Bloomberg Archives

BTC forming bottom akin to 2018 with one key difference: Bloomberg analyst

January 17, 2023 boss

Mike McGlone, Bloomberg’s senior commodity strategist believes Bitcoin (BTC) could be developing a “bottom” in the same way it did prior to 2019’s bull run but said there is a major difference this time around. During a Jan. 16 interview with crypto podcaster Scott Melker, McGlone argued unlike in 2018 when financial institutions such as the Federal Reserve were easing interest rates, this time they’re still tightening along with “every central bank.” “Back then the Fed already started easing and we held the bottom and broke out higher and then…

Binance Will Allow Institutional Investors to Keep Collateral Off the Exchange: Bloomberg

January 16, 2023

The feature will be a major blessing for crypto investors trading in the leveraged markets as most crypto traders have to keep their collateral on the exchange for trading, however by using cold storage wallets users can continue to trade crypto during volatile sessions without massive outflows on an exchange. Source

Bloomberg, WSJ and CoinDesk Among Media Orgs Seeking to Know Who Bailed Out Sam Bankman-Fried

January 13, 2023

“The public’s interest in this matter cannot be overstated,” said one filing made Thursday to Judge Lewis Kaplan in the Southern District of New York on behalf of the Associated Press, Bloomberg, Financial Times, CNBC, Reuters, Dow Jones (publisher of the Wall Street Journal) and Washington Post, among others. “Mr. Bankman-Fried stands accused of perpetrating one of the largest financial frauds in history.” Source

Hodlnaut Creditors Seek Liquidation, Reject Restructuring Plan: Bloomberg

January 13, 2023

The proposed restructuring plan would have allowed Hodlnaut directors who were at the helm during its collapse to continue managing the company. Liquidation would “maximize the company’s remaining assets available for distribution,” one of the creditors, Algorand Foundation, wrote in the filing. Source BloombergCreditorsHodlnautLiquidationPlanRejectRestructuringSeek CryptoX Portal

Canadian Crypto Exchanges Coinsquare, WonderFi in Advanced Talks to Merge: Bloomberg

January 12, 2023

The combination would create the country’s largest cryptocurrency exchange. Source

Crypto Exchange Zipmex Faces Probe From Thai Securities Regulator: Bloomberg

January 11, 2023 boss

The SEC has written to Chief Executive Officer Akalarp Yimwilai on Dec. 28, 2022 of the company possibly violating local business rules for crypto service providers, noting Zipmex may have been operating as a crypto fund manager “without permission,” the report said. Source

A Binance Stablecoin Wasn’t Always Fully Backed: Bloomberg

January 10, 2023

The resiliency of stablecoins and whether they’re backed by a reliable pile of money is a contentious one in the cryptocurrency industry. Stablecoins are meant to closely track the value of something else, often the U.S. dollar. So if investors have put, say, $10 billion into a stablecoin, there should, in theory, be $10 billion sitting somewhere to back it up. The largest stablecoin, Tether’s USDT, has been dogged for years by concern that it has not been fully backed. In 2021, Tether was forced to pay $18.5 million in…

Tag: Bloomberg