Crypto winter highlights gold’s warming qualities

LONDON, Nov 25 (Reuters Breakingviews) – The crypto winter is bitterly cold. The frost set in earlier this year with the collapse of Terra, a digital token supposedly pegged to the U.S. dollar. The recent failure of Sam Bankman-Fried’s FTX exchange has further lowered the temperature. The aggregate market capitalisation of cryptocurrencies has shrunk by … Read more

Hong Kong’s crypto push sets up race to bottom

HONG KONG, Nov 22 (Reuters Breakingviews) – Few cities in the world have expressed a desire to throw open cryptocurrency trading to retail investors since the devastating collapse of Sam Bankman-Fried’s exchange. That puts Hong Kong in a league of its own. Its financial secretary, Paul Chan, effectively committed to pressing ahead with a plan … Read more

Cryptoverse: Bitcoin wants to break its bond with stocks

Nov 1 (Reuters) – After months of tears and tantrums, bitcoin wants to split up with stock markets. The cryptocurrency, which has been closely correlated with tech stocks for much of its torrid 2022, is staging one of its strongest efforts yet to break away. Its 30-day correlation with the Nasdaq (.IXIC) slid to 0.26 … Read more

Cryptoverse: British pound fiasco boosts bitcoin’s hedge appeal

Oct 25 (Reuters) – As a developed nation, you know your currency’s in a spot of bother when investors start to hedge with bitcoin. After Britain’s brief Prime Minister Liz Truss unleashed her mini-budget on Sept. 23, filling financial markets with dread, a section of investors stampeded away from the pound and towards the cryptocurrency … Read more

Cryptoverse: Flurry of funds bet on bruised bitcoin’s allure

Oct 18 (Reuters) – A growing number of funds are betting on the long-term appeal of bitcoin and ether, a gritty gambit in the depths of a crypto winter. Unfazed by a collapse in prices over the past 11 months, investment firms have unleashed a flurry of exchange-traded funds, anticipating that elite cryptocurrencies and their … Read more

Cryptoverse: Flurry of funds bet on bruised bitcoin’s allure

Oct 18 (Reuters) – A growing number of funds are betting on the long-term appeal of bitcoin and ether, a gritty gambit in the depths of a crypto winter. Unfazed by a collapse in prices over the past 11 months, investment firms have unleashed a flurry of exchange-traded funds, anticipating that elite cryptocurrencies and their … Read more

Cryptoverse: Hack jitters push bitcoin investors back to the future

Oct 11 (Reuters) – It’s not easy being a crypto investor. They’ve seen the value of their holdings drop like a brick this year, and now many are stewing over the safety of their crypto cash after a series of heists that’s seen around $2 billion spirited away by hackers. Enter the ghost of technology’s … Read more

Cryptoverse: Bitcoin miners get stuck in a bear pit

A bitcoin representation is seen in an illustration picture taken at La Maison du Bitcoin in Paris, France, June 23, 2017. REUTERS/Benoit Tessier Register now for FREE unlimited access to Reuters.com Register Sept 27 (Reuters) – Spare a thought for the beleaguered bitcoin miner. In late 2021, miners were the toast of the town with … Read more

Cryptoverse: Ether snaps at bitcoin’s heels in race for crypto crown

Souvenir tokens representing cryptocurrency Bitcoin and the Ethereum network, with its native token ether, plunge into water in this illustration taken May 17, 2022. REUTERS/Dado Ruvic/Illustration Register now for FREE unlimited access to Reuters.com Register Sept 13 (Reuters) – For years, ether could barely dream of challenging its big brother bitcoin. Now, its ambitions may … Read more

D.C. turf war opens crypto regulatory arbitrage

Representations of cryptocurrency Bitcoin are seen in this illustration, August 10, 2022. Register now for FREE unlimited access to Reuters.com Register WASHINGTON, Aug 18 (Reuters Breakingviews) – Cryptocurrency ventures can divide and conquer Washington’s regulatory fiefdoms. The U.S. Federal Reserve staked out its turf this week, telling lenders to notify it if they offer services … Read more