday to raise the federal government's $31.4 trillion debt ceiling, aiming to stop the U.S. from defaulting on its debt. The deal is expected to provide only short-term relief for markets, as worries linger about inflation and further rate increases. European stock indexes initially opened higher, then faltered, with Europe's STOXX 600 down 0.1% on the day (.STOXX). If the debt ceiling deal passes through Congress, then market attention will return to the U.S. Federal Reserve's plans for rates, according to Samy Chaar, chief economist at Lombard Odier.

May 19 (Reuters) - Auction house Sotheby's announced Friday seven non-fungible tokens from bankrupt cryptocurrency hedge fund Three Arrows Capital sold for about $2.5 million. The auction was part of liquidating Three Arrows, according to a February memo from Teneo, one of the court-appointed liquidators. Singapore-based Three Arrows was the first major crypto firm to go bankrupt in 2022, brought down by the collapse of cryptocurrencies Luna and TerraUSD. Non-fungible tokens (NFTs) are a blockchain-based asset that represents ownership of a digital item, such as an image, video or piece of text. The market for NFTs exploded in 2021, and auction houses including Sotheby’s and Christie’s joined the craze.

LONDON, May 17 (Reuters) - U.S. crypto firm Ripple has bought Switzerland-based crypto custody firm Metaco for $250 million, in its first major acquisition, Ripple said on Wednesday. Investor interest in crypto assets has cooled following a drop in cryptocurrency prices in 2022 and series of collapses at major crypto firms, including U.S. exchange FTX. Investors have become increasingly cautious about where and how crypto assets are stored, after crypto platforms freezing withdrawals left them facing large losses. Ripple CEO Brad Garlinghouse said he expected increased demand from institutional investors for crypto custody services. More than half of the $250 million acquisition was paid for in cash, and the rest in equity, Ripple said.

☆ Stablecoin Tether's reserves hit $81.8 billion in Q1 - reserves report
▼ + stars: | 2023-05-10 | by ( ) www.reuters.com time to read: +1 min

LONDON, May 10 (Reuters) - Stablecoin Tether's reserves were worth $81.8 billion at the end of the first quarter, according to a reserves attestation on Wednesday, up around $14.8 billion from the previous quarter. Tether's reserves include $53 billion of U.S. treasuries, the report said, up from $39.2 billion at the end of 2022. They also include $1.5 billion worth of bitcoin and $5.3 billion worth of loans which the report said are "over-collateralized". A repo, short for repurchase agreement, refers to when financial institutions use U.S. Treasuries and other high-quality securities as collateral to raise cash, often overnight. Reporting by Elizabeth Howcroft and Hannah Lang; Editing by Alison WilliamsOur Standards: The Thomson Reuters Trust Principles.

LONDON, April 28 (Reuters) - Mastercard (MA.N) will expand its cryptocurrency payment card programme by seeking more partnerships with crypto firms, the company's head of crypto and blockchain said, even as the sector comes under closer scrutiny from regulators and banks grow wary. Mastercard has already partnered with crypto exchanges including Binance, Nexo and Gemini to offer crypto-linked payment cards in some countries. "We have dozens of partners around the world who offer crypto card programmes and they continue to expand," Raj Dhamodharan, Mastercard's head of crypto and blockchain, told Reuters on Thursday. Banks have become wary of crypto clients after a number of big crypto firms collapsed last year, including the bankruptcy of major exchange FTX. Asked if Mastercard is considering imposing restrictions on the amount of money that could be transferred to crypto exchanges using its payments network, Dhamodharan said, "We're not here to pick winners.

☆ European commercial real estate investment slumps to 11-year low in Q1 2023
▼ + stars: | 2023-04-27 | by ( ) www.reuters.com time to read: 1 min

LONDON, April 27 (Reuters) - European commercial real estate investment fell to its lowest in 11 years in the first quarter of 2023, MSCI Real Assets said on Thursday, as investors spooked by higher interest rates and the economic outlook put acquisition plans on ice. The number of offices sold - Europe's largest real estate sector - fell to its lowest on record, while the volume of transactions slumped to a 13-year low of 10.8 billion euros ($11.94 billion). The UK kept its top spot as Europe's largest commercial real estate market, but Paris overtook London to become the region's most active investment destination, with the three largest European property deals of the first quarter all taking place in the French capital. ($1 = 0.9048 euros)Reporting by Elizabeth Howcroft, editing by Sinead CruiseOur Standards: The Thomson Reuters Trust Principles.

☆ Crypto must end anonymity for illicit finance, U.S. regulator says
▼ + stars: | 2023-04-25 | by ( Huw Jones | ) www.reuters.com time to read: +2 min

LONDON, April 25 (Reuters) - Anonymity is allowing crypto assets to finance illegal activities, a top U.S. regulatory official said on Tuesday, posing national security risks that must be addressed. "It's essential for governments and particularly the industry to address that which makes crypto so attractive to illicit finance, and that is the allure of anonymity," she said. Legally compliant crypto companies should not be using "mixers" or software tools that effectively anonymise users by pooling and scrambling cryptocurrencies from thousands of addresses. Compliant crypto companies must show they have internal controls to prevent money laundering and terrorist financing. "It's possible for all crypto companies to distance themselves from mixers and anonymity enhancing technology while still providing customers financial privacy," Romero said.

LONDON, April 24 (Reuters) - Top cryptocurrency bitcoin could reach $100,000 by the end of 2024, Standard Chartered (STAN.L) said on Monday, saying that the so-called "crypto winter" is over. "While sources of uncertainty remain, we think the pathway to the USD 100,000 level is becoming clearer," Kendrick wrote. Bitcoin has rallied so far this year, rising above $30,000 in April for the first time in ten months. It gains represent a partial recovery after trillions of dollars were wiped from the crypto sector in 2022, as central banks hiked interest rates and a string of crypto firms imploded. A Citi analyst said in November 2020 that bitcoin could climb as high as $318,000 by the end of 2022.

LONDON, April 20 (Reuters) - Major U.S. crypto exchange Coinbase Global Inc (COIN.O) has said it has secured a licence to operate in Bermuda, as part of a wider push to expand globally. Coinbase CEO Brian Armstrong said on Tuesday that crypto firms will develop in "offshore" havens unless the U.S. and UK create "clarity about regulation" for crypto. Coinbase is planning to launch a crypto derivatives exchange in Bermuda as soon as next week, Fortune reported on Wednesday, citing a person close to the company. In March, derivatives trading volumes on major exchanges hit some $2.8 trillion, according to London researcher CCData, versus spot trading volumes of just over $1 trillion. Crypto firms say they need clarity about regulations, but Gensler has said that crypto markets "suffer from a lack of regulatory compliance, not a lack of regulatory clarity".

REUTERS/Dado RuvicLONDON, April 19 (Reuters) - Crypto firms have been left scrambling to find banking partners after the collapse of three crypto-friendly lenders in the U.S. last month, creating a risk their business will become concentrated in smaller financial institutions. Mainstream banks have become increasingly wary of crypto clients following a series of high-profile collapses, including the bankruptcy of major exchange FTX in November last year, and a lack of regulation. "Crypto and Web3 start-ups are telling us they simply cannot get a business bank account," said Marcus Foster, head of crypto policy at Coadec, a body representing UK start-ups. A spokesperson for ING said the bank does not "target or focus actively on crypto firms" so its exposure is "very limited." But for smaller crypto start-ups, securing a banking partner could be more difficult, said Ricardo Mico, the U.S. CEO of Banxa (BNXA.V), a payment and compliance infrastructure provider for crypto.

The Bank of England has raised interest rates 11 times since December 2021 in a bid to curb soaring inflation, which has squeezed living standards. Anil said last month's banking sector turmoil, sparked by the failure of SVB which spooked investors, could contribute to a broad shake-up in the digital finance sector. "The Bank of England looking at the regulations... is the sensible course to do," Sam Everington, senior executive at British digital bank Starling, told the event in London. Digital finance company bosses said they were confident the sector could weather tough economic conditions, but that pressure was building on business models. Lisa Jacobs, CEO of fintech Funding Circle, said much of the digital finance industry had only ever known low interest rates, but she was confident the industry could still show its value.

LONDON, April 13 (Reuters) - Cryptocurrency investors are facing delays to withdraw funds deposited on the Ethereum blockchain after its major software upgrade, highlighting persistent headaches for Ethereum which aims to have the technology widely used for instant payments. The software upgrade, known as "Shapella," was set to unlock more than $30 billion worth of ether , the second-biggest cryptocurrency, which investors had deposited on the Ethereum blockchain in return for interest. Until Wednesday's upgrade, investors could not withdraw funds they had deposited via this method, known as "staking", on the Ethereum blockchain. As of Thursday, ether worth around $1.4 billion was stuck in a withdrawal queue, blockchain data firm Nansen said. "Due to the processing limitations on the Ethereum network, Binance will set a daily ETH redemption quota for each Binance user," Binance said on its website.

Media coverage of BDO's warning on March 1 prompted immediate questions from financial regulators, a March 6 letter to Reuters from Revolut shows. The letter did not address the banking licence application nor its status. "I would be astonished if the regulators go ahead with the banking licence," he added. Revolut applied for a banking licence about two years ago. With a banking licence, Revolut would become a more established player in the U.K. banking market and be able to draw more customers.

Launched in February 2022, the FTX Future Fund was part of the FTX Foundation, the philanthropic arm of Sam Bankman-Fried's crypto empire which fell apart last year, in what U.S. prosecutors called an "epic" fraud. Representatives for FTX also declined to comment and declined to say whether the FTX Foundation is included in the bankruptcy proceedings. The FTX Future Fund supported research into topics that "improve humanity's long-term prospects" and was funded primarily by Bankman-Fried, according to a profile of its activities published on Twitter. FTX's statement did not reference the FTX Future Fund specifically. One FTX Future Fund beneficiary in the U.S., who asked not to be named, said they received a grant of more than $150,000.

LONDON, March 31 (Reuters) - Britain's digital banks will need support over the next few weeks and months to help them cope with the market fallout from the collapse of Silicon Valley Bank, a trade body representing UK fintechs said on Friday. A neobank, or digital bank, is a bank whose services are accessed via an app or website as opposed to having physical branches. He said that challenger banks - lenders which are usually smaller and newer than the big high-street banks - in Britain could be at risk. Hirt said that Innovate Finance has been offering "close support" to challenger banks to help them navigate the "turbulence" in the sector. BoE governor Andrew Bailey told lawmakers this week that the central bank was on alert amid the global turmoil, but added that Britain was not experiencing stress linked to the demise of Silicon Valley Bank.

☆ Signs of pain as easy cash era ends are growing
▼ + stars: | 2023-03-30 | by ( ) www.reuters.com time to read: +5 min

LONDON, March 30 (Reuters) - The easy-cash era is over and markets are feeling the pinch from the sharpest jump in interest rate in decades. Since late 2021, big developed economies including the United States, euro area and Australia have raised rates by almost 3,300 basis points collectively. Japanese, European and U.S. banks stocks, while off recent lows, are still well below levels seen just before SVB's collapse. Reuters Graphics2/ DARLINGS NO MOREAs the SVB collapse showed, stress in the tech sector can quickly ripple out across the economy. Reuters Graphics4/ CRYPTO WINTERHaving benefited from an influx of cash during the easy-money era, cryptocurrencies have felt pain as rates rose last year, then gained on recent signs that tightening could end soon.

Companies Binance Labs FollowLONDON, March 29 (Reuters) - Investors withdrew $1.6 billion of cryptocurrency from crypto exchange Binance since it was sued by the U.S. CFTC on Monday, blockchain data tracker Nansen said on Wednesday. The U.S. Commodity Futures Trading Commission (CFTC) sued Binance - the world's biggest crypto exchange - along with its CEO and former top compliance executive, alleging that they were operating an "illegal" exchange and a "sham" compliance program. Since the lawsuit, Binance has seen $1.6 billion of overall withdrawals and $852 million in the last 24 hours, Nansen said, in a step up from the average of $385 million per day over the last two weeks. Martin Lee, research analyst at Nansen, said that the outflows were higher than usual, but still not as high as Dec. 13, when investors pulled $3 billion from Binance as they grew nervous about the status of Binance's reserves. Reporting by Elizabeth Howcroft, Editing by Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

Last year it breached liquidity requirements at some of its entities after an unsubstantiated social media report sparked client exits. In the U.S., the decision to insure all bank deposits after SVB was shuttered surprised many. QUICKLY DISAPPEARSome in the banking industry play down the risks of another SVB-style downfall spurred by social media. Regulators will also need to monitor social media and develop a set of protocols to guide how they respond, according to Patricia McCoy, a law professor at Boston College. "They need to be looking for any signs of unsubstantiated rumors, panic starting to mount on social media, and they've got to do it around the clock," she said.

March 22 (Reuters) - Stablecoin USDC's issuer Circle said its chief strategy officer's Twitter account was hacked on Wednesday, after the account posted a link appearing to offer holders of the stablecoin USDC a "one-time bonus" of free cryptocurrency. The Twitter account of Dante Disparte, Circle's chief strategy officer, sent a series of tweets appearing to address the stablecoin's recent move away from its dollar peg. One of the tweets - which is no longer visible - said that Circle "will be distributing a one-time bonus of USDC to all existing holders". "This bonus is our way of thanking you for your continued support and trust in USDC," the tweet said. Circle's official Twitter account said that Disparte's account had been "taken over by a scammer".

U.S. Treasury yields extended a slide after data showed March U.S. consumer sentiment fell for the first time in four months. Credit Suisse's chief executive said on Friday the bank was working hard to stem customer outflows, although this could take time. The STOXX 600 (.STOXX) index fell 2.21%, while Europe's broad FTSEurofirst 300 index (.FTEU3) dropped 22.85 points, or 1.31%. The U.S. 2-year Treasury yield , which is sensitive to shifts in interest rate expectations, fell to 3.9835% compared with a previous close of 4.13%. The benchmark German 10-year yield fell to 2.099% versus 2.243% previously .

Still, analysts say the worry about a possible banking crisis is far from over. Credit Suisse's chief executive said on Friday the bank was working hard to stem customers outflows, although this could take time. At 0944 GMT, the MSCI world equity index, which tracks shares in 47 countries, was up 0.4% on the day. The central bank's supervisory board met on Friday to discuss stress and vulnerabilities in the euro zone banking sector. The Australian dollar, seen as a liquid proxy for risk appetite, was up 0.7% on the day at $0.6705 .

Virgin Money (VMUK.L), Britain's sixth largest bank, said in a statement it had also seen "net business deposit inflows in recent days". That means SVB UK's customer deposits are safe and their loans supported, HSBC's top bosses have said. Franklin told Reuters a number of CEOs and startup execs had started researching other banks with which to park cash in addition to SVB UK this week, citing Barclays as a favourite among some. But the collapse of SVB has intensified scrutiny of the business models of all lenders, including specialists with smaller balance sheets to fall back on. "The UK banking system remains safe and continues to operate as normal."

LONDON, March 16 (Reuters) - Crypto investors pulled around $3 billion overall from the stablecoin USDC in three days, the company behind the token said in a blog post on Thursday, as investors rushed to redeem their holdings in the wake of the collapse of Silicon Valley Bank. USDC broke its dollar peg on Saturday after Circle revealed that $3.3 billion of the coin's reserves were at SVB . The rapid outflows come after U.S. banking regulators issued a fresh warning last month that crypto-related deposits in banks could be subject to liquidity risks. In the past week, investors have pulled a net $6 billion from the coin, according to CoinGecko data. "The events of the past week have impacted the liquidity operations for USDC," Circle said.

LONDON, March 14 (Reuters) - Britain's NatWest (NWG.L) has imposed new limits on the daily and monthly amount customers can send to cryptocurrency exchanges, seeking to protect consumers from "crypto-criminals", the bank said on Tuesday. From Tuesday customer transfers to cryptocurrency exchanges will be limited to 5,000 pounds ($6,088) per 30-day period, with no more than 1,000 pounds per day, NatWest said. Regulators around the world have warned of the risks of scams and fraud in the largely unregulated world of crypto trading. In June 2021 NatWest introduced some daily caps on customers' crypto transfers to crypto exchanges, including top platform Binance, with the limits varying in size depending on the platform in question. Santander said in November last year that it would block customers from sending real-time payments to cryptocurrency exchanges some time this year.

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