Global Intelligence
From ZH China expanded its escalating crackdown on cryptocurrencies on Friday when its central bank declared that all activities related to digital coins are “illegal” and must be banned. In a statement the People’s Bank of China said the latest notice was to further prevent the risks surrounding crypto trading and to maintain national security and social […]
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From ZH It’s a tale of two crackdowns – and two cultures. While Beijing scrambles to stamp out immaturity and laziness among its males, Washington is terrified of… wait for it… cryptocurrency. Gary Gensler, Joe Biden’s deeply establishmentarian SEC head, has dropped a bomb on the crypto community with his sudden attack on Coinbase, the […]
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From Bloomberg U.S. officials are discussing launching a formal review into whether Tether and other stablecoins threaten financial stability, scrutiny that could lead to dramatically ramped-up oversight for a fast-growing corner of the crypto market. After weeks of deliberations, the Treasury Department and other federal agencies are nearing a decision on whether to launch an examination by the Financial […]
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Submitted by Nicholas Colas of DataTrek Research There was something in today’s FOMC meeting minutes that, from our cursory word search of prior meetings, doesn’t appear to have ever been a topic of conversation before: virtual currencies. Here is the exact quote: “Some participants cited various potential risks to financial stability including the risks associated with expanded […]
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from ZH In a story that will sound familiar to anybody who followed the collapse of Canadian crypto exchange Quadriga, two brothers who ran a South African crypto exchange have absconded with Bitcoin worth $3.6 billion stolen from their clients, demonstrating once again the one glaring security weakness: While hackers are believed to have brought down […]
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from cryptowhale.medium Over the past several years, the crypto markets have grown significantly. Most of the world has attributed this rise in price as a consequence of excessive money printing, and growing fears of inflation in the traditional financial markets. While those things may have played a small role, the main contributor to the bull […]
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from ZH For the better part of the past decade, Wall Street traders would end their week with at least a casual glance at JPMorgan’s closely-followed cross-asset report written every week by the bank’s top x-asset strategist, John Normand. But not any more: as Normand wrote in his May 21 note published last Friday, “this […]
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From coindesk Cryptocurrency project DeFi100, a decentralized finance (DeFi) protocol built on the Binance Smart Chain, appears to have been a scam, with the people running it having taken investors’ money and running. A unnamed crypto analyst on Twitter with more than 197,000 followers put the haul at $32 million. It was unclear how that figure was […]
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From ZH When Goldman officially announced two weeks ago that it was re-launching a previously rumored cryptocurrency trading team on May 6… … some joked that this was the top-tick for the crypto space: after all, the last time Goldman launched a bitcoin trading desk, the sector imploded and just a few months later Goldman killed its expansion plans, sending cryptos tumbling […]
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From ZH Summary: China reportedly launches widespread ban on crypto payments, warns of speculation Overall crypto market cap drops $1 trillion Ether down 40% at worst (rebounding strongly off $2000) Bitcoin down over $10,000 at worst (rebounding strongly off $30000) Crypto proxy stocks hammered Coinbase outages spark anger among traders Binance halts Ethereum withdrawals JPMorgan […]
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