Bitcoin (BTC) fell toward $34,500 on Nov. 7 as analysts’ attention turned to mushrooming open interest. BTC/USD 1-hour chart. Source: TradingView Open interest “surge” spooks Bitcoin pundits Data from Cointelegraph Markets Pro and TradingView showed BTC price trajectory struggling to reclaim $35,000 as support. The largest cryptocurrency lacked clear direction into the Wall Street open,
This article is an on-site version of our Chris Giles on Central Banks newsletter. Sign up here to get the newsletter sent straight to your inbox every Tuesday Central banks have had one consistent message over the past two weeks — “we are not close to cutting interest rates”. Financial markets were listening, of course,
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Short-term UK gilts rallied sharply on Tuesday as traders seized on comments from a senior Bank of England policymaker suggesting it may be willing to consider interest rate cuts in the middle of next year. The
Let’s say you’re in the market for a regal Las Vegas spread that’s close to The Strip and big enough for 20 of your BFFs to each have their own bedroom. You’re in luck. A sprawling compound with 10 buildings on almost 16 acres in a gated golfing community has come on the market at
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. King Charles III on Tuesday set out the 21 pieces of legislation that Prime Minister Rishi Sunak hopes will frame the next UK general election, as the countdown started to polling day. The King’s Speech,
Stay informed with free updates Simply sign up to the UK inflation myFT Digest — delivered directly to your inbox. UK grocery inflation has slowed to single digits for the first time in 16 months, according to sector data that will add to hopes of food prices normalising in the coming months after a long
Last weekend’s time change caught me by surprise. I’ve been so fully focused on my trip this coming weekend and a major book project that I completely forgot we were “falling back” an hour on Sunday morning. I was also caught by surprise at its effects on my energy levels, which got slammed. I don’t
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The next financial crisis is likely to be in the “shadow” non-bank lending sector, UBS chair Colm Kelleher has said, warning that the growth of lightly regulated private markets since the 2008 crisis is a
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. UBS has unveiled its first quarterly loss in nearly six years as it bears the costs of the takeover of its former rival Credit Suisse. The $785mn net loss was bigger than the $444mn expected
Bitcoin (BTC) transaction fees are at their highest in nearly six months as a new wave of inscriptions boosts competition for block space. Data from statistics resource BitInfoCharts shows the average BTC transaction fee approaching $6 as of Nov. 7. Ordinals taking up Bitcoin mempool again The return of Bitcoin Ordinals is making its presence
Cryptocurrency intelligence firm Glassnode has said it’s dropping crypto tax-related projects to focus on new solutions targeting institutional investors and decentralized finance (DeFi). Glassnode, on Nov. 6 announced the sale of its crypto-focused tax platform known as Accointing to the European crypto compliance provider Blockpit. The firms declined to disclose the size of the deal
The founder of Estonia-based LHV Bank, Rain Lõhmus, has been revealed as the owner of a massive 250,000 Ether (ETH) stash bought during the Ethereum ICO, which is now worth an eye-watering $470 million. There’s only one problem. He no longer has the keys. In February, Coinbase director Conor Grogan highlighted a Ethereum whale wallet
Stay informed with free updates Simply sign up to the Artificial intelligence myFT Digest — delivered directly to your inbox. The writer is director of the European Legal Studies Center at Columbia Law School and author of ‘Digital Empires: The Global Battle to Regulate Technology’ The contest over technological supremacy in the age of artificial
Stay informed with free updates Simply sign up to the Social affairs myFT Digest — delivered directly to your inbox. Around this time of year, I used to feel embarrassed about my lack of a proposal story. It’s my wedding anniversary this week, which tends to prompt questions like, “So how did you propose?”, a
Deep in rural Minnesota, surrounded by fields of corn and soyabeans, Joe Biden tried to explain the phrase he hopes will kick start his bid for re-election next year. “Folks, ‘Bidenomics’ is just another way of saying the American dream,” he said last week at a farm in Northfield. One year out from an election
Ava Labs, the team behind the Avalanche Blockchain, has confirmed it laid off 12% of its employees in a recent wave of staff cuts, citing the need to reallocate its resources. The firm’s founder and CEO Emin Gün Sirer confirmed the news on Nov. 7 after several former Ava Labs employees announced on X (formerly
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. WeWork has filed for bankruptcy, a humbling fall for the once high-flying co-working start-up co-founded by Adam Neumann and backed by billions of dollars from Japan’s SoftBank. The company that set out to revolutionise office
In this article WE Follow your favorite stocksCREATE FREE ACCOUNT The WeWork logo is displayed outside of a shared commercial office space building in Los Angeles, California on August 8, 2023. Embattled office-sharing firm WeWork on August 8 warned US regulators that it is worried about its survival. Citing financial losses, cash needs, and a
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The writer is a senior fellow at Carnegie China While Chinese policymakers debate over whether or not debt levels will limit their country’s ability to maintain many more years of high, investment-driven economic growth, it’s
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. PwC plans to cut up to 600 jobs in the UK as a plummeting number of resignations at the firm pushes it to make staff redundant instead. The firm will launch a voluntary redundancy programme
There was a moment, some two hours into Donald Trump’s turn on the witness stand in Manhattan state court on Monday, when the larger-than-life real estate tycoon and former US president appeared oddly wounded. “He called me a fraud and he didn’t know anything about me,” Trump said, wagging his finger in the direction of