Bitcoin has already bottomed, has a fair value of $40,000, says Anthony Scaramucci

Anthony Scaramucci, founder and managing partner at SkyBridge Capital, said he believes that the worst of the crypto bear market has already passed, after crypto hedge fund Three Arrows, lender Celsius and broker Voyager went into bankruptcy. Scaramucci made the comments while bitcoin BTCUSD, -0.34% is still down 66% from its peak in November, trading … Read more

Opinion: Fidelity’s bitcoin move getting all the wrong publicity

What would Ned Johnson do? The late, great Fidelity Investments honcho built his family’s Boston-based money management firm into one of the biggest in the world over the course of a long career. Johnson died on March 23 of this year, age 91. On April 26, just over one month later, his daughter and heir, … Read more

Fintech start-ups follow Fidelity Investments with retirement plans featuring bitcoin

Fidelity Investments made waves in the retirement-planning industry when it became the first of the major record-keepers to roll out bitcoin for 401(k) plans. But fintech start-ups are moving in as well. In April, Fidelity said that some of the 401(k) plans it administers would soon offer employees a way to invest in bitcoin through … Read more

Crypto crash: How prices for bitcoin and ethereum changed in June 2022

Cryptocurrencies like bitcoin BTCUSD, +3.49% and ether ETHUSD, +5.49% have exploded in popularity in recent years, and are now traded by both individual investors and large companies like Tesla TSLA, -0.01%  and Citibank. The total market cap for all crypto nearly hit $3 trillion during parts of 2021 and companies like Robinhood HOOD, -1.16%,  Coinbase COIN, +3.31% … Read more

Crypto crash: How prices for bitcoin and ethereum changed in June 2022

Cryptocurrencies like bitcoin BTCUSD, +3.33% and ether ETHUSD, +4.30% have exploded in popularity in recent years, and are now traded by both individual investors and large companies like Tesla TSLA, -0.05%  and Citibank. The total market cap for all crypto nearly hit $3 trillion during parts of 2021 and companies like Robinhood HOOD, -0.24%,  Coinbase COIN, +3.04% … Read more

Hedge fund adviser Patrick Ghali on crypto, ESG and why clients are dumping ‘any exposure to China’

Patrick Ghali, co-founder of hedge fund advisory Sussex Partners, talks with Financial News about how his clients are adapting to this year’s sharp downturn in markets and how they’re positioning for a recession, a crypto winter and sustainable investing. His comments have been edited for clarity. In between the war and where energy prices go, … Read more

Research Affiliates CEO calls crypto a ‘Ponzi scheme,’ questions ‘substance’ of blockchain

The chief executive of California-based asset manager Research Affiliates has called cryptocurrencies a “Ponzi scheme”, claiming bitcoin and the blockchain technology underpinning the world’s largest digital asset help fuel illegal activity. “They are a Ponzi scheme that facilitates money laundering,” Chris Brightman told Financial News when asked about his views on cryptocurrencies. Brightman, who became … Read more

Three Arrows hedge fund has defaulted on $675m crypto loan, broker Voyager Digital says

Crypto broker Voyager Digital said that hedge fund Three Arrows Capital had defaulted, failing to make loan payments tied to large bets in the digital-currency realm. Three Arrows had borrowed $675m from Voyager Digital in the form of 15,250 bitcoin and $350m in USD Coin, a stablecoin whose value is pegged to the dollar. Voyager had previously said … Read more

Binance CEO says the worst of the crypto crash ‘is probably over’

“‘I think the worst part is probably over. We’ve seen a pretty sharp drop.’” That’s Changpeng Zhao, CEO of cryptocurrency exchange Binance, discussing the recent skid in crypto prices, which some are labeling a full-scale crash. Zhao’s comments were documented by Coindesk crypto writer Sandali Handagama. The event had not released video of the panel … Read more

Bankers who quit for crypto have no regrets amid meltdown: ‘I have never looked back, not one day’

Bankers quitting mainstream finance to capitalise on the boom in digital assets have instead been greeted with a new “crypto winter”. Former staff at JPMorgan, Goldman Sachs and Citigroup have been among those hit as crypto exchange Coinbase cut 1,100 roles and rescinded 300 job offers, while Gemini, Crypto.com and BlockFi have also cut back … Read more