Cryptocurrencies promise to make all kinds of payments easier, including, it now appears, paying a ransom. In December the New York District Attorney announced an arrest in a kidnapping. “This case demonstrates the increasingly common intersection between cyber and violent crime — the defendant is charged with coordinating an elaborate kidnapping, armed robbery, and burglary to gain access […]
Goldman Sachs, the venerated investment banking firm whose chiefs dominate policy and sit on important financial boards in government, may not have jumped into cryptocurrency market. Chances are, it was pushed. Wall Street already has a big problem with fear of missing out, or FOMO. Now it appears that a decision to enter the Bitcoin […]
Bond guru Jeff Gundlach, founder of DoubleLine Capital, not long ago said that the bond bull market would end if yields on the 10-year U.S. Treasury approached 3%. Yields already have crossed the 2.6% level, which Gundlach predicted would be a negative headwind for stocks. Currently, the 10-year is sitting just beneath this level due to […]
The U.S. government agency charged with ensuring market integrity and protecting retail investors from fraud and abuse expressed skepticism over whether Wall Street firms could ever issue a cryptocurrency exchange-traded fund (ETF) that would satisfy securities laws. A crypto ETF would greatly expand the pool of potential investors, creating liquidity that would make cryptocurrencies more […]
The world’s largest investment manager BlackRock runs $5.7 trillion in assets. But not in Bitcoin, or not yet anyway. BlackRock has a spotty record predicting emerging technologies such as the Internet, yet it has massive influence in markets and with policymakers. Its global chief strategist for multi-asset investments, Isabelle Mateos Y Lago, recently said flatly that “Bitcoin isn’t […]
The Financial Industry Regulatory Authority (FINRA) has taken new steps to identify and weed out high-risk brokers. Under pressure from both investors and lawmakers, the industry-run regulator has created a dedicated examination unit. The unit already has identified between 100 and 200 rogue reps. This is a significant improvement over previous FINRA security measures, which […]
Bitcoin, the most popular of the digital currencies by market capitalization, has plummeted in value. Now, investor cash is starting to flow into the exchange-traded funds (ETF) business related to blockchain, the technology that drives cryptocurrencies. Investors poured $240 million into two new blockchain ETFs launched on Jan. 17. Amplify Transformation Data Sharing ETF (BLOK) increased managed […]
One argument of cryptocurrency skeptics is that the market is based on new, unproven technology. Blockchain technology might be considered new, although it has been around since 2008. Now, skeptics are being forced to admit the technology isn’t unproven. One of the world’s oldest businesses is adopting it. The Royal Mint has announced the creation of Royal Mint Gold, […]
The European Union’s largest and most influential bank believes that cryptocurrency investments are probably worthless and warns its investors to steer clear. Deutsche Bank’s wealth management division strongly advises against investing in cryptocurrencies, ICOs and tokens, said Markus Mueller, its global head of investment. A white paper produced by the bank cites extreme volatility, price manipulation […]
Economist Nouriel Roubini is known as “Dr. Doom” because he generally has a dim view of markets. But his opinion is still widely respected because his past calls have been prophetic. In 2006, for instance, he warned that a housing bust was on the horizon and it would force the global financial system to freeze […]
