Bloomberg Crypto @0x377c85e37c50d75591c6a126d7e42511df527167 Active 2 hours, 40 minutes ago Activity Profile Shop Friends 3 Groups Forums Media 295 All295 Albums1 Photos295 Videos0 Music0 Create an Album Album Title : Album Description : Create Album Please login You need to be logged in to upload Media or to create Album. Click HERE to login. Upload Media Gallery Crypto Fears Ease in Asia as Officials Aim to Keep Up With Trump Malaysia and Thailand have recently signaled shifts in policy Progress in the region is incremental compared with Trump’s US Lawmakers in some of Asia’s key digital-assets markets are warming to the industry as Donald Trump’s pro-crypto agenda in the US ripples through the region. Officials in Thailand, Malaysia and Japan are among those to have signaled shifts in their treatment of cryptocurrencies since around the turn of the New Year. The Asia-Pacific region already boasts aspiring crypto hubs in Singapore and Hong Kong and a sleeping giant in China, where an industry ban has curbed activity since 2021. Bloomberg Crypto Ether Trails Rivals as Trump’s Memecoin Debut Bolsters Solana The Ether-to-Bitcoin ratio is at its lowest level since 2021 The second-largest digital asset is falling behind rival coins Ethereum’s cryptocurrency keeps losing ground to rival tokens as it struggles to harness tailwinds created by President Donald Trump’s foray into a highly speculative corner of the digital-assets market. The Ether-to-Bitcoin price ratio — which measures the performance of the second-ranked token against that of the largest — fell to its lowest level since 2021 on Monday, according to data compiled by Bloomberg, while Bitcoin hit a record of $109,241. The native token of Solana, a blockchain that competes with Ethereum, reached fresh highs over the weekend. Bloomberg Crypto A Memecoin President Is Reigniting Crypto Frenzy Memecoins by a US president-elect and first lady became a reality this weekend with all the bombastic trappings that are bound to characterize Donald Trump's next term in office. “$Trump is currently the hottest digital meme on earth,” Eric Trump wrote on X. “We are just getting started!” Even though the small print on the website states his token isn’t intended to be an “investment opportunity, investment contract, or security of any type,” crypto-minded Trump fans immediately started buying. Bloomberg Crypto Crypto Industry Lists Regulatory Framework at the Top of Its Trump Wish List As inauguration day approaches, members of the crypto industry are eagerly anticipating a slew of digital asset friendly executive actions at the dawn of a second Trump Administration. Potentially at the top of the wish list would be an executive order prompting the regulatory agencies, including the Commodity Futures Trading Commission and the Securities and Exchange Commission to collaborate on building a framework for digital asset policy. While decisions about how cryptoassets are classified will ultimately be up to Congress, an executive order could spur the agencies to produce research pushing the issue forward. The largest US firms in the sector, from Coinbase Global Inc. to Ripple Labs, have long advocated for clear regulatory guidelines just for digital assets. Bloomberg Crypto Wall Street’s Complex Trading Strategies Are Off to a Great Start Say what you will about the year so far for markets, it hasn’t been boring. The S&P 500 has posted single-day moves exceeding 1% in nearly half the trading sessions since Christmas, oil briefly touched $80 and Treasuries have proved anything but risk free. The volatility may be disquieting, but it’s what Wall Street has been hoping for. Bloomberg Crypto Swiss State-Owned Bank PostFinance Expands in Crypto With Ethereum Staking Swiss state-owned bank PostFinance AG expanded its digital-asset offering by introducing staking, allowing holders of the second-biggest cryptocurrency Ether to earn passive income. PostFinance will add staking for other tokens in the “near future,” according to a statement on Thursday. Staking refers to the practice of pledging cryptoassets to validate blockchain transactions and earning more tokens. Bloomberg Crypto China Weighs Sale of TikTok US to Elon Musk Good morning. Elon Musk may be about to get an even more powerful platform—TikTok. Donald Trump’s team is looking at gradual tariff hikes. And cannabis cocktails are everywhere, but are they actually legal? Listen to the day’s top stories. Elon Musk’s social media empire may be about to expand. Chinese officials are evaluating a potential option that involves Musk acquiring the US operations of TikTok if the app is banned, people familiar said. It’s unclear whether the multibillionaire, TikTok and ByteDance have held any talks. Meanwhile, two Chinese social apps, Xiaohongshu and Lemon8, took the top two positions on Apple's iPhone download charts in the US as users seek an alternative. Could Elon Musk Buy TikTok US? Bloomberg Crypto Robinhood to Pay $45 Million to Settle SEC Claims Two units of Robinhood Markets Inc. agreed to pay $45 million in civil penalties to settle a range of US Securities and Exchange Commission allegations, the regulator said Monday. Robinhood Securities LLC and Robinhood Financial LLC’s missteps include failing to report suspicious activity on time and not preserving electronic communications records, among other securities law violations, the SEC said in a cease-and-desist order. Bloomberg Crypto Crypto CEOs Clamor for Access to Trump as Inauguration Day Nears Donald Trump and his inner circle, including incoming White House AI and crypto czar David Sacks, are still weighing potential appointees. Photographer: Al Drago/Bloomberg Circle Chief Executive Officer Jeremy Allaire said Thursday on X that the stablecoin company contributed tokens worth $1 million to President-elect Donald Trump’s inaugural committee — joining a parade of other CEOs vying for favor as the incoming administration works to form a key crypto industry group. With the inauguration less than two weeks away, industry executives are jockeying for access to Trump himself and for a seat on the planned crypto advisory council, expected to be formed soon after Trump takes office. Bloomberg Crypto Bitcoin Languishes as US ETFs See Second-Highest Daily Outflow US Bitcoin ETFs suffer second-biggest daily outflow on record Trump’s support for the industry has pushed BTC to new highs After a strong start to the new year that saw Bitcoin retake the $100,000 level, the original digital asset is struggling to maintain momentum. Bitcoin fell as much 1.8% to $92,741 on Thursday, down sharply from a high of $102,733 on two days earlier and about 14% below its all-time record of $108,315 set in mid-December. Bloomberg Crypto Stablecoin Payments Are Catching on in the ‘Real World’ Ryan Weeks Ryan Weeks explores some of the use cases for stablecoins in real-world transactions. The sale of an $8 million Dubai property. Purchases of Indonesian-made cooking oil by Tanzanian buyers. A cool $100,000 in rental payments for a Palm Jumeirah villa and private yacht. Bloomberg Crypto Jefferies’ Rothney Gets Ready for a Dealmaking Blitz in Canada Happy new year and welcome to the first 2025 installment of Bay Street Edition, our weekly newsletter devoted to what’s happening in Canadian finance, covering strategy, deals, people moves and a dash of economics. I’m Christine Dobby, Bloomberg’s Toronto-based banking reporter, and you’ll find me in your inbox every Friday. This week, we’re speaking with Jefferies banker Bruce Rothney about what he sees ahead for the year, looking at how Canada’s banks ranked in 2024 and talking Bitcoin ETFs. Plus, one story about people not being terrible. Please share this newsletter with your friends and colleagues, and if it was forwarded to you, sign up here to receive it every week. Bullish Amid the Gloom It’s that time again — time to emerge from the liminal space you lived in from about Dec. 26 to Jan. 2, remember your name and what you do for work, and check back into the world. And what better way to start than by reading an uplifting forecast for Canadian markets, courtesy of Bruce Rothney? The longtime financial services executive is CEO of Jefferies Financial Group’s Canadian unit. The investment banking business he helped launch just over a year ago has had some early successes, particularly in the financial sector. Jefferies wrote the fairness opinion for National Bank of Canada’s board on its landmark acquisition of Canadian Western Bank, and the firm was the lead financial adviser to Abu Dhabi-based Mubadala Capital on its all-cash offer for CI Financial Corp. — a C$4.7 billion ($3.3 billion) deal. Rothney sees the momentum continuing, and here are a few themes he’ll be watching this year. The Economy: A Weak CAD Isn’t So Bad After a year of soft economic growth and rising unemployment, Canadians are in a pessimistic mood to start the winter. About 60% believe the economy will be worse in six months, according to the latest Bloomberg Nanos survey — probably because of Donald Trump’s tariff threats. Yet Rothney is bullish. “Canada is a bit of a laggard, but we believe the tide is turning,” he said, with significantly lower interest rates giving a boosting to growth. In fact, the gap between Canadian and US borrowing costs is rarely this large. Canada's Slower Growth Brings Lower Rates Benchmark government bond yields in the US and Canada Canada has a huge opportunity in artificial intelligence, he said, citing the ties of leading researchers to University of Toronto and other Canadian schools. But to advance the commercial development of the sector, “we need to accelerate the attraction of low-cost, flexible capital that IPO markets bring.” In terms of timing, Rothney sees “quite a number of deals coming to the fore” in the second and third quarters. “I don’t think you’re going to see an explosion in the IPO market, but I think it’ll be constructive.” Value in Unexpected Places “Another area that’s going to be interesting to watch is what I would call ‘embedded infrastructure’ within companies,” Rothney said. “A lot of companies have valuable infrastructure embedded in their balance sheets — including distribution and logistics centers and telecommunications networks.” For example, take Rogers Communications Inc.’s plan to sell a minority stake in parts of its wireless infrastructure to an outside investor for C$7 billion. (Bloomberg and other media outlets have reported that the unnamed party is Blackstone Inc.) “These types of assets have largely been undervalued by the public markets,” Rothney said, adding that alternative asset managers like Apollo Global Management Inc., Blackstone, Brookfield Asset Management Ltd. and Canadian pension funds are now “exploring creative ways to partner with corporates to lower cost and provide flexible capital solutions.” For public companies, that can mean a higher valuation (though the infrastructure deal hasn’t helped Rogers’ share price much yet, maybe because it isn’t done). Bloomberg Crypto Bitcoin Slips in December as Investors Cash In on Record Rally Bitcoin fell 3.2% in first monthly drop since August It gave 120% gains last year, investors optimistic for 2025 Bitcoin’s record-breaking run faltered toward the end of 2024, leading to its first monthly drop since August. The digital asset fell 3.2% last month as US investors cashed profits after a rally triggered by President-elect Donald Trump’s victory pushed Bitcoin to an all-time high of $108,315 mid-December. Feverish speculation in the crypto market has cooled as expectations for interest-rate cuts from the Federal Reserve waned, eroding appetite for riskier assets. Bloomberg Crypto BlackRock’s Bitcoin Fund Became ‘Greatest Launch in ETF History’ IBIT has grown to more than $50 billion in assets in 11 months US ETFs played a key role in Bitcoin’s rally over $100,000 An iShares billboard outside the Nasdaq MarketSite in New York in July. Photographer: Victor J. Blue/Bloomberg BlackRock Inc.’s iShares unit offers more than 1,400 exchange-traded funds around the world, yet none of them have performed quite like this. The iShares Bitcoin Trust (ticker IBIT) smashed industry records in its launch year of 2024. In just 11 months, it grew to a behemoth with more than $50 billion in assets. Simply put, no ETF has ever had a better debut. Bloomberg Crypto Solana Pioneer Sued by Ex-Wife for Millions in Crypto Returns Stephen Akridge’s former wife accuses him of reaping millions Couple filed for divorce in 2023 after 10 years of marriage A co-founder of Solana, one of the biggest blockchain platforms in the world, is locked in a legal battle with his former wife over the gains from a cache of lucrative SOL tokens. Stephen Akridge was accused by his ex-wife, Elisa Rossi, in a lawsuit of stealing “millions of dollars” in income yielded from her digital wallet holdings of Solana, the sixth-largest cryptocurrency by market value. Bloomberg Crypto Singapore Pulls Ahead of Hong Kong in Race to Be Crypto Hub Both cities have tried to attract crypto firms to their shores Hong Kong authorities have been cautious handing out permits Singapore forged ahead with efforts to formulate a digital-assets hub in 2024, while rival financial center Hong Kong has struggled to gain traction. Singapore doled out 13 crypto licenses in 2024 to a range of crypto operators including top exchanges OKX and Upbit, as well as global heavyweights Anchorage, BitGo and GSR. That’s more than double the licenses awarded by the city-state the previous year. A similar licensing regime in Hong Kong has been slow to progress. Bloomberg Crypto Bitcoin Approaching First Weekly Decline Since Trump’s Victory Digital asset fell as central bank pared rate-cut projections FalconX says looming options expiries may spur more volatility Bitcoin was down more than 7% for the seven-day period through 2:50 p.m. Sunday in New York. Photographer: Justin Chin/Bloomberg Bitcoin is headed toward its first weekly decline since Donald Trump’s victory in last month’s US election as a cautious Federal Reserve policy outlook tempers optimism sparked by the president-elect’s embrace of the crypto sector. The largest digital asset was down more than 7% for the seven-day period through 2:50 p.m. Sunday in New York, the biggest such drop since September. A wider crypto market gauge, encompassing smaller tokens such as Ether and meme-crowd favorite Dogecoin, suffered a sharper decline of about 10%. Bloomberg Crypto Republicans Defy Trump, Pass Bill to Avoid Shutdown Get caught up. Bloomberg Crypto Pro Crypto Lawmaker Hill Eyes Digital Asset, Banking Regulation Hill to lead House Financial Services Committee in January Arkansas Republican has previously backed crypto legislation Bloomberg Crypto S&P 500 at 4200, Bitcoin at $45,000 if US enters recession in 2025 Bloomberg Crypto Bitcoin Bolstered by Pro-Crypto Contender to Lead US Agency CFTC Andreessen’s crypto policy lead Quintenz vies to be CFTC head Firming expectations of another Fed rate cut also aid the mood Bloomberg Crypto US Bitcoin ETF Inflows Near $10 Billion Since Trump Election Win Expectations that crypto will thrive under Trump spur demand Bitcoin has posted its longest weekly winning run since 2021 Bloomberg Crypto Stablecoin Issuer Circle Internet Financial Makes Some Job Cuts Job losses represent less than 6% of Circle’s workforce Company says it continues to target growth opportunities Bloomberg Crypto Crypto-Rich Russian Networks Moving Oligarch Billions Shut Down by UK NCA uncovers laundromat offering to swap cash for crypto Networks moved funds for organized crime, tycoons, oligarchs Bloomberg Crypto Bitcoin Miner MARA Buys Texas Wind Farm as AI Crowds Out Crypto MARA plans to mine Bitcoin only when the wind is blowing Crypto was considered a big power user until AI came along Bloomberg Crypto IMG_3123 Bloomberg Crypto The Establishment Takeover of Bitcoin Creates New List of Risks Bloomberg Crypto Howard Lutnick, King of Cantor, Gets a Boss of His Own in Donald Trump Bloomberg Crypto Stocks, Bonds Rise as Traders Embrace Bessent: Markets Wrap Bloomberg Crypto Fed’s Bowman Says Regulators Shouldn’t Rush to Contain AI Bloomberg Crypto Damian Williams plans to leave SDNY post before inauguration Former regulator, lawyer Jay Clayton is Trump’s pick for SDNY Bloomberg Crypto Spain Tinkers With State TV in Political Brawl Bloomberg Crypto Stablecoin Startup BVNK Seeks Funding After Major Deal by Stripe Bloomberg Crypto Trump’s Ally Lummis Pushes to Sell Some of the Fed’s Gold to Buy Bitcoin Bloomberg Crypto Bitcoin Options Show Traders Betting on $100,000 by Year-End Bloomberg Crypto Ex-Pimco, Millennium Executives Set Up Crypto Advisory Business Bloomberg Crypto Bitcoin on Cusp of $80,000 for First Time on Optimism Over Trump Bloomberg Crypto BlackRock Fund Powers US Bitcoin ETFs to a Record Daily Inflow Bloomberg Crypto ‘The King Is Back:’ Binance Billionaire CZ Plots Life After Prison Bloomberg Crypto Trump Media Rallies as Republican Closes In on Election Victory Bloomberg Crypto Trump Trade’ Doubts Drag on Dollar, Boosting US Treasuries Bloomberg Crypto Traders Prepare for a Long, Volatile Election Night Bloomberg Crypto Wall Street Week: Solving Puzzles: Election, Cybercrime and Defense Bloomberg Crypto Bitcoin’s Run Toward Record High Falters as Trump Election Odds Dip Bloomberg Crypto The Charts That Scare Wall Street Bloomberg Crypto Ethereum Co-Founder’s Firm Consensys Cuts 20% of Workforce Bloomberg Crypto Nvidia Has Lots Riding on This Week Even as Earnings a Month Out Bloomberg Crypto Crypto’s ‘Too Big to Fail’ Token Tether Faces New Threat From US Bloomberg Crypto Japan Group Backs Prioritizing Bitcoin, Ether for Crypto ETFs Bloomberg Crypto Tether Asks Turkey to Consider Digital Token for Borate Minerals Bloomberg Crypto Load More
