How Professional Traders Are Changing the Cryptocurrency Market: “Market Structure is Evolving”

As cryptocurrency loses its stigma as nothing more than a convenient conduit for criminals and money launderers, banks have so far proceeded with caution. Goldman Sachs and JPMorgan are among the large banks that have engaged in trading cryptocurrencies – not cryptocurrencies per se, but futures contracts and other instruments – to reap the volatility … Read more

The former CFTC chairman calls Biden’s approach to cryptocurrency regulation “reactionary”

Believers in the transformative power of blockchain have labeled the rise of bitcoin BTCUSD, + 0.18% and other cryptocurrencies a revolution, implicitly placing financial industry incumbents and federal regulators in the role of eager reactionaries. Former Commodity Futures Trading Commission Chairman Chris Giancarlo made the analogy explicit on Tuesday when he called the Biden administration’s … Read more

Bitcoin in the Bank: Traditional lenders try their hand at cryptocurrencies outside the United States

Traditional banks outside the United States are sampling cryptocurrencies, offering customers ways to invest and store bitcoin and other digital assets. Banco Bilbao Vizcaya Argentaria SA BBVA 1.36% —The second largest asset lender in Spain, with operations in Latin America and Turkey — allows customers to hold, buy and sell bitcoin and ether through a … Read more

US equities open higher on the first trading day of 2022

US equities opened 2022 with tepid gains as investors monitored the cases of the Omicron variant of Covid-19 and other factors that could weigh on equities this year. The S&P 500 gained 0.4% in early trading on Monday. The index ended 2021 up 27%, hitting 70 record highs along the way. The technology-focused Nasdaq Composite … Read more

A booming startup market requires an investment race for ever younger companies

Blank Street has a simple business: it sells coffee, sometimes in carts, usually in small shops. It launched its first venue 17 months ago, before starting dotting Manhattan and Brooklyn with bartenders. Even a couple of years ago, a fast-growing chain of no-frills, low-cost coffee shops may have struggled to find interest from tech investors. … Read more

2021 is in the books of records: a year of memes, cryptocurrencies and stocks at an all-time high.

Text size This year has seen many stock records, meme craze, a leap in IPOs, and more. Staff illustration; Dreamstime (9) 2021 was a grueling year, perhaps even more grueling than 2020. Measuring the economic fallout of the new coronavirus variants: first Delta and now Omicron, a surge in inflation and a wave of meme … Read more

The $ 900 billion pile of cash that inflates startup valuations

Investors are braving a share price plunge for new public companies to put hundreds of billions of dollars at the disposal of startups, a stack of cash that promises to inject a torrent of money into early-stage companies in 2022 and beyond. Special-purpose acquisition companies, which make startups public through mergers, raised about $ 12 … Read more

Foggy regulations challenge cryptocurrencies, says Gemini’s head of compliance

Opaque regulations remain a major challenge for the cryptocurrency industry, according to Elena Hughes, chief compliance officer of the cryptocurrency exchange Gemini Trust Co. She joined NYC-based Gemini in May 2020 after more than a decade of compliance work for traditional financial institutions such as Morgan Stanley and Goldman Sachs Group Inc. Gemini was launched … Read more

Google and Tech Rivals leverage cash reserves to realize cloud ambitions

Google and its rivals are wielding a new weapon in the battle for cloud computing market share: large investments in companies that agree to access their services. With Thomas Kurian as CEO of the cloud since 2019 after a long tenure at Oracle Corp. ORCL -0.50% , the alphabet Inc. GOOG 0.04% leveraged its $ … Read more